The reform of financial monitoring goes further than expected

The government is working on creating new and more severe rules to prevent the chaos of the latest bank crisis: rules that show more respect for the shareholders. The newly-created emergency law for the banks, that includes the possibility of the temporary overtake by the government, should make sure that future financial crises can be solved more effectively and much faster than before.
The next step is the establishment of the ‘Committee for System Risks’ who should control bank-strategies. This new Committee will have exclusive powers. For example, it will have the right to block strategic decisions and they can create an administrative court that will be able to sanction the break of the new law.

Jana Clinck

Prepaid, but Not Prepared for Debit Card Fees

‘It is simplicity itself’, would say Mr. Sherlock Holmes. If you cannot open a bank account, just buy a debit card which is ready for A.T.M. withdrawals, store purchases and online shopping: no credit check, safer than cash. Prepaid debit card is a plastic worth $25, $100 and even $500 you could compare to prepaid phone cards and gift cards for retailers. But you must watch out for the so-called fine print or otherwise you will be really surprised that activating of your account will be already charged with $10 and every purchase will cost you 50 cents more.

Ksenia Charauko
http://www.nytimes.com/2009/10/06/your-money/06prepay.html?ref=business