Search for fraudster Michael Brown

The City of London police are appealing for information about the whereabouts of bogus bond dealer Michael Brown, who was convicted in his absence this week of theft, false information and perverting the course of justice at Southwark Crown Court.

Brown, who who has been missing since failing to answer bail in June, was also the Liberal Democrats' biggest donor, and the party may be forced to pay back his £2.4 million donation.

The fraudster persuaded one investor to transfer $10m into an account on the premise that it was to fund trading in high value bonds on international markets.

During the trial, the jury heard that some of the money was paid to other investors as supposed profits from non-existent bond deals, but most went to pay for his lifestyle.

When investors grew suspicious about what had happened to their money, Michael Brown pretended he had terminal cancer to prevent then questioning him.

He also used false documents to cover his deceit and put pressure on his victims not to go to the police.

Detective Sergeant Nigel Howard from the City of London Police said: "Brown’s actions were despicable. He tricked investors into handing over millions of pounds and has been trying to escape justice ever since.

"It's time he faced up to his crimes and handed himself in to the authorities to serve the sentence he faces. I would ask the public for information on his whereabouts and to be aware he may have changed his appearance, for example by changing his hairstyle."

Nick Clegg, the Liberal Democrat party leader, told the Independent: "We took that money in good faith. We did all the due diligence checks we could have done, totally unaware of the crimes of which Michael Brown has now been indicted. Beyond that, I can't comment."

You can see a picture of Brown here.

Anyone with information on Michael Brown's whereabouts should call City of London Police on 020 7601 2222 or contact Crimestoppers anonymously on 0800 111 555.

Breaking news online: a history

Online journalism tutor Mindy McAdams has mapped out a history of breaking news online, from the Oklahoma City bombing to this week's Mumbai terror attacks.

Via Alfred Hermida, who writes here about the effect of the 1997 UK general election and the death of Princess Diana the same year on online news.

One event I would add would be the global financial crisis. Robert Peston first reported the story of the talks between Lloyds and HBOS on his excellent blog, which has become a valuable source of news for many who would normally rely on television.

A dramatic fall or rise of the FTSE 100 is itself news, and many people, including myself, monitor the index online (indeed, I have a widget on my blog that lets me monitor all the markets while I blog, e-mail or read news online.)

I think that more people are becoming interested in the markets, as they realise how a fall or rise can affect them?

What other developments have affected online news?

The Register: Portsmouth gets crime-predicting CCTV

I remember reading a 2000 AD comic years ago where the Judges were trying to predict crime before it happened, puzzling the usually confident Judge Dredd.

A slightly less disturbing tale from Portsmouth, where local paper The News reports that cameras programmed to alert operatives to suspicious behaviour are being tested.

Source: The Register.

Blogosphere criticised by Belgian Defence Minister

The Entrecard Blog reports that Pieter De Crem, the Belgian defence minister, has likened blogging to mudslinging.

This follows New York bartender Lubbe Bakker blogging in Dutch about how drunk De Crem was when she served him, as well as the revelation from a companion that he was there on public money to attend a meeting that he knew was cancelled.

Four days later she was fired from the B Café bar.

De Crem's comments on blogs were part of a statement made to the Belgian Parliament:

I want to take this opportunity and use this non-event to signal a dangerous phenomenon in our society. We live in a time where everybody is free to publish whatever he or she wants on blogs at will without taking any responsibility. This exceeds mud-slinging. Together with you, other Parliament members and the government I find that it’s nearly impossible to defend yourself against this. Everyone of you is a potential victim. I would like to ask you to take a moment and think about this.

Clearly Pieter De Crem, unlike myself, hasn't studied media law at all. Plenty of bloggers around the world are sued and some even imprisoned. Blogs are a publishing platform. They are not some unknown danger like a terrorist cell in training.

Still, I'm sure he can compare notes with our Hazel Blears.

And as the Entrecard Blog points out, De Crem's behaviour wasn't exactly responsible. Personally I'm glad that Lubbe Bakker had the courage to expose his jaunt at taxpayers' expense. They are the real victims here, not a drunk politician

This sounds like another politician who attacks the messenger.

In this case, it's only spread the message.

Underbelly: Episode Three

I'm still keeping up with Australian crime drama Underbelly. This synopsis has spoilers.

"I Still Pray" saw the Moran crime family buy a pill press from the Outlaws motorcycle gang, leading to trouble for Jason Moran's former girlfriend Tracey Seymour when her ex-husband Sid, an Outlaw biker, gets drunk after the deal and shoots two people at a garage.

The fallout from the bar beatings continues with Detective Owen convincing a victim, who has returned to Swaziland, to fly back to Melbourne and give evidence against Jason Moran.

Tracy agrees to testify against her ex husband and the Melbourne police do their best to keep her safe, but cannot prevent her from moving to live with her sister.

She is shot dead while sleeping, her son in the bed next to her. The episode ends with a shot of a horrified Detective Jacqui James, who was assigned to protect Tracy Seymour.

Great episode, but I find the narration from Jacqui James a little pointless at times -it's usually obvious what's going on.

Underbelly is on FX, Mondays at 10pm.

Kreppuspilið (The Recession Game) keeps Icelanders smiling

A board game called Kreppuspilið (Recession in English) , has been created mocking the recent financial crisis.

The idea was conceived by Icelander Valur Þór Gunnarsson after losing his job. He suggested the idea to Gogogic chief executive Jonas Antonsson, who told the Financial Times.

It is a fairly standard board game that involves throwing dice and picking up cards that take players on a giddy boom-and-bust journey that will see them buy a private jet and obtain a foreign loan before being brought back to earth with a bump.

The company's blog has more information on the game's rapid development.

A comment left by Jonas Antonsson on the tabletop games blog Purple Pawn gives more details on how the game works.

Players use dice to move clock-wise on the outer rim of the board (pictured). They keep moving in circles until they have picked up 4 items and completed 4 tasks. Basically this involves landing on special squares or gaining said items or tasks through event cards. The items include a private jet, a huge house, etc. The tasks include getting a severence package, protesting outside parliament, etc. The game is won when a player has collected all 4 items and all 4 tasks, made his way to the big square in the middle - which is the press conference, where the player promptly resigns.

The heart of the game is found in the action cards. There are three types. “Recession” cards, “Booming Economy” cards and “Uncertain Times” cards. Each card has a heading, some text (event) and a result.

Currently we’re getting the Icelandic people involved in making up the action cards through the game’s web page - http://www.kreppuspilid.is. This allows us to capture what people are currently thinking and how they see humor or irony in the middle of a downward spiral.

.
Possible plans for the future include a US and online version.

I think it's a great idea, and would love to see a British version. I think the economic events of the past ten years would be ripe for one.

Chris Patten at the Oxford Union

To the Oxford Union last night to hear a wonderful talk by Chris Patten on his new book, 'What Next: Surviving the 21st Century'.

Patten discussed the future of the world for an engaging forty minutes in the Oxford Union's debating chamber, and answered a dozen or so questions at the end.

Among many interesting insights and revelations, he told us he wasn't frightened of the power of Russia due to their weak exports, and that Gordon Brown's speech outside the former headquarters of Lehman Brothers was one of the most supportive speeches for unregulated free markets he had heard "Margaret Thatcher wouldn't have made that speech."

He also made the point that the Russian-American détente had helped to ensure some stability compared to now, and discussed the history of colonialism.

Afterwards Patten happily signed books in the library, and I now have a signed copy which I shall devour over the next few days.

As I mentioned in October, the Oxford Union's debating chamber is a grand room similar to the Houses of Parliament, with busts and paintings of previous Speakers along the walls.

Volunteering opportunities in London during December

If you live in or can travel to London and want to help the less fortunate over Christmas, the Student Volunteers Network has a number of evening organised over the next fortnight.

Simply sign up at the above link to create your own profile,network with like-minded students and view the events on offer.

Wednesday December 3rd sees volunteers needing carol singing with children from Richard House Hospice in Canary Wharf and a conservation project taking place in Little Wormwood Scrubs Park.

Thursday December 4th offers the chance to help out with "The Darker Side of Christmas" at the Old Royal Naval College, a production which will take "both a tragic and funny look" at the festival.

Volunteers are needed at the Barbican Waitrose on Friday December 5th, packing customers bags in return for donations. All proceeds will go to London Air Ambulance.

Shopping centres across London are also offering wrapping sessions to raise money for London Air Ambulance on Saturday 6th December.The same day also sees the Meningitis Research Foundation collection and Christmas Sing-a-long in Southwark.

Later events include the Pat Shaw Residential Home Christmas Carols in Mile End,and the Trailblazers after-school kid’s club party at Bethnal Green Mession Church on December 11th, which is looking for volunteers.

For more information on these and other events, visit the website.

Each event gives details of the nearest tube station, times and who organises it. You can also declare if you are attending, might be attending or am not attending.

NB: The London Air Ambulance site resizes your browser for a second, but it doesn't cause any problems. I think it needs an overhaul.

My favourite "parlour game"

Something to keep you amused on long winter weekends:

I often enjoy playing the game Consequences.

You need at least three people sitting in a circle, some paper and pens.

Each person takes a piece of paper and a pen, writes down a persons name, and passes the paper to the next.

Each person then writes down a place on their new piece of paper, which is passed round again the same way as before. Another person's name is written down.

This is repeated for what the first person said, what the second person said, a place they decided to go to, an event that stopped them, and a place they went to instead.

Some people play the game differently, however, I like my rounds long and creative.

For example:

David Beckham

(went to)

Clacton

(and met)

Woody Allen

(first person said)

Isn't it cold out here?

(second person said)

I've been bouncing all morning.

(they decided to go to)

The Moon

(but)

The traffic was bad

(so they went to)

a pasty shop.

Hopefully yours will be better than my solo effort.

State secrets law passed by Molodovan parliament

A draft law on state secrets has been passed by the Molodovan parliament on its second reading, according to Tradingcharts.com.

The term "state secret" includes information on national defence, the economy, science and technology, external relations, state security, law enforcement and the public authorities.

Both officials and citizens are responsible for violations of the law.

The law also protects information created and held by private persons and entities on these subjects even if they have no dealings with the state.

Material damage caused to the owner of the information due state secret classification will be compensated by the state.

The law assigns four levels of secrecy, subject to review:

a) "top secret", classified for up to 25 years: assigned to information "the unauthorised disclosure of which may produce exceptionally serious damage to the interests and security of the Republic of Moldova.";

b) "secret", classified for up to 15 years: for information whose unauthorised disclosure "may seriously harm the interests and the security of the Republic of Moldova."

c) "confidential", classified for up to 10 years: for information whose unauthorised disclosure "may harm the interests and/or the security of the Republic of Moldova."

d) "restricted", classified for up to 5 years: for information whose unauthorised disclosure "cannot be in favour of the interests and/or the security of the Republic of Moldova,
or which may lead to the disclosure of information classified as "top secret", "secret", or "confidential"."

However, information about collaborators with "bodies which carry out intelligence, counter-intelligence and operative investigation operations" may be classified for up to 75 years.

Classified materials will be reviewed every five years.

The human rights organisation Article 19 are critical of this law. They claim that there is a lack of clarity between the secrecy law and access to information, and there is no public interest defence.

They are also concerned that the security services control the classification of information, and that the definition of state secrets is too wide, as well as including information created and held by private parties.

Earlier laws have caused problems for Moldovian journalism, and this one will restict the amount of information reporters can reveal.

Independent to share offices with Daily Mail

Press Gazette reports that the Independent offices will be moving from Docklands to share premises with the Daily Mail in Kensington.

Independent News and Media said: "The two groups’ editorial, management and commercial operations will remain entirely separate. The Independent and Independent on Sunday will remain under the full ownership of INM."

More here.

Website for deaf communication wins Stelios Award

The BBC reports that the Stelios Award for Disabled Entrepreneurs has been won by Andrew Thomson from Grangemouth in Scotland, whose company Sign-now helps deaf people communicate with the hearing world.

The site was also runner up in the Falkirk Herald Business Award 2008 for most innovative product/company.

With only 25 full time British Sign Language interpreters in Scotland for 7,000 sign language users, Sign-now allows those with hearing impairments to access an interpreter quickly and easily.

Andrew Thomson, who is deaf himself, said: "It's a great honour to have won this fantastic award and to have Sign-now.com recognised in this way.

"The £50,000 will be used to expand Sign-now.com which will mean we can grow our business, to reach our new clients and expand our services to existing customers.

"We will also develop a new product called Sign-now Broadcast, that will enable any conference to display their gathering on the net and for members to pay for it online. My main priority is to increase Sign-now.com’s awareness across public service providers and get them to buy a Sign-now.com Licence."

Sir Stelios Haji-Ioannau, founder of easyGroup, who presented the prize to Andrew, said: "I am passionate about encouraging the enterprising spirit and working with Leonard Cheshire Disability to set up the Stelios Award for Disabled Entrepreneurs.

"I would like to congratulate Andrew, he runs a successful business and displays the drive, creativity and determination to reach the top and really fly. The £50,000 prize will ensure Sign-now.com has a great platform for growth."

