Well we’re deep into the next wave of bank and bail-out propaganda. Notable so far has been Channel Four covering themselves in glory once again. You can always count on Channel Four as a bellwether of how concerned the well to do chattering class is. Always to be relied upon to do the corporate world’s work …
CDOs- how the banks burnt our houses down – Part One Read More »
Mark Serwotka, general secretary of the Public and Commercial Services Union (PCS), the fifth largest trade union in the UK read the book and sent us this: “This is an excellent book. The Debt Generation cuts through the cosy consensus that there was no alternative to the bank bailouts, and is a timely reminder that …
A note of warning for those who saw or heard about C4’s Trillion Pound Horror Story. It’s a three part series commissioned by C4. A word of caution. The producer was Martin Durkin. A few years ago he made a series also for C4 called Against Nature which compared environmentalists to Nazis and was so …
Ireland now in talks with EU. It’s on the wires and the BBC. Eu officials said talk had begun. The European Commission hasn’t officially denied it. BBC reports figures for the bail out could be around 60-80 billion euros. That’s the news. More interesting is what the terms of the bail out will be. The …
Sometimes its hard not to think that we got our leaders from remainders and overstocks. And I think that is fast becoming the problem. They don’t trust each other we don’t trust any of them. Not one of them inspires confidence. How can they possibly hope to lead anyone anywhere. I wouldn’t follow them out …
Just thought I’d let you all know I was asked some pointed and worth while questions by a reader called Tomorrin. I have belatedly replied and thought some of you might find his questions worth a look. I hope my answers help also. You can find it at http://golemxiv-credo.blogspot.com/2010/10/who-are-bond-holders-we-are-bailing-out.html
European ministers said the plans for making bond holders share the costs of restructuring wouldn’t come in to force until 2013 and so won’t affect bond holders concerned about Ireland’s immanent default. Seems weak but I don’t thin it is. I think it is clever and gives Euro politicians there first advantage over the bond …
It’s one thing to fail, it’s quite another to be seen to fail and that is what happened at the G20. Two failures in one in fact. The G20 as a whole failed. It is quite evident that there is no possibility of an agreement or even cooperation. And within that failure America was seen …
Well boys and girls, Ireland is rolling over in the water, and Greece is venting steam as the water has now flooded its engines. The Greek government assured the world they had a plan. And they did, just not the one they told us about. It was, as I argued months ago, the Argentina plan. …
Mervyn King and President Obama are both talking today about the absolute necessity of collaboration and unity at the G20. They fear that the unity of purpose they think ‘stabilized’ the financial world after the first round of collapses is disintegrating into angry recriminations which may lead to the word that dare not speak its …
