Since the 2008 financial crisis, UK authorities have been absolutely toothless when it comes to prosecuting bankers who’ve broken the law. Is it simple incompetence? Or is our regulatory system designed so that victims fall through the gaps, while banks are permitted to operate above the law. Joining us this week is former Met Detective and victim of RBS GRG’s long-running scheme to defraud its SME customers, Andy Keats, and researcher & campaigner, Joel Benjamin.
Since the financial crisis, apart from a few tokenistic traders, the UK authorities have been absolutely toothless when it comes to prosecuting bankers who have broken the law. But is this just incompetence, or is our regulatory system designed in a way that means that victims fall through the gaps, while banks are permitted to operate above the law? Get a sneak-preview of our upcoming episode on white-collar crime featuring former Met Detective, Andy Keats, and researcher and campaigner Joel Benjamin.
Economics and the schools that teach it have been wrong for such a long time that its students have collectively embraced a mythical model that does not account for the role of money, banks, debt or land.
Renegade economist and friend of the show, Professor Steve Keen recently took the stage at the Sunday Papers event in London to discuss what you’re not being told about the global economy.
Long before the Paradise Papers, or the Panama Papers, the Enron scandal, Savings and Loan crisis, WorldCom, and the Global Financial Crisis, governments in the US, UK and Australia were colluding with the world’s biggest banks and their clients using aggressions dynamics not to defeat but to suborn the controls of the supposedly independent professionals: The accountants.
It may only have been a fraction of a percent but make no mistake, last week’s interest rate increase was a big deal. It signalled the Bank of England has given up on reviving the economy, having already inflated the assets of the already rich through its dangerous game of monetary policy. Bank and Treasury economists (aided and abetted by the OBR) are guilty of defeatism. They argue that despite their powers, there is nothing to be done.