Leveller

Northern Rock sold off cheap by cash strapped spiv.

Vince Cable Give Support

Vince Cable said the the Prime Minister holds the “rather quaint view” that “protesting is something you, on the whole, should do on two feet, rather than lying down – in some cases in a fairly comatose state”.

Here is a suggestion Vince: Fucking Do something.

Image mashup:
Vince by bisgovuk CC-BY-NC-SA
Tents by towo CC-BY-NC-SA

Foreign Secretary with Tzipi Livni, originally uploaded by Foreign and Commonwealth Office.

A mere 10 days after shaking hands with the renowned war criminal Tzipi Livni. On the BBC Andrew Marr show the British Foreign Secretary, William Hague further prostitutes his sorry arse, to Banking interests declaring that “belt tightening” is needed by all the worlds proles to compensate the impoverished Bankers that caused the mess.

governments controlling their debts and deficits would be the solution.

Karnak Temple Complex

Bad weather to blame for poor the economic recovery.

So says George Osborne the Government Turkey in Chief.

Alan Johnson in Birmingham, originally uploaded by Downing Street.

What a fucking cunt. The sooner this shite is buried in some landfill like the slimy piece of refuse he is the better.

here we go again…

Originally uploaded by loungerie

American Republican’s say that because Ms Pelosi was mean to them, they decided to throw their toys out of the pram in a fit of pique. Apparently throwing themselves into a major recession it is more important so as to preserve their cherished beliefs in Reaganomic market voodoo.

Perhaps the next time they vote on this they’ll add a clause to grab back the $36 billion in bonuses the city spiv’s paid themselves last year.

EDIT: following the vote $1.2 trillion was wiped of US share prices.

That’s a big whack out of everyone’s 401K and all because Nancy made the Republican’s cry.

The US Federal Reserve bails out AIG with almost $100,000,000,000 as its stock value crumbles. But what has brought this giant of insurance down? The answer appears to be that the value of AIG’s investments known as Credit Default Swaps (CDS), apparently these are supposed to be a form of insurance policy (AIG’s business is insurance) against bad debt.

At the end of last year concerns were being expressed that the value of these insurances were grossly overestimated resulting in a write down of $4.88 billion.

It seems that not only was AIG’s insurance risk assessment lacking but their Crisis Management Services just wasn’t up to the job either.

Over the last couple of decades companies like AIG have charged huge fees, and paid themselves massive bonuses, for advising on, and selling derivative investments like Credit Default Swaps.

Today many suspect these derivatives are worthless.

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JPBR-1707-3-B World Bank

Originally uploaded by
World Bank Photo Collection

Ten days ago news was released of the discovery of a tribe of Amzonian Indians in rainforest in the state of Acre in Western Brazil.

The last tribe to be contacted were the Murunahua tribe in neighbouring Peru, 50% of which subsequently died of colds and other illnesses.

With modern society on their doorstep the clock cannot be turned back, but they should be allowed the time and space to decide how and when they will interact with the 21st century. To that end they need to be protected from loggers, gas and oil speculators, and Evangelical Christians.