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I thought this was common knowledge. Private Eye had a good write up on some similarly egregious practices a couple of years back: https://www.thebureauinvestig

I thought this was common knowledge. Private Eye had a good write up on some similarly egregious practices a couple of years back: https://www.thebureauinvestigates.com/2012/08/09/london-is-the-global-capital-of-money-laundering/ https://www.thebureauinvestigates.com/2012/08/09/london-is-t... I wonder how long until the banking industry gets the disrupt it so desperately needs.

themartorana 10y ago
Never? Minus some actual pleb revolution, banks all but run federal governments through rotating door hires and friends in high places. Banks paying millions in fines have billions in cash and assets and trillions in managed assets. As long as money rules the earth, there will be no tech lead "disruption" of any kind. Besides, their tech is incredibly advanced.
- cynicalkane 10y ago
  The UK is not federated. England, the subject of this article, is even less of a "federal" government than the UK. If we're gonna start talking about power structures, it's important to get the power structures right. The majority of important world states are not federal.
  - themartorana 10y ago
    Central government then. Semantics doesn't change the point, but I'm sure you realize that.
    - cynicalkane 10y ago
      You can't say that government is controlled by rich people, and then say the fundamental nature of that government is "semantics". You're proposing a theory of government; it is your job to get right the basic facts.
- boothead 10y ago
  Their tech is not incredibly advanced. Their tech is is shower of shit that lurches from one disaster to another. Source: have worked in a few investment banks.
tormeh 10y ago
How are you going to disrupt it? Offering cheaper prices for tax-dodging? The essence of startup disruption is to offer customers better value, and in this case the customers are tax-dodgers and mafioso. Embargoing the countries where personal financials aren't required to be public on the Internet might work, but who's going to embargo the US? It's ridiculous.

themartorana 10y ago

Never? Minus some actual pleb revolution, banks all but run federal governments through rotating door hires and friends in high places. Banks paying millions in fines have billions in cash and assets and trillions in managed assets. As long as money rules the earth, there will be no tech lead "disruption" of any kind. Besides, their tech is incredibly advanced.

cynicalkane 10y ago
The UK is not federated. England, the subject of this article, is even less of a "federal" government than the UK. If we're gonna start talking about power structures, it's important to get the power structures right. The majority of important world states are not federal.
- themartorana 10y ago
  Central government then. Semantics doesn't change the point, but I'm sure you realize that.
  - cynicalkane 10y ago
    You can't say that government is controlled by rich people, and then say the fundamental nature of that government is "semantics". You're proposing a theory of government; it is your job to get right the basic facts.
boothead 10y ago
Their tech is not incredibly advanced. Their tech is is shower of shit that lurches from one disaster to another. Source: have worked in a few investment banks.

tormeh 10y ago

How are you going to disrupt it? Offering cheaper prices for tax-dodging? The essence of startup disruption is to offer customers better value, and in this case the customers are tax-dodgers and mafioso. Embargoing the countries where personal financials aren't required to be public on the Internet might work, but who's going to embargo the US? It's ridiculous.