Tag Archives: finance

The Libor scandal explained

Libor Scandal

According to news reports, UK banks fixed the London interbank borrowing rate (Libor) with the complicity of the Bank of England (UK central bank) at a low rate in order to obtain a cheap borrowing cost. The way this scandal is playing out is that the banks benefitted from borrowing …

Read More »

Full PFG CEO suicide note

“I have committed fraud. For this I feel constant and intense guilt… The forgeries started nearly twenty years ago… Should I go out of business or cheat… I guess my ego was too big to admit failure…” CEO Suicide note details: Full PFG Affidavit here:   Source: http://www.zerohedge.com/news/full-pfg-ceo-suicide-note

Read More »

Punk Economics 5: The world slows & euro crisis far from over

The Punk Economics series by Irish economist David McWilliams is a great way to get up to speed as to what is going on with the world economy in a quick, fun and easy to digest manner. Here’s Part 5: [youtube height=”400″ width=”550″]http://www.youtube.com/watch?v=wJ-l1LIdWOU[/youtube]   Click here to see: Part 1-3 and Part 4.

Read More »

‘Big five’ bank customers vent anger by taking their money elsewhere

Customer cuts up Barclays bank card

Angry bank customers have been voting with their wallets and bombarding co-ops, building societies and credit unions with applications for current accounts over the past week, after the NatWest computer meltdown and the Barclays rate-rigging scandal. Data compiled by the campaign group Move Your Money UK shows an explosion in requests to switch from …

Read More »

The Banker

[youtube height=”400″ width=”550″]http://www.youtube.com/watch?v=peX4dBEF0Vg[/youtube]   Hello, my name is Montague William 3rd And what I will tell you may well sound absurd But the less who believe it the better for me For you see I’m in Banking and big industry For many a year we have controlled your lives While …

Read More »

The history of the Federal Reserve system

The history of the Federal Reserve system 1

For better or mostly worse, the Federal Reserve has been governing the monetary system of the United States since 1914. The visual history below maps the rise of the Fed from its origins as a relatively minor institution, often controlled by Presidents and The Treasury to its supposedly independent and self-aware current …

Read More »