Jersey Finance chief launches blog on the industry

Friday 6th March 2009, 2:59PM GMT.

THE chief executive of Jersey Finance Ltd, Geoff Cook, has launched a blog to comment on developments in the financial services industry.

Mr Cook’s first online entry, which can be read on the Jersey Finance website, www.jerseyfinance.je, addresses an issue very much of the moment – criticism of and promises of action on supposed tax havens.

He writes that ‘tax haven now competes with bank as the pejorative label of choice deployed by politicians and journalists alike’. However, he argues that international finance centres – well-regulated or otherwise – had no appreciable role in causing the present economic crisis.

In making the argument he uses particularly striking language. He writes, for example, that ‘debt became the rocket fuel of Wall Street and the honey pot of Main Street’.

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1
yosser hughes

March 6, 2009 at 4:07 pm

We, meaning offshore finance centres, helped facilitate a lot of it. Sadly Geoff Cook does not appreciate the mechanisms that were at play (including our part) over this bubble period or he’s just doing the propaganda bit.

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2
Alex

March 7, 2009 at 7:13 pm

yes indeed the very man that thought a certain bank going bust did’nt affect jersey as we only allow the top 500 banks in the door does that mean that the banks owned by the UK tax payer will have there banking ticket taken away from them after all Gordon’s just got his fingers into another one here namely Lloyds

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