Ethics and governance in the European Financial centers

Bob Bauman has reported that Senator Max Baucus will support an alternative text to the "Stop Tax Haven Abuse Act" that was introduced by Senator Carl Levin.
Both senators are Democrats. Max Bocus chaired the Senate Finance Committee.

This story demonstrates that like in the European Union, politics that in influenced by lobbies, decide of policies.

But if I were the leaders of a place as Luxembourg I would not be jubilant: the Madoff case showed and wil show large deficiencies in the juridiction, admitted by the head of the CSSF.