Neville Reyner, President of the British Chamber of Commerce, said: "We are delighted to partner with Leonard Cheshire Disability and Sir Stelios Haji-Ioannau on this award. Andrew is not just an exceptional example for all current and budding disabled entrepreneurs; he is an inspiration to anyone in business. Andrew joins the other winners of the Chamber Awards 2008 in representing the best that UK business has to offer."

The Register: How an Italian judge made the internet illegal

An alarming report from the Register on an Italian ruling that blogger Carlo Ruta was found guilty of the crime of "stampa clandestina" (publishing an secret newspaper), which is an offence under Italian law.

This could mean that millions of blogs across Italy could be shut down, and their owners may be imprisoned for two years or fined 250 Euros.

The offence has its origins in 1948, when in apparent contradiction of Article 21 of the Italian Constitution guaranteeing the right to free expression, a law was passed requiring publishers to register officially before setting up a new publication. The intention, in the immediate aftermath of Fascism, may have been to regulate partisan and extremist publications. The effect was to introduce into Italian society a highly centrist and bureaucratic approach to freedom of the Press.

A further twist to this tale took place in 2001, with the realisation that existing laws were inadequate to deal with the internet. Instead of liberalising, the Italian Government sought to bring the internet into the same framework as traditional print media. Law 62, passed in March 2001, introduces the concept of "stampa clandestina" to the internet.

The Register reports that blogger Antonino Monteleone may be facing legal action also.

Credit Crunch Britain: Episode Five

Sadly last night's episode of Credit Crunch Britain was the final one in this series.

The slumpbusters tonight, people who are trying to fight the recession.

Brian and Wendy Wilshaw were forced to offer their house in a competition after the value plummeted.

Once contestants answer a general knowledge question to keep the competition within the law, they can buy a £25 ticket. The Money Programme followed Wendy selling tickets at the village fete.

Interest was slow at first, and Paypal suspended their account for a while to check the competition's legality. Increased media interest helps them reach their target, but the Gambling Commission force them to postpone the draw which they investigate.

Roger Humber of the Housebuilders Association says the decline of building is the worst since the war. This means a slowdown in the housing market and mass unemployment.

Repossessions are at their highest level since 1996, and many builders are heading to Dubai for work. Quantity surveyor Patrick and his wife Nerys are one couple forced to leave for the Middle East.

Estate agents are also struggling. Peter Bolton-King, chief executive officer of the National Association of Estate Agents, says: "It is very tough out there...The ones who are surviving are working very hard to do so."

Former estate agent Martin King is now a disk jockey, and works less hours per week with a much better quality of life, although he also gets paid less.

Titch Fenwick is worried about the cost of his marriage to her boyfriend Chris May. She has found a nice dress on eBay from Hong Kong, and her complete wedding outfit only costs £116.68. Chris' suit cost £80, with a £43.50 registry office fee. The credit crunch wedding, and no less special. Total cost was £545.

In 2007 the average wedding cost £20,000.

Rising gas prices are a huge problem. Alan Asher, former CEO of Energywatch says there will be a choice for many between being "heat or eat" and predicts thousands of deaths across Britain.

Gaye had her loft insulated and a wood burner installed, costing £1800 in total. Her electricity bill is £10.75 per quarter and her gas bill is around £9 per quarter. Wood used to head the house is gathered and stored in her garden.

The price of oil is falling, but running costs and business has gone down for cabbies. However, Carols Oliveira has painted his cab pink, and has seen business rise as a result.

One thing that did annoy me was the use of credit-crunch related music to break up the programme and extensive clips of radio broadcasts on the recession at the start. They weren't used before and I feel the programme would have flowed better without them. Tiny niggle.

The Money Programme is back next Friday at 7:30pm. Rachael Horn will investigate how reliable price comparison sites are.

Raconteur Media on Islamic Finance

Could Islamic Finance be the way to avoid a future credit crunch?

Racounteur Media published a supplement in Wednesday's Times discussing this topic.

The front page is given over to a picture entitled Landscape of the Long Enduring House of Worship by Ahmed Moustafa and an article by Mushtak Parker, where he notes a recent International Monetary Fund report claiming that the Islamic banking system might be able to withstand "global financial shocks" much better, and debates the current status of the Islamic banking sector.

Page two also has a case study of Ian Yearsley, who uses an Islamic bank even though he is a Christian lay preacher. Yearsley regards Western banking immoral and impractical, and sees Islamic banking as a "practical idea".

Next, we come to an article on London and Islamic Banking, with a fact box on the City and a rather large drop quote in the middle.

Page four sees an interview with David Bailey of the Financial Services Authority on Islamic finance.

Page five has an interesting article on the Islamic version of insurance, Takaful, and the Takaful products on offer in Britain, including the mortage provider Alburaq.

Then a recommendation from Antione Sreih, the chief executive of Europe Arab Bank, that the Government should use Islamic finance to get out of the recession, and an article by Mushtak Parker on Shariah-compliant products in the British financial markets.

The role of women in Islamic finance is also examined in a positive piece claiming equality in financial matters, with a note that there are now two female CEO's of Islamic banks, and there are several more feature articles praising Islamic finance at the bank, finishing with an advert for Europe-Arab bank.

I liked the way most articles had boxes explaining terms that the lay reader may not have known, and feel that the supplement gives good detail on the benefits of Islamic finance as well as the way it could be used in London.

Read the supplement here.

We The Savers:New media campaign by ING Direct

Finextra reports that internet bank ING Direct has recently launched a "We the Savers" site to encourage American consumers.

The site presents visitors with a declaration of financial independence.

Signatories promise to obey ten promises, including spending less than they earn, taking care of their money and investing for the long term.

So far, 9824 Americans have signed this pledge. Of these, 1152 live in California and another 958 live in Pennsylvania. You can also read the names of signitories by clicking on a state on the interactive map.

There is also a savers' forum, e-cards, social networking icons and an e-mail list with free monthly saving tips.

ING Direct USA's CEO of Savings, Arkadi Kuhlmann, has also made a video about the site.



Clever marketing. The use of the slogan "Declaration of Financial Independence" is a good play on the Declaration of Independence.

BBC Panorama: Addicted To Aid

Reporter Sorious Samura has visited Uganda and his home Sierra Leone to examine Africa's use of aid.

Sierra Leone:

We see Joseph,a HIV-positive newborn child struggling to survive in Sierra Leone due to a power failure in the hospital that Sorious was born in forty-five years ago.

One in eight mothers will die giving birth, and one in four children will not live to be five. When Sorious was at school, teachers demanded money off children as they were not paid properly: "My generation learnt corruption in the classroom."

A decade-long civil war was a product of the lack of access to education, which was ended by the British army.

Millions of Africans have been helped over fifty years, but little has changed for the poorest.

Uganda:

Aid agencies have given money to a community to start a beekeeping business, but Sorious was told that the money was stolen by office staff.

Another application was made in the community's name, which this time was false. Again, the money was stolen by something else.

Omal Livingstone, a former Northern Uganda Social Action Fund (NUSAF) officer, is facing a charge of embezzlement. He does not think he will be found guilty. Many corruption trials take years.

Mike Mikula, a former Ugandan health minister, was also accused of fraud, but denies any wrongdoing, telling Sorious "I am so happy I can sit in front of you and keep my head held high". He refuses to comment on accusations that he is covering for someone else.

The corruption of African leaders can lead to the cutting off of aid. Florence Naggor describes feeling that her life was "coming to an end" after the supply of antiviral drugs was cut off in 2003.

Almost every Ugandan child has a primary school place, but over 75% of teachers were not in the classroom when they should be. Teacher Gerald Mijasi Omalla feels that the money spent on schools would have been better expended on raising teachers' salaries so they did not look for other occupations.

The health system also problems. We see a clinic where only one of its five buildings are in use, and there is no medication. Andrew Mwenda, the editor of the Ugandan Independent, said that most Ugandans do not have drugs for common diseases such as malaria.

Money is spent on buildings, but not on equipment or beds. £200 million comes from British taxpayers for the health system, yet we visit a hospital without enough gloves or needles. A caption scrolls across the page saying that the Ugandan Health Ministry claims "supply and distribution" is being addressed.

Staff are too overworked to attend to an injured man on the floor. One surgeon carries out twenty Caserians per night. Newborn babies lie on a dirty floor under beds. Sorious says some of the staff are making a real effort in poor conditions.

The Ugandan economy has grown for the past twenty years, but many people are still living below the poverty line.

The Ministry of Health has bought 18,000 4X4's for its staff but only four ambulances.

Local administration:

In Sierra Leone,UNICEF and the World Health Organisation provide free drugs, but many private pharmacies locally are trying to make money by selling them. Dr Soccoh Alex Kabia, the health minister, says that there are dishonest people in every society. Sorious says that most people are not aware the medicine is free.

Ivan Lewis, the Minister of the Department for International Development, says there are very tough accounting procedures and standards.

The solution?:

Dr Mohammed Barrie, a former Freetown resident and member of the Global Action Foundation, says the problem is that it is difficult for aid workers to understand the problems of starving people.

Dr Barrie runs a clinic set up to help amputees, which has seen patients from all over Sierra Leone. He says that the interaction with the community and the use of local expertise have caused the project to succeed. "NGO's and governments should realise they are just custodians of this money. The money belongs to the people." Dr Barrie photocopies a cheque and gives a copy to each patient each time he receives one."

There is further hope. Many economics students at Kampala University want to make a difference as aid workers.

Although our contributions to Africa as aid is essential to the continent, it needs to be better targeted. You can donate to the Global Action Foundation here.

UNICEF statement on Panorama.

The documentary is on the iplayer until 1st December.

1

BBC News: Spam on rise after brief reprieve

Today I've recieved a Service Credit Union phishing scam (delete any messages from notification@servicecu.org), yet ANOTHER message asking me to help move a large some of money from someone I've never met, and a message from one Elvia Netzi Sánchez Santa Cruz advertising a dodgy website.

I haven't noticed any change in the volume of spam I get recently, but BBC News reports that spam numbers are increasing for the first time since the web hosting firm McColo was shut down a fortnight ago.

Remember, any messages from people you don't know asking you to help them move money or from companies asking you to click a weblink to enter your account details should be deleted.

Pollution-aware map for Cambridge, Central andWest London walkers

Brent's community siteBRAIN reports that a new pollution-aware map has been launched by Walkit and the West London Air Quality Cluster Group.

West London walkers are able to enter their from and to routes here in order to find the least polluted route.

There are also routes for Central London and Cambridge residents.

Facebook hypocrisy?

I wonder how many of those who have joined Facebook groups calling for terrible things to happen to the Haringey social workers would have supported plans to raise their taxes in order to improve training for those working on the "Children and Families business unit".

I also wonder what their reaction would be if checks on families were increased and the word of a parent was held to be less reliable. Would they have written letters to the Haringey Independent about "State terror" and "Socialism via the back door."

The view of some people that social workers are child snatchers does not help prevent cases like the one of Baby P. Recent news of an incest case in Sheffield shows that a lack of intervention from the State can destroy lives.

We also need to reform the police service, which is currently drowning in bad decisions, paperwork and the lack of discretion that frontline officers are permitted to use.

Better law enforcement, better social services and better education might have stopped a case such as Baby P's. However, we need the money, patience and political will to do this.

New website created to improve Icelandic-British relations

The website Samstaða has just been launched "in the hope of restoring the ties of friendship between [Iceland] and the United Kingdom". (Samfélag þetta er til í von um að endurreisa vináttutengsl milli ykkar og Bretlands á tímum sem eru erfiðir fyrir okkur öll.)

The site offers a messageboard, a press section and some background, and has social bookmarking buttons.

It was created by Christopher Harrison, and is bilingual. Christopher says: "I learnt of indefence.is during our site's development (and have duly signed their petition and linked from samstada.org.uk). Ours has yet to gain any momentum, but it's only just been fully launched in all its bilingual glory."

The Ascent of Money: Episode Two

This week Professor Niall Ferguson examined the bond market in an episode titled "Human Bondage".

Bonds allow governments to borrow money and have been used to fight wars.

In the recent financial crisis, bonds have been seen as a safe haven.

The origins of the bond market:

During the 14th and 15th century, much of Italy was fighting civil wars.

Each city hired condottieri, contractors who raised armies for them.

Sir John Hawkwood was one of the most talented, and was willing to fight for anyone.Italians call him Giovanni Acuto.

Florence's debt exploded to 5 million florins, and citizens were obliged to lend money to their government. They received interest in return.

Bonds could be sold to other citizens to raise money.

The only problem was there was a limit to the number of bonds issued. In Venice, there were so many bonds that their value was in decline.

Interest was paid at face value, but there was a risk that the city could not pay the citizen back.

The Rothschild family became hugely rich due to the bond market, and they were able to built 41 stately homes.

Third son Nathan Mayer Rothschild speculated on how the Battle of Waterloo would affect the London bond market.

He was given the job of taking the money raised in the bond market and delivering it to the Duke of Wellington.

Nathan's ability to mobilise gold was also essential, and the Rothschilds charged high commissions.

