asterisk2a + gordonbrown   20

Masters in Business: Nobel-Prize Economist Paul Krugman (Audio) by Bloomberg View
// most times conviction is lacking, trapped in the bubble, no non-conformity, too much of a comfortable life. // 28:30! Confidence Fairy >> austerity from 2010! vested interest plays big role! Policy Makers are on the side of credit, on bond holders. bond holders don't like inflationary period! ... Hyperinflation will come any day! // 31:00 econ needs to be reformulated in class rooms to be much broader subject! << see robert shiller interview! ie behaviour, sociology and psychology, irrational behaviour // 44:15 on keynes! was no left wing socialist, he tried to save capitalism! he had world changing analysis! sometimes there can not be enough demand, same with sometimes it is good to have waste vs nothing, pointless ways to spend money can have a positive effect. ie infrastructure investment - repaving roads = less private repair bills! public transportation = less drunk driving accidents. history shows fiscal stimulus gets always too early withdrawn from deficit hawks!
economic  history  GFC  Paul  Krugman  Thomas  Piketty  inequality  Gini  coefficient  income  inequality  social  mobility  income  mobility  paulkrugman  repo  bankrun  speculative  bubbles  subprime  Generationengerechtigkeit  Policy  Makers  constituency  George  Osborne  austerity  error  folly  credit  bubble  secular  stagnation  debt  servitude  Super  Cycle  Japan  Abenomics  fiscal  monetary  Richard  Koo  KennethRogoff  USA  UK  European  Union  lost  decade  lost  generation  Robert  Shiller  robertshiller  book  miltonfriedman  friedmann  JohnMaynardKeynes  keynes  Keynesianism  budget  deficit  GeorgeOsborne  fiscal  stimulus  GordonBrown  underinvestment  recovery  productivity  output  gap  liquidity  trap  ZIRP  NIRP  QE  infrastructure  investment  Richardkoo  public  investment  productive  investment  business  investment  short-termism  neoliberalism  neoliberal  Privatisation  trickle-down  economics  Super  Rich  1%  oligarchy  plutocracy  social  democracy  corporate  welfare  subsidies  subsidizing 
february 2016 by asterisk2a
BBC iPlayer - Britain's Trillion Pound Island - Inside Cayman
20bn£/year go through tax avoidance (legal through loopholes). = 20bn austerity for next 4-5 years this parliament from 2015. and was around the same from 2010 as Tories came to power forming coalition with lib dems. // who can pay for the lawyer and lobbyist - to implement loopholes. // its the gov that lets make the rules, by lobbyists. // (New Labour) Gordon Brown cut corp tax in his time by 5% and Osborne will have it cut by further 10% points in his two parliament sittings as chancellor. "You can't compete with Zero." << Cayman Islands (no infrastructure and no educated people) - vs. - UK (with infrastructure and educated people, social safety net, pensions). // ultimately, tax laws have to be changed in the local country, not cayman islands.
UK  offshore  banking  tax  avoidance  austerity  fairness  Generationengerechtigkeit  budget  deficit  Wall  Street  shareholder  value  profit  maximisation  lobbyist  lobby  Lobbying  Tories  Conservative  Party  nasty  HMRC  revolving  door  No  Representation  democracy  social  democracy  bank  bailout  GFC  crony  capitalism  capitalism  Greed  budget2015  budget2010  non-dom  Super  Rich  1%  oligarchy  plutocracy  City  of  London  poverty  income  distribution  income  redistribution  inequality  Gini  coefficient  social  mobility  income  mobility  Policy  Makers  Career  Politicians  Westminster  Council  Public  Services  Services  constituency  babyboomers  globalization  globalisation  neoliberalism  neoliberal  tax  evasion  loopholes  welfare  state  social  safety  net  corporate  tax  rate  trickle-down  economics  George  Osborne  David  Cameron  GordonBrown  Labour  Party  borderless  accounting  scandal  white-collar  crime  corporate  scandal  corporate  crime  IMF  OECD 
january 2016 by asterisk2a
Gordon Brown - Where Did It All Go Wrong ? - YouTube
Crash Gordon ( The Financial Crisis) - youtu.be/NL8A2fi3ols - the city generated 1/4 of all corporation tax income at its height! the city as a cash cow, that money was being redistributed into public & social services during the heyday. public spending increased from 40% of GDP to 48 (supported by the city cash cow). & the illusion 2 have a grip on boom & bust. convinced by 10 years of non-inflationary growth of the economy (thinking that labour made it). // BOE gov king was more concerned with the moral hazard of bailing out bad players (northern rock at this time) than with financial stability. northern rock was taken into public ownership under gordon brown. // 3 of the 5 largest banks in the world are British banks & each of them has a balance sheet larger than the uk economy. we are talking 5 times the British economy being the responsibility of the British tax payer. // & leading up to that infamous G20 meeting mervynking said there is no fiscal space 4 expansion
GordonBrown  GFC  bank  bailout  Labour  Party  economic  history  political  economy  political  error  political  theory  UK  NorthernRock  Career  Politicians  MervynKing  BOE  FSA  Positioning  Tories  Conservative  Party  George  Osborne  Vince  Cable  austerity  fiscal  policy  fiscal  stimulus  monetary  policy  monetary  theory  G20  tax  evasion  tax  avoidance  expense  scandal  Westminster 
january 2016 by asterisk2a
Gordon Brown joins asset manager Pimco as adviser - BBC News
[ influence & network ] Pimco said it had formed a five-strong group of "world-renowned experts on economic and political issues". The other members include former US Federal Reserve chairman Ben Bernanke, and Jean-Claude Trichet, former president of the European Central Bank. A spokesman for Mr Brown said he was taking on "a minor advisory role" and would not financially benefit. The spokesman added: "Any money goes to the office of Gordon and Sarah Brown to support their charitable and public service work." The advisory board will meet several times a year.
