February 22, 2009
"Leaders from Britain, France, Germany, Italy, Luxembourg, Spain, the Netherlands and the Czech Republic agreed to press for sanctions on tax havens, caps for managers' bonus payments and a stronger role and increased funding for the International Monetary Fund.
While the plans were based on an agenda adopted by the G-20 in November, the measures announced Sunday were more far-reaching and concrete, particularly on long-disputed issues such as hedge fund regulation. "
Hopefully the US will support these efforts to stop the unbridled speculation by the hedge funds who represent more than 1/3 of trading in the US and are not even encumbered by " the uptick rule" -eliminated in 2007!
R. J. Braun
Concerned retired citizen