Nigel’s knightly frustration

March 1, 2017 at 8:50 pm (Beyond parody, jerk, Jim D, nationalism, parasites, plonker, populism, UKIP, wankers)


Nige and Dougie in happier times

The slow-motion car crash and hilarious pantomime that is the disintegration of Ukip seems to have been brought about in part at least, because Nigel Farage wants a knighthood, or perhaps a peerage. But preferably a knighthood, because a peerage would mean having to give up his cushy and well-paid seat in the European Parliament.

That’s right: Our Nige, Man of the People, the Outsider, the Scourge of the Establishment, wants a knighthood or a seat in the Lords!

When Douglas Carswell mocked the great Rebel’s ambitions, suggesting he should instead be given an OBE for “services to headline writers”, Farage was beside himself and publicly warned that the party will collapse unless its sole MP  is thrown out.

Farage raged that Carswell had “sought to split and divide Ukip in every way imaginable” since defecting from the Conservatives in 2014. Farage said the leaked online exchange showed Mr Carswell was “consumed with jealousy and a desire to hurt me” and urged Paul Nuttall to expel him from the party.

Writing in The Daily Telegraph, Mr Farage said: “As a party, how can we let a man represent us in the House of Commons who actively and transparently seeks to damage us?

“I think there is little future for Ukip with him staying inside this party. The time for him to go is now.”

According to Lord Pearson of Rannoch, Ukip’s former leader, initially tried to organise a peerage for Farage, backed by Ukip peer Lord Willoughby de Broke, last July in the wake of the EU referendum.

The plan were dropped when the pair realised Farage would have to resign as an MEP first before being allowed to accept a peerage.

Pearson then approached the Cabinet Office’s Parliamentary and political service honours committee about a knighthood for Mr Farage. It turned down the application at the end of July.

The peer then asked Carswell to approach Gavin Williamson, the Government’s chief whip, about appealing the decision to reject Farage’s application.

On December 30th Pearson emailed Carswell saying: “Dear Douglas, Could you let me know how your talk with Gavin Williamson went before Christmas? By phone if you prefer? Good wishes. Malcolm.”

Carswell replied the next morning on December 31 – the day the New Year’s honours were announced – saying: “As promised, I did speak to the government Chief Whip.

“Perhaps we might try angling to get Nigel an OBE next time round?  For services to headline writers? An MBE, maybe?”

Pearson replied an hour later: “Dear Douglas, Let’s speak at your convenience. Ring me? Not sure an ‘Other Buggers’ Efforts’ quite hits the spot for  Nige……..?! Malcolm”.

Farage said: “It could not be clearer that Douglas Carswell was negative in his response to the chief whip. He is consumed with jealousy and a desire to hurt both Ukip and me. What a sad figure he cuts.”

Pearson said the comments showed that it was “pretty clear [that Carswell] did not support” Farage’s knighthood.

He added: “It is true that I and others tried to get a knighthood for Nigel Farage and one way or another we failed, and we still think he should have one.

“I am not going to give up. I am going to go on and try to see whether we can get him a K in the Birthday honours in the summer.”

So much for the “radicalism” of Dulwich College educated ex-stockbroker Farage. Radicalism has a real meaning and tradition in politics and it couldn’t be further from Farage’s repackaged conservatism. So while we can all have a good laugh at Nige’s frustrated ambitions to join the aristocracy, our real job is to use this to drive a final nail into Ukip’s preposterous claim to represent the working class.

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How the alt-right have reacted to Milo’s support of child abuse

February 22, 2017 at 12:35 am (anti-semitism, apologists and collaborators, Asshole, child abuse, conspiracy theories, fascism, funny, gloating, misogyny, parasites, plonker, populism, posted by JD, Racism, Trump, wankers)

By Mack Lamoureux at Vice.com

Many alt-right figures are going to extraordinary lengths to explain away the former Breitbart editor’s “pro-pedophilia” comments.

It seems like Nero has finally been consumed by the fire he started.