PIMCO  1%  Ben  Bernanke  trichet  GordonBrown  revolving  door 
december 2015 by asterisk2a
How The Socialist Surge is Growing - YouTube
via Robert Reich on.fb.me/1Pn6XFK - According to a New York Times investigation reported this morning, just 358 families and the businesses they control have contributed over half the money to the 2016 presidential election so far – mostly to Republicans who have pledged to pare regulations; cut taxes on income, capital gains and inheritances; and shrink Social Security and Medicare. On the other hand, two-thirds of Americans support higher taxes on those earning $1 million or more a year, according to a June New York Times/CBS News poll, and six in 10 favor more government intervention to reduce the gap between the rich and the poor. And according to the Pew Research Center, nearly seven in 10 favor preserving Social Security and Medicare benefits as they are. To an extent we haven’t seen since the Gilded Age of the 1890s, the upcoming election is between a tiny group of super-rich and the rest of us. We must do everything possible to reclaim our democracy.
lefty  Bernie  Sanders  Jeremy  Corbyn  USA  UK  European  Union  neoliberalism  neoliberal  crony  capitalism  bank  bailout  banking  crisis  squeezed  middle  class  injustice  justice  morality  TBTF  too  big  to  jail  too  big  to  bail  white-collar  crime  corporate  scandal  accounting  scandal  Wall  Street  profit  maximisation  shareholder  value  lobbyist  Lobbying  lobby  No  Representation  Career  Politicians  austerity  Generationengerechtigkeit  fairness  neoconservatism  neoconservatives  progressive  wage  stagnation  secular  stagnation  income  growth  income  distribution  income  inequality  income  mobility  social  mobility  low  income  income  redistribution  capital  gains  capital  gains  tax  tax  code  capitalism  post-capitalism  GFC  Super  Rich  1%  Gini  coefficient  post  code  lottery  NHS  Privatisation  tax  evasion  tax  avoidance  TINA  Alternativlos  Wolfgang  Schäuble  Angela  Merkel  character  barackobama  georgewbush  gwbush  presidency  David  Cameron  George  Osborne  Toff  Privileged  Establishment  Sozialer  Abstieg  precarious  work  Precariat  globalization  globalisation  working  poor  Labour  Party  Tony  Blair  GordonBrown  sovereign  debt  crisis  Positioning  Polarisation  corporate  state  corporate  media  Lügenpresse  social  Party  p 
october 2015 by asterisk2a
David Cameron risks ‘double betrayal’ of Scotland, says Gordon Brown | UK news | The Guardian
David Cameron is risking a “double betrayal” of Scotland if his government fails to make urgent changes to the Scotland bill, Gordon Brown has warned. The former Labour prime minister said the package of new powers for Holyrood must be amended to give MSPs unconditional authority to top up welfare payments, without any risk of such decisions being vetoed by the UK government. He said such changes were necessary to fulfil the pledge of more powers made by Westminster before last year’s independence referendum and to deliver in full on the recommendations of the Smith commission, which the prime minister set up to carry out a review of devolution. [...] Brown saying: “In other words, if a decision was made by the UK government on tax credits, about child benefit or benefits for the unemployed, and the Scottish parliament did not like that decision, it would have the power if it so wished, and if it was prepared to pay for it, to top up these benefits.”
SNP  Holyrood  Westminster  The  Vow  Career  Politicians  general  election  2015  Scottish  Independence  Scottish  referendum  GordonBrown  David  Cameron  Nick  Clegg  Ed  Miliband  No  Representation  The  Smith  Comission  devo-max  Devolution  Scotland  Nicola  Sturgeon  austerity  NHS  Scotland  NHS  welfare  state  social  safety  net  child  poverty  tax  credit  child  tax  credit  working  tax  credit  poverty  trap  working  poor  precarious  work  Precariat  Zero  Hour  Contract  Contractor  underemployed  part-time  DWP  Iain  Duncan  Smith  Jeremy  Hunt 
october 2015 by asterisk2a
Alex Salmond accuses UK party leaders of tricking Scotland into No vote | Politics | theguardian.com
"They're at loggerheads," Salmond told BBC1's Sunday Politics programme. "I think that their vow was cooked up in desperation from the last days of the campaign. I think everyone in Scotland now realises that. "Incidentally, [the] Yes campaign isn't surprised by this development. It's the people who were persuaded to vote no who were misled, who were gulled, who were tricked, effectively. They are the ones who are really angry." [...] Downing Street has dismissed Salmond's accusations, insisting the Scottish devolution timetable would be honoured. "Lord Smith of Kelvin has agreed to oversee the process to take forward the devolution commitments with powers over tax, spending and welfare all agreed by November and draft legislation published by January," a No 10 spokesman said. "This government has delivered on devolution and we will do so again." +!+!+!+ Salmond - bbc.in/1sU03so +!+!+!+ Ed Miliband - bbc.in/1AYZqCb +!+!+!+ Salmon on unelected House of Lords - bit.ly/1p9g8t3
The  Vow  Scottish  independence  referendum  Scottish  Scotland  UK  Westminster  David  Cameron  Nick  Clegg  Ed  Miliband  Better  Together  Toff  Career  Politicians  Politics  Establishment  Elite  Privileged  Alex  Salmond  election  campaign  promises  London  GordonBrown  Gordon  Brown  AlistairDarling  Alistair  Darling  interest  groups  devo-max  Devolution  trust  trustagent  confidence  compromise  Democratic  Process  democracy  No  Representation  House  of  Lords 
september 2014 by asterisk2a
Born Bankrupt: State of UK economy, part1/2 (24Aug12) - YouTube
Generational Theft. In-front of our eyes. Decline in-front of our eyes. Decline is subliminal.