The family banking network, throughout the world, meant that a Rothschild in an area where gold was high was able to sell to Nathan in London.

Showing Professor Niall Ferguson round Waddesdon Manor, the 4th Baron Jacob Rothschild described his ancestor Nathan Rothschild as "extremely clever...I can't imagine he would have been a very pleasant person to have dealings with."

When Napoleon returned to Paris, the Rothschilds bought all the French gold they could afford, thinking the war would last for much longer.

The defeat of the French meant gold prices were dropping and no more investment was needed for armies.

Nathan Rothschild decided to buy stock in British government bonds, hoping the price would rise due to the British victory. He kept on buying as the price rose. In July, he sold and make a profit of what would be $600 billion.

The family chose not to get involved in the American Civil War.

In June 1863, union forces captured Jackson, the capital of Mississippi, and a month later the southern forces surrendered.

However, the decisive factor was earlier, in New Orleans. It was seized by the North, preventing the South from exporting cotton.

The Confederate Treasury had raised money by selling bonds, but had also used cotton as collateral in European financial centres.

Meanwhile the South decided to try to blackmail Britain into fighting by imposing an embargo on all cotton sales to the port of Liverpool. The British economy was devastated, with 500,000 people laid off in Lancashire alone in the man-made "Cotton Famine".

Now that the North had New Orleans, any investor who wanted their cotton had to get past their forces.

By 1863, Britain found new sources of cotton. It was the turn of the South's economy to go bust. Paper dollars were printed, $1.7 billion worth, and deflation rose.

King of the Bond Market:

Bill Gross, the CEO of Pimco, used to be a blackjack player in Las Vegas. Now, he's known as the "king of the bond market."

The value of the bond market affects pension funds and our mortgages.

Inflation undermines the value of being paid a fixed rate of interest. It is the main danger in the bond market. Prices fall rapidly when inflation rises.

Argentina used to be far more wealthy, with a per capita income 1% less than America.

In 1989, though, there was a financial crisis.

The government spent more than it could raise in taxation on the Falklands war and internal conflict.

Inflation reached 10% and banks were told to close. In 1 month, the currency fell 140% against the dollar, and the World Bank froze lending.

The government tried to raise money by selling bonds, while prices rose by 30% in a day in some shops.

Government bond prices plunged as fears grew that central bank reserves were running out.

Argentina ran out of money. More was printed, but it declined in value. Coffee rose by 50% in a week.

By summer 1989, inflation was rising by 100% a month.

The country is now full of antique shops full of gods sold off by the middle classes during the financial crisis.

The bond holder's comeback has occurred because of a growth in bond holders.

Rapidly ageing societies in Europe have meant a demand for fixed income securities. A balance of financial and political power has been struck.

Next week on The Ascent of Money: The stock market.

Safety of children and teenagers on the Internet/La sécurité des enfants et des adolescents sur internet

Here is a rather amusing advert from the State Secretariat for the Family, part of the French Goverment, about keeping children safe online. May not be work safe due to jokey humour.



David Tate reports that the advert will be broadcast on Télévision Numérique Terrestre (digital terrestrial television) at Christmas.

Make your USB more secure

I thought I lost my USB drive this morning. Happily I'd backed up all of it, but it was still nasty. Luckily, it was on my bedroom desk under some socks*.

If you are concerned about losing your USB drive, Daily Cup of Tech has a neat solution here.

When your USB drive is plugged in, an Autoplay window will display an "I'm lost icon", which when clicked will display a message on how to return it.

Check it out.



*My socks seem to be able to reproduce, judging by the number of them.

BBC News: Virtual hospitals - the NHS's future

Interesting article by Professor Nick Bosanquet on the future of the National Health Service, including texting in test results and virtual medicine.

Save the Pub campaign launches on Wednesday at Westminster Arms

Tomorrow morning the Save the Pub campaign will be launched at the Westminster Arms, 9 Storeys Gate, Westminster, London, SW1P 3AT.

The nearest tubes are St James's Park, Westminster and Charing Cross (thanks, beerintheevening.com) and the nearest buses are 11, 24, 148 and 211.

The campaign is being launched by the British Beer and Pub Association (BBPA) and the Campaign for Real Ale (Camra), and those in attendance will include Corrie's Kym Marsh, according to the Morning Advertiser, and Guido Fawkes.

While cheap supermarket drink is the source of violence, lewdness and misery, pubs offering a quiet drink and a nice game of pool are closing across Britain, faster than a Labour U-turn.

There is also concern that alcohol was not exempt from the VAT reduction.

Campaign for Real Ale Chief Executive, Mike Benner, says:"The Chancellor's refusal to allow beer drinkers to benefit from a VAT reduction means that 7,500 pubs could close by the end of 2012. The Government's failure to support pubs will undermine community life, ruin livelihoods and deprive people of an affordable night out at a local pub."

36 pubs are closing every week and more than 44,000 jobs have been lost from the industry between 2000 and 2005.

The Government should reduce VAT on alcohol and tax supermarket drinks. I once saw teenagers coming out of Sainsburys with a trolley full of drink, only to drag it into the bushes near the car park and drink it there - no doubt causing some damage after a few units each.

Australian prime minister on Twitter

Kevin Rudd, the Australian prime minister, is now twittering, according to Justin Kerr-Stevens.

Follow Kevin here.

Over here, David Cameron and Nick Clegg both use Twitter. Neither seem to engage with anyone.

Gordon Brown does not, but the Prime Minister's Office has a twitter account.

Sit-in by Northern Ireland car workers

Redundant workers at the Calcast factory in Londonderry/Derry* have been taking part in a sit-in (a form of direct action involving the occupation of an area for a protest) since Monday.

They have said they are happy to continue the action for 90 days.

More.

No doubt as the recession worsens we will see more industrial disputes.

*Protestants tend to call the city Londonderry, while Catholics tend to call it Derry.

Concern over Nepali media attacks

Concern over attacks on Nepali journalists has been expressed by human rights organisation Article 19.

Last month, the CEO of media house Himalmedia was attacked on his way to work. Just a few weeks later, newly printed bundles of Himalmedia’s Himal Khabar Patrika (Himalaya news magazine) were burned.

On 16 November, twenty-five men circled Himalmedia's depot whilst eight raided the building, cutting off phone lines and stealing mobile phones before threatening to kill the distribution staff. The edition's lead story was an exposé on the growing violence carried out by youth groups associated with political parties.

Himal Khabar Patrika's editor Kanak Mani Dixit says: "There is a planned effort underway to weaken the resolve of journalists amidst a growing political polarisation in Nepal today.

"Besides verbal intimidation, there have been physical attacks. Our own media house has been victim to planned attacks in the last couple of weeks; first an attack on the vehicle carrying our CEO, and lately an act of arson and the torching of our latest issue at our Kathmandu distribution centre."

A number of similar attacks on the media have continued to occur over the last few weeks.

Staff and buildings of the Regional Bureau office of Avenues Television were attacked on 18 November, while similar assaults took place against Nuwakot Jagatan and the government-controlled Rastriya Samachar Samiti the week before.

In October there were also attacks on a Gorkhapatra correspondent, Basudha Editor Rammani Upadhyay , the offices of Tarai Times and a Himalayan Times correspondent.

According to local staff, media workers continue to recieve death threats.

Article 19 has called for the Nepali government to implement the changes in legislation required by the very constitution that they drafted in 2006 and to create an environment whereby the media can carry out its work free from interference or violence.

Geese

I seem to be hearing geese at night, although we are nowhere near the water.

Want to stop sales calls?

If you are tired of tedious telemarketers and nerve-racking nuisance calls, a new product has been launched to give to peace of mind.

trueCall, invented by Steve Smith and John Price and released in October, works by creating a “safe zone” between the caller and the receiver which "learns" to distinguish welcome and callers.

The device plugs into a landline telephone and monitors each incoming call. If it is from an unrecognised or withheld number, trueCall answers the call and asks the caller to say their name.

Only then does trueCall ring the phone and tells the householder who is calling. They can then decide whether to take the call.

Known calls pass straight through, but calls from unwelcome callers are rejected without the householder’s phone ever ringing.

The device is expensive at £99.99, but if you are being tormented it may be a worthwhile investment. Purchase here.

Reviews here.

Reaction to Alistair Darling's Pre-Budget Report 2008

The markets have reacted favourably to the Pre-Budget Report.

If, like me, you were following it on Sky, you were able to watch live coverage of the FTSE reacting. A few dips, but it rose from below 4000 this morning to 4077 as of 4:10. Of course, the Citigroup

Darling's promise to ask the rich to pay a little bit more tax was promising, but sadly it won't come into effect until 2010.

I don't think the tax increase will make many businessmen and women leave Britain, and they will reduce the national debt.

It would be better if the Chancellor put pressure on his equivalent in other European countries and in America to raise taxes for the rich as well. Vince Cable is also right that tax loopholes should be closed, but does not go into detail.

I'm not sure how much difference the VAT cut will make.

There should have been a tax on supermarket alcohol, which is extremely low priced.
The failure to relax VAT on alcohol will hit pubs hard.While I understand that it is important to reduce alcohol-related violence, I feel that it is also essential to keep pubs open and bar staff employed. Like many people, I enjoy a quiet drink at a local pub now and again.

The home insulation drive is great. 10,000 extra jobs. Agencies tackling illegal lending, such as the All-Wales Illegal Money Lending Unit (Uned Benthyca Arian Anghyfreithlon), could do with more staff.

Spending money on motorways will create more jobs but also more pollution. Where will these new motorways go? I feel creating jobs by improving the public transport infrastructure is a better solution.

In London, the Chancellor should offer the Mayor of London government funding for the proposed Croyden Tramlink extension to Crystal Palace and the Thames Gateway bridge.

South London has appalling public transport and it makes people more reluctant to venture north of the river, where much of the big shopping areas are.

Outside of the capital, we need to look at areas of the country poorly served by the rail network and consider bringing forward the Manchester Metrolink extension, including better information and ticketing systems.

Other urban light rail schemes may also need investment. Just a shame we can't currently afford to regulate all bus networks like London's. £2 for a return journey in the capital but £3 in Oxfordshire?

Other ways of creating jobs would be a network of "litter police" that would patrol city centres and areas near motorways (where much of the litter is thrown) with the power to issue on the spot fines to people they see throwing litter, and clearing up dumped items. They could supplement council officers and the (overstretched)police.

No cut in income tax. Wouldn't that have stimulated spending?

Every time I have seen Mr Darling over the past few months, I have thought back to that quote from Blackadder Goes Forth, where Lord Melchett (Stephen Fry) is addressing Captain Darling after Captain Blackadder has turned the tables "Darling, you are an ar*e".

Today, I didn't feel that quote was applicable, despite some people being horrified. The Budget could have been much better, but it could have been worse. The huge amount of borrowing is still a concern. Should there be cuts in Olympic Games spending?

Vote on the Pre-Budget Report at Iain Dale's Diary.

Sussex University study may show how language developed

We may be closer to finding out how language developed.

A study by Dr Gillian Sebestyen-Forrester, a Visiting Research Fellow at the University of Sussex, found that gorilla communication is linked to the left hemisphere of the brain - just as with humans.

The university reports that she is now piloting a study on children between two and four with language impairments.

Gillian carried out the research at Port Lympne Wild Animal Park in Kent.

She focussed her attention on one adult female, 13-year-old Foufou; her infant son; and their social network.

Two cameras were used to capture Foufou's every movement and expression as she interacted with the group.

The study showed a right-handed bias for actions that also involved head and mouth movements.

"Data from this method could help us better understand the non-verbal communication signals that were important for the evolution of language and are still important today for the development of normal language skills" says Dr Gillian Sebestyen-Forrester.

"I hope it will lead to better diagnosis of conditions such as autism and the creation of new health and education intervention programmes to help these children.

"Current diagnostic tests are based on how well a child can understand verbal instruction, but if we look for other signals in communication we may be able to learn much more about what is going on for them."

Dr Gillian Sebestyen-Forrester's findings were published in the journal Animal Behaviour.

Google Map of sea piracy Incidents

A Google Map of all piracy incidents in 2008 has been created by ICC Commercial Crime Services, the anti-crime section of the International Chamber of Commerce.

You can also see maps for 2007 and 2006.

Each pin gives the vessel's name and a link to a full report with vessel type and information.

11.08.2008: 0600 LT: Jakarta car terminal, Indonesia. Robbers boarded a vehicle carrier at berth and stole ship’s equipment (spare parts) of considerable value from the spare parts locker. The incident was unnoticed by ship’s crew. No violence or threat of violence was experienced.

You can also receive quarterly and annual piracy reports via email as a PDF for free, and view weekly piracy reports and alerts on the site itself.

There is also a section for reporting pirate attacks to the IMB Piracy Reporting Centre, Kuala Lumpur, Malaysia .

Currently, all ships near southern Somalia / Kenya are strongly advised to maintain a strict 24 hours visual and radar watch.

Via Digital Inspiration.

High times for low morals

With job losses on a daily basis across Britain, one area of revenue that is immune to the recession is fraud, according to computer security company Symantec.