Far-right provocateur Milo Yiannopoulos, who just stepped down from his position as Breitbart’s tech editor this afternoon, had a very bad couple of days, with his keynote speaker engagement at CPAC pulled and a book deal worth more than $250,000 canceled. Yiannopoulos, who went by @nero before being the rare media personality actually kicked off Twitter, saw his troll empire finally burn him after videos of him making what has been described as “pro-pedophilia” comments resurfaced.

“We get hung up on this child abuse stuff, to the point where we’re heavily policing even relationships between consenting adults,” he said on a podcast called The Drunken Peasants in January 2016. Later, in the same conversation, he said that relationships “between younger boys and older men… can be hugely positive experiences.”

On an episode of Joe Rogan’s podcast in July of the same year, Yiannopoulos made similar comments and also hinted that he has personally seen minors being sexually abused at a party and not reported it.

Yiannopoulos, for his part, has vehemently denied the allegations, saying that his comments were taken out of context and that he was being humorous. Yiannopoulos apologized during a press conference today saying that he regrets the comments, but that “as a victim of child abuse” the concept of him being a supporter of pedophilia is “absurd.” He went on to say that this was a conspiracy by the media to bring him down.

“Let’s be clear about what’s happening here,” said Yiannopoulos. “This is a cynical media witch hunt from people who do not care about children; they care about destroying me and my career and, by extension, my allies. They know that although I made some outrageous statements, I’ve never actually done anything wrong.”

“They held this story back. They held this footage back—footage that has been out there in the wild for over a year because they don’t care about victims. They don’t care about children; they only care about bringing me down. They will fail.”

As one would expect, the derpy superheroes of the alt-right, or new-right (whatever these neo-fascists are calling themselves these days,) have had his back… to a point. That said, it’s not exactly the work of geniuses.

Oddly enough, some of the more well-known players in the alt-right have come out against Yiannopoulos. Richard Spencer and Tim Treadstone (Baked Alaska), the latter of whom claims to be Yiannopoulos’s former manager, both shit on their former British king.

“The guy is totally done,” said Spencer on Twitter. “No sane person will defend him.”

However, it seems, even if Richard Spencer (a self-avowed white supremacist) won’t defend Yiannopoulos, the pizzagaters will.

Mike Cernovich during his online call-in show. Photo via screenshot

Mike Cernovich, best known as that pizzagate guy, dedicated his online radio show to defending Yiannopoulos last night. His main argument is that Yiannopoulos was joking about the comments, but he also has some rather strong thoughts on how the video came to be. Toward the end of his show, Cernovich tail-spins into a theory that this is all a systematic takedown by the “deep state”—influential but unknown members of the military or government agencies (CIA, FBI)—because “citizen journalists” were onto their pedophilia rings. Look, it’s not that easy to summarize something that is crystallized stupidity brought to life so here it is in full:

One third of the deep state are pedophiles, to get at that high level that they get at they have all kind of initiation rituals that a lot of people that wouldn’t believe are possible but it’s how they control you,” Cernovich said.

“What they do, if you want to be at the highest level—the highest power level—they make the new members molest children and record it. That accomplishes two things, one it gives them blackmail material on everybody for the rest of their lives but, even bigger, they know that if you harm a child, then you will do anything for them.

“That’s why they became really nervous when citizen journalists began investigating pedophile rings in DC, they got shaken up. The fake news media freaked out and now they want to tar everybody that they possibly can to try and distract from their true crimes, that’s what’s really going on here, 100 percent what’s going on here.

The  theory that this is a deep-state psy-op has taken hold in many of the circles of the alt-right. Jack Posobiec, another prominent alt-right social media figure, tweeted that a source told him $250,000 was spent on opposition research on Yiannopoulos, where “they” hired PIs and video editors—former independent presidential candidate Evan McMullin is somehow involved as well. Lauren Southern, a 21-year-old Canadian media personality for the northern equivalent of Breitbart, also tweeted out that it was a hit job but later deleted her tweets.

