Author: Podcast News

Our new government has a special historical responsibility to rebuild trust in our political system. After recent scandals, people have lost trust in politics and politicians. It is our duty to restore their trust (…) We must be different – be careful with public funds. We are transparent about what we do and how we do it. We resolve to ignore undue influence and act in the national interest. (Ministerial Code, May 2010, Foreword by David Cameron) Recently, we carried out an independent inquiry into the conduct of Jeremy Hunt, Secretary of State for Culture, Media and Sport, in relation…

There is one question that establishment politicians and economists seem to run away from: Why can't the British Government, through the Treasury, print trillions of dollars of interest-free money, based on the common wealth and integrity of the country?Why do our politicians turn directly to private bankers who create money out of nothing… just numbers on a computer screen… and then, once this “money”, or more accurately this “nothing”, is received by the Government, we, the taxpayers, begin paying exorbitant interest rates that cost the British people at least £125 million a day, and over £44 billion a year, in…

Matt Zames, 41, is co-head of fixed income at JPMorgan Investment Bank and head of capital markets at the mortgage bank. As the new chief investment officer, he will continue to manage mortgages, but he will also be in charge of $70 trillion worth of derivative contracts. Prior to joining JPMorgan, Mr. Zams worked at Credit Suisse and before that was a trader at Long-Term Asset Management, the hedge fund that collapsed in 1998 with losses of $4.8 billion. Matt Zames profited handsomely from JP Morgan's emergency purchase of Bear Stearns after the collapse of Lehman Brothers. Whether it was…

The effects of the global real economy collapse are being felt in China, but the country continues to invest in science and infrastructure, two essential components of future growth.There's no doubt that China is feeling the effects of the global economic downturn. Electricity generation plummeted in April and is up just 0.7% over the past 12 months. Chinese shipyards have received few orders this year. Home sales have collapsed and manufacturing output is slumping. These are all indicators that the Chinese economy is stagnating, and of course the inevitable words from global financiers to the Chinese government are: “We need…

The effects of the global real economy collapse are being felt in China, but the country continues to invest in science and infrastructure, two essential components of future growth.There's no doubt that China is feeling the effects of the global economic downturn. Electricity generation plummeted in April and is up just 0.7% over the past 12 months. Chinese shipyards have received few orders this year. Home sales have collapsed and manufacturing output is slumping. These are all indicators that the Chinese economy is stagnating, and of course the inevitable words from global financiers to the Chinese government are: “We need…

For the first time, civil servants' jobs may be at risk as a result of their “performance.”The initiative, led by Frances Maude's Cabinet Office, will see a review of the Whitehall civil service announced next month. Francis Maud said that civil servants themselves were “frustrated and concerned” that no action was taken against the “worst performers” and that those who worked hardest were not given the recognition they deserved. “I do,” he claims. However, this statement appears to be at odds with Whitehall's performance-related bonus culture. At Whitehall, bonuses of up to £187,500 were given out on top of annual…

The government has again refused to publish an official assessment of the risks associated with its NHS reforms, contrary to the law.Health Secretary Andrew Lansley said in a statement: This is not a step I took lightly. I am a strong believer in increased transparency, and this Government and this department have done much more than its predecessors in publishing information about the performance and outcomes of its policies. But we also need a safe space where officials can give full and candid advice to ministers in developing policies and programmes. This government is increasingly becoming a secretive state, where…

Today, the Queen addressed both Houses of Commons and set out the Union's future plans for the year ahead. As expected, reform of the House of Lords was on the list.The bill has been hailed as a “power to the people” type of bill, as it would allow the Speakers of both chambers to select civilian committees to “select” parts of the House. Nothing could be further from the truth. Lord's.Like the House of Commons, the majority is elected by popular vote, resulting in party politics in both chambers. The apparent intent is to remove obstacles to the passage of…

Last Friday, Hungarian Prime Minister Viktor Orbán accused the European Union and the IMF of imposing political conditionalities on badly needed EU and IMF loans.Last Friday, Hungarian Prime Minister Viktor Orbán accused the European Union and the IMF of imposing political conditionalities on badly needed EU and IMF loans. Hungary applied for a 15-20 billion loan last November, before it knew what was happening, but was warned that financial assistance would depend on demonstrating a commitment to democratic principles. The government of Viktor Orbán has come under fire from the banking and political establishments since it enacted a series of…

The euro crisis continues to unfold as Europe's debt bubble becomes more fragile. While media attention has been focused on Greece, Spain is shaping up to be the next big country to collapse.Borrowing costs from the market have been fluctuating around 6% as so-called market sentiment gauges Spain's prospects. The market seems to have become more convinced that Spain is a better investment destination than it was before, as Spanish government bond interest rates fell to 5.89% yesterday. Spain was expected to raise 3 billion euros in a bond auction, but managed to raise 3.2 billion euros, more than expected.…