Society's Contract, is broken. Society (baby boomers) is also bankrupt ethically and morally. Who are they to say what ought to be dome about the state of 'the system'!?

Part 2: http://www.youtube.com/watch?v=LQVyBo8HMsc

Book: Jilted Generation, Ed Howker (Author)
history  political  theory  book  generational  contract  generational  change  GeorgeOsborne  nickclegg  davidcameron  2012  moralhazard  moral  ethics  society  demographics  demography  fiscal  policy  policy  folly  policy  error  political  economy  politics  accountability  governance  lostgeneration  lostdecade  babyboomers  GordonBrown  tonyblair  UK  debt  bubble  debtoverhang  greatrecession  GFC 
august 2012 by asterisk2a
BoE emails suggest 'concern' over Barclays LIBOR rate (09July12) - YouTube
+ http://www.guardian.co.uk/business/interactive/2012/jul/09/libor-jeremy-heywood-paul-tucker-emails

John Mann MP has released correspondence from 2008 between Paul Tucker of the Bank of England and Jeremy Heywood, then a senior civil servant in the Cabinet Office, ahead of a hearing with Tucker over the Libor scandal at the Treasury select committee.

+ http://www.cityam.com/latest-news/heywood-emails-reveal-rising-panic-key-rates

CABINET secretary Sir Jeremy Heywood was in frequent contact with the Bank of England over the Libor rate during the height of the financial crisis, according to emails revealed yesterday.

