Tag Archives: Lord Adir Turner

The first rule of capitalism: bad firms like RBS should be left to go bankrupt and criminals should go to jail

Crimes committed: why are no bankers in jail?
Crimes committed: Why are no bankers in jail?
By Mitchell Feierstein Author of Planet Ponzi

How nice of you: that gift you just made to charity. No one asked you if you wanted to make the gift. No one asked you which charities you’d want to support. But still. You made it. So thanks. Well done.

 If you’re confused – if, by chance, you don’t remember authorising anyone to pick your pocket to give to charity – then welcome to the world of financial services. Here’s how it works. Greedy, irresponsible morons on huge salaries and inflated bonuses take RBS, one of Britain’s leading banks, and trash it to the point of insolvency. Continue reading