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HSBC’s $1.9bn settlement sets (another) dangerous precedent

December 15th, 2012 Image: WilliamBanzai7 The ‘settlements’ that London-headquartered banks HSBC and Standard Chartered have reached with the US authorities over serious criminal offences — including sanctions-busting and aiding and abetting terrorism and the global drug trade — are a travesty of justice. Even The Economist, a publication of which I am not usually fan, had […]

December 15th, 2012 | Posted in Blog | Read More »

Book review: Going for broke

By Ian Fraser Published: Scottish Review of Books Date November 17th, 2012 It was intended as a memorial to the Scots who died in the Napoleonic Wars. But it wasn’t long before the incomplete replica of the Parthenon on Calton Hill was labelled ‘Edinburgh’s disgrace’. This was because the so-called National Monument was left half-finished, with […]

November 17th, 2012 | Posted in Article Library | Read More »

12-year-old Victoria Grant: “Never doubt that a small group of people can change the world”

October 21st, 2012 Twelve-year-old Victoria Grant explains why her homeland, Canada, and most of the rest of the world, have become enslaved by debt. She gave this remarkable six-minute speech on April 27th, 2012, at the Public Banking in America Conference, held in Philadelphia, Pennsylvania, USA. Here’s what SmartKnowledgeEU had to say about Victoria Grant […]

October 21st, 2012 | Posted in Blog | Read More »

Michael Hudson: how finance capitalism leads to debt servitude

October 19th, 2012 This is an edited transcript of a phone interview with Michael Hudson by Dimitris Yannopoulos for Athens News. It summarizes some of the major themes of Hudson’s new book, The Bubble and Beyond: Fictitious Capital, Debt Deflation and Global Crisis, published in the UK in July 2012.  Q: How has the financial system evolved into […]

October 19th, 2012 | Posted in Blog | Read More »

It’s time that errant bankers were made to grip the rails at the Old Bailey

October 18th, 2012 By Rowan Bosworth-Davies “Go where you will, in business parts, or meet who you like of businessmen, it is – and has been for the last three years – the same story and the same lament. Dishonesty, untruth, and what may, in plain English, be termed mercantile swindling within the limits of […]

October 18th, 2012 | Posted in Blog | Read More »

FSA plays dangerous game with relaxation of capital rules

October 10th, 2012 Today the Financial Services Authority formally relaxed capital and liquidity rules on UK banks in the vague hope this might kickstart lending and do something to ensure the UK economy can pick itself up off the floor. The Canary Wharf-based regulator also said that it would not require banks to hold extra […]

October 10th, 2012 | Posted in Blog | Read More »

Robert Jenkins: Puncturing bankers’ myths

September 26th, 2012 [Ian Fraser’s introduction] In this speech, Robert Jenkins blows apart the self-serving myths that bankers and their lobbyists have been peddling since the financial crisis ripped the financial system apart in 2007-. He also explains that ‘captured’ regulators and politicians have swallowed the myths whole. As a result, post-crisis regulatory reform is a mess […]

September 27th, 2012 | Posted in Blog | Read More »

The trouble with our banking culture

July 18th, 2012 Image by WilliamBanzai7 A friend who works for for Barclays told me what the culture is now like at such banks these days. In response to a question about how bankers have changed — in terms of culture, motivations, behaviour — over the past two decades, he said: “I have the advantage […]

July 18th, 2012 | Posted in Blog | Read More »

The Physical Impossibility of Death in the Mind of the Too Big To Fail

July 16th, 2012 Another great piece of subversive art by William Banzai 7

July 16th, 2012 | Posted in Blog | Read More »

Guest Post: The Libor crime scene will soon be expanded

July 16th, 2012 By The Left Banker Image: WilliamBanzai7 For the past 30 years, the global economy has built up increasingly vast amounts of public, private and household debt. This was to compensate for the fall in real wages and to avoid a repeat of the crisis of over-production of goods and services seen from mid-1970s […]

July 16th, 2012 | Posted in Blog | Read More »

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