The Olympics will cost £40bn ! Who will pay for them ?
Britain's banks are sitting on a £40bn black hole of undeclared losses ! Who will pay for that ?
Royal Bank of Scotland has £18bn of undeclared losses ! Who will pay for that ?
The 82pc state-owned lender back to the taxpayer for another rescue ?
Controversial international accounting standards introduced in 2005 that prevent companies are deeply flawed. PIRC said the rule was "masking the true position of the accounts by including fictional assets and fictional profits".
Dividends and bonuses are being paid out on inflated profit numbers, when they should be retained to boost the banks' capital cushions.
Tim Bush, head of governance and financial analysis at PIRC, claimed the undeclared losses meant banks have not been clearing their balance sheets of bad debts and releasing the funds to support viable businesses and households.
"The scandal is the fact that banks are delaying de-risking and de-gearing due to the accounting standards," he said. "The funds are being tied up, rather than being put to work elsewhere."
06/09/2012 02:09 PM
We, the people (taxpayers) by order of the Government bailed out the main banks in 2008. If the Government had not done this the banks would have been thrown out onto the streets (bankrupt). Now that the banks have been bailed out...what do they do? They repossess the homes of the same taxpayers whose tax money bailed them out in the first place.
The question that needs to be asked is...does the Government care more about the people they govern or more about the people who profit from the people they govern???
06/09/2012 12:14 PM
And no doubt these losses will never be realized for the banks involved, they will be subsidized yet again by government and the bill passed on again, to the taxpaying public, or muppets, as goldman sachs, and politicians like to call us.
With banking, it's only the customer who always gets screwed. and nnce you take it out, the interest is all gone ! So from the second oldest to the oldest profession in the world prostitution, word on the street has it that Britain having nationalized some its worldwide second-oldest profession.i.e banking that they will now proceed to nationalize the oldest, prostitution? The British governments will use the huge revenues that its prostitutes generate from phucking the people, to bail out even more pf its banks. Prostitution as well as being the world's oldest profession it is probably the most honest, given the recent shenanigans by all those involved in the City of London.
Of course prostitution and banking go hand in hand. One former City worker says that while working for a top international investment bank in the City of London, she witnessed a senior manager looking for A brothel to entertain some clients. Kat Banyard of a gender-equality pressure group says that there is a growing trend in the CitY of London to use prostitution to entertain clients. No doubt a lot of taxpayers bailout monies will find their way into the accounts of the prostitutes as well as the organizers of the Games.
Then there is the young young Irish woman who went to the City of London to work as a secretary and began sending home money and gifts to her parents. After a few years they asked her to come home for a visit, as her father was getting frail and elderly. She pulled up to the family home in a Rolls Royce and stepped out wearing furs and diamonds. As she walked into the house her father said "Hmmm - they seem to be paying secretaries awfully well in London." The daughter took his hands and said "Dad - I've been meaning to tell you something for years but I didn't want to put it in a letter. I can't hide it from you any longer. I've become a prostitute."
Her father gasped, put his hand on his heart and keeled over. The doctor was called but the old man had clearly lost the will to live. He was put to bed and the priest was called.
As the priest began to administer the sacrament of extreme unction, with the mother and daughter weeping and wail!ing, the old man muttered weakly "I'm a goner --killed by my own daughter! Killed by the shame of what you've become!""Please forgive me", his daughter sobbed, "I only wanted to have nice things! I wanted to be able to send you money and the only way I could do it was by becoming a prostitute."Pushing the priest aside, the old man sat bolt upright in bed, smiling. "Did you say prostitute?....I thought you said you joined Sinn Fein ans became a PROTESTANT!!"