If you are new to this blog, you are invited to read first “The Largest Heist in History” which was accepted as evidence and published by the British Parliament, House of Commons, Treasury Committee.

"It is typically characterised by strong, compelling, logic. I loosely use the term 'pyramid selling' to describe the activities of the City but you explain in crystal clear terms why this is so." commented Dr Vincent Cable MP to the author.

This blog demonstrates that:

- the financial system was turned into a pyramid scheme in a technical, legal sense (not just proverbial);

- the current crisis was easily predictable (without any benefit of hindsight) by any competent financier, i.e. with rudimentary knowledge of mathematics, hence avoidable.

It is up to readers to draw their own conclusions. Whether this crisis is a result of a conspiracy to defraud taxpayers, or a massive negligence, or it is just a misfortune, or maybe a Swedish count, Axel Oxenstierna, was right when he said to his son in the 17th century: "Do you not know, my son, with how little wisdom the world is governed?".

Monday, 14 January 2013

Greg Pytel: "Third Sector Performance"

Graham Manville of University of Southampton and Richard Greatbanks of University of Otago published a book, with Gower Publishing, "Third Sector Performance". In the first chapter the book is citing extensively the report for the House of Commons Treasury Committee, "The largest heist in history", which was the founding article of this blog.

Here is the link to the book's Chapter 1.

Here is the link to the book's Forward.

Here is the link to the book's Introduction.

1 comment:

  1. The game of Monopoly.
    Where does all the money come from?
    Is it the banker or those players who pass go?
    If memory serves me right the banker can even write IOU's for the factitious (sic) money in the game.
    Have TWO DIFFERENT families play monopoly with the IOU bit in guess who the Banker writes IOU's for and guess who gets to go thru bankruptcy.