Mel Brooks and the bankers

Thorvaldur Gylfason, 18 August 2010

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In Mel Brooks’ brilliant film and Broadway musical The Producers, an over-the-hill Broadway producer, Max Bialystock and his hapless accountant, Leo Bloom recognise two great truths. It is very hard to produce a hit and very easy to produce a flop – and they can make more money by producing a flop than by producing a hit.

Topics: Financial markets, Global crisis
Tags: bankers, fraud, subprime crisis

Iceland’s special investigation: The plot thickens

Thorvaldur Gylfason, 30 April 2010

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The recently published nine-volume, 2,400-page report from the Icelandic Parliament‘s Special Investigation Commission (SIC, appropriately pronounced sick) is not an attempt at whitewash as many had feared.

Topics: Financial markets, Global crisis
Tags: banks, fraud, Iceland

EU VAT fraud part 1

Richard Baldwin, 14 June 2007

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Here’s a quiz. Suppose organised criminals were stealing €100 billion a year from EU governments and the problem could be fixed with deeper cooperation among EU member states. Do you think EU leaders would solve the problem?

Topics: Taxation
Tags: fraud, VAT

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