In London, the financial mafia don’t take out death warrants on truth tellers, but powerful financial firms will destroy the lives and reputations of whistleblowers. Newsnight found they have a 100 per cent success rate
ROBERT STEELE: The article is riddled with inaccuracies and hyperbole which don’t really do the subject justice at the same time that it completely misses the meta story (stolen gold, rate manipulations, and more). A more measured commentary might have earned the author more credibility but the insistence on painting the UK as some sort of ‘flag of convenience’ for money-launderers and Mafioso is naive, at best, and disingenuous, at worst. Financially, the UK trades on very similar terms to most first-world countries and to single it out in such inflammatory terms shows either a lack of depth in the author’s understanding of the facts or points towards another motive for trying to train a global spotlight on the UK financial system; a system which admittedly suffers from the same weaknesses as most and yet which is highly-regulated and benefits from levels of government-oversight and law enforcement attention which are head-and-shoulders above most others and on a par with the best. By attaching the term ‘corruption’ to this particular financial paradigm one runs the risk of weakening the case for greater robustness and diluting the strength of argument as to what the problems really are. The author completely misses the larger drugs-gold-secrecy-screw the public story that is 200 years old.