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- Written by: Kamran Mofid
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The wrecking of Barclays is organised looting by those at the very top
The way Barclays has been debased to enrich a few hundred of its elite employees is also the story of Britain in recent decades
Barclays' top 238 employees took a total of £1.01bn home last year – or £4.27m each.
…And for the records, lest we forget:
And a few months ago, David Cameron attacked what he called the "dangerous rhetoric … that people in business are out for themselves. We've got to fight this mood with all we've got." And he singled out Barclays for praise for running a large work-experience scheme. The very next week, his Treasury minister demanded the bank close tax-avoidance schemes worth more than £500m
“You'd have learned precious little from watching Bob Diamond in parliament last week – apart, that is, from his love for his former employer. If pressed, you or I might admit to tolerating our jobs, to getting on with colleagues or, at the very least, to taking full advantage of the company stationery supplies. For the multimillionaire banker, however, this would be mere watery equivocation. The firm that had forced him out just the day before was "an amazing place", packed with "wonderful people". And, he told MPs over and over: "I love Barclays."- Details
- Written by: Kamran Mofid
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On 1 May 2012 in my Blog posting I discussed the meaning, values and significance of “Fundamental Principles of Olympism”. Continuing on that theme, it is refreshing to notice that more and more observes with an eye on justice and virtue are rightly criticising the destructive and disgraceful commercialism, consumerism, sponsorship by fast food giants, soda fizzy drinks manufacturers, factory outlets, and more of the Olympic movement in general and the Olympic games in London in particular. See below for such an example:
…'Wrong message'
“As a cardiologist I treat heart disease on a daily basis… But, having seen the unspeakable suffering caused by diet-related diseases, I would much rather these patients did not develop them in the first place...
In the context of an obesity epidemic I find it obscene that the Olympics chooses to associate itself with fast food, sugary drinks, chocolate and alcohol.- Details
- Written by: Kamran Mofid
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World economy: banking on disaster
An economic system in need of restructuring is frozen in aspic by the very characters who landed it in crisis
“There are two ways to gauge the world economy. One is to comb meticulously through all the data. Then there is the short cut – glancing at announcements from central banks. Last Thursday alone, the Bank of England announced it would pump another £50bn into the financial system, to add to the £325bn it's already put in since Lehman collapsed. The European Central Bank cut its already low main rate by another quarter-point. In Beijing, often held up as one of the few bright spots, the People's Bank cut rates for the second time in a month. Evidently, even China is sinking too. When it comes to a global crisis, all countries are eventually in it together.
From chronic unemployment to elusive growth, the symptoms are frightening – and the chosen treatment is inadequate.