While it is hardly surprising that such a company would want to highlight the problem of computer-related fraud, the figures make alarming reading.

Much of the estimated £3.35bn earned between June 2007 to June 2008 was obtained through phishing schemes and cash machine hijacking.

It's important to delete emails asking for your bank details, and make sure a cashpoint hasn't been tampered with before using.

The BBC has put together a guide on keeping personal details safe. A box shows warning signs that your information has been compromised.

Laptops containing senstive information should also be secured. Last month, details of nearly 2,000 education workers were stolen from Manchester Town Hall.

Easyjet: the story of Britain's biggest low-cost airline by Lois Jones

Easyjet is the British pioneer of no-frills air travel, with its founded Stelios Haji-Ioannou determined to offer the cheapest flying experience "You pay for the flight and nothing less...that's what people want."

Since its first flight in 1995 from Luton Airport, the airline now operates on over 300 routes.

Jones credits the airline with the rise in Britons buying second homes abroad (which has caused problems for local people wishing to buy houses), and the rise in drunken stag and hen nights in Tallinn and Prague.

Curiously, she does not mention global warming.

Easyjet was effective at making money because it used leased aircraft, did not sell tickets through travel agents (saving 25%) and had a hands-on owner.

Cabin crew were encouraged to be informal with passengers, although there were teething problems with flight delays.

The airline has also battled British Airways' Go brand and Ryanair, eventually buying the former. Easyjet's image has been aided by being the subject of ITV's reality TV show Airline. Both Ryanair and easyJet have used controversial advertising, with some referred to the Advertising Standards Authority.

In 2000, easyJet shares were floated on the Stock Exchange, raising almost £200 million.

The terror attacks on September 11 2001 let to flight cuts and fare rises from major airlines, but cheap flights were still in demand. However, easyJet does not fly to the United States of America.

When French carrier Air Lib failed the government gave a handful of slots to easyjet at Paris Orly,saving the majority for Air France. The airline already had slots at Charles de Gaulle.

In Germany, easyJet tried to take over Deutsche BA (DBA) but found that German employees were not happy with the airline's terms, and the deal did not go through.

There was also trouble with the City. A profit warning in 2004 meant shares dropped by 73p, wiping over £25 million off the airline's value. A further share crash led to announcements that one tenth of the fleet would be axed.

Angry investors called for improvement, and the London to Zurich route was switched to Basel Mullhouse EuroAirport due to high landing charges. Flights from Amsterdam to Nice and Barcelona were also discontinued. The airline expanded its Italian flights and introduced routes to the Irish Republic to outdo Ryanair. Handling and maintenance were also outsourced.

Lois Jones devotes a chapter to air rage and easyJet's shortcomings, including its treatment of disabled passengers and reports of impolite staff. She also examines Icelandair's purchase of an 8.4% stake in 2004.

easyJet is an interesting read, but there is no mention of the pollution caused by cheap flights or the protests that have occurred over them in the last few years. Some examination of Stelios' easyBus service would have been good as well. Not a bad history though.

Scotland bus strike on 24th November suspended

The bus strike planned for parts of Scotland has been suspended to allow for more talks, according to BBC News.

Stagecoach Bluebird services will run normally on 24th November.

Scam .gov email

Just received a scam email claiming to be from "UK Government & Ministry of Finance".

Delete any emails from Helps@directgov.gov and don't click the link (which in mine appears to be hosted by an Australian site selling pools).

I hope Alistair Darling's pre-Budget report tomorrow will be more coherent than this:

UK Government has decided to help you .Ministry of Finance has decided to return some of the taxes payed by you during the time. Has decided that every man aged between 30 and 55 years to receive 450 pounds for family maintenance . The requirement is to be married and to have a job.
For those who have children will be given an additional 200 pounds .All you have to do to take possession of money is to fill our form.

No snow over Christmas

I've seen many reports of snow in the North and Scotland, but none here so far...Will it be a white Christmas?

Credit Crash Britain: Episode Four

Masterchef's Gregg Wallace presented this week instead of Max Flint, giving the show a slightly more blokey and informal demeanour, although I do prefer Max's narration and interviewing technique.

A battle is taking place between supermarkets for customer loyalty during the credit crunch.

Discount supermarkets such as Netto,Lidi and Aldi are taking on big beasts such as Asda, Sainsburys and Tesco, who have dominated sales.

Aldi was filmed by the Money Programme opening is 382nd store, with surprise free gifts.

A spokesman said that the supermarket chain hope to open one store a week across the UK.

Richard Perks, Mintel's Director of Retail Research describes the current conditions as "ideal" for Alid, Netto and Lidi. 55% of British shoppers have visited a budget supermarket.

Prices in Britain are rising. Bread has gone up from 87p to £1.27 on average. Eggs has gone up by 79p, and the average shop has risen by 12.7%.

Gregg Wallace set up some taste tests where people tried budget supermarket food and "mainstream" supermarket food. Most of the time, the discount food won.

One Derbyshire family was challenged to switch from Tesco to Aldi for two weeks, and saved £20. However she "started to miss a few things" after some weeks and decided to go back to Tesco.

Paul Foley, the managing director of Aldi UK, claims that a family shopping trip for £100 in more expensive supermarkets would cost £70 in his stores.

Budget supermarkets stock less choice for each project, meaning it takes up less space on shelves and in storage.

They also use cheap displays and pallets on the shop floors, as well as own brands with similar packaging to market leaders. Martin Bailie, Lidi's Uk Director says "the economies of scale" have helped.

Both Aldi and Lidi are also increasing their "premium products" range. Food journalist Joanna Blythman thinks this is a clever move as it makes the discount supermarket look sophisticated.

Non-food items are also sold, changing every ten days.

The first Aldi (Albrecht Discount) store was opened in Germany by Karl and Theo Albrecht with an efficient small scale model, growing to become one of the country's major supermarkets along with rival Lidi. The first UK Aldi opened in Birmingham in the 1990's.

Morrisons, Sainsburys, Tesco and Asda have all launched campaigns to highlight alleged lowering prices. Tesco's commerical director Richard Brasher denies that they are launching discount ranges because they are concerned about discount supermarkets. There are shelf labels showing the price of some products is the same as Aldi.

Joanna Blythman calls this a "panicky reaction" and makes the point that discount supermarkets have all their stock at low prices. Jez Frampton, Group CEO of Interbran, thinks many shoppers will remain with discount stores when the recession finally ends.

At the Langham Hotel in London, Gregg Wallace asked chef Andrew Turner to cook two identical lunches, one using discount supermarket ingredients (£23) and one using "mainstream" supermarket ingredients (£52.)

Five teachers were asked to take a blind taste challenge and, aside from the turkey texture, enjoyed the budget dish. The more expensive dish was a little bit more in favour. Most went for B, the most expensive dish, but two out of six chose A, the cheap dish. When it came to the pudding, all chose B, the most expensive (£5.01 more).

It was a shame there was no examination of independent shops, but the programme is only 30 minutes.

You can find your local Aldi store here, your local Netto here and your local Lidi here. Why not try local independent shops as well?

Next week on Credit Crash Britain, Max Flint meets people fighting back.

LIFE magazine photo archive now on Google

Previously unseen images from the archives of LIFE magazine have now been added to Google Image Search.

Images include the Zapruder film of the Kennedy assassination; The Mansell Collection from London

You can access the images here or by adding the term source:life to any Google Image Search.

According to Time Warner, owner of Time Inc, which Life magazine is part of, millions of images have been scanned and made available on Google Image Search. All ten million images will be made available in the next few months.

Time Inc.'s executive vice president John Squires says: "We’re delighted Google recognized the rich value of our photo archive and worked with us to bring it to millions of consumers. Consistent with the launch of the TIME Archive, PEOPLE Archive and the SI Vault, this initiative continues our efforts to build valuable new revenue opportunities from our rich heritage."

Spellboundblog has a detailed review of the collection.

Facebook parody of vigilantes

This made me smile, a group parodying some of the more badly thought through groups relating to a tragic event. Or online bandwagons if you will.

You'll need to be signed in before you click on this link.

PERFORM A HIDEOUS ACT OF VIOLENCE AGAINST SOMEONE WHO PERFORMED A SIMILARLY HIDEOUS ACT OF VIOLENCE
Because that ALWAYS works doesn't it?
Positions:
1. Two wrongs always make right? Yes?
2. Two Wrights made the first aeroplane.
3. If God had wanted us to fly he wouldn't have given John Travolta a pilots license.

Quite apt with the number of furious Facebook groups surrounding the death of "Baby P".

Official Monty Python Youtube Channel launches

British humour at its finest.

Via Dave Lee's JBlog.

BoingBoing: Alberta Meteor Sighting

Report of a meteor in Western Canada via BoingBoing:

Youtube:

BoingBoing: Glue Society's surreal installations and films

Fun installations from the Glue Society, via BoingBoing.

Sky Sports presenter Jeff Stelling to host Countdown

Jeff Stelling, a Sky Sports presenter who won Sports Broadcaster of the Year three times in a row, is to be the new host of Countdown.

It was rumoured that Alexander Armstrong was to take over the popular quiz.

Replacing Carol Vorderman will be Rachel Riley, who has a Masters degree in Mathematics.

If I was Harry Hill, I'd lean over a table and say "But which is better...?"

Countdown will return to Channel 4 in January 2009.

Bremner Bird and Fortune: Silly Money Part Four

Final part of the excellent quartet, moved from Saturday to Tuesday for some unknown reason.

This week was an examination of the role of politics in the British financial system, with a contrast of the accountability of American and British businessmen.

Relaxing of controls by government was part of the problem, including the nature of "Big Bang" deregulation in the 80's.

The Financial Services Authority proclaimed that they would maintain a "light regulatory touch" in 1999.

As Rory quipped "An economy without regulation is like Prince Philip without a press officer.As soon as he's left unattended, he'll disgrace himself and embarrass the nation."

The banks have now lost some of the power and much of the trust that they believed they had in the 1990's.

Even Alan Greenspan has admitted that there was "a flaw" in his economic model.

Simon Johnson, the Economic Counsellor and Director of Research at the International Monetary Fund, said in April 2007: "Obviously, there are some particular concerns about whether hedge funds are taking extremely large leveraged bets that could have adverse consequences on banks who might be lending to them...but we don't see anything in this current situation that would merit a heavy-handed, big increase in regulation across the board of any kind."

Many politicians, including Nigel Lawson, John Major, and Tony Blair, have taken well-paid jobs at the top of major financial institutions, which the left call a "revolving door" between big business and the government.

Western banks are now being allowed to take small equity stakes in Chinese banks to introduce them to the market. Read more about China here.

I enjoyed the Dinner Party sketches, with their upper-middle class grotesques, more than usual, with some good points made about the Opposition and David Cameron's perceived lack of policies. Nice to see a spoof of Communist propaganda films and "Chairman Balls."

I'm not sure where the black and white films clips about gloom came from. The laughter sounded different to elsewhere in the show, so I reckon they were first shown to a studio audience - a sitcom?

Bit short on stand-up from Rory, this show. Mainly sketches with Gordon Brown, Clinton and Bush.

Iceland's £1.4bn IMF loan and Alan Sugar on the recession

The International Monetary Fund has approved a £1.4bn loan for Iceland. Council finance chiefs across Britain have also been meeting with creditors in Iceland to secure money invested in the country's failed banks.

Meanwhile, markets around the world have fallen sharply. The FTSE is below 4000.

Sir Alan Sugar has some advice for businesses on how to deal with the recession in this video for the Yorkshire Evening Post. Sadly, the video isn't embeddable, so you'll need to click the link.

Mark Frith: The Celeb Diaries

It's not often you find recently published books in the Central Library, but I managed to borrow a copy of The Celeb Diaries by former Heat editor Mark Frith.

Frith's diaries don't just reveal interesting tit-bits about celebrities and their PR's, but also chronicle the hectic life of an editor.

From its launch in December 1999 with sales of 70,000 copies, Frith managed to boost sales to over 500,000 by the time he left.

Extensive coverage of the first Big Brother series, taking the gamble to highlight the growing trend in dangerously thin female celebrities and not being afraid to run negative covers helped boost Heat's circulation.

He also presented Liquid News, a former entertainment news show on then BBC Choice, now BBC Three and turned down an offer to edit OK!.

Frith does not shy away from discussing the difficult times, including the publication of a sticker about Jordan's disabled son Harvey saying "Harvey wants to eat me" and legal threats from Jude Law. There are also candid depictions of negotiation with PR's and in-house lawyers.

There are also several pages of glossy colour photos, including a mock Heat cover created by the staff to mark Frith's leaving and pictures of Tony Blair's torso shots on the campaign trail, the Pop Idol final and Big Brother fun.

The Celeb Diaries is detailed and packed full of gossip and revelations. Sometimes funny, sometimes sad, often heart warming (particularly when featuring the dedicated Heat staff) it's a good read.

Out now at £14.99 in hardback.

Oxford Times: Log on for legal help

A webcam has been set up to allow residents of an Oxfordshire estate who want legal advice to speak with experts without having to visit their offices.

