[OccupySheffield] Bank of England regulator supports Occupies Analysis

[jean wildgoose]

This time with attachment


From: Robert Daines <robertcdaines at gmail.com>
To: Belle <peachiekeen at fluffylinedmind.com>; Claire Bourne <bourne138 at btinternet.com>; Equality Shquakers <equalitysheffieldquakers at gmail.com>; Gordon Ferguson <gordon.ferguson at phonecoop.coop>; Jean Wildgoose <jeanwildgoose at yahoo.co.uk>; Josh Reevell <joshreevell at hotmail.co.uk>; Liz Roberts <ERoberts2 at sheffield.ac.uk>; Michael <m_a_m1978 at hotmail.com>; Occupy Private List <occupysheffieldprivate at email-lists.org>; Occupy Sheffield <OccupySheffield at email-lists.org>; Oliver Blensdorf <o.blensdorf at virgin.net>; Susan Daines <susanedaines at gmail.com> 
Sent: Tuesday, 30 October 2012, 8:43
Subject: Bank of England regulator supports Occupies Analysis


This packed event was held at the Friends Meeting House in London as part of the New Putney Debates. Occupy is going back to the English Revolution to find the way forward. 

Occupy's analysis praised by Bank of England's Andy Haldane - but this must only be the beginning

Haldane echoes Occupy's analysis by linking inequality to economic instability
In questioning from audience, notes that there is 'no great ideological chasm' to jump on a Financial Transaction Tax and the risk of banks moving abroad is "somewhat overblown"
Many of Occupy's concerns remain to be tackled; panellist Mick McAteer, consumer advocate and Director of the Financial Inclusion Centre, notes that "winning the propaganda war" isn't enough.

As part of Occupy London's 'New Putney Debates', Monday night's packed 'Socially Useful Banking?' event at Friends House saw the Bank of England's Director of Financial Stability, Andy Haldane, assert that Occupy had been "right, not just morally but analytically" in identifying the problem of "deep and rising inequality" as lying at the heart of the crisis. [1] [2] 

In his identification of inequality as a cause of fundamental instability, Haldane echoed the attack on "systemic economic inequality" of Occupy London's Economics Statement, which was agreed by consensus almost exactly a year ago. [3] Further Occupy themes - including calls for the abolition of tax havens, complex derivatives and the relationship of economy and environment - came out strongly in the two hours' lively questioning from the floor that followed Haldane's statement.

"As Haldane has previously argued, banks are too big," said Rich Paton, Occupy supporter and one of the panellists at the event. "Yet a 'ring-fence' might become a string vest."

"What was particularly significant this time, was Haldane's linking inequality to the debt crisis - not only as effect but as cause. That context is something he can affect less directly than banks, in his role as regulator. But it was a significant endorsement of some key Occupy themes and arguments."

Part of Occupy London's current series of public debates, dubbed 'The New Putney Debates', celebrating the 365th year anniversary of the original debates in 1647, the 'Socially Useful Banking?' event was chaired by Lisa Pollack of the Financial Times' Alphaville blog, with panellists alongside Andy Haldane and Rich Paton including Duncan Weldon (TUC), Andy Green (Bully Banks) and Mick McAteer (consumer advocate and FSA non-executive board member). 

With the free Putney Debates events running until 11 November focusing on what is needed for a more just and equal society, contributors include Natalie Bennett (new Leader of the Green Party), Michael Mansfield QC, George Monbiot, Polly Higgins, Jeremy Leggett, John McDonnell MP, Halina 
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