Category Archives: Finance

Comparative Poverty: The Top 1% vs the Top 0.1%

Someone at the bottom of the top percentile of incomes is on about £120,000 a year. The top 0.1%, however, gets over £500,000…. The very rich price the reasonably rich out of houses and schools: top private school fees have … Continue reading

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Why posh boys and girls run the Arts

Not long ago, my wife, a composer, asked me if I would ever advise a student from a low-income family to pursue a career in the arts. “What do you mean? Of course.” “Really?” “If that’s what they wanted to … Continue reading

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The world’s most successful criminals: Banks

A single small branch of Danske Bank in Estonia processed £120 billion between 2007 and 2015. “No one really knows where this money went. All we know is that the last people to see it was…three large banks in the … Continue reading

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Fancy banking in the Ukraine?

There is a bank in Ukraine that is offering *21%* interest on a checking account. But you must take 10,000 steps a day, tracked by their app, to qualify. Miss one day and you get nothing. I can’t decide if … Continue reading

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Why the Conservative Party Treasurer reads obituary columns

According to the Tory Party’s own accounts last year [2017] it received twice as much in donations from the dead, in the form of legacy payments, as from the living. It lost half of its membership between 2005 and 2013. … Continue reading

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Some banks who wrecked the world economy

Britain: 2009 In Britain, the most egregious case was RBS, a now majority state-owned bank that announced in February 2009 that it intended to honour £1 billion in bonus contracts.1 2012 The Barclays chief executive, who was paid £18 million last … Continue reading

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Book Review: Michael Lewis ~ Flash Boys: Cracking the money code

This is a wonderfully entertaining book, which reads like a novel, an incomprehensible techy textbook and a polemic against the US stock market. Parts were beyond my understanding. For example- “Round-trip travel time from Chicago to New Jersey has been … Continue reading

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