It’s a long time now since the 2008 banking meltdown. A bank ‘worth’ more than Belgium’s total GDP went bust yesterday – Dexia. It had previously passed both rounds of the EU stress tests, the first so farcical the Greek banks passed! We’ve recently seen lots of hoo-hah over the trivial issue of phone hacking – disgusting as this was it’s only a reflection of the general scum-standards of our public debate. You have to dig to get coverage of the stuff that could shatter us all – that is what the really rich scum have been doing.
HBOS – once the entirely conservative Halifax and Bank of Scotland – has cost us all wads of money in bail-out. Clown Brown and other toadies (Blair now being a bag man for JP Morgan Chase and making undisclosed millions) were in on the whole shebang and Cameron and other oilies are no doubt no different. There was substantial criminality at HBOS, and, in-business-as-usual, they sacked the man waving red flags. You can seek out the blogger Ian Fraser for the nature of the beast. I’m familiar with the basic scam from forensic enquiry. Many ‘money moves’ across the planet look like basic scams I used to investigate – typical inside jobs in which dud loans or insurance pay outs are authorised by an insider networked to the recipients. Some of this turned out to be legal,as in some creeps who ran a management development company that charged their employers massive fees (they owned the MD outfit), but many didn’t cover their tracks so well.
I think our cops should be involved in tracking down what happened in the banks. There are some active enquiries, but reporting is negligible. My guess (as economist) is that we will discover our tax money has been lost in the course of the next year or so. This is likely to coincide with increased street protests. I’m pretty sure now that the money has gone in covering-up criminal activity (or criminal lack of due diligence) already. Politicians, the FSA and banksters are all involved. This is not financial crisis but a criminal one, indeed I suspect a treasonable situation. Countries have been sold down the river and into a form of debt peonage.
I’m no anarchist or even leftie but I’m going to join a street protest. My protest concerns the collapse of democracy and the lying state of our society. Lies have become first-nature all over the place, from junk I’m supposed to say about the quality of university education, police statistics and the briefed dunnage politicians come out with. We have a Home Secretary daft enough to make a mistake over a cat, and Cameron talked like a complete idiot or stooge on the banks on Today. I want a police enquiry into the lot of it all (yeppers – twice over)!
I fancy we are about to see the appalling spectre of police standing against democracy. I don’t mean against Anarchists-R-Us. I mean against ordinary people who clock what’s really going on. A mate of mine is out in Tampa trying to picture who is ‘doing Occupation X’ and I’m going for a look in Manchester. It would be interesting to know how many cops have any clue why some people will make an effort for democracy and how informed they are on current banksterism and economics in reaching any conclusions. Most won’t go much beyond the overtime calculation I guess.
The moral maze on this is complex. The basic aim is to get capitalism, fair wages and democracy back and yet some protesters probably want to see all this fall, not realising we are back to serfdom already. I’d just like to see some of the real thieves nicked – something that would have happened already in a society under rule of law.
Can you show me any society where white collar crime is investigated with the same vigour as blue-collar crime?
Absolutely not – the US does a better job and the Swedes at least got rid of most of the banksters involved in their collapse – but the general course of events is no investigation. One of the guys who advised RBS to take over the crocks it did is now a major player for HMG.
Our police, doctors and nurses are all subject to much more supervision than other ‘professionals’. If the banks really produced wealth for the rest of us it wouldn’t matter. That they don’t and always end up in the money themselves and have unbalanced democracy demans forensic enquiry.