RAPID responses June 10, 2012 Generation gap [Re: We have no obligations to future generations: They’ll be better-off than us, Wednesday] This is the first Jamie Whyte column with which I disagree. Just because a distant ancestor has performed some task that benefits me, centuries on, I owe nothing to him or her. If, for my own benefit, I resurfaced [...]
The subprime mortgage crisis isn’t over – UK taxpayers remain liable June 7, 2012 THE subprime mortgage crisis isn’t over. On the back of misguided government policies, taxpayers in the US and UK remain on the hook for huge sums. The ideology of affordable housing must end. It took just 13 years to destroy the American mortgage market with devastating effects for the rest of the world. The process began [...]
London’s contemporary design lustre is a reflection of its inspiring heritage June 7, 2012 THE Barbican’s new Bauhaus exhibition is full of ghosts. These early twentieth-century disciples of modernism are renowned for furniture as coolly perfect as an equation, but it is the human messiness of achievement that haunts every room. A chair that takes the breath away is posed between half-finished student exercises, invitations to parties and dozens [...]
My proposal for a referendum on Europe’s future June 7, 2012 IF THE German people are persuaded by their politicians to continue funding the Eurozone, based on much greater integration, many existing EU member states will swallow concerns about undue austerity. But the UK will have a choice to make. Britain must not remain passive any longer – this is our EU by treaty. It is [...]
Should we be trusting of social networking companies to protect our online privacy? June 7, 2012 YES Sam Bowman Like all firms, social networks can only succeed by giving customers what they want. If people want privacy, the profit motive will give social networks a good incentive to offer it to them. LinkedIn’s security breach this week will probably provoke new innovations in security. Social networks have to constantly innovate and [...]
RAPID RESPONSES June 7, 2012 Wins-consin [Re: Wisconsin victory threatens Obama’s November prospects, yesterday] As Ewan Watt points out, Romney’s victory in Wisconsin moves him from being seen as a GOP one percenter to being a credible threat to Obama. Until now he has been seen by many Republican voters as “not Rick Santorum” or “not Newt Gingrich” and by [...]
European banking union isn’t the solution to immediate euro crises June 6, 2012 WHATEVER new twist the Eurozone crisis takes, the answers always seem to be another union: economic, fiscal, political, federal – you name it. The latest in this long and somewhat misguided list is a banking union. The idea is simple: a deposit guarantee scheme and a bank resolution fund would be created at the Eurozone [...]
Republicans’ Wisconsin victory threatens Obama’s November prospects June 6, 2012 CNN’s exit polls predicted a 50-50 split. But it was ultimately a Badger State blow-out. Wisconsin governor Scott Walker – the man who reined in the public sector unions, cut taxes and turned a $4bn (£2.6bn) deficit into a surplus – leaves Democrats feeling despondent and Republicans galvanised for November, following victory on Tuesday night. [...]
Aussienomics: Big cuts, no QE, booming growth June 6, 2012 BRITS jealous of Australia’s weather, sporting prowess and wine will now have to add an Australian economic miracle to their list of gripes. Welcome to the world of Aussienomics. The country’s GDP growth of 4.3 per cent in the last year has come as Australia’s government cut spending by far more than Britain’s has. Round [...]
Is Sir Martin Sorrell, chief executive of WPP, justified in defending his £12.9m pay deal? June 6, 2012 YES Jeffrey Rosen WPP believes in rewarding performance. Sir Martin Sorrell’s compensation is 85 per cent performance related, with a five year co-investment plan which rewards only superior performance and requires him to take a financial risk rather than benefit from one-way options. Sorrell has no notice period, thereby ensuring no reward for failure. The [...]