Change Finance -  -

#10YearsOn from the crisis, We're calling for action

On September 15th 2018

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Our mission

A decade ago, banks got bailed out and the public got sold out.

We didn't cause the crash but we paid a heavy price. Lost jobs, stagnant pay and less money for schools and hospitals.

Our financial system remains as rigged and dangerous as ever, from casino trading to recklessly funding fossil fuel projects, treating nature as free to waste.

Instead of sleepwalking into another crisis, it's time our politicians took action.

10 years on, we're calling on our governments to change finance for good!

If you agree that it's time

  • For finance to serve all of us and the planet
  • For more democracy in the financial system
  • For stronger rules to prevent further financial crises

 

Then say you’ll stand with us.



Fast fact

Wealth continues to be transferred from the public purse to private pockets.

The financial sector still grows to unsustainable levels for our society (16.9% of the total global economy in 2014 (McKinsey Global Institute; IMF)

Blackrock and Vanguard are new threats to the system. In 2008, they managed $4 trillion of assets, and in 2017, a whopping $11.5 trillion.

Central banks have injected thousands of billions – huge amounts of public money- into financial markets, with very little democratic oversight and no regard to its impact on inequality and climate change.

While global financial assets represent almost $300,000 billion, finance dedicated to reduce climate change only represents $383 billion (CPI, 2016).

In 2017, financing for overseas coal projects reached a five-year high from G20 governments, totalling at least $13 billion in loans, credits, and guarantees.

Wall Street bonuses have jumped 17% to pre-crisis levels. While there is a limitation on bonuses in the EU since 2014, Brexit could lead to its suppression in the UK.

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