Posted by seumasach on July 6, 2012
6th July, 2012
The cost of Britain’s controversial private finance initiative will continue to soar for another five years and end up costing taxpayers more than £300bn, according to a Guardian analysis of contracts that were sanctioned by the Treasury.
Posted in UK economy | Tagged: bankrupt Britain, financial fraud | Leave a Comment »
Posted by seumasach on July 4, 2012
4th July, 2012
The Libor scandal, thus far focused on British-based Barclays bank, has revealed that global capitalism functions not as a free market, but as a rigged market controlled by contending groups of corporations, cartels and multi-billionaire speculators.
Posted in UK economy | Tagged: bankrupt Britain, financial fraud, libor scandal | Leave a Comment »
Posted by seumasach on July 4, 2012
1st July, 2012
Senior Tories were dragged into the interest rate-fixing scandal last night as fresh evidence emerged that the banking industry denied there were any problems with “the integrity” of Libor five years ago.
Posted in UK economy | Tagged: bankrupt Britain, financial fraud, libor scandal | Leave a Comment »
Posted by seumasach on April 25, 2012
24th April, 2012
The high-stakes game of lost-and-found for the missing $1.6 billion MF Global funds apparently reached a conclusion on Tuesday.
Posted in Financial crisis | Tagged: financial fraud, MF Global | Leave a Comment »
Posted by seumasach on April 22, 2012
Paul Craig Roberts
Americans, the British, and Western Europeans are accustomed to thinking of themselves as the representatives of freedom, democracy, and morality in the world. The West passes judgment on the rest of the world as if the West is God and the rest of the world are barbarians in need of chastisement, invasion, and occupation. As readers know, from time to time I raise questions about the validity of the West’s extreme hubris.
Posted in Financial crisis | Tagged: End of empire, financial fraud | Leave a Comment »
Posted by seumasach on March 3, 2012
Matt Taibi
2nd March, 2012
It looks like Bank of America might have started circling the drain before the Occupy movement even had a chance to launch its campaign against the company. For weeks now there have been ominous signs of trouble at the bank, and yesterday we heard yet another dark piece of news.
Posted in Financial crisis | Tagged: Bank of America, financial fraud, no more bailouts-put banks into receivership, no more wars!-no more bailouts! | Leave a Comment »
Posted by seumasach on February 7, 2012
Posted in Uncategorized | Tagged: economic collapse, End of empire, financial fraud, paul craig roberts, US Bureau of Labor Statistics | Leave a Comment »
Posted by seumasach on February 4, 2012
Paul Craig Roberts
If you have any money and you want to understand the lies that “your” government tells you with statistics, subscribe to John Williams shadowstats.com.
Posted in Financial crisis | Tagged: economic collapse, End of empire, financial collapse, financial fraud, institue for political economy, john williams shadow stats, paul craig roberts | Leave a Comment »
Posted by seumasach on February 18, 2011
Posted in Financial crisis | Tagged: financial fraud | Leave a Comment »
Posted by seumasach on February 15, 2011
Jim Willie
9th February, 2011
With the advent, then the continuation of the Quantitative Easing exercise in hyper-inflation and capital destruction, the US Federal Reserve has perhaps taken its deeply damaged reputation as a central banker and decimated it into shreds. They have lost the respect of the world, more so outside the nation’s borders than inside. The financial sector and politicians seem unable to stop showing deep reverence for the post, even licking the Chairman’s boots whenever he appears before the USCongress. Recent hints of contempt in WashingtonDC are encouraging. He has not made a single correct forecast on major items. The USFed in short has lost control. See the rising bond yields, which torpedo the housing ship, badly listing as a derelict vessel. The USFed seems thoroughly content to rescue the big US banks, whose wretched condition cannot possibly be rectified, even if such a rescue results in global price inflation and revolts. The decision made after recognition that a recent QE chapter has failed is clearly to repeat it. When QE2 is exhausted or deemed a failure, expect QE3 at the doorstep. This behavior exhibits insanity. The February package of Hat Trick Letter reports includes a special report entitled “USFed as Agent of Destruction”that elaborates on the deep damage.
Posted in Financial crisis | Tagged: economic collapse, financial collapse, financial fraud | Leave a Comment »
Posted by seumasach on September 30, 2010
Matthias Chang
30th September, 2010
Basel Accords III is another crude endeavour by BIS and Global Too Big To Fail Banks to cover up their scams and shore up the global derivative casino.
Part 1 – The Mechanics of the Derivative Scam
The fact that common folks in the US and other developed countries have not come out in arms to lynch the central bankers and their accomplices in Wall Street and other banking centres is an indication how effective the financial elites have been able to hoodwink and confuse the masses.
Posted in Financial crisis | Tagged: financial fraud | Leave a Comment »
In These New Times 