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Banker and economist to explain to Occupy St Paul’s how bankers falsify profits and misappropriate bailout funds


Tomorrow, Saturday December 10th at 1.30pm, my colleagues Gordon Kerr and Kevin Dowd will appear on the steps of St Paul’s Cathedral to explain how bankers falsify profits and misappropriate bailout funds for personal benefit. Kerr will set out: How derivatives transactions are structured to game flawed accounting rules and Basel regulations and create illusory profits and capital; How Basel rules, although deeply flawed, cannot actually function given the present false accounting system; A specific example of how his team […]

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