The ludicrous pension being paid to the former RBS’s chief Fred Goodwin hides the scale of the problems at the bank and the further money being given to bail it out by the government (us). RBS reported a statutory loss of £40bn which falls to £24bn if technical issues relating to the acquisition of Dutch [...]
The recently discovered financial frauds carried out by Stanford and Madoff are the tip of the iceberg. With over 10,000 hedge funds in the US alone and many more in Europe and in the offshore tax havens there will be many more conmen uncovered in the months and years ahead. The hedge funds are an [...]
The $60bn hedge fund scam as well as being a massive waste of resources – enough to pay for a clean water supply for every poor person on the planet – will bring further problems for the financial markets. It was quite incredible that such a fund should be the home for investments for banks [...]