The system has been launched in the Cuddesdon Corner Family Centre in Cuddeston Way, Blackbird Leys.

More details at the Oxford Times.

BNP membership list leaked

There are no links to any BNP websites in this article, if you were worried about clicking on a dodgy link. Comments section may be different if BNP supporters post.

A list of alleged members of the British National Party has been leaked, with the party blaming "unions and the Labour Party" according to the Register, although chairman Nick Griffin blames a former party member.

The leak of the BNP membership list was first revealed by anti-fascist site Lancaster Unity, and although the Blogspot blog with the details has been taken down, it's elsewhere on the web.

However, bloggers should avoid linking to it, as David T of Harry's Place points out, quoting Section 55 of the Data Protection Act.

BNP chairman Nick Griffin was reported by BBC Radio 2 as claiming the leak was good publicity for the party, but many members are now concerned for their safety, as addresses, emails, occupations and phone numbers were revealed.

The people listed are fairly unsurprising. Members include police officers, teachers and soldiers. One even lives in the same area of Oxfordshire as me.

A heat map created by Ben Charlton of spod.cx does not give anyone's details away and is safe to link to.

Although the BNP is a controversial party, I don't think publishing the membership list was the best idea. It includes details of family members of BNP activists. Plus, how do we know that some of these names are genuine?

Did they sign a petition hosted by the BNP or are they fully paid up members? And isn't the BNP a legal, if odious, political party?

Total membership of the British National Party is alleged to be around 12,500.

On a lighter note, reasons were given why members did not renew their BNP subscriptions, including "Jehova God only real hope for mankind", "objects to being told he shouldn't wear a bomber jacket" and "emigrating to Portugal".

UPDATE: The site BNP Near Me shows you how many BNP members are near your postcode without disclosing personal information.

There have been some revelations about deputy leader Simon Darby as well.

The Ascent of Money: Episode One

Professor Niall Ferguson's lively new series investigates the story of money.

In the first episode,Dreams Of Avarice, Ferguson pointed to banks as the driving force behind empires. "The Ascent of Money has been an indispensable part of the ascent of man".

Five hundred years ago, the Inca Empire had no concept of money, and called gold "the sweat of the sun". In 1532, the Incas met Francisco Pizarro, a Spanish conquistador.

Pizarro and his fellow conquistadors discovered the Cerro Rico (rich hill) in what is now called Bolivia, where silver was plentiful.

Silver ore was ground up, mixed with mercury and shipped to Europe where it was made into coins.

However, Spain's empire was in decline. Silver declined as so much was mined to finance the Wars of Conquest, making it worthless. Money is only worth what others will give in exchange for it.

Clay tablets were used in Mesopotamia thousands of years ago, which Ferguson examines in a museum, remarking on the presence of a phrase promising to pay the bearer, which exists today on bank notes.

Today, money is traded even when it isn't seen, for example through foreign exchange dealers. Trust is essential, as the conquistadors failed to realise.

The root of credit is credo, Latin for I believe. Without this belief in borrowing and lending money, the economic history of the modern world would not exist.

In Pisa in 1200AD, business required complex calculations, while in China things were more advanced.

Leonardo of Pisa introduced the Fibonacci sequence and demonstrated why Arabic numerals were more useful than Roman numerals.

The new numerals made calculation much easier.

Venice became a hub of moneylending, inspiring Shakespeare to write the play The Merchant of Venice.

The transactions introduced by Leonardo of Pisa remain to this day.

Venetian Jews, like the fictional Shylock, who stayed for over a fortnight were made to wear a yellow hat and were confined to a special area.

Christian merchants, unlike Jewish merchants, were forbidden from lending money as it was a sin. Professor Niall Ferguson describes this as a major obstacle to the development of finance in Europe.

The seventh circle of Dante's vision of hell, painted by Domenico di Michelino on the dome of Florence's church of Santa Maria del Fiore, included moneylenders, where they were tortured while being weighted down with bulging purses.

Professor Niall Ferguson visits a modern day money lender, or loan shark, in Shettleston, Glasgow, where most people don't survive long enough to collect their pension.

One Glasgow loan shark's book reveals that he makes a £2.50 profit on every ten pounds he lends, a 25% profit.

Defaulting on your loan may leave you suffering grievous bodily harm, as even a single defaulter could be very costly. Others may be encouraged by the example and also fail to pay the lender back.

How did banks appear?

The Medici family were one of many Florence moneylenders who moved out to the suburbs and became respectable in society. Two became queens of France and one became Pope.

Prior to the 1390's, they were small-time thugs with many put to death.

Giovani di Bicci created the Medici Bank, which allowed the family to make money on foreign currency transactions. With commission, not interest, charged there was no sin.

During the 15th century, their bank was the most respected in Europe.

Earlier Italian banks had been vulnerable to defaulting, but the Medici Bank was made up of multiple interlocking partnerships independent of the rest. The network extended throughout Renaissance Italy as a result of this spreading of the risk.

Over generous loans to the rich caused the bank to suffer, however.

Modern banking:

Professor Niall Ferguson visits Memphis, Tennessee and has a look at the number of money making options, including the ability to sell your own blood.

In Memphis, cars are regularly repossessed, and United Auto Recovery sells 500 repossessed cars a week.

Bankrupts gather with lawyers to make a deal with their creditors. Between 1996 and 2006, there were over 1 million bankruptcy cases a year.

Some, including Buster Keaton, have gone on to later success.

Next week: a look at the bond market.

Watch The Ascent of Money on 4onDemand or on Channel Four on Mondays at 8:00pm.

The G20 summit's tipple

While watching last night's Daily Show, I discovered that the wine drunk by delegates at the G20 summit cost £500 a bottle.

Nice to know our leaders are identifying with the millions of ordinary people struggling to pay the mortgage or facing poverty.

MySinchew's Tay Tian Yan says:

They were served with flourishing food, causing resentment of new leftists who accused them for wasting resources of the earth. It is worth it if luxurious food can inspire the leaders' creativities and abilities.

The best food to eat to keep the brain healthy include fish, almonds, spinach and Brussels sprouts. I doubt that a dinner made from these ingredients would cost much to produce.

SmallGovTimes reports that the menu included eggplant fondue, and rack of lamb (although unlike some news sources, they estimate the wine's cost at $300 a bottle).

No nuts then, apart from those present.

Blond Across the Pond: Host A Dinner Party on the Cheap

Some good tips from KVAL journalist Denae D'Arcy on hosting a dinner party during the recession.

Fooducate also has some tips on shopping during a recession, and many apply to boom tips also.

Underbelly: The Sorcerer's Apprentice Episode Two

Contains some spoilers. Do not read if you have only seen the first episode.

Last night's Underbelly focused on the fallout after the arrest of Alphonse Gangitano and Jason Moran, with Melbourne police detectives trying to put the dodgy pair in prison.

Jason's driver Carl Williams reveals that he drove Jason to the nightclub, for which he is slapped by Jason. However, witness intimidation means that the case is looking leaner than a veal calf.

Meanwhile, Carl is trying to build up his own criminal empire and steals Jason's wife's dog for a major amphetamine dealer to blackmail Jason with, in order to convince the dealer to teach him to make amphetamines.

Alphonse' affair with Jason's girlfriend is revealed by a gang member, leading to his murder by Jason, witnessed by a courting couple. The funeral takes place, with Alphonse's coffin born by the remaining members of his crime family, who wanted him dead to avoid police interest.

Great television, with menacing crooks and determined police as well as glamerous Australian location shots.

It would be nice if we saw more of the organised crime committed by the gangsters (as opposed to the disorganised crimes of rage).

BBC News: The myth of record debt

A nice article by Michael Blastland on the truth behind government debt.

Context takes only a moment. A good and simple start would be to present figures as a percentage of GDP, whether for spending, taxation or borrowing. Of course, there's the small matter of what the government actually does with the money. But when it comes to how much money we're talking about, handle records with care.

Bremner Bird and Fortune: Silly Money Part Three

After a short film on social benefits from the golden years of the late 1940's, it was down to business.

This week our intrepid satirists were examining the pensions crisis.

In the old days, people were encouraged to save for their pension and 12 million workers were covered.

During the 1980's, however, many company pension schemes were facing a defect.

Robert Maxwell was one of many CEO's who raided company pension schemes in both Britain and America.

The UK's Pension Bill made it possible for companies such as Federal Mogal to offload their pension defect onto British taxpayers, according to Bremner. The top bond holder had been about to contribute money to their pension deficit when the bill was passed.

In America, the government put pension money into hedge schemes to plug pension gaps.

In 1997, the Paymaster General Geoffrey Robinson abolished tax relief on the dividends recieved by company pension schemes.

Private equity companies such as Lucinda and Cerberus took over company pension debt, and pension funds were traded.

Since Nigel Lawson, Chancellors of the Exchequer have encouraged companies to cut surplus pension funds. Either the money was put back into the company, or it would be taken as tax.

The paradox of thrift is the theory that money held in savings should be made to do more work.

People took "payments holidays" while pension experts failed to spot that life expectancy was rising.

They wrongly estimated people would survive 15 years after retirement, instead of 19.

Private pension figures were also counted twice by Department of Work and Pensions officials in 2001.

There is now an £80 billion pound deficit in private pension schemes. The Government decided to extend the retirement age to 68 by 2050.

Earning have risen by less than one-third since 2000, while individual debt has doubled to £1.4 trillion.

National debt is £645 billion, and some estimate the figure as £1.5 trillion.

The Private Finance Initiative, invented by ex Chancellor Norman Lamont and described by Public Accounts Committee chairman Edward Leigh as the "unacceptable face of capitalism", has been used to build schools and hospitals since 1997 (see Private Eye for extensive analysis of this scheme).

In 2001, the government sold of the Inland Revenue, among other government buildings, to an offshore property company.

Many of the bills from private firms involved in PFI contracts have yet to be paid, and the taxpayer will have to pay for failed PFI schemes.

Last month, Lloyds TSB bought Porterbrook, the company that bought Britain's trains and sold them at a profit.

In America, the debt clock has run out of space to display the national debt, while 40% of pension funds rely on the government.

Pension companies have found other ways to save money. Legal and General told the BBC that healthy people will get less per year than the unhealthy, with some companies already offering more to smokers.

Next week: the role of politics in the financial system.

Another strong programme. The sketch"Shoppers Remembrance Day" was a graphic illustration of how much spending many British people did during the boom times, while the two Johns were as strong as ever, although with less George Parr.

A series of sketches with Alistair Darling on Dragon's Den was used to attack PFI. Maxwell jokes are back in vogue also.

Didcot Power Station photos

Some photographs of Didcot Power Station, taken from platform one of Didcot Parkway Station and inside a First Great Western train (which is why the latter one has some reflection).

Flash Animation Level Two course: Day Two

Today was the final day of my Level Two Flash Animation course at Oxford Film and Video Makers.

Our sextet learnt how to mask layers, create nested movie clips and invisible buttons, and import video, including the advantages of embedding versus progressive download.

Alun, our tutor, also discussed how to publish Flash movies for web pages, and suggested sites including Flashkit and Lynda.com for help and sample code. He also recommended SWFObject for embedding FGlash movies on websites.

We each created a Flash movie showcasing some of our skills which will be uploaded to the OFVM website as a .zip file.

I would strongly recommend a course at Oxford Film and Video Makers.

I have revisited some basic Flash skills including motion tweening and have also learnt some advanced Flash skills that will help during my career.

London Underground electricians to strike on November 16th-18th and December 7th-9th

There could be disruption to London Underground services early next week, as 25 tube maintenance workers have voted to strike from 19:59 on November 16th to 07:59 on December 18th, and 19:59 on December 7th to 07:59 on December 9th.

The workers,employed by EDF Energy Powerlink, are responsible for finding and fixing faults on the Underground's power sub-stations and maintaining electricity supply, according to BBC News Online.

Rail Maritime and Transport Union general secretary Bob Crow said:"Shift testers at EDF Energy Powerlink are seeking nothing more than parity with their day-work colleagues, who some time ago received a £3,000 rise in exchange for flexibility in signing on and off

"We have tried hard to reach agreement in talks at ACAS, and our shift members are happy to give the same flexibility in booking on and off and it is time for the company to acknowledge that the case for parity can no longer be ignored.

"I hope EDF Energy Powerlink is prepared to avoid a strike with the potential to shut down large sections of the Tube network, but it needs to signal that it is prepared to treat its workforce equally and fairly."

Transport for London say that they expect services to run normally during the 36- hour strikes, but the RMT say large sections of the Underground network could close.

I advise checking online and in stations before you travel.

Flash Animation Level Two course: Day One

I have started my two day Level Two Flash Animation course at Oxford Film and Video Makers in Catherine Street, East Oxford.

Taught by UK artist and animator Alun Ward, in partnership with Abingdon and Witney College, the course will allow me to revisit the basics and learn some advanced Flash techniques.

Today I had a refresher on the Flash interface, keyframes and layers, and revisited motion tweens and shape tweens.

