Category Archives: CreditCrunch

The Logic of Puppets…

For those of you paying attention to the puppet show, I hope you can ask yourself today why Mr Osborne yesterday basically called into question the whole benefits system due to the mindless acts of 3 individuals who killed 6 … Continue reading

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GM is Bad For You

Original Link: The Guardian Oh wait, I was thinking of Genetically Modified foods, maybe General Motors is better? It was once the corner stone of American capitalism and today it is no more. The carmaker has received $19bn of emergency … Continue reading

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Deeper than simple greed

Original Article – Guardian Could this piece be full of any more wordy nonsense? It’s very hard to get to the bottom of what this chap is saying but suffice to say his premise and kick of point is all … Continue reading

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World Bank tells G20 finance ministers fix banks before boosting growth

Original Article – Guardian The focus is all wrong – see if you can spot it: The president of the World Bank, Robert Zoellick, warned bickering leaders of the G20 countries that they risked “doing too little, too late” to … Continue reading

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Printing money is the right way to get us out of this mess

Full article Observer Although everybody is rushing to say how unusual the approach is, in fact it is only a variant of the way Britain used to run the financial system until it fell into the hands of the market … Continue reading

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Stop the bus – I want off.

This week has seen the following three momentous, and I use that word sincerely, events in the world of finance capital and capitalism in general. 1) AIG were bailed out – again to the tune of $30bn. 2) The UK … Continue reading

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These bankers are lucky they’re not going to jail

Article published in Observer – 1.03.09 Original article by Andrew Rawnsley “Assuming it is out of the question to hang, draw and quarter Sir Fred Goodwin, pluck out his intestines while they are still warm and wriggling, stuff them into … Continue reading

Posted in CreditCrunch, economy | 1 Comment

Toxic asset deal yet to be agreed, Lloyds says

Headline: Toxic asset deal yet to be agreed, Lloyds says Full Article: ( Guardian ) Whenever economic conditions do begin to normalise, however, we believe we will be in a very strong position to reap the benefits. – Sir Victor … Continue reading

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Martin Kettle – Brown’s Own Doing.

Open letter to Martin Kettle ( Guardian ), Martin, in the article (http://www.guardian.co.uk/commentisfree/2009/feb/13/gordon-brown-financial-crisis ) you say: But it would then say something Brown never allows: that responsibility for the banking crash is systemic and must be shared, including by Britain … Continue reading

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British Airways Cut Capacity

Story: BA to cut capacity after poor peak season hammers profits Original Story ( Guardian ) “BA will reduce its capacity by 1% next summer, measured in the total distance its fleet will cover, by reducing the number of flights … Continue reading

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