Correspondence from 2008 between Sir Jeremy, then principal private secretary to chancellor Gordon Brown; Bank of England deputy governor Paul Tucker, then the central bank’s director for markets; and former Barclays chief executive Bob Diamond shows the extent to which the interbank lending rate was a topic of significant concern for the government.
RBS  UK  Politics  greatrecession  GFC  BBA  FSA  GordonBrown  EdBalls  JeremyHeywood  bobdiamond  LIBOR  PaulTucker  LIBOR  rigging  scandal  barclays  BOE 
july 2012 by asterisk2a
BBC News - Tucker denies role in Libor 'cesspit'
The Deputy Governor of the Bank of England Paul Tucker has compared abuse of the inter-bank lending rates (Libor) to a "cesspit" during evidence to the Treasury Select Committee.

He denied any government minister had encouraged him to "lean on" Barclays or any other bank over Libor and denied any knowledge or part in manipulation of interest rates.
AlistairDarling  gordonbrown  EdBalls  accountability  misconduct  Willful  ignorance  manipulation  bobdiamond  barclays  BOE  PaulTucker  LIBOR  rigging  scandal 
july 2012 by asterisk2a
Bagehot: Simple pleasures | The Economist
(UK) Both parties have an interest in banker-bashing. That is unfortunate

The government, too, has faced two ways in its dealings with the bankers. Attacking them has a certain electoral appeal—bankers were unpopular long before the posh Italians set about persecuting Shylock—but the bankers have been generous to the Tories. According to the Bureau of Investigative Journalism, in 2010 half of the party’s donations came from the City. More important, the government understands the danger of undermining a sector so important to jobs, growth and tax receipts. So it has dealt gently with the banks in, for instance, watering down somewhat last year’s recommendations by the Independent Commission on Banking about how to tighten regulation.

Gov has announced a parliamentary inquiry into the behaviour of the banks, brushing aside Labour’s demands for a judicial inquiry as an attempt to postpone the post-mortem.
greatrecession  GFC  moral  politicalscience  political  economy  2008  2012  gordonbrown  EdMiliband  EdBalls  bank  crisis  banking  crisis  banking  GeorgeOsborne  nickclegg  davidcameron  politics  UK  Labour  Tories  LIBOR  rigging  scandal 
july 2012 by asterisk2a
BBC News - Barclays - a day of unanswered questions
A whistleblower at the Financial Services Authority (FSA) has already told the committee he believes the FSA has e-mail evidence of exchanges between the Barclays and the Bank of England about the Libor rate.

At the very least we need Tucker's written account of his own side of that conversation. So far he has volunteered no account and has been screened behind the Bank of England's press operation, which says they can't comment on anything not in the FSA judgment.

At the level of Barclays' senior management we need to know - and this is the critical question: why did Jerry del Missier form the opinion that Tucker had ordered the rigging of Libor?

If that were me, and I was ordered to breach my professional and industry rules, I would be checking the exact meaning with the boss I have just spoken to. We need to know what Del Missier actually did.

Bob Diamond, so far, he has not admitted culpability - only responsibility.

*
SFO, FSA and DOJ (USA) need to start bringing charges.
confidence  2012  2008  creditcrunch  greatrecession  GFC  bank  crisis  banking  crisis  manipulation  DOJ  SFO  transparency  accountability  trustagent  trust  Willful  ignorance  misconduct  fraud  politics  AlistairDarling  EdBalls  gordonbrown  USA  Fed  NYFed  MervynKing  UK  BBA  FSA  bobdiamond  barclays  EURIBOR  LIBOR  LIBOR  rigging  scandal  BOE  PaulTucker 
july 2012 by asterisk2a
Labour reluctantly agrees to Parliament probe into banking scandal as MPs vote against call for judge-led inquiry | Mail Online
My Take
> Yes, because Labour government under Gordon Brown, BOE with Mervyn King and Paul Tucker and the FSA as well as other central banks ie NYFed/Fed and regulators turned a blind eye on the issue back in 2007/8/9 because during the Great Financial Crisis, everything was on the table to stabilise financial markets & minimise damage to the economy, trying to save what to save is.
> One has to question the Gov Coalition (Conservatives&LibDems;) for wanting just an inept Parliamentary Inquiry. Preventing collateral damage on own sides? And was Ed Balls playing game of chicken [game theory] 4 demanding a judicial inquiry knowing the Gov would not run with?!
> On the other side the Gov couldn't care less about the outcome as long as 'we' are able to put the LIBOR scandal under the LABOUR years and are able the win the next election. Thus the Gov forgoes the right thing, a judicial inquiry, for political gains.

