Posts Tagged ‘Bankers’

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 […]

From BCCI to Standard Chartered: a brief alternative history of investment banking

by David Osler.

The Bank of Credit and Commerce International, which collapsed in 1991, was not widely known as the Bank of Crooks and Cocaine International for nothing. True, the Bank of England was a bit sniffy about it, largely on account of its connections to the Middle East, and refused to grant BCCI full banking status. Neverthless, the regulatory authority […]

Why are the Tories so coy about a judge-led inquiry?

by Michael Meacher.

Parliament was at its worst yesterday. The mud wrestlers Osborne and Balls were so dementedly determined to lay toxic blame on each other for the shocking LIBOR scandal that the City escaped with hardly a bruise to its name. The difference between a judge-led inquiry and a special parliamentary select committee inquiry is not that […]

Banks need not just a few sackings, but wholesale restructuring

by Michael Meacher.

It’s not often one agrees with the Institute of Directors (IoD), but on this occasion they are right (as far as it goes) to say: “It is high time for a clear-out of the leaders who created this mess, and the should be replaced with new blood”. From the IoD’s point of view no doubt […]

Banks inquiry – e-petition now over 10,000 strong

by Ann Pettifor.

Just after noon today the 10,000th person signed our e-petition [click here to sign] for an independent judicial inquiry into the banks’ misdeeds and ethics, and into the role of the British Banker Association.  Our heartfelt thanks to all who have supported this initiative, which has undoubtedly had an impact on the political scene. The […]

Diamond should be prosecuted and, if convicted, jailed

by Michael Meacher.

If there is one thing that produces boiling anger amongst the general public, it’s that the bankers who’ve brought this country to its knees have walked away unpunished. Despite criminal negligence, if not outright incompetence and irresponsibility, which has cost millions their jobs, pay cuts and loss of public services, they get off scot-free after […]

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