Out of the shadow!
We need transparency in the whole system, the touchstone of accountability.
The crisis revealed a dangerous "shadow banking system" causing the build up of excessive debt and speculative financial gambling. Both banks and these "shadow banks" created highly complex financial products to repackage and resell debts - at a profit - to enrich themselves and hide the real risks involved. They contaminated the entire financial system through their unaccountable and shady behavior, spawning a global financial casino, playing with our money, our jobs and our economies.
The interests of customers and workers have been sidelined.
The cartel of finance companies over financial markets and regulation must be dissolved. We must throw open the doors on this secret world through new regulation and supervision for transparency and accountability of financial institutions and products. We must enhance accountability, mandate and resources of supervisors.
Sharing the burden of the crisis!
Global financial markets have caused the most serious economic crisis since the Great Depression, over 80 years ago. In response to the current crisis, governments around the globe have been stabilizing and protecting their economies and jobs with taxpayers’ money. Many citizens ask themselves: Who is going to pay the bill for this? Are taxpayers the only ones to pay or will financial markets and investment bankers be held accountable to pay parts of the burden?