Posts Tagged ‘Bankers’

We can end the despotism of finance, at a price

by Ann Pettifor.

After the 2008 global financial crisis and panic, the international banking system very nearly collapsed. In the days after Lehman Brothers failed, panic prevailed. ATMs were on the very brink of denying punters access to their own money. A prominent international banker advised his wife to withdraw all their funds from the banking system. To […]

Animal spirits in the stockmarkets don’t add up to economic recovery in the real world

by Michael Meacher.

There is an extraordinary combination at the start of 2014 of souped-up credit markets and an anaemic economy. The urge to talk up the economic recovery after so many false starts has turned the heads not only of investors but also of the economic commentators who show the same herd instinct of prophesying long-term continuing […]

Who can you trust in Britain today?

by Michael Meacher.

The latest evidence that GCHQ in their systematic electronic harvesting of information went far beyond what the law allowed, and were acutely well aware of this, is certainly troubling, but perhaps not surprising. The mood and culture in Britain today in the use of power is push your advantage to the limit and beyond – […]

The real enemy within

by Grahame Morris.

Bold and radical, Ed Miliband announced his plan to tackle vested interests within the energy market, a promise to fight for ordinary people who for years have complained about the rising cost of gas and electricity. On the same day as Ed Miliband was standing up against the Big Six energy companies, David Cameron and […]

What should bankers be paid?

by Michael Meacher.

As bankers’ pay + bonuses + long-term incentive schemes + share options + pension largesse begins to head north again as though the biggest financial/economic crash caused by them hadn’t happened and as City bonuses rise above £4bn this year, what does the public believe that bankers should be paid? Remarkably, nobody seems to have […]

They Owe Us! 14 June, 12.30pm, Canary Wharf, London

by Newsdesk.

We are not all in this together. Look at Canary Wharf, home of some of the world’s biggest banks, located on a private estate in east London. Its shining glass towers are entirely within the borough of Tower Hamlets, where four out of ten children are growing up in poverty. Like so many councils under the coalition […]

When are we going to get serious with the bankers?

by Michael Meacher.

Andrea Orcel, the new head of investment banking at UBS and formerly at Merrill Lynch the adviser to RBS on the takeover of ABN Amro in 2007 (for which he got a fee of £7.5m, but cost taxpayers £45bn in the subsequent bailout) – he no less is now candid enough (or has the gall […]

Investment banking award: for illegal interest rate manipulation

by Newsdesk.

It was the Investment Banking Awards last night, but the organisers had somehow neglected to include a prize for illegal interest rate manipulation. Fortunately help was at hand. (Hat-tip: New Left Project)

When are banksters going to be punished?

by Michael Meacher.

Peter Cummings (you won’t have heard of him – that’s the point) is, singled out alone, taking the rap for the misdeeds of the whole banking class and their behaviour, arrogant and reckless at worst and severely negligent at the very least, which has impoverished the great majority of British people (virtually everybody except themselves) for the […]

There’s nothing to stop another financial crash

by Michael Meacher.

One of the great unspoken scandals of the post-2007 financial crash era is that no reform of the banking system has been put in place, though domestically the bank bail-out will cost UK taxpayers some £1.4 trillions by 2015 and globally the crash nearly collapsed the world economy. Despite those gigantic detriments, 5 years on […]

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