The News In Shorts

How the news would look if everyone stopped waffling and told the truth.
Showing posts with label Banks. Show all posts
Showing posts with label Banks. Show all posts

Tuesday, 1 April 2014

Crooked Coalition Defrauds The Country.

Vince Cable, pictured above appealing to heaven to save his tattered reputation, has been trying to defend the abysmal Royal Mail deal he has foisted on the country. The bottom line is that he and his Tory pals deliberately undervalued Royal Mail so their rich mates could make a killing and pass some of the stolen money on to the Tories and the Lib Dems in "donations". The banks who "advised" on the sales and promised they wouldn't buy the shares simply to flog them on for a nice profit did exactly that as fast as they could and pocketed a cool £750 million of taxpayers money in a single day. Vince's criminal boss, David Cameron, tried to come to the rescue by telling the country that the sale was "a good deal for the taxpayer" but failed to explain how losing three-quarters of a billion pounds could possibly described as "good" except in terms of public money being laundered by a criminal government intent on asset stripping the entire country. The Labour party is demanding Cable's immediate resignation but this hardly going far enough - both the Tory party and the Lib Dems should be hauled into court and prosecuted for fraud before they turn their malign attention to the privatisation of the NHS. These people are no better than common thieves hiding behind the threadbare alibi that privatisation is good for the country. Privatisation is nothing more than a scheme thought up by criminal bankers and criminal politicians to divert taxpayers money into their offshore tax free bank accounts. It inevitably leads to rip off prices, worse services and a loss of tax revenue and is deliberately designed to transfer money from the poor to the greedy, selfish and already far-too-wealthy. This is not a political principle it is a crime pure and simple.

Sunday, 24 February 2013

Iceland Still Being Ignored By World's Press.

For those amongst us who can't imagine what the alternative to rewarding the banks for crashing the world economy might be look at the picture above. It was taken in Iceland as the people there said an emphatic "NO" to picking up the bank's bad debts and "NO" to their politicians who wanted to put them in debt for the rest of their lives. Essentially the people of Iceland quite rightly pointed out that the banks are private companies and do not have an automatic right to public funds in order to avoid the consequencies of their own mistakes. Nor do politicans have the right to impoverish their own citizens simply to protect their wealthy mates. There hasn't been much time devoted to this story over the last five years as the media have concentrated instead on the so-called "Arab Spring." They wouldn't like you to know too much about it because, unlike the "Arab Spring," the Icelandic revolution has been a resounding success. Not only have the Icelandic people told the banks and their political sidekicks to take a hike, it has been recognised that, under international law, they had a perfect right to do so. This is what the soveriegnty of the people means. In Britain and elsewhere across the world politicians have demonstrated quite clearly that they have no interest in the soveriegnty of the people, they care only about their rich cronies in the banks and in protecting their own priviliged positions. The media have been compicit in this confidence trick that they like to call "government" and it is hight time that this story was given the publicity it demands. It is time to wipe the scum off the top of the political brew once and for all.

Monday, 4 February 2013

The Great Pension Rip-Off.

In order to receive a state pension on which you can survive, the government tells us, you will need to work longer and pay more. The reason, they say, is because there are just too many old people in the country and they are living longer. It's all the fault of that pesky "baby boom" generation that came along after World War II. Of course 50 years ago we were told that was why we needed immigration into the country and it has continued at an ever-accelerating pace ever since. Yet, despite this, we seem to be in exactly the same position that we were before. The truth is that the wealthy simply don't want to pay taxes just to benefit the peasants. Having manufactured this "crisis" in state pensions they now tell us that we need private pensions that will augment and, eventually they hope, replace state provision completely. These pensions will be created, sold and managed by the banks - those paragons of probity and trustworthiness that we've all come to love so much. The money that we pay in will give them the wherewithal to continue to do what they love best - gambling with someone else's money and extracting lucrative "management fees" for doing as little as possible. In return for controlling your money for an entire lifetime they will then sell you an annuity with a pitiful rate of return that, they hope, will mean you will never live long enough to get your money back. Up until recently you at least had the choice to keep control of your own money if you chose and to make whatever investments you thought fit. The banks would always insist that "best advice" was to save into a pension, but that advice was never true. Now the government, having consulted closely with the banks, has taken that choice out of your hands. Now you have to give the banks your money whether you want to or not and then accept whatever terrible rate of return their annuities yield. This is nothing more than a pact between the greedy who don't want to pay taxes and the even greedier who want to perpetuate a failed financial system that works only to their benefit.

Sunday, 6 January 2013

George Osborne: "Saviour Of The Nation."

