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About finance-watch.org
The fundamental reform of the financial system that was promised after the 2007-2008 crisis has not been delivered. New rules introduced have already been heavily watered down thanks to the powerful influence of the financial lobby. More importantly, though, these rules have not clarified that the purpose of finance should be to serve the real economy and society, nor addressed the financial system’s size and reach. Financial firms therefore continue to privatise gains for activities that have no social benefit, whilst socialising losses. The new rules have not resolved the first issue they set out to tackle: the stability of the financial system.
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