UK FSA chair slams City of London's 'socially useless' excesses, floats Tobin tax
Separately, French President Sarkozy proposes ‘bonus-malus’ for French banking sector.
The UK’s top financial regulator has lambasted some of the City of London’s banking and finance activities as ‘socially useless’ and suggested that a version of the controversial Tobin tax idea could be used to reign in its excesses. Speaking at a debate held by Prospect magazine…
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