Many, many blog posts have been written supporting this idea that Yiannopoulos is the victim of a smear job conducted by the mainstream media. However, these videos were out publicly on YouTube for quite some time, which would mean that these “deep-state operatives” must have a hell of a budget to be able to go back in time and force Yiannopoulos to make those comments publicly on the podcasts.

That said, there is significant online chatter worrying about further takedowns of members of Yiannopoulos’s brethren. Cernovich later tweeted that “Deep State is going after everyone with a large social media following” to which Paul Joseph Watson, of conspiracy theory and Infowars fame, tweeted “can confirm.”

Alex Jones ranting on camera. Photo via screenshot

Which brings us to Infowars founder (and apparently semi-regular Trump advisor), Alex Jones, who posted a doozy of a video entitled “Milo Is A Victim of Sexual Abuse, Does Not Promote Pedophilia” last night. The video is mostly him yelling in the dark about Yiannopoulos; yet it is still, somehow, the most sane defense of the bunch.

In the rambly clip, Jones calls Yiannopoulos a “beta gay guy” and seems to suggest that he’s gay because of abuse and has Stockholm syndrome. He calls the stories about Yiannopoulos a “witch hunt” and goes on a tirade against people who support trans rights. In the video, he suggests that journalists should be going after the big pedophile rings in Hollywood and DC instead of Yiannopoulos.

“On a scale of one to ten—zero being a really good person with your kids and a good life where you’re standing up for what’s right. On the compendium, on this whole spectrum, most of us are a one or something,” said Jones. “Then you got a Sandusky or these type of people that are nines or tens.

“This is like a three or four, so if we’re going to fry Milo, we better go ahead and fry everybody else who is involved in this.”

Jones concludes that this is “absolutely the Republican Party trying to roll up the grassroots support of the nationalist and populist movement that is taking place” and then compared Yiannopoulos to PewDiePie.

The whole situation seems to have taken place in the Upside Down. For several years now, the alt-righters have never seen a pedophile conspiracy they couldn’t sink their teeth into. At one point, Cernovich repeatedly targeted Vic Berger as a pedophile and sicced his merry band of trolls on him.

So it’s interesting to watch these people, who see pedophiles around every corner, and, like Yiannopoulos, have weaponized pedophilia accusations, scrambling to explain away Yiannopoulos’s own comments.

Sometimes it’s hard to tell when the call is coming from inside the house.

Lead photo via Facebook and Youtube

Follow Mack Lamoureux on Twitter.

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Measles: single jab quackery

April 24, 2013 at 7:41 pm (children, conspiracy theories, Daily Mail, health service, Jim D, media, parasites, profiteers, science, Tory scum, truth, youth)

It is now universally accepted by competent health professionals that the MMR triple vaccination jab is the safest protection presently possible against measles, mumps and rubella. The present outbreak of measles in South Wales is entirely attributable to the discredited (and probably fraudulent) “research” of Andrew Wakefield in 1998, falsely linking the MMR jab with autism. Wakefield’s dodgy “research” was widely promoted by the Daily Mail and other media (including the South Wales Evening Post) from the moment it first appeared until well into the 2000’s, even after Wakefield’s “research” was officially discredited and the man himself struck off.  As a direct result teenagers who did not receive the two MMR jabs that are required, as infants, are now the main group suffering from infection.

But still opportunist quacks are (literally) cashing in on the fears of gullible parents: The Children’s Immunisation Centre (see below) ran a clinic last weekend in Swansea supplying the less effective single measles vaccination privately for £110 for each jab plus a £50 registration fee. MMR is available on the NHS free of charge.

The Children’s Immunisation Centre website gives telephone numbers for private clinics offering single measles jabs in England and in Swansea and also links to old newspaper articles suggesting an autism link to the MMR vaccine.

It also claimed that the single vaccines are “the only safe option” to immunise against measles – but that demonstrably false claim has now been removed from their website.

