Archive for November, 2009

Brown, Tobin & G20: PR Bluster

Posted on November 08th, 2009 in Banking Crisis, UK Crisis, World Crisis

Brown’s “big” proposal to tax financial transactions – the so called Tobin tax – has been met with opposition by almost all the finance ministers of the G20. The reason is obvious; it actively discourages the trading of financial assets. It is this trading in 2009 of assets on the back of a new financial [...]

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Billions More for the Banks: More Cuts for Us

Posted on November 03rd, 2009 in Banking Crisis, UK Crisis

The announcement that £31.3 billion more was to be given to the banks means more cuts in jobs and public services for us. It also, points to the weakness of the banking system once the super investment banking profits, made from a huge rally in financial assets since March of this year, have been stripped [...]

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  • @TheLeftBanker

    • RBS £2 billion loss not as BBC reports £776 million. Twice as big as forecast. 3 hours ago

    • @BharatKAzad I think so with Portugal 6 months behind and Spain another year 21 hours ago

    • Greece mark II: Portuguese opposition demands €30 billion more of a bailout to keep country afloat 21 hours ago

    • @aidanskinner hedge funds been putting this trade in droves spreading risk over several banks. They now hold about 30% of Greek debt 21 hours ago

    • Greek debt swap deal may fail as hedge funds & other investors would be better off with default and collecting insurance it would trigger 22 hours ago

    • Euro crisis goes global: Preliminary Chinese manufacturing figures for February shoes a contraction. 23 hours ago

    • Euro area manufacturing & services output drops in February. Recession on the way. 23 hours ago