4 ms·
> Green acknowledges the quandary. “You can detect a certain ambivalence about corporate crime,” he says. “You can see people wondering, ‘Why on Earth are you i
by forapurpose 9y ago
> Green acknowledges the quandary. “You can detect a certain ambivalence about corporate crime,” he says. “You can see people wondering, ‘Why on Earth are you investigating blue chip, listed companies? Don’t we need those?’ ..."
This isn't a quandary: No, we don't need corrupt companies. Corrupt blue-chip financial companies rob people and benefit themselves. The loss of the rule of law would reduce returns in markets and reduce liquidity by scaring away investors. Corrupt blue-chip financial companies cause financial crises.
- jimnotgym 9y agoDirty (especially Russian) foreign money coming in to London had long been acknowledged as the cause of the extraordinary property prices. The sad thing is that the demagogues have managed to blame it on EU migration of blue collar workers. This was a big driver for Brexit.
- zeristor 9y agoScapegoating the poor? Who would have thought.
- dash2 9y agoEvidence for either of these claims?
- hobofan 9y agoFor the property prices there is good documentary about it[0]. [0]: http://www.imdb.com/title/tt1032755/ http://www.imdb.com/title/tt1032755/
- jimnotgym 9y agoDemagogues: http://www.dailymail.co.uk/news/article-2332449/Now-houses-better-green-fields-minister-says-immigration-driving-home-prices.html http://www.dailymail.co.uk/news/article-2332449/Now-houses-b... Dirty money: http://www.independent.co.uk/news/uk/crime/london-is-now-the-global-money-laundering-centre-for-the-drug-trade-says-crime-expert-10366262.html http://www.independent.co.uk/news/uk/crime/london-is-now-the... But a search engine will give thou many many hits on 'money laundering London' Russians buying property in London : https://www.theguardian.com/cities/2014/may/09/rich-russians-buying-london-property-real-estate https://www.theguardian.com/cities/2014/may/09/rich-russians... > Evidence for either of these claims? If you really just wanted sources I'm guessing thou would have phrased that differently? If you want to dispute the points then please post a counter argument instead. I am a UK citizen and I felt the points I made were very well known. The relative importance of each is a matter of opinion of course.
- dash2 9y agoThe fact that dirty money exists is well known. The fact that property prices are high is well known. The claim that the two things are linked requires a bit more than a newspaper article, sorry. FWIW I would not be surprised if it were true. Similarly for the claim that "demagoguery" caused Brexit. That proposition is widely believed by people who are against Brexit; I don't know of any evidence for it though.
- barrkel 9y agoThey are the cause of high prices in places like Kensington and Chelsea. The cause elsewhere is low interest rates - low interest rates lower the cost of renting money. Most of a monthly mortgage payment is determined by the interest rate, so a small drop in interest rates makes buying look much better than renting on a monthly basis, and we've had low interest rates for ages, conditioning people to think they won't rise much.
- incompatible 9y agoPresumably, the hope is that they mostly rob foreigners.