Why has no government minister spoken out against these quacks? In particular, why has health minister Jeremy Hunt had nothing to say? It surely can’t be because the government rather approves of both “parental choice” and private medicine for profit – or that Hunt himself is on record as being sympathetic towards quackery?

H/t: BBC Wales

The profiteers’ fraudulent publicity, below:

The Children’s Immunisation Centre Ltd operates The Immunisation and Medical Centres. Our centres operate Nationally London, Manchester, Kent, Dartford, Birmingham, Southampton, (Leeds-Harrogate, Nottingham-Sheffield Coming Soon), has been specialising for ten years  on all types of vaccinations but particularly  in single vaccinations against  Measles, Mumps, Rubella: MMR single vaccinations; baby jabs and other childhood and new vaccinations to protect adults and children in the UK, and for all your travel vaccinations such as Yellow Fever ,Typhoid rabies and Cholera to name but a few.

We are particularly proud of our 100 per cent safety record and have over 18,000 registered patients and we are one of the UKs largest and friendliest injectables company.

Our group was established in 2002, and for the last 10 years has brought PEACE OF MIND to thousands of patients for affordable private single baby jabs of single Measles, Mumps, Rubella (MMR single jab vaccinations) -currently no mumps vaccine available in the UK.

All our thousands of patients are healthy, with no autism, no hospitalizations or fits (anaphylaxis shock) no febrile convulsions. We have a 100% Safety Record and have given over 70,000 vaccinations.(over 18,000 patients)

Our Measles, Mumps, Rubella single jab (MMR single jabs) immunisation clinic was the first private health clinic to obtain its Care Quality Commission. We have been independently audited and checked by  Care Quality Commission Assessors;

FOR YOUR PEACE OF MIND

FOR YOUR PEACE OF MIND.

Our clinics are in Birmingham, London Harley Street, Manchester,  Kent-Dartford, Southampton, (Leeds-Harrogate, Nottingham-Sheffield Coming Soon). All our clinics are open on Saturdays so that parents can conveniently bring their children for their single MMR jabs (single immunisations). It is essential children and adults keep up with all their immunisations and check booster requirements.

Apart from MMR single jabs, we also protect against the following diseases, especially for travelling children. No NHS referral necessary.

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Escape to Wodehouse

January 14, 2013 at 4:14 pm (BBC, class, comedy, history, Jim D, literature, Orwell, parasites)

Wodehouse’s idyllic world can never stale. He will continue to release future generations from captivity that may be more irksome than our own. He has made a world for us to live in and delight in – Evelyn Waugh

Most of the people whom Wodehouse intends as sympathetic characters are parasites and some of them plain imbeciles, but very few of them could be described as immoral – George Orwell

Wodehouse is back on TV (BBC 1, Sundays), in the form of the Blandings stories about Lord Emsworth, his fearsome sister Constance, the ambitious secretary Baxter and Emsworth’s prize sow, The Empress.

Those of you not already aux fait with the Wodehouse oeuvre will have gathered just from the above, that this is pretty lightweight stuff, completely devoid of any pretensions to social commentary or psychological insight. It’s pure entertainment and – more to the point – pure escapism.

Wodehouse’s published writings began in the very early years of the last century and continued right up to his death in 1974, when he left an unfinished manuscript that was published posthumously as Sunset at Blandings. But (as Orwell pointed out) the world of Wodehouse was outdated even by the 1920’s: Emsworth was a throwback to a bygone Edwardian age and Bertie Wooster really died in the corner of some foreign field round about 1915.

Wodehouse’s reputaton has by now just about about recovered from his appalling misjudgement when, living in France in 1941 and having been interned by advancing German forces, he agreed to broadcast some lighthearted “chats” on Nazi radio. These were apolitical in tone and content, but naturally laid him open to the charge (made most forcefully by ‘Cassandra’ of the Daily Mirror) that he’d been a willing tool of Goebbels’ and had agreed to broadcast in order to get himself released. George Orwell considered Wodehouse to have acted like a bloody idiot, but wrote an essay (In Defence of P.G. Wodehouse, February 1945) that strongly defended him against charges of treachery. It turns out that the British authorities reached the same conclusion, but decided not to tell him, and Wodehouse spent the rest of his days brooding in self-imposed exile in America.

