Monday, 20 December 2010 11:41 'Investment bankers at the bailed-out Royal Bank of Scotland are in line to land £1billion in bonuses in defiance of increasingly frantic Government demands for restraint. Business Secretary Vince Cable yesterday issued the first explicit threat from the Coalition of a new supertax on ‘scandalous’ City handouts. It came amid mounting concern in Whitehall at plans by the leading banks to pay out a total of up to £7billion in the next few weeks. Mr Cable threatened new transparency rules if the banks refused to put their own house in order – describing the bonus culture as a ‘poisonous fungus’ that has been allowed to flourish ‘in the dark’. He also said he wanted the biggest financial institutions broken up.' Monday, 20 December 2010 11:41 'Investment bankers at the bailed-out Royal Bank of Scotland are in line to land £1billion in bonuses in defiance of increasingly frantic Government demands for restraint. Business Secretary Vince Cable yesterday issued the first explicit threat from the Coalition of a new supertax on ‘scandalous’ City handouts. It came amid mounting concern in Whitehall at plans by the leading banks to pay out a total of up to £7billion in the next few weeks. Mr Cable threatened new transparency rules if the banks refused to put their own house in order – describing the bonus culture as a ‘poisonous fungus’ that has been allowed to flourish ‘in the dark’. He also said he wanted the biggest financial institutions broken up.' Monday, 20 December 2010 10:32 'This is no ordinary bank. The ATMs are in Latin, priests use a private entrance, and a life-sized portrait of Pope Benedict XVI hangs on the wall. Nevertheless, l'Istituto per le Opere di Religione (the Institute for Religious Works) is a bank, and it is under harsh new scrutiny, including money-laundering allegations that led police to seize €23m (£19.5m) in Vatican assets in September. Critics say the case shows that the "Vatican Bank" has never shed its penchant for secrecy and scandal. The Vatican calls the seizure of assets a "misunderstanding" and expresses optimism that it will be cleared up quickly. But court documents show that prosecutors say the Vatican Bank deliberately flouted anti-laundering laws "with the aim of hiding the ownership, destination and origin of the capital". The documents also reveal investigators' suspicions that clergy may have acted as fronts for corrupt businessmen and the Mafia. The documents pinpoint two transactions that have not been reported: one in 2009 involving the use of a false name, and another in 2010 in which the Vatican Bank withdrew €650,000 from an Italian bank account but ignored bank requests to disclose where the money was headed.' Monday, 20 December 2010 10:15 'How many times does Congress have to stick it to us before we realize that this body politic has no other function than to obey its corporate masters? If you think that you are being represented by these crooks, liars and thieves, then think again. The “Food Safety” bill is alive and has taken so many twists and turns to end up on the verge of becoming law of the land that nobody in his or her right mind could possibly believe that they are not going to cram this garbage down our collective throat no matter what. And if you thought that good old Sen. Tom Coburn, who had been blocking the legislation would ultimately hold onto what little integrity he could muster and save the day by rescuing us from impending Food Safety doom, think no more. “He lifted his objection at the final moment” (Alexander Bolton), and this travesty of justice was passed in the Senate by unanimous consent. So, I present to you, unequivocally, the final straw that broke the camel’s back for any sane person relying on Congress to be anything other than what it is; and that is a reeking cesspool of corruption and deceit. It would seem that the only thing to do now is bend over and…well, you know the rest. The House will, quite possibly place the final nail in the coffin on Tuesday.' Read more: S.510 Food Fascism Passes Unanimously In Senate - Reid Traitor Monday, 20 December 2010 09:44 'If Topshop boss Sir Philip Green is concerned about protesters laying siege to his stores, he certainly isn't showing it. This was the businessman yesterday as activists targeted Topshop stores again in protest at the companies' tax avoidance policies. Sir Philip is on holiday in Barbados and was pictured enjoying the Caribbean sea with his daughter Chloe, 19. The family are spending Christmas and New Year at a £16,000-a-night villa at the exclusive Sandy Lane Hotel.' Read more: Direct Action Gathers Pace as Stores of Tax-Dodger Billionaire are Targeted Monday, 20 December 2010 09:40 'China is preparing to build its first aircraft carrier – as Britain’s once-proud Royal Navy shrinks to its smallest size since the days of Henry VIII. The Chinese move comes weeks after David Cameron axed Britain’s carrier fleet and halved the overall number of warships to 25. Even though two super-carriers – HMS Queen Elizabeth and HMS Prince Charles – are being built at a cost of £5.6 billion, China’s naval plans will see it dwarf the UK’s dwindling power as a seafaring nation.' Read more: watch for the military and economic rise of China
Monday, 20 December 2010
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