Friday, 21 June 2013

Bail-in of Western Banking System Officially Begins As UK’s Co-Operative Bank to Bail-in £1.5bn With 100% Losses

'In the wake of the Cyprus Popular Bank’s depositor bail-in, we alerted SD readers on April 2nd to the fact that bail-ins were coming to the US and UK, as The Fed and BOE had quietly created a resolution authority for unlimited bail-ins for TBTF banks.
Less than 3 months later, the bail-in of the western banking system has officially begun, as the UK’s Co-Operative Bank is seeking a £1.5bn bail-in recapitalization with junior bond holders and investors (including pension funds) facing a complete-100% wipe-out on £370m of permanent interest bearing shares (PIBS) issued by the Co-op.'

The American prison system is so massive that its estimated turnover of $74 billion eclipses the GDP of 133 nations.

'The American prison system is massive. So massive that its estimated turnover of $74 billion eclipses the GDP of 133 nations. What is perhaps most unsettling about this fun fact is that it is the American taxpayer who foots the bill, and is increasingly padding the pockets of publicly traded corporations like Corrections Corporation of America and GEO Group. Combined both companies generated over $2.53 billion in revenue in 2012, and represent more than half of the private prison business. So what exactly makes the business of incarcerating Americans so lucrative?'

Four days after pledging aid for Syrian rebels, Obama backs down

'President Barack Obama, less than a week after approving U.S. military aid to Sunni rebels, has backed away from proposals meant to oust Syrian President Bashar Assad. Obama, in his first interview on the subject, acknowledged that he was skeptical over measures to restrain Assad’s military amid its offensive against the rebels.'

Police Acted Unlawfully in Demanding Legal Observer Hand Over Personal Details

'Police officers who took the personal details of a woman "kettled" during a trade union rally in 2011 acted unlawfully, the High Court has ruled.
The court ordered the Metropolitan Police to delete records of Susannah Mengesha and film and photographs taken of her at the demo. Her details were taken while she was contained by police while a legal observer during the London protest. The Met said it would consider the ruling and "take forward any learning."'