Joined up thinking for the Irish Left
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Rebuilding Ireland: Long on Promise, Short on Detail Mon Aug 29, 2016 22:20 | Eoin O'Mahony
Brexit and Other Issues: Comments on the Current Situation Mon Aug 29, 2016 21:52 | Brendan Young
Bin Charges: From Private Circus to Public Service Tue Jun 21, 2016 12:38 | Michael Taft
Irish Left Review >>
What is Dogmatism and Why Does It Matter? Wed Mar 21, 2018 08:10 | Sylvia Smith
The Case of Comrade Dallas Mon Mar 19, 2018 19:44 | Sylvia Smith
Review: Do Religions Evolve? Mon Aug 14, 2017 19:54 | Dara McHugh
Fake News: The Epistemology of Media Wed Jun 07, 2017 11:52 | Gavin Mendel-Gleason
Officials and Provisionals Sat Apr 01, 2017 22:54 | James O'Brien
Spirit of Contradiction >>
Interested in maladministration. Estd. 2005
Alison O’Connor and professional deceit
Educating Marian Finucane Anthony
Denis O’Brien: Are the sharks closing in? Anthony
Kathy Sheridan: Afraid to speak truth to power? Anthony
Una Mullally: The youth of Ireland are on the march Anthony
Public Inquiry >>
A bird's eye view of the vineyard
Lithuania Brings Out Payable Food Stamps, by Ruslan Ostashko Sun Nov 18, 2018 18:01 | Scott
Translated and captioned by Leo. Make sure to press CC for English captions. The malicious witch Zrada (defeat), who is circling, and not keeping the Russophobes out of sight from
Moveable Feast Cafe 2018/11/18 ? Open Thread Sun Nov 18, 2018 15:30 | Herb Swanson
2018/11/18 15:30:01Welcome to the ‘Moveable Feast Cafe’. The ‘Moveable Feast’ is an open thread where readers can post wide ranging observations, articles, rants, off topic and have animate discussions of
Nov. 16, 2018: U.S. Exposes Assad?s ?Evil Plan? To Hurl Middle East Into Chaos Fri Nov 16, 2018 15:40 | Scott
https://southfront.org/syri... On November 15, US Ambassador to Syria James Jeffrey exposed an evil plan of Syrian President Bashar al-Assad to create ISIS and to hurl the Middle East, particularly Syria
Prophetic! Solzhenitsyn?s Famous Harvard Speech Predicted Complete Collapse of American Society Thu Nov 15, 2018 17:18 | The Saker
House of Cards finale: #MeToo, sure, but women are just as bad as men Thu Nov 15, 2018 15:33 | The Saker
by Ramin Mazaheri for The Saker Blog (SPOILER ALERT! This article is not very good.) If House of Cards only had a first season and a final season it could
The Saker >>
Royal Bank Of Scotland -owners of Ulster Bank - Engaged In The Systematic Theft Of Business Customers’ Assets
crime and justice |
Monday November 25, 2013 23:55 by T
Max Keiser on the “financial terrorism” of Royal Bank of Scotland
The headlines have recently reported that the Royal Bank of Scotland owners of Ulster Bank in Ireland carried out widespread fraud and engaged in forcing customers who were repaying their debt and otherwise healthy, into going out of business and this allowed the bank to pick up their assets namely their properties at a fraction of the true costs. They carried out this financial terrorism mostly against small firms who were too small to defend themselves.
In a blog by journalist Ian Fraser linked from the report that Max Keiser carries on this on his website, Ian writes:
Max Keiser is clearly over-the-top but he reflects the outrage that many feel today at the behaviour of the taxpayer-rescued bank RBS — which has today been confirmed to have been engaged in the systematic theft of business customers’ assets and other forms of outrageous skulduggery. The malpractice, which remains endemic inside the bank’s commercial and corporate lending, global restructuring group and West Register property arm (I have been covering this charlatanism since December 2010) is gaining wider exposure thanks to the efforts of the Leeds-based entrepreneur and overall IoD ‘director of the year 2012′ Lawrence Tomlinson.
In a report published today for the business secretary Vince Cable, Tomlinson makes clear that RBS routinely “distresses” otherwise profitable, stable and creditworthy businesses by “manufacturing defaults” in order to tip them into its recovery and restructuring division, GRG, and then to allow its West Register property arm to effectively steal their commercial property assets. In a policy statement in May 2009 the bank said GRG/West Register had an “appetite” for particular categories of property assets including “offices, retail and industrial premises, pubs, hotels, nursing homes, car dealerships and hospitals”.
What we have here is the financial giants instead of helping the base of the economy, are cannibalizing it. Surely the whole purpose of a bank is to help small businesses. And we can be sure if one bank is doing this, then it is likely a lot of the other banks are too.
It seems that this fraud went undetected because many of the people running these small business firstly didn't have the resources to find the bank, nor did they have the power, contacts and might to force the government, media or regulators to take any notice. A functioning system of checks and balances would have stopped this very early on, but it is clear the checks and balance system has long been made ineffective through corporate takeover.