Tax, schmax. Nobody likes paying taxes: from the richest to the poorest, we all think we’re getting a poor return, even if we believe in theory, as me and Warren Buffet do, that taxes are a necessary evil for the good of society. Given that I’d rather write a dinner…
Browsing: credit-crunch
Remember when Mervyn King, Governor of the Bank of England, was all about applying ‘Moral Hazard’ to the banking system? You know, the idea that some banks had to fail to teach others not to make dodgy lending decisions? You can be sure King remembers making statements on risky lending…
More evidence that house prices are really falling comes from the Nationwide building society, in its latest official house price index. While it tries to draw attention more to annual figures in the accompanying commentary, which are still very much up, the quarterly figures for January to March 2008 are…
Stock markets have been falling for months, led by a collapse in confidence in the financial system and plunging bank stocks. In the UK we’ve seen Northern Rock crumble, while in the US the investment bank Bear Stearns lived up to its name after jitters led to rumours which led…
