TUAC - TRADE UNION ADVISORY COMMITTEE TO THE OECD

05/09/2007

TUAC & AFL-CIO President John Sweeney calls for OECD examination of the role of hedge funds and private equity in current financial instability.

In a letter to OECD Secretary-General Ángel Gurría, John Sweeney, TUAC and AFL-CIO President has called for the OECD to undertake a horizontal consultation on the role of hedge funds and private equity investors in the current financial instability. The letter notes that “Central banks are intervening aggressively to maintain liquidity and calm capital markets and hopefully they will succeed. But, whether successful or not, these actions leave unaddressed the central role of leverage in our financial markets and the closely related issues of the transparency, governance, regulation, and taxation of hedge funds and private equity.”

related links:

• 05/09/2007| Financialisation and the “sub-prime” financial crisis – Issues for future regulation
• 16/03/2007| First Ad Hoc meeting on Private Equity & Financialisation