I also learnt how to add graphics from Photoshop and Fireworks to Flash, and how to add .WAV files as a soundtrack.

We also learnt some coding using Actionscript 2, including how to create and code a button to play an animation and how to make the animation stop.

Alun also discussed the compatibility issues of different versions of Flash and showed us various useful sites, including Newgrounds.com, which showcases Flash animations (some of Newgrounds' animations may be NWS).

Tomorrow I will look at importing video, advanced animation effects, linking Flash movies and publishing options.

I'll also continue with HTML and Actionscript.

Pantu the Dog,Barbara Follett and Youtube

Culture minister Barbara Follett is backing the pre-screening of user-generated content.

I'm not sure someone who believes that paedophiles can watch children through the Internet is the best person to make judgements about online matters.

Chris Morris' wonderful Brass Eye showed Barbara Follet reading from cue cards that "an online paedophile" had converted the eye of Pantu the Dog, "a child's game on the internet" to "work as a webcam to look at the child player."

Senator Ted Stevens in Alaska is another apt example of the dangers of ill-informed people debating the Internet.

Credit Crash Britain: Episode Three

The troubled property market was the focus of this week's Credit Crash Britain.

With the possibility of 2 million people in negative equity by 2010, the Money Programme's Max Flint examined the alternative of renting.

New mortage approvals have dropped by 90%, and house sales are at a 30 year low.

Dan Thomas, the Financial Times' property correspondent, says that many forgot "what goes up must come down...prices will drop, drop for at least another four years."

Max spoke to Ros and Nadine Buttefield, whose payments went up by £400 a month when their cheap fixed-rate mortgage ended, forcing them to rent out their home. They are currently staying with Ros's mother.

Ros said: "It's a point of riding the storm...I feel my fingers have been burnt for something I haven't done."

The rent money does not cover the mortgage, with a £150/month shortfall.

Merryn Somerset-Webb, the editor of MoneyWeek Magazine, says that the best option would be for Ros and Nadine to get rid of their house and simply rent.

The number of those renting or looking for tenants is increasing.Flat Night Fever, a once a week event run by Tamamra Smith of Easyroommate.com, is an event to introduce landlords to new tenants.

Ray Wright, an economics lecturer who helps finance housing developments, feels rental makes more sense.

He rents a penthouse flat for £3000 a month, and calls house buying "an enforced savings plan."

Private landlords provides 75% of rental homes, now that many council houses have been sold to those renting them.

Mike Goddard, who runs the letting agency Belvoir Lettings, feels that there is a stigma with renting, and told Max Flint how his bank manager was concerned he didn't own his own home.

However, he has decided to buy a house due to being frustrated with his letting conditions.

A comparison of renting in Britain and France shows how much more rights French tenants have.

Tenants have the security of long leases and it is always hard to get a mortgage, with blood tests involved to check your health.

Heidi Barnes, of Barnes International Property, told Max Flint: "the law actually favours the tenants in France, over the last six years, they have been encouraging people to rent."

There is also a debt stigma.


The French have therefore avoided a British property crash.

A MoneyWeek investigation found that you would be £57,126 worse off if you bought a house between 1980 and 2000 than if you rented over the same period. As Max said, they were "shattering a lot of illusions."

Shorter time periods tell a different story. When house prices were rising between 1995 and 2002, home owners would have been £74,000 better off than those renting.

Like the share market, the property market goes up and down.

Some newly built houses are now being rented out (built-to-lets), which means that it takes time for a profit to emerge. Andrew Teacher of the British Property Federation says "We need more homes. These homes are not going to be built by a conventional homebuilders as they don't have a market...We need a professional rental sector."

A rather alarming programme, but I'm not sure I'd like British tenants to be immune from eviction during the winter even if they don't pay the rent, like the Money Programme claims French tenants are.

I hope the government takes a look at the rights of tenants abroad compared with British tenants.

Maybe when the recession ends it will become less of a stigma to rent.

Let us hope so.

Next week, Greg Wallace investigates the rise of discount supermarkets and food shopping during the credit crunch.

Credit Crash Britain: Episode Three is on the iplayer until Thursday 20th.

York Facebook group

Last month I blogged about the Oxford Facebook group set up after Facebook refused to give Oxford residents (as opposed to Oxford University students) their own network.

Now one of my Facebook friends has joined the York Facebook group, which has over 3,000 members.

Unlike the Oxford group, however, the York group is a closed network, so I can't see all the fun its members have.

Members must be invited or approved.

You can also join Bid to recognise York on Facebook.

Pants to Poverty at St Pancreas

Sadly I'm not in London today, so I missed an attempt this morning to set the record for the largest gathering of people wearing underpants/knickers at St Pancreas Station.

The attempt was organised by Pants To Poverty, a movement that sources and sells designer fair trade, organic and sweatshop free pants, and was part of Guinness World Records Day.

Throughout this green and pleasant land today,(give or take a few thousand grim tower blocks and waves of suburbs) Britons have been trying to set new world records, including the longest line of pizzas and the largest tea bag.

The global celebrations have also seen the largest dog wedding in America and the largest flaming image using candles in Ireland, according to the Daily Telegraph.

Here is a nice video from Craig Glenday, Editor in Chief of the Guinness World Records book, on the day


The record for the largest gathering of people wearing underpants/knickers was also attempted at the Isle of Wight's Bestival music festival in September.

The most annoying online advert

As a Hotmail user, I'm plagued by the sound of the Royal Marines Commando advert every time I accidentally move my mouse pointer near it while I compose a new email, open an unread one or look up an address. The advert seems to be on Hotmail every day.

I use email a lot. I get over 40 a day on average in my primary account, including scam mails, Viagra promotions from dodgy companies and offers of email directories, as well as useful emails.

Vanquis Bank, part of Provident Financial, also send me a number of emails. When I asked them to stop spamming me, they replied that "they could not discuss account-related queries by email" , even though I don't have a Vanquis Visa card and I wouldn't want a card with 39.9% annual percentage rate(APR).

Anyway,I understand adverts are competing to attract people's attention, but it does mean people have to be careful using public computers in case the sound of birds chirping booms out suddenly and everyone looks round tutting.

Most people will probably just find the advert irritating and not bother clicking. A Facebook campaign would have been better.

I have no ideological objection to the Royal Marines, as I understand the need for a standing army, but I do wish they would be advertised in a less tedious way.

The eBay Phenomenon by Ellen Lewis

How and why did eBay become such a popular brand?

Ellen Lewis' book describes the attraction of the site, including the sheer number of items sold (a toy car, for example, sells every 26 seconds) and the unique relationship eBay has built with its users, including the eBay Live! events, which attracted 15,000 people in 2006.

When programmer Pierre Omidyar created the site AuctionWeb after being inspired by selling a broken laser pointer online, he did not expect it to become one of the most visited sites on the web: indeed, it was liked on his homepage next to a website about the Ebola virus. However, by 1995 AuctionWeb was hosting 10,000 individual bids.

The community focus of the site allowed Omidyar to ask for help from others and attracted even more users. By 1997, he changed the site's name to eBay, with a new logo designed by CKS Interactive's Bill Cleary. When he was happy the community had developed, Omidyar began to publicise the site.

Soon after CEO Meg Whitman joined eBay, the company was floated on the stock exchange, and 3.5 million shares were sold, rasing $58 million. eBay was valued at $700 million.

Despite a 22 hour site crash on June 10th 1999, which led to a big drop in eBay stock, the company has managed to keep an excellent relationship with its users, one that many other auction sites envy.

This is due in part to feedback, meaning that dishonest people are exposed to the eBay community. Users with a -4 rating or more are banned, while every user wants a red shooting star, the highest value rating with over 100,000 points. This system also causes users to stay loyal.

Ellen Lewis also focuses on individual eBay users, including Andrew Dudley, who runs the business Postalsupplies and is one of 170,000 people in Europe who makes a full-time living from eBay and Steve Woodward, who sends out 5,000 items per week and wo an eBay umbrella during an eBay University session, due to his 39,000 feedback rating.

Lewis even created an auction to allow users to bid for the right to have a chapter of her book devoted to them, won by Christian Braum with a bid of £101. Braum, the founder and CEO of Auctioning4u, was working in North Acton when Lewis met him, and grew up near Düsseldorf in North Rhine-Westphalia, Germany.

He started using eBay in 2002 after working around the globe. Auctioning4u went into administration in early 2008.

The eBay Phenomenon also deals with the problems eBay has had competing with Yahoo Japan and its expansion in China, Germany and Britain.

One nice touch with the book is the number of unusual auctions dotted throughout the book, including "For sale: Young Woman's Virginity" (sold by Rosie Reid) and "For sale: Virgin Mary Grilled Cheese Sandwich."

The eBay Phenomenon is a fun and accessible read about one of the most visited Internet sites.

Sensible decision: Post Office to retain card account contract

Shock horror, the Government have done the right thing.

Three thousand Post Offices across Great Britain have been saved from potential closure, after Work and Pensions Secretary James Purnell announced the bidding process for Post Office Card Accounts (POCA) used to distribute benefits to over 4 million, would be closed.

Thankfully, the Post Office will retain responsibility for this scheme.

The link to Postwatch on the BBC site is wrong. Postwatch is part of Consumer Focus and information is here.

CWU general secretary Billy Hayes welcomed the news, saying: "We're pleased that following months of extensive campaigning and lobbying, the Government has listened and made the right decision.

"We hope that today’s decision, following reports earlier this week that Business Secretary Peter Mandelson believes that the Post Office can ‘rebuild itself into a widely accessible, trusted provider of a broader range of financial services’, represents a further indication that the government is now willing to adopt a more positive approach towards the future of this vital public service."

Wanted: Interesting Politicans

Barack Obama and Boris Johnson are similar in one respect.

Both have managed to grab the interest of a section of the public not normally interested in politics.

The Obama Campaign's extensive use of new media helped him win the recent American election, while Johnson's many appearances on Have I Got News For You helped create the persona of a loveable, bumbling toff who would provide giggles if he ever got elected (personally, I prefer to judge my mayors on their track record and their policies).

The Tory Troll blogger has been following Johnson's reign closely, and I'm sure there will be bloggers following Obama's four years in the White House.

What astonishes me is how the three main political parties haven't grasped this. The Labour Party, aside from Hilary Benn, has no-one interesting or charming on the front bench. Hazel Blears seems to have grasped this in her Hansard Society Speech.

The same goes for the Conservatives (with the possible exception of William Hague, a gifted debator with a sense of humour) and the Liberal Democrats (Charles Kennedy, the best leader they ever had, was an exception, as is Lemit Opik.

There must be backbenchers that are both charismatic and talented. At the very least, there must be parliamentary candidates that fulfil this remit.

If the Labour Party do not realise the importance of charisma, they will be sunk. Although one should vote according to policies, I would estimate up to 30% of the total population judge politicians by their character.

That's total population, not actual voters. Many of these people only vote when they see a candidate they feel is "fun" or "the one to change my country." Obama energised a lot of voters who hadn't voted in the 2000 and 2004 elections, particularly in Republican states.

I have no doubt that the turnout for the London mayoral election of 2008 would have been far lower than the 2,456,990 who voted (still less than 50%) if Frank Dobson and Jeffrey Archer had been the Labour and Tory candidates.

Outside the three main parties, the Green Party have plenty of interesting and down-to-earth people, including Darren Johnson and Jean Lambert, both of whom I've interviewed.

Like the British National Party,Veritas and UKIP seem to be a charisma-free zone (and if you are a Kilroy fan, he's on I'm a Celebrity...Get Me Out of Here!), while Alex Salmond of the SNP seems a nice fun guy.

Raconteur Media: Top ATM Attacks

Yesterday Ranconteur Media published a special supplement for The Times on fraud prevention.

Included was a nice diagram on the most common cash machine attacks.

The top five are:

Lebanese Loop: a strip inserted into the cash machine that retains the user's card, making them think the machine has "eaten the card."

The fraudster will either watch the victim try to re-enter their PIN or approach them, pretend to offer help and suggest they do so. Once the victim walk away, the fraudster retrieves the loop and card, and uses the PIN to withdraw funds.

You can avoid this by checking the cashpoint for any unusual signs, and by running your finger along the card slot to check for any tiny prongs.

It's always important to shield the keypad when entering your PIN. Never give it out to anyone, even over the telephone.

Point of Sale Compromise: A small camera fixed to the wall that films you entering your PIN. Check the surrounding area for odd devices. The fraudster will then try try to steal your card and withdraw money.

Mass Compromise: A data breach or hacked ATM.

Hardware Overlay: A fake keypad that retains your PIN is placed over the real one.

Phony ATM: A fake cash machine is placed on a wall.

You can help avoid fraud by not letting anyone see you enter your PIN, not entering your PIN when anyone is around and not telling others your PIN. Check the cashpoint and surrounding area for devices.

The diagram accompanied an article on fraud and the financial crisis by Amir Orad, Chief Marketing Officer at Actimize.

You can read the supplement online here.

Panorama: Can't Pay, Won't Pay

Monday's Panorama, presented by consumer champion Paul Kenyon, took a look at the debt industry and its battles with borrowers.

