This tag is associated with 5 posts

Ten years from Northern Rock, the real financial crisis is just beginning.

TEN years ago, a relatively obscure French bank, BNP Paribas, blocked withdrawals from two hedge funds. It was the beginning of the biggest financial crisis in 80 years. Within days, queues of worried savers were forming outside Northern Rock, a British bank that had specialised in lending 125% mortgages. Its rocky business model depended on … Continue reading

Could Scotland become a tax haven?

The most extraordinary casualty of the Panama Papers leak so far must be Iceland’s prime minister Sigmundur Gunnlaugsson, who has resigned following revelations about undeclared offshore bank investments in his wife’s name. You’d have thought he would have been more careful. Iceland is one of the few countries in the world to have prosecuted bankers … Continue reading

“Sell everything” – the next banking crisis is here. Hardly surprising since the same banksters are still in charge.

The economist at the Royal Bank of Scotland said the other day: “Sell everything.” A “cataclysmic” crash is coming in 2016, we’re told, and RBS is advising investors to get rid of their shares, buy bonds and basically run for the hills. I suppose if you were the bank at the centre of the 2008-12 … Continue reading

As RBS shares are sold at a loss, whatever happened to that £1.2 trillion bank bailout?

It should come as little surprise that the Government sell-off of some of its shares in Royal Bank of Scotland has apparently been accompanied by a billion-pound bung to the financial speculators who caused the crisis in the first place. That’s pretty much the story of the 2008-12 financial crash. It is an astonishing tale … Continue reading

Memo to Danny Alexander: It’s not final.

Read Iain in Sunday Herald and Herald Iain Macwhirter Columnist Sunday 9 March 2014 SCOTTISH independence. Aggreko warns of risks.” The Scottish front pages have been reduced to a proforma. They just fill in the dots. Alliance warns of risks, Standard Life warns of risks, RBS warns of risks … Lloyds … BP … Shell … Continue reading

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