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Home > Commentary - Financial Markets


The banks are bamboozling us again
Originally published 15 Jul 2008 in The Jerusalem Post

In the name of stability the comptroller has ignored many of the banks’ offenses.

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A Martian just wouldn’t get it
Originally published 6 Jul 2005 in The Jerusalem Post




Image of Mars from the Australian National University's Research School of Astronomy and Astrophysics

Mind-bogglingly little attention is being paid to the fierce debate in the legislature over the Bachar Commission banking reform proposals, on which the nation’s democratic fabric and even its very survival depends.

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Welcome home, Stanley Fischer
Originally published 20 Jan 2005 in The Jerusalem Post




Stanley Fischer

The enthusiastic reception to the appointment of Stanley Fischer as governor of the Bank of Israel – mostly by those who understand economics – and the negative reactions by so many other public figures help illuminate why our civil service seldom recruits top talent.

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Israel’s financial revolution
Originally published 11 Dec 2004 in ICSEP

On Sunday, November 14th, the Israeli government passed a resolution to finally reform its regressive financial markets. If ratified by the Knesset and implemented, despite the present political crisis, the reform will break up the destructive bank duopoly of Hapoalim and Leumi that has strangled the Israeli economy worse than did the banks in Japan.

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Expert witness syndrome
Originally published 22 Sep 2004 in The Jerusalem Post




Israel's bank duopoly

Did you ever hear expert witnesses – reputable professionals – cast doubt on a matter they are so generously paid to advocate? Of course not. Expert witnesses are handsomely rewarded to deliver. Additional lucrative assignments would not materialize should they fail to be totally loyal to their clients’ cases.

So it is hardly surprising that the Promontory Financial Group members hired by Israeli banks to undermine the credibility of the governments’ Financial Reform Plan tried to do what they got paid to do. “We are hired because we are objective,” the four insisted. Let’s examine the evidence.

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 About Us 

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A sound economy is crucial for Israel's future. Since its inception in 1984, ICSEP has helped shape the country's consensus towards economic liberalization and deregulation.

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