Our Sponsors

VIPCoFCCGBroadridgeLink Market Services GmbHAHEADhermesDP DHLK+SSAPGeorgesonSuedzuckerWacker Chemie AGThomson ReutersEQS Group



Corporate Governance – portrayed in the individual cultural and legal framework, from the standpoint of equity capital.

VIPsight is a dynamic photo archive, sorted by nations and dates, by and for those interested in CG from all over the world.

VIPsight offers, every month:
transparent and independent current information / comments / facts and figures on corporate governance locally and internationally,

  • written by local CG experts,
  • selected and structured by the Club of Florence,
  • financed by its initiator VIP and other sponsors with a background of “Equity and Advisory” interests.

VIPsight International

Article Index


Buhlmann's Corner


Bank levy or responsibility money?

At last the world is getting better! The German government has recognized how this works: banks need to hand over money through the so-called bank levy, so they don’t go broke with the rest of the money. After all, it’s clear: those who have less, can go bankrupt for less. Anyone who does not understand that is evil, says the Chancellor, in heartfelt tones of credible argument.

It stands to reason that if you want to pick up responsibility, you have to get it from where there’s most of it. From the Deutsche Bank, then. Which has at least shown that it can live without government money and understands how to do business. How is one supposed to get responsibility money from HRE too? Speaking of HRE, by the way, to be honest it really ought to be Italy that’s saving it: after all, it’s Hypo’s bad bank, and Hypo now belongs to Italy’s Unicredit.

Instead, the German micro-bankers argue. What, HRE’s paying nothing? Promptly, along comes the Savings Bank of Biberach and demands the same thing. Let’s look instead from Berlin to Madrid. There’s a good payment candidate there too, the Banco Santander. It didn’t need anything from the State. It had three times as much responsibility and thus three times the payment obligations.

The regulators have a hard time, that’s true. But they need not fear a ruling to demonstrate their effectiveness and their formative rather than restorative responsibility. IKB, Northern Rock or Washington Mutual are ample proof of the clear failure of government oversight.