A debt avoidance industry has grown up in the past decades, with websites such as RPM Finance looking for loopholes in credit card agreements.

Most adults owe more than £5000 in credit cards, loans or overdrafts.

Basil and Amanda Rankine, who run the site Credit Card Killer (complete with news reading robot) had debts over £100,000.

They had 13 credit cards, 4 loans, and an overdraft.

They got hold of a copy of the Consumer Credit Act and began confronting lenders such as HSBC with the mistakes made in their contract.

HSBC claim that they wrote off a £10,000 debt as they'd lost the original documents.

Sir Roy Goode QC, who wrote the Act, says "it is easy for a creditor to make a little slip...which entitles the consumer to refuse to pay."

Andrew Leakey, a consumer litigation specialist, told Paul Kenyon that one in ten agreements had potential problems, including how the loan was sold and the charges included.

The Rankines failed to get their remaining debts written off at the High Court, but got away with keeping £100,000.

They now own legal costs totalling hundreds of thousands.

Eric Leenders, of the British Banking Association, was critical of debt avoidance. He explained that any debt that people avoided had to repaid by others.

£3.2 billion of consumer debts has been written off by banks and building societies, with the debt sold on to debt purchasing companies such as 1st Credit. A company video showed how the company made a profit, with 1200 new debtors per month.

1st Credit claim debtors with health issues have their debts put on hold.

Paul Kenyon interviewed Leanne Blurton, who had to deal with her father's debts after he was sectioned.

1st Credit was the only creditor that did not suspend payments, taking £55 per month.

Leanne e-mailed a copy of the section document to the company, but they then demanded doctors' documents, and then threatened to sell her house and car.

1st Credit said they would frozen Leanne's father account and retrain the staff Leanne Blurton dealt with.

Debt charities estimate moves to force home sales over debts are increasing.

Lenders are using "charging orders", which attach your debt to your home. If you sell or re-mortgage it, you must pay your creditor off. Sometimes, they can force the sale.

Mike Henderson, £35,000 in debt, was taken to court by NatWest after he missed payments when his business failed.

They obtained a charging order and evaluated the house using a drive-by evaluation.

Mike agreed to put it on the market, but he has six other properties worth £800,000.

In 2000, the number of charging orders granted was 9500. In 2007, it was 970,000.

"It's not untypical of people in difficulty to have different agreements with different providers." Eric Leenders explained.

Greenhalghs solicitors pursue customer and consumer debt, with staff represented on the website by predators.

Under " I am a debtor and you have contacted me about a debt that I owe one of your clients. What should I do?", the company say "Pay your debt.If not we will hound you until you do."

Richard Kerr, who works at Greenhalghs and specialises in Commercial Litigation, calls this a "robust approach", but the Office of Fair Trading say this wording is in breach of their regulations, according to Paul Kenyon.

Greenhalghs estimate 90% of the debtors they pursue end up in legal action. One East London court is often block-booked by the company.

Creation Finance helped Malina Bergeman buy a £1700 three piece suite, but her business failed, and, like 600,000 other Britons, she had to take out a debt repayment plans.

The company took out a charging order and then an order for sale of her home. Richard Kerr, who tried to collect Malina Bergeman's debt, did not comment on this case, but said Creation Finance "As responsible lenders, we work hard to help customers...only as a last resort would we look to obtain a charging order."

The company settled for £4700, less than the costs including fees and interest.

In conclusion, the debt industry is getting bigger.The creation of more "can't pays" will hurt all of us.

A good programme, but the tug-of-war scenes were a little bit twee.

I did notice the music used was from the Apprentice.

Underbelly: The Black Prince Episode One

Did anybody else watch the first episode of the Australian show Underbelly on FX on Monday night?

Although it wasn't as good as The Wire or Life on Mars (what is?), I enjoyed it and have now Series Linked the episodes on Sky Plus.

Last night's episode revolved around odious Melbourne crime lord Alphonse Gangitano, who causes problems for his crime family after he kills a fellow guest at a party over a debt.

His sisters agree to testify against him, but change their mind and flee to Europe after Gangitano convinces them that to refuse to drop the charges would mean death.

With the charges dropped, Alphonse Gangitano is free to wander the streets of Melbourne collecting protection money and intimidating Senior Sergeant Steve Owen, one of two police officers who confronted the gangster over loud music at a party, but left before the murder.

However, he is taken back into custody after assaulting the patrons of a club. His companion Jason Moran, a member of the Moran crime family, flees the scene without waiting for Gangitano.

All the events in Underbelly are based on the book Leadbelly: Inside Australia's Underworld, by John Silvester and Andrew Rule, journalists on The Age, a Melbourne newspaper.

Catch Underbelly every Monday night at 10:00pm on FX.

FX does have some good shows, including episodes of Family Guy and Dexter.

Bank of England confirms recession

The BBC reports that the Bank of England says the UK entered recession in mid-2008, and will remain in recession until 2009.

Gordon Brown, David Cameron and Nick Clegg are now promoting tax cuts.

Let's hope these tax cuts benefit the poorest in our society and not the richest.

My graduation from Westminster University

Radio silence yesterday as I attended my graduation ceremony at the Barbican, Central London.

I now officially have a MA in Journalism (vocational, PTC-accredited).

The ceremony took place in the afternoon, but we arrived early to sort out my gown and photographs.

Graduation began at 2:30pm with the entrance of the Procession, comprising the Chancellor, the Vice-Chancellor (Professor Geoffrey Petts), the court of Governors and faculty members.

After an opening speech by Dr Terence Wright, chairman of the Court of Governors, the Dean of the School of Media, Arts and Design, Sally Feldman gave a speech praising the graduates of the school, and praised their family, friends and partners who had supported them. She also reminded us we needed a passion to "convey stories, images and tunes that will change someone, somewhere."

After the presentation, when all the graduates had their name and degree read out and shook hands with the Chancellor, Tim Bevan, a producer who co-founded Working Title Productions, was presented with an honorary degree.

In his speech, Bevan congratulated the screenwriting course at Westminster University and said "new blood" was essential in the creative industries, which he described as the "basis of our future".

Professor Geoffrey Petts then gave a short address, describing the day as "a day of celebration", and emphasised the challenges ahead for many graduates including the water crisis and climate change, before the closing ceremony.

After this, MA Journalism graduates had a small party in the Conservatory with Media Arts and Design faculty members.

Myself outside the Barbican in my robes.

War memorial desecrated in Bradford

The Manchester Evening News reports that a memorial service at at Philips Cemetery in Bradford has gone ahead, despite five bronze plaques honouring local war dead being stolen a week ago.

The paper reckons they were sold for scrap.

The War Graves Commission says it may replace the plaques with slate slabs to avoid future thefts.

Here are the names of the fallen commemorated on the stolen plaques as well with a picture of the desecrated memorial.

It is to be hoped that the scrap metal dealer who receives the plaques reports the handler to the police.

Inspector Chris Hadfield from Greater Manchester Police said: "Stealing plaques that are to there commemorate people who have paid the ultimate price for their country is a shameful thing to do at any time, but at this time of year it is just downright cruel.

"We want to appeal today to anyone who might have seen people acting suspiciously in and around the cemetery at the weekend to contact us.

"But we are also appealing to any scrap dealers who might have been approached to sell on these plaques, or even melt them down, to get in touch...

"If we can't return the plaques then we are determined to catch the thieves who stole them. I urge you to get in touch with us if you know anything about this."

Anyone with any information about the theft should contact Greater Manchester Police on 0161 856 3521 or the independent charity Crimestoppers, anonymously, on 0800 555 111.

Where my grandparents live, in Ilford, there has been a spate of street sign theft as they can be sold as scrap metal.

Not being able to find your way around local streets is mostly irritating (unless you are a paramedic or running from muggers), but this theft is, as Inspector Chris Hadfield says, cruel.

Creativity

I am thinking about writing a sitcom set in further education, and must start pooling ideas.

Crime, Cash, Credit and Chaos: A biography of John Law by Colin McCall

One of our lessen known economists, John Law was behind the creation of the French Central Bank, the Banque Royale, and the development of paper money as an alternative to coinage.

Born in Edinburgh in 1671, he moved to London to better exercise his love of women and gambling, leading to his arrest after killing a love rival in a duel.

He escaped from King's Bench Prison in 1695, and fled the country. Roaming Europe, he spent his time gambling and studying financial systems.

Law arrived in Scotland in 1704 and published the essay Money and Trade Consider'd with a Proposal for Supplying the Nation with Money.

His earlier essay, Essay on a Land Bank, argued that land money is more secure than silver money, as land is safer as collateral and varies little in value compared to silver.

Law brought a proposal before the Edinburgh Parliament to develop the use of paper money, but they rejected it. The proposed union between Scotland and England forced Law to flee to France.

France had rising unemployment, poorly paid troops, a colossal public debt and revenue that failed to balance expenditure (rather like Britain today!).

Loans had to be cancelled or interest reduced.

Currency mechanisms were manipulated to allow the state to obtain credit, and there were concerns that France might borrow more money to finance the crown and the military.

John Law met Philippe, Duc d'Orléans in a gambling den, and entrusted him with the State debt.

Law set up a state-chartered bank (Banque Royale) which issued unbacked paper currency.

He set up the Mississippi Company in 1717 and purchased of the French East India Company to create La Compagnie des Indes.

By the 1720;s, Law had become popular in France and became a Catholic.

When La Compagnie des Indes amalgamated with the Banque Royale, the "Mississippi Bubble" burst and many people lost money.

Several aristocrats, including the Duc de Conde-Bourbon and the Prince de Conti, tried to sell their millions of shares, and the bank notes were devalued.

John Law went into exile in 1720, and soon arrived in Venice, Italy where he planned to return to London.

His reputation and lack of funds caused him trouble, and despite receiving a French pardon he lost his pension.

He became a spy for Britain before dying in his lodgings, located in the Piazza San Marco.

While Crime, Cash, Credit and Chaos is a decent and readable account of John Law's life, it is broken up by too many boxes giving background, including detail on Lauriston Castle, where he lived as a boy, and James VI of Scotland.

There is an interesting chapter examining whether John Law was "hero or hedonist", but the Introduction's description of John Law's trial report in the London Gazette doesn't really strike the right note.

I haven't seen this book in the shops, but Oxfordshire residents can find it in the Central Library.

For all others, it's ISBN is 978-0-9544455-1-5.

FT.com to relaunch

Paidcontent reports on the relaunch of FT.com, including the site's name change to "Financial Times", sponsored supplements like the print edition, and a Middle East homepage.

Via Martin Stabe.

Bremner Bird and Fortune: Silly Money Part Two

This week, in "The China Syndrome", the three satirists discussed the role of the former Communist country in the global economy.

Unlike many countries, China has saved trillions of dollars in foreign reserves.

As there are no social programmes, citizens must save around 50% of their money to survive.

Families are only allowed one child, so they cannot rely on their income.

Their economy has grown by 10% per year for the last 25 years, while a city the size of London is built every year.

There are currently 1.3 billion people in China.

Investment from China subsides the American economy.

China also depends on America and Europe buying their exports.

The Chinese Prime Minster warned in 2007 that the economy was "unbalanced, uncoordinated and unsustainable."

There are national shopping holidays to prevent an economic slowdown.

The Telegraph reports how China's attempts to boost it's economy has had a knock-on effect on the British economic situation.

China and Africa:

China has announced five new economic cooperation zones in Africa.

In 1996, Chinese trade with Africa was worth $5.6 billion.

By 2007, Chinese trade with Africa was worth $65 billion.

The 2010 target is $100 billion.

When Jack Straw describes the Chinese as "the new colonists", they were infuriated.

The Forum On China-Africa Co-operation was established and in 2006 40 African leaders came to Beijing. They were greeted with billions of dollars in aid and debt relief: the African Investment Fund.

Unlike the British, the Chinese did not lecture African leaders on human rights while trying to do business.

A great Comic Relief spoof entitled "Commie Relief" showed some of the African leaders who benefited from Chinese money, including Sudan's President Omar al-Bashir.

Local textile workers in Africa have been undercut by cheap Chinese imports, creating resentment.

"The paradox of plenty" has meant that poor African countries have become some of the highest consumers of expensive goods due to the wealth of their leaders.

As Rory Bremner says,"For mad weapons, read mad economics".

The Chinese have been importing 2.5 million barrels of oil per day from Africa.

Sketches during the show:

The two Johns also did an excellent George Parr sketch featuring a rather grim businessman who invested in China:"Imagine life without being able to text dirty jokes to each other or being able to watch Celebrity Wife Swap...All [the Chinese} think about is money. I think that's very healthy.", as well as one featuring an African president:"We don't go in much for employment. It gives the population too many ideas.

There were also some good Gordon Brown sketches, including one of the Prime Minister considering paying Chinese in opium.

Next week, Silly Money asks how we'll pay the bills.

Inside The Saudi Kingdom: BBC Two

For the first time, one of the rulers of Saudi Arabia has allowed a Western documentary crew to film him.

