Category: Bailouts, Economy, Really, really bad calls

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

5 Responses to “Duopoly”

  1. bman says:

    Don’t look now but here comes the brit investment bankers.
    Wall street is going to become a rather interesting place to be soon.

  2. philipat says:

    Hmmm, would that be to suggest that the Brit Banks will move to NY from London because of the new “Ring Fencing” and Bank Tax regulations?

    If so, why would these Bamks want to move to the high tax “United Socialist Corporatocracy of America”?

    Many of the Brit Banks have roots in Asia, having started business with the same (LAck of) priciples as now, funding the opium trade from India to China.

    So, whilst I agree that HSBC, StanChart and Barclays will all soon uproot and leave, the new base is likely to be Hong Kong, Singapore or Shanghai. In the two former, top taxrates for Corporations and individuals are about 16%. For Hong Kong based Corporations, this does NOT apply to profits accrued outside the SAR. For individuals, personal income tax is paid only pro rata for nights spent IN Hong Kong. SO for an exec who travels 75% of his/her time, personal tax in Hong Kong is about 4%. SO perhaps the senior execs of these Corporations might see Hong Kong as a more attractive alternative to Obamerica?

    Singapore is even more interesting because it’s EPB (Economic Planning Boeard) has a Strategic 5 year planning process which prioritises industries for inward investment, which can be granted tax holidays for estended periods. That’s why most US Pharmaceutical Companies and Electronic Companies have multi-billion dollar investments in Singapore, where they pay NO tax and accrue profits so as to “Avoid” taxation in the jurisdictions where most of their big profits accrue, by “Transfer Pricing” the profits to such friendly jurisdictions.

    Anyway, back to yor point, do you really think that these Corporations will relocate to the USCOA? Good luck. And, conversely, hasn’t America had enough of this, or does it really want to become another Socialist Benefits/Entitlements State like Europe.

    If so, a riot like Athens and London is accelerating its way towards you very soon. WIth Guns.

  3. philipat says:

    Also, frankly, if the Brit Banks do want to move to NY because of a more socially responsible regulatory regimen in The UK, you are very welcome to them. They should, in both the Europe and the US been allowed to go bankrupt and had the Shareholders/Bondholders/Boards of Directors/Managements wived out under a temporary Nationalisation process like that employed in Sweden. The Banks have not, and do not, perform any socially important purpose, so wo cares?

  4. Petey Wheatstraw says:

    philipat:

    Obamerica? I believe you mean Bushistan. The revolution took place under Bushco, and was not televised. Obama is only the successor to the CEO position of our manifest corporatocracy. Either way, it doesn’t matter where the banks reside — until one of them is held to account, the looting will continue, unabated.

  5. ToNYC says:

    The Emperor’s enablers still need checks coming in, and as long as the Fed -Banks monopoly exists in its current dual mandate form, there is no alternative that is not a moral hazard. I’m living on Easy Street from the dividends from my corporate-free network. I still try to remember to pick up my 200 dollars.