It is incredible how the reports of corruption in Britain are now going from bad to worse almost every single day. HSBC’s original lame excuse for the massive tax evasion engineered by its Swiss bank in Geneva was that it was previously run on a ‘federated’ basis so that central controls were much looser. Yet […]
Posts under ‘Finance’
This election should be about ridding Britain of the stench of corruption
Feb 24th, 2015 by Michael Meacher.
Explaining the Euroland-Greece agreement
Feb 23rd, 2015 by Tom Gill.by Jacques Sapir (translated from the French by Tom Gill) The agreement reached on Friday 20 February between Greece and the Eurogroup has led to conflicting commentary. It is necessary, in order to understand this agreement, and to analyze it, to put it into context, both in the short and in the long term. This agreement […]
Share:
A slow-burning revolution is starting to overturn neo-classical economic orthodoxy
Feb 22nd, 2015 by Bryan Gould.As the world struggles to deal with threatening outbreaks of violence – most dangerously, in the Middle East and the Ukraine – another less dramatic and slower-burning revolution is getting under way. This revolution does not threaten violence – but it does promise change, and almost certainly change for the better. The revolution that is […]
Share:
Why isn’t HSBC being prosecuted?
Feb 16th, 2015 by Michael Meacher.The differential treatment between those low-paid workers who fraudulently claim benefits and those top bank executives who launder hundreds of millions of pounds for drug cartels or pariah states tells you all you need to know about the class basis of justice in the UK. A person claiming benefits while working can get up to […]
Share:
HSBC is out of control and should be broken up
Feb 15th, 2015 by Michael Meacher.The lesson of the HSBC debacle is not merely that tax evaders must be hunted down much more relentlessly, but that in its present form it’s ungovernable. It’s no good saying HSBC was run in a ‘federated way’, but now management has been tightened up (is anybody really taken in by that anyway?). We were […]
Share:
Euroland’s Utopian foundations shaken by its central bank shirking its duties
Feb 12th, 2015 by Ann Pettifor.The late-night decision on 4 February by the European Central Bank to reject Greek bank collateral for monetary policy operations will, I confidently predict, precipitate not just a run on Greek banks; not just greater price instability across the Eurozone – but ultimately, the collapse of the fantastic machinery that is the ‘self-regulating’ economy of the Eurozone. […]
Share:
Why are US, France & Belgium starting prosecution against HSBC but not the UK?
Feb 12th, 2015 by Michael Meacher.The evidence of wrongdoing published this week against HSBC Suisse is so overwhelming that formal investigation prior to prosecution might seem a foregone conclusion. It is indeed already happening in the US, France, Belgium, Spain, even Argentina. But not in the UK, even though HSBC is a British bank. So why the reluctance of the […]
Share:
With ballooning debt and oversized banks, another financial crash isn’t far off
Feb 8th, 2015 by Michael Meacher.In election Britain this last week has been consumed with business and finance, mainly the hedge funds, lambasting Labour for being ‘anti-business’, as though massive indulgence in tax avoidance and continued insistence on de-regulation of finance were the conditional requirements of a successful global economy. Actually they are the forerunners of the next financial collapse […]
Share:
Tsipras versus Cameron: people versus bankers
Feb 3rd, 2015 by Michael Burke.David Cameron became the first elected politician in Europe to criticise the election of the Syriza government in Greece and was quickly followed by George Osborne. This might seem odd as Britain is outside the Eurozone and has limited direct influence over its policies. But the urgent and unrestrained nature of the criticism is very revealing about what is at […]
Share:
Democracy versus capitalism – how Greece should survive
Feb 2nd, 2015 by Michael Meacher.It is difficult for us to comprehend what the Greek people have been subjected to. After the 2008 crash UK unemployment rose to 8%; in Greece it is still 26% with youth unemployment at over 50%. UK GDP fell by 9%; Greek GDP collapsed by 25%. What is remarkable is not the momentous Syriza victory […]
