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Tony Blair slammed as a ‘warmonger’ at Edinburgh event

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21st August 2015 Tony Blair came under fire at the Edinburgh International Book Festival tonight. The former Labour prime minister was branded a “war-monger” and an Israeli shill by emeritus professor at Oxford University Avi Shlaim, with reference to Blair’s failed role as the Quartet’s peace envoy in the Middle East. Slamming the Quartet …

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Libor scapegoat found guilty, sentenced to 14 years

In Blog by Ian Fraser0 Comments

3rd August, 2015 Cross-posted from Zerohedge (updated) Tom Hayes, the former UBS and Citigroup trader standing trial for his role in the manipulation of Libor, was today found guilty on eight counts of conspiracy to rig the benchmark in a London court, and sentenced to 14 years in prison. The …

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If you believe banking and finance need radical reform, vote Green

In Blog by Ian Fraser0 Comments

6th May, 2015 Having studied the manifestos I can now say it with some certainty. There is only British political party that is committed to reforming Britain’s broken banking system and still largely out-of-control City of London. The Green Party. Other parties such as the Conservatives and the Labour party do mention things like …

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Investor seeks to force accountability at Lloyds Banking Group

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14th April 2015 Lloyds Banking Group shareholder Michael Page may be about to force some accountability, and perhaps even a degree of honesty, at the state-rescued bank in which he owns a stake. In doing so Page — whose Guernsey-based aircraft leasing business was left massively out of pocket following the collapse of the scandal-plagued, and HBOS-backed, aviation …

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Osborne should break up RBS and Lloyds, not chase a fast buck

In Blog by Ian Fraser0 Comments

March 11th, 2015 Britain’s banks would never have been able to get away with behaving as badly as they have, to missell as many financial products or ruin as many viable business customers if their sector had been subject to proper competition, the former entrepreneur-in-residence at the Department of Business Innovation and …

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Hervé Falciani: HSBC leaks are the tip of the iceberg

In Blog by Ian Fraser2 Comments

February 14th, 2015 (updated February 20th, 2015) Hervé Falciani is the man behind the largest leak in banking history. In this interview, filmed in February 2014), he told the British filmmaker Nick Francis why he had little choice but to become a whistleblower after he discovered that the board of directors of …

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Bill Black: We’ve given bankers a licence to defraud

In Blog by Ian Fraser1 Comment

February 7th, 2015 As a U.S. Federal litigator, Bill Black had a pivotal role in ensuring that hundreds of the bankers behind the U.S. savings and loan crisis of the late 1980s were put behind bars. Since then, he’s become increasingly exasperated by his country’s failure to prosecute any senior bankers for the …

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FCA colluded to cover up alleged HSBC fraud

In Blog by Ian Fraser11 Comments

January 23, 2015 (corrected March 2, 2015. See note) When John Griffith-Jones and Martin Wheatley, chairman and chief executive of the Financial Conduct Authority, appear before the Treasury Select Committee at 9.30am next Tuesday, 27 January, the 13 MPs on the committee have an unprecedented opportunity to establish whether the FCA, just like its predecessor the FSA, is colluding …

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Paul Mason is right to be angry with RBS

In Blog by Ian Fraser0 Comments

November 12th, 2014 This is brilliant off-the-cuff reporting by Paul Mason, economics editor of Channel 4 News. It’s all very well for the Royal Bank of Scotland’s chief executive Ross McEwan to claim to be angry that some of his bank’s traders rigged the FX markets in order to rip off the bank’s …

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Was Mallett thrown to the wolves to save BoE’s skin?

In Blog by Ian Fraser1 Comment

November 12th, 2014 Guest Post by Rowan Bosworth-Davies One of the major unexplained elements in the foreign exchange (forex) rigging case is the level of knowledge of manipulative activity possessed by the Bank of England. If it, as a leading market participant and a regulator, had prior knowledge that the forex …

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Danny MacAskill takes stunt cycling Skye high

In Blog by Ian Fraser3 Comments

October 2nd, 2014 This is easily the best Danny MacAskill video ever. I particularly like the bit where the fearless stunt cyclist is perched on top of the Inaccessible Pinnacle, adjacent to the summit of Sgurr Dearg. The seeming nonchalance with which MacAskill climbs the “In Pin”, as it’s called, with his …