http://youtu.be/H9i4hv_A_D0 (P1/2)
http://youtu.be/_7V7Jqw6XOY (P2/2)
davidcameron  GeorgeOsborne  misconduct  Willful  ignorance  trustagent  trust  Politics  game  theory  AlistairDarling  GFC  gordonbrown  UK  EdBalls  PaulTucker  barclays  LIBOR  EURIBOR 
july 2012 by asterisk2a
Diamond lets loose over Libor - FT.com
Mr Diamond quit after the governor of the Bank of England, Sir Mervyn King, and the head of the Financial Services Authority, Lord Turner, in effect called for his departure in late night phone calls on Monday to Marcus Agius, Barclays chairman.

But Barclays soon dragged Paul Tucker, deputy BoE governor, and “senior Whitehall figures” from the previous government into the controversy by publishing a document suggesting they may have known of – and even condoned – the bank’s repeated “lowballing” of its submissions to the rate-setting process during the financial crisis.
The bank released Mr Diamond’s contemporaneous notes of a 2008 conversation – one of only three “notes to file” he has written in his career – in which he wrote that Mr Tucker had passed on concerns from Whitehall about Barclays’ Libor submissions, adding that “it did not always need to be the case that we appeared as high as we have recently”.
AlistairDarling  EdBalls  gordonbrown  MervynKing  GeorgeOsborne  davidcameron  UK  politics  culture  negligence  misconduct  fraud  creditcrunch  bank  crisis  banking  crisis  FSA  BBA  greatrecession  GFC  BoE  2012  2008  EURIBOR  LIBOR  PaulTucker  barclays  bobdiamond 
july 2012 by asterisk2a
World on course for next crisis, warns Gordon Brown - Telegraph
Mr Brown said the "resolve" to act seen immediately after the crisis has been replaced by indecision and vested interest. He urged politicians at the next G20 summit, which takes place in Cannes in November, to take control of a globalised financial system which is still "perilously" unregulated.

They fear "with good cause" that if Greece has to restructure its debt - effectively default - it could unravel a chain of trades based on the problematic debt and lay bare the interconnectedness of institutions around the world, said Stephen Lewis, an analyst at Monument Securities.
gordonbrown  2011  PIIGS  default  restructuring  greece  banking  EMU  lehmanbrothers  finance  financialcrisis  FinancialCrisisInquiryCommission  toobigtofail 
may 2011 by asterisk2a
Alan Greenspan: The ultimate double agent | ForexLive
My pet Gordon Brown theory was that he was a descendant of Rob Roy or William Wallace and that he was secretly planning to bring down the UK from the inside. Funnily enough this theory never did take hold despite the mountains of evidence in my favour Now come the Greenspan conspiracy theories, like this in the Sydney Morning Herald, which state that Alan is in fact an old closet Libertarian who’s ultimate goal is the demise of the Fiat system. Well it’s more fun than reading some more RBA analysis!

http://www.smh.com.au/opinion/politics/uncle-sam-heading-closer-to-a-fresh-financial-meltdown-20110404-1cyil.html
gordonbrown  alangreenspan  conspiracy  greatrecession  financialcrisis  2008 
april 2011 by asterisk2a
Cameron Takes Over as British Premier After Brown Resigns - NYTimes.com
Speaking outside the prime minister’s office at 10 Downing Street, Mr. Cameron said his Conservative party, which failed to win an outright majority in last week’s elections, would form a coalition with the center-left Liberal Democrats — a potentially fraught arrangement that Mr. Cameron admitted could pose “all sorts of challenges.”

But, he said, the arrangement would provide the “strong, the stable, the good and decent government that we need so badly.”

Five days of wrangling and political stalemate that followed Britain’s parliamentary elections wrapped up with remarkable speed on Tuesday, with Mr. Cameron entering 10 Downing Street just a few hours after his predecessor, Gordon Brown, exited.
davidcameron  gordonbrown  uk  politics 
may 2010 by asterisk2a

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