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It seems that Deutsche Bank do care about reputational damage. Yesterday, Josef Ackerman, head of the Bank had his contract renewed for another three years, in order to avoid the ‘reputational damage’ of an open recruitment process. Speaking to the Financial Times Ackerman said: “In these tough times we didn’t want any more reputational Deutsche Bank, according to its website, has ‘a passion to perform’. Visitors are invited to download its ‘empowering logo’ on to their computer monitors. Its managers are empowered to extract from customers/clients a profit goal of 25% per annum. In January this year (see my blog of that month) Bishop Wolfgan Huber, leader of Must comment on the outcome of the IMF meeting this last weekend. You will recall that I was sceptical (in a Huffpost that argued that the Summit promised no ‘new world order’) about the sincerity of London G20 Summit promises of early April, spun artfully by Prime Minister Gordon Brown and his team. Holed Apologies to regular readers of this blog for long absences. I blame the British Chancellor, the fine Spring weather and the ennui brought about by unrelentingly dismal economic news. Better to remain silent, methinks. However, enjoyed a moment of light relief last night, at the launch of Gillian Tett’s new book: ‘Fool’s Gold‘ at
The 50% tax plans are too little, too late – and the carbon budget is not enough to help us avoid catastrotrophic climate change.
At last, timidly and belatedly, New Labour is going after the rich – the top 1% earners in the country – by increasing tax on salaries over £150,000 to 50%. And there is help for the young unemployed, the elderly, the disabled and for childrren. But as always, it’s too little too late.
By Ann Pettifor. Huffington Post. 20 April, 2009. The Obama administration said no to downsizing and re-structuring the banks. They balked at firing incompetent CEOs. Under attack from Republicans and Wall Street they held back on controlling financial institutions that, post bail-out, are in reality ‘State-Owned Banks’. As a result, the US administration has itself been hijacked, and America is now, effectively, a Bank-Owned State. Democracy has been usurped by what Abraham Lincoln called ‘the Money Power’. Why would bankers stage a hold-up of the administration you ask? Because, to echo the words of an old bank robber: “That’s where the money is”. Tuesday, 21st April. Guardian round table: The CBI thinks the worst is over. Gordon Brown says Britain is overcoming the problems of recession. In budget week, we gauge the levels of optimism Ann Pettifor “My rating of green shoots is at zero – if ideologically driven attacks on government spending by all political parties From The Guardian, Wednesday 22 April 2009 Today we face three of the greatest challenges of our time, global recession, energy security and the threat of catastrophic climate change. The only solution to this triple crunch is a low-carbon recovery. Millions of jobs could be created around the world, global warming emissions slashed and Posted by Maz Kessler 4th April 2009 Watch Ann on the IMF on Al Jazeera’s “People and Power” here.
Huffington Post by Ann Pettifor. 1st April 2009 President Obama and his wife Michele arrived in London on a sunny, but tense ‘financial fools day’. They’re staying just across the road from my apartment – at Winfield House, the Ambassador’s home in Regent’s Park. Built for heiress Barbara Hutton, it ‘oozes English country-house charm as seen through the eyes of a Hollywood set designer’ according to those snooty types at the Guardian. My regular morning – and always peaceful – constitutional through London’s verdant greenery is now disrupted by blockaded footpaths, machine-gun-toting policemen, and buzzing helicopters. But I am not grumbling. Indeed it gives me, and millions of Londoners, a thrill to bask in the glow cast by this glamorous couple. |
In the September 2003 edition of openDemocracy I wrote: 
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