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Finance in the furnace

By Mary Fitzgerald  

What began as an American sub-prime mortgage problem has mutated into a terrifying financial meltdown, requiring massive government bailouts. Our symposium looks at the crisis from a number of angles. Former City big-beast and microfinance entrepreneur Mark Hannam examines the sub-prime problem that started it all, explaining where we went wrong in lending to the poor and how we can (and must) do better in the future. Financial investor Clive Cowdery argues that we will never curb the speculators, so must make them pay their way by levying the Tobin tax—a small…

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