UK Insurance: Nobody expects the Spanish inquisition…

I really never really thought of FSA or OFT as anything like the Spanish Inquisition, except insofar as the element of surprise is concerned…because, I reckon that most people would be very surprised if they brought about any kind of change to UK Financial Services, that benefitted the customer/policyholder – despite any good intentions!

Needless to say that, if my understanding of this investigation is correct, this is much more about protecting the interests of shareholders in relation to underwriting bank rights issues. BUT the point is that there is a lack of transparency (opacity) and that the rates have not reduced despite improved conditions.

My prediction…”hold on to your hats” because I have a feeling that this is the tip of the iceberg and the insurance industry can;t stand too much “heat”!!!

This is not and will not be the only such initiative. Opacity is the rotten core of all that is wrong with the UK (and global) Financial sector. Bailouts, fines and reprimands may have been tolerated but will not appease people beginning to feel the full effect of increasing economic uncertainty, rising cost of living, the likelihood of rising mortgage costs and falling services as a result of Public service cuts.

“NOBODY expects the Spanish Inquisition!
Our chief weapon is surprise…surprise and fear…fear and surprise…. Our two weapons are fear and surprise…and ruthless efficiency…. Our *three* weapons are fear, surprise, and ruthless efficiency…and an almost fanatical devotion to the Pope…. Our *four*…no… *Amongst* our weapons…. Amongst our weaponry…are such elements as fear, surprise…. I’ll come in again”

USA on the Edge of Chaos!?

I always thought I had a good idea what Tainter and (to some extent) Beck were alluding to when referring to “elites”, essentially, bringing the house down rather than give up what they have grown so accustomed to viewing as theirs to do with what they liked. But this piece is mind-blowing and so blatant SOMEONE needs to call a halt to it all now or the dollar won’t last until 2015 and I dread to think of the implications for US citizens….WikiLeaks exposing some truths should be the least of their worries.

Noam Chomsky has recently talked of the “profound hatred for democracy on the part of our Political leadership” and, more controversially drew comparisons with late Weimar Germany

Government Says No to Helping States and Main Street, While Continuing to Throw Trillions at the Giant Banks

If you can spare an hour (or so) please listen to what Prof Ferguson has to say. Initially I was on really interested to hear what he said about the relationship between Empires – Complexity Theory – Economics but I was unable to drag myself away. BUT do yourself a favour, skip the intro (it’s torture), click to “Watch Full Program” and, at least, spare 8mins to absorb Chapter 4. Unless you are pressed for time…or already know everything…you WILL … Read More

via Get “fit for randomness” [with Ontonix UK]

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