The Royal Bank of Scotland was once a famous Scottish institution; a bank with a reputation for prudence.But in October 2008, less than a decade after Fred Goodwin took over as chief executive, it came within hours of collapsing.
RBS later posted the biggest loss in UK corporate history – 24 billion pounds – which damaged the bank’s reputation for financial prudence and Scotland’s image as a global financial center.
Using previously unbroadcast footage of the bank’s top executives and interviews with bank insiders, this documentary tells the compelling story of a national catastrophe.
The crisis affecting the global economy and consequently the Euro during these months requires a radically different response from those actually envisaged and carried out. The way Europe and European governments and electors will handle the Greek crisis will set an important precedent for the next crises and their entailed risks of sovereign defaults. The probable decisions by the Greek government, practically left alone as other governments in similar deficit crises, are based on the massive sale of public goods to unspecified buyers in order to raise the money necessary to guarantee the next loans. This is not only a wrong decision in political terms, but also in practical terms. Politically we have had ample experience in the past quarter of century that deregulations and privatisations were not synonymous with efficiency, investments, modernisation and competition. On the contrary, there is a long list in Europe and around the world, of resounding failures and actual destruction of value by the same market forces that were extolled as the long lasting solution to any national and international economic problem. The last financial, market and economic global crisis has shown beyond any doubt that markets alone are not capable to rule themselves, that there is no invisible hand balancing the different interests and that public money has rescued the same oligopolies that were supposed to not to exist in a healthy competitive environment, fostered by a deregulated market. There is no free lunch and there is no unregulated market oriented to a common good.
Le rouleau compresseur médiatique de la dette justifie aujourd’hui la mise en place de mesures injustes : d’une part, des coupes violentes dans les salaires, dans les pensions, dans la fonction publique et les services publics, et des attaques sur le droit du travail ; de l’autre, un statu quo inacceptable en termes de régulation de la finance.
Un des objectifs principaux du collectif pour un audit citoyen de la dette publique consiste à fournir des outils de mobilisations pour dénoncer cette « arnaque » de la dette. Il est possible d’agir, et plus que jamais nécessaire d’agir, notamment dans les collectifs locaux. A commencer, bien sûr, par signer et faire circuler la pétition:
It’s an issue we and others have noted again and again: Years after the financial crisis, there have still been no prosecutions of top executives at the major players in the financial crisis. Why’s that? Well, according to a now-departed Justice Department official who used to be in charge of investigating such matters, the Justice Department has decided that holding top Wall Street executives criminally accountable is too difficult a task.
It's common knowledge that printing your own £10 notes at home is frowned upon by Her Majesty's police. Yet there's a small collection of companies that are authorised to create – and spend – more new money than the counterfeiters have ever been able to print. In industry jargon, these companies are called "monetary and financial institutions", but you probably know them by their street name: "banks".
The money that they create, effectively out of nothing, isn't the paper money that bears the logo of the government-owned Bank of England. It's the electronic money that flashes up on the screen when you check your balance at an ATM. Right now, this electronic money makes up over 97% of all the money in the economy. Only 3% of money is still in that old-fashioned form of real cash that can be touched.
Hard to believe, isn't it? Martin Wolf, one of the experts who sat on the independent commission on banking, put it bluntly, saying in the Financial Times that "the essence of the contemporary monetary system was the creation of money, out of nothing, by private banks' often foolish lending".
OCCUPY CORPORATISM IS NOT AFFILIATED WITH OCCUPY WALL ST & IT’S OCCUPATIONS THROUGHOUT THE U.S.
OccupyCorporatism is a free EZine/news source media site dedicated to exposing the Elite and their plans to Globalize our money, our Governments and our people. It is beyond our 1st Amendment Right to Free Speech. Our Republic is at stake.
Our Founding Fathers gave their lives, savings and everything they had to create our American Republic over 200 years ago. It is our duty, by our Declaration of Independence to be stewards of our Freedom.
The Lawful Bank provides a gateway to ‘The Alternative Monetary System’ (TAMS) - a new and independent monetary and banking system owned and controlled by its users/members. The objective of TAMS is to take back control of the money supply for the benefit of the people of the nations that choose to use it... and by so doing, reassert the sovereign right of the people to self-governance - for a nation cannot truly govern itself unless it is in full control of the means by which its money is created.
James Martinez reads a statement from representatives of a new global currency that is being announced and slowly integrated into our consciousness as a way to end the tyranny of the current banking systems.
Seizing foreclosed homes, activists are merging their lofty ideas with practical action. By Michelle Goldberg.
On Tuesday afternoon, Tasha Glasgow, an intermittently homeless 30-year-old mother of two, walked out the front door of the foreclosed Brooklyn house that Occupy Wall Street activists had seized for her and marveled at the hundreds of people outside, cheering in the rain. Clusters of balloons and “Welcome Home” signs adorned the tiny front yard. Zuccotti Park veterans in hardhats decorated with anarchist symbols trooped in with cleaning supplies, beginning a multi-day renovation. Someone hooked up a generator, lighting up Glasgow’s new Christmas tree. Several city councilmen stood on the porch with housewarming gifts.
The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing. The Fed didn’t tell anyone which banks were in trouble so deep they required a combined $1.2 trillion on Dec. 5, 2008, their single neediest day. Bankers didn’t mention that they took tens of billions of dollars in emergency loans at the same time they were assuring investors their firms were healthy. And no one calculated until now that banks reaped an estimated $13 billion of income by taking advantage of the Fed’s below-market rates, Bloomberg Markets magazine reports in its January issue.