When considering what was undoubtably a dreadful error on Wodehouse’s part, it is worth remembering that he was the creator of Sir Roderick Spode, a thoroughly unpleasant bully and demagogue who turns up in several of the Wooster stories, described as “founder and head of the Saviours of Britain, a fascist organisation better known as the Blackshorts.” Not conclusive proof perhaps, but pretty persuasive evidence that Wodehouse had no love of fascism.

But why on earth would any person of even vaguely leftist inclinations actually enjoy these farcical tales of dotty aristocrats, domineering aunts and over-privileged wastrels?

The sheer escapism has a lot to do with it: I know that I am very far from being the only leftie who’s found solace at Blandings Castle and/or the Drones Club when life’s become difficult one way or another. Then there’s the sheer craftsmanship of his plots, and -especially – his use of language.

When Bertie Wooster describes “Aunt calling aunt calling to aunt like mastodons bellowing across primeval swamps” you know you’re in the hands of a writer of comic English to rank alongside Wilde and Dickens. Which, come to think of it, may be why BBC 1’s effort on Sunday was just slightly disappointing: the irreplacable descriptive and narrative voice of Wodehouse himself was missing.

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Another royal mouth to feed…

December 3, 2012 at 9:38 pm (grovelling, Jim D, Monarchy, parasites, republicanism)

Oh no! Another mouth (for us all) to feed…

royal baby 200x300 Royal Baby Names for Prince William and Kate Middleton

“It was pitiful for a person born in a wholesome free atmosphere to listen to their humble and hearty outpourings of loyalty towards their king and Church and nobility; as if they had any more occasion to love and honor king and Church and noble than a slave has to honor the lash, or a dog has to love and honor the stranger that kicks him! Why, dear me, ANY kind of royalty. howsoever modified, ANY kind of aristocracy, howsoever pruned,  is rightly an insult; but if you are born and brought up under that sort of arrangement you probably never find it out for yourself, and don’t believe it when somebody else tells you. It is enough to make a body ashamed of his race to think of the sort of froth that has always occupied its thones without shadow of right or reason, and the seventh-rate people that have always figured as its artistocracies — a company of monarchs and nobles who, as a rule, would have achieved only poverty and obscurity if left, like their betters, to their own exertions…

“The truth was, the nation as a body was in the world for one object, and one only: to grovel before king and Church and noble: to slave for them, sweat blood for them, starve that they might be fed, work that they might play, drink misery to the dregs that they might be happy, go naked that they might waer silks and jewels, pay taxes that they might be spared from paying them, be familiar all their lives with the degrading language and postures of adulation that they might walk in pride and think themselves gods of this world. And for all this, the thanks they got were cuffs and contempt; and so poor-spirited were they that they took even this sort of attention as an honor.”

-Mark Twain, A Connecticut Yankee in King Arthur’s Court

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Abolish the Monarchy!

October 17, 2012 at 9:46 pm (Civil liberties, democracy, Guardian, Jim D, law, Monarchy, parasites, republicanism, Tory scum)

The government has blocked the publication of 27 letters from Charles Windsor to Labour ministers over a seven month period between September 2004 and April 2005. In doing this, the Attorney-General Dominic Grieve has overturned the decision of three tribunal judges who last month ruled in favour of a freedom of information request from the Guardian. The judges had  ruled that the public had a right to know how Charles had sought to change government policy.

In an extraordianry admission, Grieve argued that releasing the letters “would potentially have undermined [Charles’s] position of political neutrality.” The letters, says Grieve, contain the “most deeply held personal views and beliefs” of the heir to the throne and are part of his “preparation for becoming king.”

So much for the myth of a passive, apolitical constitutional monarchy.

We may never know what the “views and beliefs” expressed by Charles in those letters are, but we do know that he holds some profoundly reactionay and downright cranky views on a range of topics from architecture to homeopathy.

