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Thursday, 2 August 2012

Thursday, August 02, 2012 Posted by Jake No comments Labels:
Posted by Jake on Thursday, August 02, 2012 with No comments | Labels:

British Bankers Association was 'warned weekly' about Libor manipulation, says former rate-compiler

The British Bankers Association (BBA) was given weekly warnings in 2008 that the process of setting the Libor interest rates was being distorted. BBC NEWS
(On each occasion the BBA acted with the determination it is famed for. It did nothing)

London 2012 Olympics empty seats row: Locog calls in the army (again) 

Our soldiers are brought in to fill empty seats. Logoc refuses to rule out seeking G4S volunteers if problem persists. GUARDIAN
(Yes, you heard that right. G4S's reward for cocking up could be thousands of free seats at London 2012. But will they turn up?..)


Government offers banks £80bn 'carrot' of cheap money in latest bid to unfreeze lending

The Funding for Lending scheme (FLS) lends only to banks at low interest rates, on the condition they pass it on in the form of cheaper loans and mortgages. But much of the new lending may end up in the pockets of already credit-rich and equity-rich borrowers, such as buy-to-let landlords. DAILY MAIL
("The only way to get us out of this mess is to get the banks to offer the sort of cheap credit that got us into this mess" said a highly qualified expert Treasury spokesman)

 
The Premier League helped to fund the public prosecution of a man accused of importing cut-price satellite decoder cards
Several pubs have been pursued for finding cheaper ways to show games to their customers. It raises questions about how UK prosecutors are funded and the impartiality of their decisions. FINANCIAL TIMES
(...questions no pub quiz in Britain would even bother asking. The answer's too easy.)


British Gas urged to cut prices after 'shocking' rise in profits
Experts claim price rises for residential customers account for 23% increase in British Gas's profits in first six months of year. GUARDIAN
(Is it cheaper for us to burn our own money yet?)

Don't buy milk from Morrisons, Aldi, Lidl or Londis, say dairy farmers
Milk farmers say supermarkets are driving them to bankruptcy after cut to 'farm gate' price from 30p to 25p a litre GUARDIAN
(Supermarkets can't abide loosening the firm grip of their warm hands on the udders of our farmers)

FSA will force banks to ensure customers that sign up to "added extras" current accounts can actually claim the extras 
Banks have been caught selling insurance, within these fee-paying packaged accounts, to people who can never claim on it. Insurance products include worldwide travel insurance, international mobile phone insurance, comprehensive AA breakdown cover, and home emergency cover. GUARDIAN
(...but still no sign of insurance against being ripped off by banks salesmen. Now that's something we know we ALL need)

Thousands of juniors start jobs in NHS 'killing season' 
Thousands of junior doctors will start new jobs on 1st August, known in medical circles as Black Wednesday, because death rates rise by six per cent. TELEGRAPH

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