» Posted by Martin Weil on October 03, 2007

I'll give you a hint. It's not the Wall Street Journal, they of the "less regulation and oversight" school, the argument being basically that more oversight would make the US less competitive internationally.

Well, the UKs Association of Pension Investors and a similar group in Australia beg to differ, according to this article in the Financial Times, describing a letter to our own SEC signed by several large European institutional investors.

"Rights to provide real director accountability to shareholders are sorely needed in the US," said Daniel Summerfield, co-head of responsible investment at the Universities Superannuation Scheme, the UK's second-largest pension scheme and a signatory to the letter to the SEC.

Seems these investors, along with many in Europe, have been badly shaken by the failure of our regulatory system to prevent the widespread damage to investors caused by the subprime credit meltdown.

Previous entry: How inflation is measured, in a single picture
Next entry: Peer pressure will save the planet

Back to Martin's View main page