The decision to veto the publication of these letters is an affront to democracy; the prospect of an opinionated, political monarch seeking to exert an influence over government policy is an even greater affront.

The would-be Marxist left in Brtitain has, in recent years, tended to down-play the call for the abolition of the Monarchy. At one time that demand, like our insistence upon secularism, was one of the crucial issues that distinguished us from various varieties of reformists and soft-lefties. Now is the time to once again proudly raise the republican banner in Britain.

As for Charles Windsor: he has a perfect right to express his personal opinions if he renounces the throne and becomes a private citizen.

NB: the pressure group Republic has launched a “Royal Secrets Campaign.”

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Diamond Bob and the Barclays gang

June 28, 2012 at 5:36 pm (banks, capitalism, crime, Jim D, parasites, profiteers)

 I’m worried about Bob Diamond.

Barclays‘ new boss first came to my attention in January when he told MPs that the “period of remorse and apology for banks … needs to be over”. I didn’t like that, partly because I hadn’t really noticed any period of remorse and apology, unless you count “I’m sorry our various scams didn’t work” as an apology; and partly because it’s not for him to say. If you’re really sorry for something, you should just keep being sorry. It’s for others to decide when you can be let off the hook. If you’re the first to be asking whether you’ve apologised enough, then you haven’t David Mitchell, The Observer, 18 Dec 2011

From the FSA:

Barclays fined £59.5 million for significant failings in relation to LIBOR and EURIBOR

 
 
 
 
Newspaper Image

FSA/PN/070/2012
27 Jun 2012

The Financial Services Authority (FSA) has today fined Barclays Bank Plc (Barclays) £59.5 million for misconduct relating to the London Interbank Offered Rate (LIBOR) and the Euro Interbank Offered Rate (EURIBOR). This is the largest fine ever imposed by the FSA.

Barclays’ breaches of the FSA’s requirements encompassed a number of issues, involved a significant number of employees and occurred over a number of years. Barclays’ misconduct included:

  • making submissions which formed part of the LIBOR and EURIBOR setting process that took into account requests from Barclays’ interest rate derivatives traders. These traders were motivated by profit and sought to benefit Barclays’ trading positions;
  • seeking to influence the EURIBOR submissions of other banks contributing to the rate setting process; and
  • reducing its LIBOR submissions during the financial crisis as a result of senior management’s concerns over negative media comment.

In addition, Barclays failed to have adequate systems and controls in place relating to its LIBOR and EURIBOR submissions processes until June 2010 and failed to review its systems and controls at a number of appropriate points.

Barclays also failed to deal with issues relating to its LIBOR submissions when these were escalated to Barclays’ Investment Banking compliance function in 2007 and 2008.

Tracey McDermott, acting director of enforcement and financial crime, said:

“Barclays’ misconduct was serious, widespread and extended over a number of years. The integrity of benchmark reference rates such as LIBOR and EURIBOR is of fundamental importance to both UK and international financial markets. Firms making submissions must not use those submissions as tools to promote their own interests.”

“Making submissions to try to benefit trading positions is wholly unacceptable. This was possible because Barclays failed to ensure it had proper controls in place. Barclays’ behaviour threatened the integrity of the rates with the risk of serious harm to other market participants.”

“The FSA continues to pursue a number of other significant cross-border investigations in this area and the action we have taken against Barclays should leave firms in no doubt about the serious consequences of this type of failure.”

The BBA is currently undertaking a review of the way LIBOR is set and will publish its findings shortly. The FSA, along with the other tripartite authorities, is working to support market-led reviews of existing arrangements, with the goal of ensuring such arrangements continue to command the confidence of all stakeholders.

Barclays co-operated fully during the FSA’s investigation and agreed to settle at an early stage. The firm qualified for a 30% discount under the FSA’s settlement discount scheme. Without the discount the fine would have been £85 million.

