Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-09-23-Speech-2-969"
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"en.20080923.31.2-969"2
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"The financial world is rocking on its foundations. Ordinary American taxpayers are paying the price of a rescue plan (USD 700 billion) whilst those who caused the problem are getting off scot-free. In the form of the Rasmussen report, the European Parliament had an instrument with which to do something to improve scrutiny of certain areas of the financial sector: hedge funds and private equity. With the crisis now so urgent, we had an opportunity to call on the European Commission to introduce strict legislation. The Group of the Greens/European Free Alliance therefore tabled various amendments to this report but, since these were rejected by Parliament, we voted against the report. There is to be no European authority to monitor the financial sector, no European legislation on the registration and monitoring of hedge funds, no limit on private investment companies taking root excessively. In the very week when the capitalist system is on the point of imploding, the European Parliament has missed its opportunity. We Greens are signalling that we shall continue to devote ourselves to severely curtailing a free market whose only objective in speculating seems to be to make the fastest possible profit for a small group of people. This is socially and economically irresponsible."@en1
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