rogues to put in the gallery

james armstrong james36armstrong at
Wed Aug 3 19:20:37 BST 2011

extract from ROBERT PESTON  writing,
in ‘Who Runs Britain’,


(  giving the example
of a Walmart employee in US.  who bought
a house he could not really afford )– 


“such mortgages became known as  liars’ loans .

The point is that somewhere near $1.3trilllion dollars of
these loans  were sold to investors all
over the world. 

The debts went into a great mincing machine in Wall
Street  and in the City (of London) It
was operated by the  biggest US
investment banks , which included Morgan Stanley (fined  $1.4million ), Merrill Lynch (fined $10m,
fined euros500,000, fined HK$ 3million ), and Goldman Sachs  (fined £17.5million, also fined $550million) as
well as giant global banks such as  
Citigroup  (fined $400million,
$300million, $215million, $70million, $2.4 billion, $2.0 billion), UBS  (fined 
£8.0million  ) and Barclays
Capital (fined £1.2million ).”     

JA Comment - 

The quote is from Robert Peston’s  book “Who runs Britain”
which mentions, sometimes at length,  and
on  seventeen occasions, Goldman
Sachs,   without mentioning these fines.   All the above 
fines are here inserted by myself and derived from internet sources. 


Subsequently Ben Bradshaw,  currently 
chief economist of Goldman Sachs, has been appointed by HM Treasury,
June 2011,  as a member of the Monetary
Policy Committee of the Bank of England..

Bank of England are to replace Financial  Services Authority as regulators of the
Financial markets in the City of London.


Who Ruins Britain?
Or “ What a State we’re in.”

James A.    

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