George Monbiotdraws a parallel between unscruplulous firms that dump toxic waste on poor countries and banks that offload their toxic debt in a similar way. He refers to Barclays and its recent attempt shunt its CDOs and dodgy mortgage assets to a company in the Cayman Islands. A better example of financial fly-tipping, though, is Merrill Lynch’s attempt to dump rubbish onto [...]
Read the complete post at http://flipchartfairytales.wordpress.com/2009/09/23/financial-fly-tippers/
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23 Sep 2009 8:08 PM
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Flip Chart Fairy Tales
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