EU Commission Asks Those Banksters Who Caused Crisis For Solutions, Critics Say
The
EU Observer has come up with a very good question: Why are those who caused the financial crisis are now consulted by the EU Commission in order to come up with a solution?
I may add the question: Why are the bonus-greedy destroyers of global prosperity are still on their jobs at all? I expect a complete change of elites within the next 3 years as has always been the case after every financial crisis in history.
The report, prepared by 160 organizations accuses the undemocratic top echelon of the EU that they were only interested in stabilizing the banking industry and not in an improvement for the whole society.
From the report:
The vast majority of experts advising the European Commission on greater financial regulation are drawn from the same institutions that helped cause the crisis, claims a new report published on Thursday (5 November).
The document, A captive Commission - the role of the financial industry in shaping EU regulation, accuses the EU executive of listening almost exclusively to the finance industry both before and after the onset of the financial crisis over a year ago.
Its authors, the Alliance for Lobbying Transparency and Ethics Regulation (Alter-EU), a coalition of some 160 civil society groups, say the commission continues to draw insufficiently from the considerable expertise to be found in academia and civil society groups.
"The commission only seems to be interested in listening to the advice of the finance industry, rather than acting in the interests of society," said Paul de Clerck, a member of ALTER-EU's steering committee.
Mr de Clerck is also critical of the legislative proposals put forward by the commission in September and currently being analysed by the European Parliament's economic committee and member state governments.
"The commission tells us they are tightening the rules but in reality their proposals still leave many loopholes.
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