This was a significant cross-border investigation and the FSA would like to thank the U.S. Commodity Futures Trading Commission (CFTC), the U.S. Department of Justice (DoJ) (together with the Federal Bureau of Investigation (FBI)) and the Securities and Exchange Commission (SEC) for their co-operation.

The CFTC brought attempted manipulation and false reporting charges against Barclays for similar failings, which the bank agreed to settle. The CFTC imposed a penalty of US$200 million. In addition, as part of an agreement with the DOJ, Barclays admitted to its misconduct and agreed to pay a penalty of US$160 million.

Notes for editors

  1. The Final Notice for Barclays Bank Plc.
  2. LIBOR and the EURIBOR are benchmark reference rates that indicate the interest rate that banks charge when lending to each other. They are fundamental to the operation of both UK and international financial markets, including markets in interest rate derivatives contracts.
  3. LIBOR and EURIBOR are used to determine payments made under both over the counter (OTC) interest rate derivatives contracts and exchange traded interest rate contracts by a wide range of counterparties including small businesses, large financial institutions and public authorities. Benchmark reference rates such as LIBOR and EURIBOR also affect payments made under a wide range of other contracts including loans and mortgages. The integrity of benchmark reference rates such as LIBOR and EURIBOR is therefore of fundamental importance to both UK and international financial markets.
  4. LIBOR is published on behalf of the British Bankers’ Association (BBA) and EURIBOR is published on behalf of the European Banking Federation (EBF). LIBOR and EURIBOR are calculated as averages from submissions made by a number of banks selected by the BBA or EBF. There are different panels of banks that contribute submissions for each currency in which LIBOR is published, and for EURIBOR.
  5. LIBOR and EURIBOR are by far the most prevalent benchmark reference rates used in euro, US dollar and sterling OTC interest rate derivatives contracts and exchange traded interest rate contracts. The notional amount outstanding of OTC interest rate derivatives contracts in the first half of 2011 has been estimated at 554 trillion US dollars. The total value of volume of short term interest rate contracts traded on LIFFE in London in 2011 was 477 trillion euro including over 241 trillion euro relating to the three month EURIBOR futures contract (the fourth largest interest rate futures contract by volume in the world).
  6. Until February 2011 the US dollar LIBOR panel consisted of 16 banks and the rate calculation for each maturity excluded the highest four and lowest four submissions. An average of the remaining eight submissions was taken to produce the final published LIBOR.
  7. Throughout the Relevant Period, the EURIBOR panel consisted of at least 40 banks and in each maturity the rate calculation excluded the highest 15% and lowest 15% of all the submissions collated. A rounded average of the remaining submissions was taken to produce the final published EURIBOR.
  8. The FSA Enforcement Conference 2012 – ‘Credible deterrence: Here to stay’ takes place on Monday, 2 July, 2012.
  9. The FSA regulates the financial services industry and has four objectives under the Financial Services and Markets Act 2000: maintaining market confidence; securing the appropriate degree of protection for consumers; fighting financial crime; and contributing to the protection and enhancement of the stability of the UK financial system.
  10. The FSA will be replaced by the Financial Conduct Authority and Prudential Regulation Authority in 2013. The Financial Services Bill currently undergoing parliamentary scrutiny is expected to receive Royal Assent by the end of 2012

**************************************************************************************************

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Osborne’s ‘Casablanca’ moment: he’s shocked, shocked!

April 10, 2012 at 4:14 pm (Asshole, Beyond parody, cinema, comedy, Jim D, parasites, tax, Tory scum)

I’m shocked, shocked!

George Osborne has said he was “shocked” to discover that some of the wealthiest people in the country pay “virtually no” income tax.

The chancellor said he had seen “anonymised” tax returns submitted by multimillionaires using aggressive avoidance schemes to dramatically reduce their tax bills.

HM Revenue and Customs (HMRC) found that the income tax rate among some of the highest earners was, on average, only 10%.

Osborne said the HMRC study convinced him of the need to “take action” to ensure high earners pay more income tax.

In last month’s budget he limited how much people could offset their tax bills by investing in businesses or donating to charity.

