I recommend watching this edition of Panorama, broadcast last night.
It looks at those abusing UK bankruptcy law.
It notes how easy it is for fraudsters to form companies - even from within prison.
And it notes the lameness of the government's excuse. I quote the concluding comments of the programme
My investigation has revealed a bankruptcy system fraught with problems. A lack of resources; regulation, a lack of monitoring and robust punitive measures.
The government is quick to say that business is key to a healthy economy
But allowing the unscrupulous to flourish puts that at risk.
I noted in another post this morning:
The UK government really is intent on promoting opportunity for money launderers and those committing related crimes, such as tax evasion.
I asked:
Why is that?
What is it that the government thinks to be to the advantage of the UK when doing so?
That's a question in need of an answer.
The very same questions could be asked as a consequence of the conclusions drawn by the Panorama programme.
We need to know, why is our government is so keen to turn a blind eye to crime?
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Bankrolled by financial criminals – maybe?
Because they’re the lawless party!
To expect the Tory party to crack down on financial crimes is like expecting Tony Blair to hand himself in at the Hague for committing war crimes.
‪1. Most major world powers are proxies for global corporate finance sector. Nation-States are spent powers in any other sense than to delude the governed by maintaining an illusion of law & order,stability,tradition,continuity against the reality of despotism‬.
2. Criminality (opportunist and organised) is endemic amongst our institutions and office-holders, where the culture has spread from the business&finance world,closely related in ethos to organised crime‬.
‪3. So, UK has racketeer govt selling out citizens to its extortionist paymasters;by any law-based measure this is criminal .However,in these circumstances,all such distinctions are blurred in favour of business,giving it all a veneer of legality‬
I heard of a similar situation with RBS defrauding customers and making use of ‘data-cleaners’
https://renegadeinc.com/white-collar-crime-mind-the-gap/
Similar in that it’s hard to tell if the government is ignorant, incompetent or simply facilitating crime.
Er…because they do it themselves?
It’s normal for them.
IMHO the UK has been narrowly avoiding bankruptcy since 2008 due to the failed Neo-lib venture started in 1979. Bank security (the bulk of our economy) depends on ever rising property prices and the gov duely obliges because their poor governance has left all the eggs in one basket. Brexit is a backfired excuse & a flawed cost-cutter. They cannot allow Scotland’s resources go. They are held to ransom by the press barons and the wealthy corps & individuals because they are utterly desperate for cash and cannot contemplate the EU & rest of the world catching on to how dire their fix (the economy would sink even lower than pessimistic brexit predictions). Hence the need to cut the population by any and all means and keep any cash flow even criminal. Hinkley point is a palm grease of the Chinese in case they need a sub. No they won’t admit it, Labour were at the helm but were as fully paid up neo-lib as Mrs T & of course the con/dems & Osborne have made a bad situation infinately worse.
Family and friends make a comfortable living from the financial crimes of others, one can’t be too judgemental darling.
“Gosh. If we crack down on financial crime, the criminals will take their business elsewhere to other countries with no regulation in place …and then where will we be? We need their business, don’t we?”
I do suspect that’s the way of thinking for many people, even for those who don’t directly profit from this kind of crime.