Northern Rock - those in the queue were right
Friday, September 21st, 2007I have spent some time talking to people about the ‘shadow’ structure that Northern Rock created and which I wrote about earlier this week. My
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Prem Sikka on Northern Rock
Thursday, September 20th, 2007Prem Sikka has been one of the most consistent, and most consistently right commentators on accounting, tax and financial responsibility issues over the last fifteen
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Time to reclaim money for the benefit of us all
Wednesday, September 19th, 2007I’ve been musing some more on the consequences of the government guaranteeing deposits with Northern Rock. By implication they have guaranteed deposits with all banks:
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All money is a confidence trick
Tuesday, September 18th, 2007It amazes me that most people think that money is printed. It isn’t. Only 3% of all money in the UK is created by the
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Charge banks 10% tax for guaranteeing their deposits
Tuesday, September 18th, 2007The Chief Executive of Northern Rock sent a note to all his staff yesterday afternoon saying: I am delighted to tell you that the Chancellor
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Northern Rock - the questions needing answers
Monday, September 17th, 2007Northern Rock is in trouble because it has financed its mortgage book by borrowing commercial money rather than taking deposits from customers. To do that
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The role of government
Monday, September 17th, 2007British banking faces its biggest meltdown since the early 1970s (I just recall them) as Northern Rock heads for the wall. I could write my
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Where is the liquidity crisis?
Friday, September 14th, 2007The UK’s banks are beginning to be hit by a liquidity crisis. They won’t lend to each other because they don’t know what debt the
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TUC supports abolition of the domicile rule
Sunday, September 9th, 2007The Observer has this morning covered the calculations undertaken by Tax Research LLP into the cost of the UK’s domicile rule; work that was sponsored
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