Saturday, September 16, 2006

The scribble above is the new logo of the British Conservative party. How pathetic can you get? Background here. That the British Tories are now "green" seems to be the only message in it.

Rare wisdom from a centre-Left government: "The [British] Government has pledged to use legislation to block the imposition of heavy-handed Wall Street-style regulation on the City if the London Stock Exchange is taken over by a foreign buyer. Users of the London market welcomed the promise, by Ed Balls, the Economic Secretary to the Treasury, that the Financial Services Authority would be given the statutory right to veto rule changes proposed by recognised exchanges, including the LSE, if these were "disproportionate" in their impact on London. Mr Balls said in Hong Kong: "The Government's interest in this area is specific and clear: to safeguard the light touch and proportionate regulatory regime that has made London a magnet for international business." By contrast, the imposition on Wall Street of the 2002 Sarbanes-Oxley Act in response to accounting scandals such as Enron is seen as making it more difficult for New York to attract new issues. Nasdaq, the New York market, has 25.3 per cent of the LSE"

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