Thursday, 9 September 2010

Bailing the banks?

An item in the Guardian, a paper I rarely read, came to my attention recently, thanks to a link sent to me by The Postulant. Essentially the story is about John le Carre's latest book, which features a Russian Drug Mafiosi who is laundering money on a massive scale, and suddenly gets a conscience and wants to become an informer. So why am I bothering to report this?

Because this is a case of the truth being somewhat stranger than the fiction. It has now been revealed that a massive amount of drugs money is what saved several of the world's economies, including some western one's last year, and certainly saved a goodly number of the banks.

Three hundred and fifty-two billion dollars worth of dirty money in fact.

That kind of money simply doesn't go unnoticed, so now there has to be a question, which politicians gave the nod to the authorities to turn a blind eye and let the money become legitimate?

The Guardian goes further and points the finger at Gordon Brown and the Treasury, stating that London is now one of the major 'laundering' centres simply because Mr Brown, in his efforts to make London a bigger financial centre than New York, relaxed the rules and made the watchdogs stop asking awkward questions. It is almost a joke that at the same time as this amount of money was being laundered through a number of western banks and centres, the UK's Serious Crime Agency was boasting they had seized assets worth £300 million from crimnals... As The Guardian says, the words 'drop' and 'bucket' spring to mind.

OK, so the drugs money saved the world, now the question has to be asked, will the politicians who accepted this state of affairs admit it?

Probably not, after all, who wants to upset the Mafia Don that owns your favourite Football Club and probably the street you live in...

No comments:

Post a Comment