Outsourcing promises cost savings in a time of austerity. History shows these promises of efficiency and cost savings are false. But even if they aren't don't give up your rights in exchange for a handful of silver.

Hold on to your rights.  Rights are not given to you by the powerful through their benevolence. Rights are given only when the powerful need you to fight their wars, work in their companies, or vote for them in elections. Rights are given reluctantly, and are taken back when the opportunity arises. Such an opportunity was created by the banking crisis, smuggled in under the cloak of 'Austerity'.In the last two centuries the industrial revolution and worldwide wars made the powerful very dependent on ordinary people. Robber barons needed ordinary...

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Outsourcing public services: a case of privatised profits, socialised losses

Guest post from the Scriptonite Daily blog; the "Barnet Casino" video is from The Barnet Alliance (produced by Azi Khatiri, drawn by Ellis Nadler).It is clear and beyond doubt: it simply costs more to live in a state where the basics we need to survive are handed over to private interests to profit from.  We had it better when we shared.So, the privatisation of our public services has seen a rise in personal debt; that makes sense.  But one would think that there would have been a corresponding fall in public debt.  Instead, as we...

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Cayman Islands revokes HSBC’s local banking license

KJ to the rescue?...SOURCE CAYMAN NET NEWS - The Cayman Islands Monetary Authority has officially revoked the banking license of HSBC S.A. (Cayman Islands Branch)The CIMA concluded that HSBC’s activities were “detrimental to the public interest, the interest of depositors or of the beneficiaries of any trust or other creditors and that the direction and management of its businesses has not been conducted in a fit and proper manner.” Following recent record fines for money laundering whilst paying multi-million pound bonuses to hundreds...

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Rip-off News round-up. Our pick of the last week's media (Thu 28th March)

New £80bn 'Help to Buy' scheme may get you on the housing ladder – but if prices rise, so does your debtHelp to Buy should initially mean it becomes easier to get on to the property ladder. But the Chancellor admits he hopes it causes a steep climb in house prices. But this will cause a mini bubble. When the scheme ends in three years, the number of buyers will drop, and house prices will fall again. This could leave many homeowners who bought a home with a small deposit stuck in negative equity — i.e. they owe more than the value of their home. DAILY...

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Cyprus latest: EU forces closure of banks

Cameron catches up on the news...SOURCE GUARDIAN: Cyprus bailout deal with EU closes bank and seizes large depositsThe Cypriot economy is based on a banking sector that has been used as a tax haven and a home to laundered money. The EU bailout plan will close the second largest bank, with the wealthiest depositors, shareholders and bondholders losing substantial amounts. OUR RELATED STORIES:The UK is a global leader in tax dodging services. Is Cameron serious about closing it down?In numbers (+ a cool animation): Global tax evasion and money l...

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Britain's tax policy helps those who help themselves

As the 2013 Budget cuts corporation tax to the lowest in the G20, we look at some statistics from our guest post from the Tackle Tax Havens blog $1-1.6 trillionAnnual cross-border flow of the global proceeds from tax evasion, corruption and criminal activities. Every $100 million recovered could fund full immunisations for four million children or provide water connections for 250,000 households.www.unodc.org/unodc/en/press/releases/2007-09-17.html$120 billionAmount that could be delivered to fight poverty per year by Tax haven crackdown.Oxfam, press release, 13th March 2009$100 billionAmount that the Senate Permanent Subcommittee on Investigations...

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Barclays' latest £38.5m fat cat bonuses

KJ, Fee and Chris try to keep up with the news...SOURCE GUARDIAN: Barclays quietly announces £38.5m fat cat bonuses on busy budget day, hoping nobody noticesBarclays promised it was "changing" after being fined £290m last year for its role in the Libor-rigging scandal. But it has just awarded its investment bank chief Rich Ricci £17.5m and CEO Antony Jenkins £5.3m. Ricci’s payday was dwarfed by the £44m he collected in 2010. Barclays were accused of sneaking out its news on budget day, in the hope that the media wouldn't notice.OUR RELATED...

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Rip-off News round-up. Our pick of the last week's media (Thu 21st March)

Barclays quietly announces £38.5m fat cat bonuses on busy budget day, hoping nobody noticesBarclays promised it was "changing" after being fined £290m last year for its role in the Libor-rigging scandal. But it has just awarded its investment bank chief Rich Ricci £17.5m and CEO Antony Jenkins £5.3m. Ricci’s payday was dwarfed by the £44m he collected in 2010. Barclays were accused of sneaking out its news on budget day, in the hope that the media wouldn't notice. GUARDIAN(But did Rich Ricci notice? £44m in 2010, £17.5m now? Probably not...)Morrisons...

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Government’s Treasury expert says Cameron is wrong over austerity “success”

Osborne hopes Cameron doesn't embarrass everyone again...SOURCE TELEGRAPH: Government’s Treasury expert says Cameron is wrong over austerity “success” The PM insisted that the Office for Budget Responsibility (OBR) had concluded that the austerity cuts had not reduced growth. But Robert Chote, head of the OBR, responded by writing an open letter to the PM saying his report had concluded exactly the opposite: cutting public spending reduces economic growth in the short term. He added that most other economists agree with him. OUR RELATED STORIES:As...

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