Anyone seeking to claim more than £50,000 of tax relief in any one year will have a cap set at 25% of their income from 2013.

HMRC found hundreds of millions of pounds of income tax is avoided by using legal loopholes.

The main methods included writing off business losses, offsetting the cost of business mortgages, and borrowing on buy-to-let properties.

Others took advantage of tax relief on donations to charity.

“I was shocked to see that some of the very wealthiest people in the country have organised their tax affairs, and to be fair it’s within the tax laws, so that they were regularly paying virtually no income tax. And I don’t think that’s right,” Osborne told the Daily Telegraph.

“I’m talking about people right at the top. I’m talking about people with incomes of many millions of pounds a year.

“The general principle is that people should pay income tax and that includes people with the highest incomes.”

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Martin Rowson on the budget

March 22, 2012 at 1:03 am (economics, Guardian, Jim D, parasites, Tory scum)

Martin Rowson cartoon 22.03.2012

© Martin Rowson 2012

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Save the NHS! Shoot down the vultures!

February 28, 2012 at 9:59 am (Champagne Charlie, Cuts, health service, parasites, profiteers, protest, Tory scum)

Protest outside ‘Winning Business in the New NHS’ conference, Wednesday 29 February, 8.00 am at  the King’s Fund, 11-13 Cavendish Street London, W1G 0AN.

Protest called by the Health Alarm 11:59 mobilising committee.

Click here to download pdf leaflet.

The conference is a briefing session (at £354 a head) for private profiteers dealing with the NHS, run by a communications firm, GB Communications PR, whose bosses have strong NHS connections. The philosphy of these profiteers is succinctly and frankly outlined  in a recent letter to the Guardian:

 I find the logic of your editorial (23 February) somewhat lacking. Neither vested interests nor the vagaries of public opinion can be allowed by an honest government to stand in the way of difficult decisions. On your logic, the unions would still be holding us all to ransom, the Bank of England would remain under the government’s thumb, and Saddam Hussein and Gaddafi would still be in business. Radical reform of the NHS is essential. The proposed reforms are rational and modest. The lurid and shameless resistance movement has been managed by the usual suspects. Unless the NHS is at long last de-Sovietised, it will collapse in bankrupt ruin, to be followed by thoroughgoing privatisation.
Professor David Marsland
Reading

Conference speakers include Mark Simmonds, Tory MP and shadow Health Minister 2007-10, probably the highest-placed Tory able to speak on the issue without the constraints of a current government position. Simmonds is paid £50,000 a year, on top of his MP’s salary, to work just 10 hours a month as “strategic adviser” to Circle Health, which on 1 February became the first private firm to take over the running of an NHS hospital, Hinchingbrooke Hospital in Cambridgeshire.

As NHS experts Alyson Pollock and David Price have written: “up to £100 billion annually of taxpayers’ money is likely to be handed over to large corporations that will run and operate our NHS services for profit…

“The winners will be shareholders, CEOs and directors of new companies while the losers will be the poor, the elderly and the infirm — those whom the health service was designed to protect… The reforms mean that the NHS will remain as a brand name only with health services will be run on US lines by, and largely for, shareholders and profit.”.

The 29 February conference is about profiteers positioning themselves to get their slice of the £100 billion.

There is still time to stop the Health and Social Care Bill, which is set to strike a massive and grievous blow to the NHS. We need a mobilisation of the labour movement to demand the bill is withdrawn and to put forward a positive plan to rebuild the National Health Service.

We demand also the repeal of cuts to the NHS, the liberation of the NHS from extortionate PFI charges, the reversal of the marketisation already imposed.

We call on the Labour Party to publicly reaffirm Andy Burnham’s promise that a future Labour government will reverse marketisation of the NHS by this government.

We will demonstrate against the private sector vultures, with a simple message: no to the Health and Social Care Bill! No to privatisation – hands off our NHS! Please join us!

More details: healthalarm@yahoo.co.uk or Rosie, 07734 088 243.

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