Month: May 2012

The lies of the EBA about how safe our banks are.

Some time ago in the Propaganda War series (Markets don’t Fail, Risk Weighted Lies, Balance Sheet Instabilities,  Toxic Bloom of Lies and The Banker’s Mexican Standoff ), I questioned the system of jargon which banks and their regulators use to assure us, and perhaps themselves as well, about the risks they run, and their claims of having …

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‘Cranky Extremists’ – The Bully-boy Chorus begins.

Predictably the bully-boy chorus, shouting insults and threats at the Greek people, has begun to swell.  One of the UKs best known Tory Bully-boys, Ken Clark, Justice Secretary(!), recently described those Greek politicians who are opposed to the terms of the EU enforced austerity measures, as “cranky extremists”. The object of this jibe was, of …

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Doing God’s Work

“I’m a banker just  doing God’s work.”  Lloyd Blankfein. CEO Goldman Sachs Nov. 2009 quoted in The Times. Last week I had a long conversation with a very old friend of mine who is now a Director of Youth and Family Services in one of NYC’s boroughs.  We hear so much about how Wall Street …

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