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£13 trillion hoard hidden from taxman by global elite

On July 21, 2012, in Greed, by Editor

Study estimates staggering size of offshore economy. Private banks help wealthiest to move cash into havens. – By Heather Stewart, The Guardian, UK The Cayman Islands: a tax haven for the rich and corrupt. A global super-rich elite has exploited gaps in cross-border tax rules to hide an extraordinary £13 trillion ($21tn) of wealth offshore […]

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Timeline: Barclays’ widening Libor-fixing scandal

On July 3, 2012, in Scandal, by Editor

Libor, the London inter-bank lending rate, is considered to be one of the most crucial interest rates in finance. – The BBC, UK Libor, the London inter-bank lending rate, is considered to be one of the most crucial interest rates in finance. It underpins trillions of pounds worth of loans and financial contracts. So, when […]

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Bank inquiry launched after Libor rate-rigging scandal

On July 2, 2012, in Scandal, by Editor

- The BBC, UK Prime Minister David Cameron has announced a full parliamentary inquiry of the banking sector following the Barclays rate-rigging furore. He told the House of Commons the manipulation of the Libor interest rates had been a “scandal”. The review will run alongside a narrower inquiry specifically into the Libor market, also announced […]

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Banking scandal: ‘The rot was widespread, the corruption endemic’

On June 30, 2012, in Scandal, by Editor

Urgent action is being taken by the coalition to tackle the incompetence and greed exposed by interest-rate rigging affair. – By Vince Cable (MP), The Guardian, UK Last week’s banking scandals demolished a convenient myth: that the banking crash was all the fault of a few colourful rogues like Fred the Shred of RBS and […]

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The Barclays scandal is not ‘wholly inappropriate’. It’s a crime.

On June 29, 2012, in Scandal, by Editor

If the authorities were consistent, they would punish the banks just as severely as they reacted to last year’s rioters. – By Jonathan Freedland, The Guardian, UK Even if he hasn’t yet debased the coinage, Bob Diamond has certainly done his bit to debase further the language of British public life. Confronted with a clear […]

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Shoddy and deceitful: Bank of England Governor Sir Mervyn King blasts Britain’s banks

On June 29, 2012, in Scandal, by Editor

David Cameron rules out Leveson-style inquiry into banks. – By Joe Murphy, Evening Standard, UK Sir Mervyn King today lashed the “shoddy and deceitful” behaviour of Britain’s banks, as yet another scandal heaped disgrace on some of the City’s most trusted names. The Bank of England governor demanded a “real change in the banking industry […]

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Why I Am Leaving Goldman Sachs

On March 14, 2012, in Greed, by Editor

- By Greg Smith, The New York Times, US TODAY is my last day at Goldman Sachs. After almost 12 years at the firm — first as a summer intern while at Stanford, then in New York for 10 years, and now in London — I believe I have worked here long enough to understand […]

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How to rig an election

On March 3, 2012, in Election, by Editor

A brief guide to electoral fraud for the busy despot. – The Economist, UK THE only poll that counts, supposedly, is election day. But for the sophisticated vote-rigger that is terrible advice. Election day is too late. If you go around beating up your opponents’ voters, stuffing ballot boxes and making up results, someone somewhere […]

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How to steal an election

On March 3, 2012, in Election, by Editor

Electoral fraudsters have become more cunning, but dirty politics is a bigger worry. – The Economist, UK IT WAS another good day for North Korea’s Workers’ Party. On July 24th 2011, amid music and gongs, the late Kim Jong Il shuffled past queuing throngs to cast his vote in the country’s local elections. Like everyone […]

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Former Israel PM Ehud Olmert indicted for corruption in property scandal

On January 6, 2012, in Corruption, by Editor

Former Israeli prime minister Ehud Olmert was on Thursday indicted alongside a number of other people for allegedly taking bribes in a massive property scandal, judicial sources said. – The Telegraph, UK The allegations stem from Olmert’s tenure as Jerusalem mayor and will add to the woes of the former premier, who is already on […]

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