Conflicts of Interest

undertheradar's picture

Two examples today of the strange way things work here in the Netherlands regarding conflicts of interest. Of course we know that things are getting increasingly blurry wherever you are between government, regulators and corporations. I'll be interested to hear what you think about the whole issue.

The first example is for a business that tests LED lamps and publishes the results on the internet. The people that run the tests both work full time at Philips. Maybe not on the lamps themselves. This week they were on a consumer program explaining the basics what to look for in a LED and where they are most suitable.

Do you think Philips should take a firmer stance on this? Wouldn't it look more confident of them if they made sure their employees were not involved promoting certain technologies they also sell?

I'm not saying LED technology is bad necessarily. And I certainly wouldn't stop anyone from buying a light bulb of their choosing. I've even heard quite a few positive comments online about Philips LEDs especially from those living in the States. But who should be providing information on them? And are there any more criteria missing from the evaluation?

The second example is a quick outline of another organisation set up to promote the financial industry in the Netherlands. The Holland Financial Centre is in the news. Looks like it will be shut down, but who knows. It was run by Sjoerd van Keulen who was previously CEO of newly nationalized SNS Reaal. It was an organization made up of representatives from government, banks and supervisors.

Of course the whole worldwide financial industry is one complex maze of organizations and rules and every country wants to own as lucrative piece of it as possible. In fact it's so complex these days that it is almost impossible to regulate appropriately. Because there is constant competition for the business.

My sense is that rules are being slackened instead instead of being improved or enforced. That probably isn't a good thing ultimately in a fiat money system that faced a mishap in 2008 we have just begun paying off as taxpayers.

The Brits are talking about electric fencing their banks but not actually splitting them up. There seem to be lots of half measures going around that won't be robust the next time a really big disaster hits. 

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Stud Duck's picture

The "pot industry" is the major source of income in the Netherlands as well as tourism. The German flock there every weekend to stock up for the week or month.

Well, guess what Amsterdam Bankers, there is a new place to go in the US! Colorado hotels/motels are booked up this summer. The Denver Cannibus Cup in April also has booked up most of Denver. All of that money is now going to go to Washington or Colorado states. The American market is going to keep their money here. The Amsterdam pot seed suppliers have ripped off too many people, and is being replaced by Hemp Depot in British Columbia,

Pueblo Colorado  collected $17 mil in taxes last year and was able to make bond payment because they have accepted the people's wishes on marijuana.

A revolution is occurring in Colorado and spreading fast.

A quick note for all, one acres of land with a pot plant every 3 sf, producing 1/4 lb per plant and sold for $1,000 per pound will gross $3.4 mil. Anybody got any better return on investment than that??


Setarcos's picture

Dunno what to say really, except that it seems perfectly obvious that Philips is not the best source of information for its own products ... might as well ask Ford which is the best car to buy.

It also seems obvious that this Sjoerd van Keulen is not an apt person to turn to for advice, due to similar conflicts of interest ... so I'm not sure why you've posted this article?

As for financialism, it would be very simple to fix a seemingly complex problem, except that now the banksters own politicians, it is not going to happen that, for instance, the Glass-Steagal Act will be re-instated ... which separated conventional banking from casino-style speculation with money on deposit.

Curiously, though, I've just been reading up about the Reserve Bank of Australia which, unlike the Federal Reserve Bank in the US, is completely answerable to Parliament.  And no Board member is allowed to have an interest in private banks ... thus no conflict of interest.

I thought I'd slip that in, though who knows how any of us will end up when, generally speaking, vested interests rule and the fate of whole world inescapably depends on the actions of the Washington Empire/Wall Street.

WALLST8MY8BALL's picture

I find that things always get blurry in a hurry when in Amsterdam!

MrBoompi's picture

I think it's a matter of disclosure. For instance if the LED bulb reviewers tell the audience they work for Philips, I see no problem with it. They are experts and their opinions etc have value.

undertheradar's picture

It was not disclosed in the video Kassa Groen left on their site I linked to or anywhere else on that page. I haven't yet seen anything regarding disclosure like that from the folks at Olino. But I happen to know they do in fact work at Philips too.

jover's picture

Dont worry, at Davos they agreed the crisis was over!