Welcome to Capital Account. The CEO of RBS warned about a huge fine facing the bank due to the Libor scandal; meanwhile HSBC set aside $2 billion to cover regulatory problems, including Libor-rigging and money laundering. We often cover regulation violations by the big banks, but today will talk about a litany of absurd small business regulations that could be crushing entrepreneurs. We ask our guest Jeffrey Tucker, Author of “A Beautiful Anarchy: How to Create your own Civilization in the Digital Age,” about the impact of small business regulation.
Also, Mitt Romney was in Poland, after making headlines for his Iran tough talk and UK blunders. Does this campaigning seem like noise? Are you are looking beyond the constructs of the modern US democratic system for alternative ideas? We will hear from author Jeffrey Tucker about anarchy and the role it can play in building a new civilization in the digital age.
And yesterday Sarbannes-Oxley turned 10, but the threat of jail time for executives knowingly signing off on inaccurate financial reports has not been pursued in financial crisis related incidents. What is the lesson? We talk to Jeffrey Tucker, Executive Editor of Laissez Faire Books, about it.
In a special segment of Loose Change, Jeffery Tucker joins Demetri Kofinas and Lauren to talk about wine and art as a possible hedge, and what it means when Olympic Gold Medals contain less than 2% gold.