Thursday, November 19, 2009

Cluster Bomb Trade funded by World's Biggest BANKS

Banks love to fund warfare, so no surprise here.
Banks finance both sides of a war, because there is so much profit to be made on the indebtedness that war brings

The deadly trade in cluster bombs is funded by the world's biggest banks who have loaned or arranged finance worth $20bn (£12.5bn) to firms producing the controversial weapons, despite growing international efforts to ban them.

HSBC, led by ordained Anglican priest Stephen Green, has profited more than any other institution from companies that manufacture cluster bombs. The British bank, based at Canary Wharf, has earned a total of £657.3m in fees arranging bonds and share offerings for Textron, which makes cluster munitions described by the US company as "leaving a clean battlefield".

Campaigners maintain the deadly weapons can explode years after combat, killing or maiming innocent people. HSBC will face protests outside its London headquarters today. Goldman Sachs, Bank of America, JP Morgan and UK-based Barclays Bank are also named among the worst banks in a detailed 126-page report by Dutch and Belgian campaign groups IKV Pax Christi and Netwerk Vlaanderen.Goldman Sachs, the US bank which made £3.19bn proft in just three months, earned $588.82m for bank services and lent $250m to Alliant Techsystems and Textron.

8 comments:

  1. Since I am on a bit of a roll with banks and their misery spreading.

    I guess that adage is true, misery loves company so the banks try to spread around as much of it as possible, from the IMF and their tuberculosis inducing poverty to cluster bombs, whose detonations have resulted in the loss of limbs of countless people, lots of children especially, worldwide.

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  2. Wow Pen, IMHO, this kinda story cuts right to the bone, go for the jugular, head shot.
    You should change your name to Diana, huntress extraordinaire.

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  3. The ones who make the money control the world.

    Hey, it's lucky that the US never signed that treaty against cluster bombs, otherwise they'd be prevented from dealing out freedom against the terrarists?

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  4. Not surprising really.

    You know me Pen, I am not religious by any means, but it always struck me that the only violent action Christ took was to flip out on the moneychangers.

    He had their number.

    Ban usury.

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  5. thank you anonymous, that is quite a compliment.

    Slozo, yes it is lucky for the US they never signed that agreement, it most definitely made the "war of terrorism" so much harder to fight, what with the inability to blow the limbs off of many small children.

    Yah, Maggie, I was thinking about that the other day when I saw the headline on some pointless magazine
    "Was christ a capitalist"
    stupid!

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  6. btw: the link to the originating source is now in the post, oops I forgot it yesterday :(

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  7. I will get out of stealth mode Penny. I confess to being anonymous. I was knocked off line in late September by what I believe was an electro magnet pulse, that fried my monitor. I was mean mouthing the bad guys... I guess. Who knows.Discretion is the watch word from now on. I am dissapointed in McGowan's foray into Nasa(Nasca). He needs to get back to LA where his roots are . Smoking Mirrors actually mentioned Manson yesterday. I do hope he pursues that vein again(The Process Church was also mentioned) Oh well, good to be back.

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  8. Peter, glad to see you about, I had wondered where you had gone off to?

    I was ok with the NASA stuff from Dave , it was a nice break, but you will be glad to know, that he will be back at Laurel Canyon again!!

    I heard him interviewed on Meria, his last time on and he said he was getting back to it.

    So keep an eye on his place, I know I have been :)

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