Having taken a wrecking ball to the economy George Osborne is poised to swoop in and save us all in the nick of time. This will be done, it appears, by a two-pronged attack on our economic woes. First George will be giving up his entitlement to family allowance. Of course under the new rules governing family allowance he would no longer be entitled being a millionaire and all so he's not actually giving anything up at all. Still, as the rest of us wrestle with rising utility bills, lower wages, less job security, longer working lives, vanishing healthcare provision and ever higher taxation by stealth, its nice to see that George has honoured the "we're all in this together" mantra. The fact that he handed himself a nice £40,000 per year tax break earlier this year shouldn't distract us all from his basic nobility. Nor should the fact that he and his family pay for nothing courtesy of the taxpayer distract us from feeling his pain. Thirty quid a week could make all the difference to him and his family. The second prong of this attack lies in education. High Street banks - you know, the ones who crashed the world economy, pay themselves lottery-win sized bonuses for failure, hold out their hand for taxpayers money when they bankrupt their own businesses and indulge in various financial crimes - are to visit schools to teach our children all about finance and economics. Neoliberal propaganda about the "free" market and the need for less financial regulation is to be piped directly into our children's minds free from the meddling of "leftie" teachers. Thus the insane economic theory that brought the world to its knees is to be preached in our classrooms by its most ardent acolytes while our children are fed a diet of economic mumbo-jumbo. Sounds delightful.

Friday, 29 June 2012

Banks And MP's Still On The Fiddle.

Sir Mervyn King outlined for us all today what we already knew - that the banks have been taken over by a bunch of crminals and spivs. Not only have they been fraudulently manipulating interest rates, they have also been "selling" useless insurance policies to small companies seeking loans in a rerun of the PPI scam. These were the same people who, we were told, had to have huge bonuses to prevent them from leaving their jobs and going elsewhere. We should be so lucky. They are criminals, pure and simple, and should be in prison where they belong. That they are not is due to the fact that no government, with the exception of Iceland, has had the backbone to do the right thing. In Britain, however, there seems to be another reason why action has not been taken and that is the fact that many of our MP's and government ministers are crooks themselves. Remember the expenses scandal? Remember how contrite our MP's were, apologising, wringing their hands and begging for our forgiveness and understanding? It now turns out that the money they paid back was immediately claimed back by them in a secret deal brokered between themselves. Criminals overseeing the nefarious activities of other criminals? No wonder nothing was ever done. These are the activities of our "betters." People with an overwhelming sense of entitlement who make benefit scroungers look like rank amateurs and will pauperise the whole world in order to save a system that allows them to pursue their criminal careers. It is time to turn the whole lot of them out into the gutter where they belong.

Wednesday, 31 August 2011

Banks Warn Homeowners.

Two high street banks, both of whom were bailed out at taxpayers expense, are warning their customers to cut back on household budgets in order to service their mortgage debt. "People who have been desperate enough to take on huge mortgages to buy into a house market deliberately inflated by us should make sure they've got their priorities right," a banking representative warned, wagging a finger at our reporter. "The most important thing in any efficient economy is that banks should be allowed to run amok whenever they like and that they should have full and unfettered access to everybody else's money." Asked about bankers bonuses, the spokesman stated firmly; "Bankers bonuses are a necessary part of the banking system. If we don't pay them how will we recruit the calibre of reckless gambler needed for our business? One of the main skills bankers need is barefaced cheek and paying bonuses helps people to do this without blushing."

Banks Discover That Debt Is a Bad Thing.

The Bank of International Settlements has stated today that debt is a really, really bad idea and should be stamped out. Asked why banks have been actively encouraging debt for the last 30 years or so a spokesperson for BIS told this reporter; "Encouraging debt, us? You can hardly blame us for private sector business, national governments and ordinary housholds being in debt. The fact that we used other people's money to gamble, created a world-wide property bubble, made borrowing ridiculously easy and then demanded that taxpayers should bail us out isn't an excuse for people to run up debt. We should have been regulated properly. Of course, it's too late for that now and the only solution is more deregulation so we can make one big score and solve all our problems overnight."

Vince Cable Finds Banks To Be Crooks.

Vince Cable has discovered that banks are actually a bunch of crooks, it was revealed today. "They are trying to dodge regulation by citing the present economic chaos that they caused in the first place," the Minister for Funny Business stated in apparent amazement. "Why would they do such a thing?" he asked wringing his hands with anguish. A spokesman for the Banking Association, Anthony Fiddler, commented; "Now is not the time for regulation with all this economic chaos going on. Regulation could mean that we're no longer allowed to indulge our addiction to gambling with other people's money and where would that leave us all?" Asked to intervene in the growing row, Prime Minister Without Portfolio David Cameron told the Italian press, "The banks have a point. Gambling with other people's money is an honourable profession. The Tories do it everytime we get elected into office."