Prince Saud bin Abdul Mohsen,a senior member of the Saudi royal family, has granted access to Lionel Mill and his crew for one month.

The Prince is one of 20 that rule modern day Saudi Arabia. The country has thirteen provinces, each one governed by a royal prince.

Prince Saud bin Abdul Mohsen has been the governor of Ha'il Province for eight years, and is a cousin of the King of Saudi Arabia.

He is concerned about paranoia in his country, and an official from the Ministry of Information accompanied the camera crew everywhere.

The Prince governs almost 600,000 people in the agricultural centre of Saudi Arabia, and is bound by Sharia law, which controls all aspects of Saudi life.

He says that the security and economic situation in the world is not just for one nation, and he is allowing the documentary to be made: "for his country".

"I belong to a family that actually I'm proud...the we have led this country for three centuries...It's frustrating but it's satisfying."

Daily meetings (majlis) at the imara (town hall) allow people to tell their problems to the Prince, and the segregation of men and women in Islamic culture means that two separate meetings are needed.

Prince Saud bin Abdul Mohsen sees forty cases a day, most passed onto the courts.

Women in Ha'il province wear conservative dress, including the hijab and burqa, unlike elsewhere in Saudi Arabia.

Sharia law has been criticised for its attitude to divorce.

A woman must prove that an offence such as desertion has occurred before a court, while a man does not need to resort to legal channels to divorce.

It is illegal to practise a religion other than Islam in Saudi Arabia outside of embassies.

Capital punishment cases are often referred to the King. The Prince says: "it is not an easy thing for someone to be executed...[executions are] accepted by the majority of the people. We have no apologies."

He also explains that theft has to be carried out three times with witnesses each time, before a hand is removed. "Why is it Saudi Arabia that's always under the microscope".

The weekly dinner is another way that people can voice their views. This week, it is the turn of clerics and judges.

Prince Saud bin Abdul Mohsen is accountable to King Abdullah bin Abdul Aziz Al Saud (his uncle) and the deputy prime minister and crown prince.

Every fortnight, he flies with his entourage, representing all the tribes in Ha'il province, to meet the king.

Reforms under include municipal council elections (although only men can vote) and an expansion of the unelected ruling council.

There are concerns about the Saudi health service, which the Prince describes as a "complicated problem" at a meeting with local dignitaries. He says "People are much more liable to speak out that three years ago, which is promoting a very healthy atmosphere."

Fatima Saleh Yahya, a student studying Arabic, explained how ID cards were needed to prove women's identity as they had no documents. She feels women can only overcome difficulties with the support of the men they live with.

Even religious families are now allowing women to work in mixed environments and improve their job prospects, as Fawzia al Otaibi, a female doctor, explains.

By 2020, the population of Saudi Arabia will double. Six new cities are being built, with some building taking place in Ha'il province. "We are not just building buildings. We are also trying to train the men and women who run this city."

The top 5% of students in Saudi Arabia are given grants to study IT and science subjects abroad. "The future of this country will be determined not by its oil but by its manpower...We are concentrating on jobs that will take our country into the twenty-first century."

Expat university staff are free to practise their religion in the compound where they live. However, they must follow Muslim customs outside the compound, including wearing traditional Muslim dress. Female staff members cannot drive.

Part of the job of enforcing Sharia law is given to the Mutaween (religious police), including seizing "un-Islamic" products and enforcing the veiling of women. They attack offenders with bamboo rods and are criticized for being made.

The rise of new media has led to a rise in Internet censorship in Saudi Arabia and intimidation of Saudi bloggers.

The Internet is also affecting personal relationships. Many younger men and women meet each other online.

The Prince says "we want to catch up on the scientific front, on the technological front...we have a lot to do."

Clearly, he desires a balance between tradition and essential modernisation.

Although I enjoyed watching Lionel Mill's documentary, I was annoyed that people's names were not displayed on the screen.

This made it difficult to blog about Inside The Saudi Kingdom.

When the Prince or others were using Saudi terms, it would have helped as well if those sentences were subtitled.

It is very difficult to check the correct spelling of Saudi terms when they are hard to hear, and I have only used the ones I am 100% sure of.

Some background on the documentary, including the reaction at the Frontline Club, from Alan Philps at The National, an English-language newspaper launched earlier this year in the United Arab Emirates.

National Party wins New Zealand election

There has been even less coverage of the New Zealand election than the Canadian one, which I find sad.

On Saturday the National Party won 45.5 per cent of the vote and 59 of the 122 Parliament seats, meaning a majority in the election.

Their coalition partner ACT won five seats, while the supportive United Future party won one seat.

The Labour Party, by contrast, holds 43 seats, with 8 held by the Greens and one held by the Progressive Party.

Former Labour Prime Minister Helen Clark has conceded defeat.

Channelnewsasia reports that the Prime Minister elect John Key wants to be sworn in by November 17th, in order to attend the Asia-Pacific Economic Cooperation leaders summit on November 22nd.

More from Bloomberg.

Guido Fawkes claimed promises of tax cuts by John Key helped win the election for the National Party.

Below is a Youtube video of a debate between John Key and Helen Clark on 10th September.

Remberence Sunday today

Today is Remembrance Sunday, the day when we remember all those who were killed in all past and current conflicts, including both World Wars and the current wars in Iraq and Afghanistan.

I wonder if we will ever see a world without war and expensive arms deals.

The Royal British Legion have a Poppy Man moblog (mobile blog), using Web 2.0 to encourage us to remember the dead.

They are also running a campaign to improve the lot of ex-servicemen, many of whom live in poverty.

New Liberal Democrat President elected

The Liberal Democrat Party has elected Baroness Ros Scott as its next President.

She won 20,736 votes (72%), while Lembit Opik came second with 6,247 votes (22%).

The third candidate, Chandila Fernando, won 1,799 votes (6%)

Like Barack Obama, she will take over in January from the preceding President, in this case Simon Hughes.

If Chandila Fernando had won, no doubt we'd have heard some ABBA songs at the victory party...

You can see Ros Scott's manifesto here.

There is a promising commitment to new media, although it needs to go much further:

# Keep in touch with the membership through regular e mail bulletins, my blog, LD News and Party mailings.
# Use e mail and electronic voting as a means of consulting members.

It would be nice if the role of online video and social media in party politics was acknowledged as well. That will be important for the Liberal Democrats both internally and externally.

Helping political parties with their new media campagins is something I've always fancied.

Shorty Awards

Nominated anyone for the Shorty Awards yet?

Stagecoach bus strike in Scotland back on

Update: Today's strike is suspended.

Following a re-balloting of staff by the T&G Unite union, union members at Stagecoach Bluebird have decided to go ahead with three-one day strikes in November 2008.

The strikes will occur on the 11th, 21th and 24th November and will affect Aberdeenshire, Buchan, Moray and Inverness.

You can view strike timetables for these areas here.

In other news, Aer Lingus staff in Northern Ireland have also voted to strike.

Poynter Online:Understanding Video Compression and Streaming

Good grounding by Jan Ozer on the meaning of online video terms including bandwith, progressive download, resolution and streaming.

Ozer will host a NewsU Webinar (online seminar) about streaming on Thursday, Nov. 13.

The cost is £15.80

No2ID have Jacqui Smith's fingerprints

Guido Fawkes reports that the anti-ID card group NO2ID have managed to a glass handled by Home Secretary Jacqui Smith and are confident they will be able to reproduce her fingerprints.

NO2ID's Phil Booth told the BBC's Westminster Diary: "We are extremely optimistic that we will get at least one of Jacqui Smith's dabs on the record" and said the glass will be returned to the Social Market Foundation where Jacqui Smith was speaking.

Events should become more interesting for the Home Secretary in months to come.

Privacy International and No2ID are also offering a £1000 reward for Prime Minster Gordon Brown's fingerprints.

Queen Mary Islamic Society talk: Credit Crunch - The Islamic Perspective

A talk entitled "Credit Crunch - The Islamic Perspective" will be given at Queen Mary University by Shaykh Haitham al-Haddad on November 12th 2008.

The event will take place in the Physics Lecture Theatre, Mile End Road, Tower Hamlets from 2:00pm to 4:00pm.

The event is advertised as open to all. For more information, males should contact brotherATqueenmaryisoc.co.uk and females should contact sisterATqueenmaryisoc.co.uk (replace AT with "@").

Shaykh Haitham studied for 12 years with various scholars in Saudi Arabia, and has an ijaza (certificate)including Islamic jurisprudence and principles of Islamic jurisprudence.

He holds a BSc Honours in Law and Shari'ah from Omdurman University in Khartoum, Sudan and a BSc in Computer Science from King Fahd University of Petroleum and Minerals in Saudi Arabia.

Shaykh Haitham sits on the board of advisors of a number of key Islamic organisations in the United Kingdom, including the Islamic Sharia Council of Britain. His speciality is in principles of Islamic jurisprudence, Islamic law and Islamic finance.

Getting to the talk:

Nearest tube is Stepney Green and Limehouse Docklands Light Railway station is also a fifteen minute walk. The 25 bus also stops outside the campus.

The Physics building is to the right of the Queens Building, near the main entreance and the Physics Lecture Theatre is on the ground floor, opposite of the elevator.

These are all the details I know but it sounds interesting. The event is organised by Queen Mary University Islamic Society.

If the talk is on Youtube I'll try and post it.

BBC News: Lenders heed calls for rate cuts

Maybe it was the Sun's headline "Now Pass It On, You Bankers", that won it.

BBC News Online reports that the main mortgage lenders will cut their main variable lending rates by 1.5%.

Asda recalls DVD players

If you have bought a DVD player from Asda with the model number DVD1072UK, return it to your nearest store.

According to BBC News Online, Asda estimates that a third of the players have a hole in the outer casing, which could put them at risk of electrocution.

You don't need to worry about the packaging or a receipt, you will receive a refund even if you just bring the DVD1072UK DVD player itself.

It is rather disappointing that there is no mention of this urgent recall on the Asda website.

Although it is bad publicity for the store, it would be worse publicity if someone was killed by one of these DVD players and they claimed Asda failed to warn them.

Earlier this year the supermarket recalled Durabrand XB2316 microwaves.

Credit Crash Britain: Episode Two

In Episode Two of the BBC's Credit Crash Britain, the Money Programme's Max Flint investigated what the credit crunch meant for ordinary people.

Banks are reluctant to lend money, meaning that 45,000 homes will be repossessed this year as people are unable to keep up with mortgage repayments.

Interest payments on loans and credit cards have increased by £94 billion pounds, meaning every 5 minutes someone is going bankrupt.

Max Flint visited an auction house in Nottingham where expensive cars are being auctioned by people desperate for money.

One former owner didn't even have the money to repair a damaged windscreen first.

Consumer debt is over £1.3 trillion, more than Britain's GDP.

Chris Giles, the economics editor of the Financial Times, explained how it was harder to get a loan from your bank manager in the old days, when he would know all the details of your circumstances.

The removal of banking regulations in the 1980's meant that many building societies were demutalised while credit cards began to be heavily promoted.

In the 1990's, there was an influx of American credit card companies which were more heavily marketed. The "loan risk revolver", By the 2000's, borrowing on credit cards surged to £81 billion.

Bruce Eyre was one of many Britons with multiple credit cards, thinking his house could be sold if debts got too big.

The fall in prices has meant his house has been repossessed and he is bankrupt. He owed £275,000 in total.

Gordon Maw, a credit card analyst, told Max Flint that credit cards had become a way of paying for things you couldn't afford.

Interest rates were cut in 2003 to 3.5%, making borrowing money cheaper. £38 billion was spent on fashion and £8 billion was spent on longhaul holidays during this period.

Further cuts in the borrowing rates to boost the economy, leading to "silly lending", according to Chris Giles.

Mortgages were sold on as financial products. US homeowners defaulted on loans, in by August 2007 there were problems.

Since last summer, banks have been reluctant to lend money and have been calling in old debts.

The amount needed for a deposit on your mortgage has risen from 10% to 20%,while credit card companies are charging fees for infrequent card use.

Over the past six months, two million personal loan applications have been turned down.

Provident Financial is one of many doorstep credit lending agencies whose business has been booming, with a personalised service.

Chris Gillespie, the company's managing director, says that the company is on to a winning formula. They currently have 1.7 million customers. However, doorstep lending is relatively expensive compared to a credit union.

The age of cheap lending is over, and many young people will find it difficult to get a mortgage to get on the property leader.

As the recession deepens, the number of people with their homes repossessed will increase.

Many people will need to adjust to a life without easy money.

Next week Credit Crash Britain investigates the property slump.

Blond Across The Pond: Behind the Scenes - Election Night

KVAL journalist and former Westminster University journalism student Denae D'Arcy's behind the scenes photographs from Election Night.

KVAL is a television station in Oregon, America.

Oxford Times: A most singular Yank in Oxford

The excellent Reg Little talks to Radio Oxford broadcaster Bill Heine (who lives in the house with a shark through the roof in Headington) about his life.

I enjoyed the article and you can read it here.

I'm glad to see the Oxford Times have put a search box on the website at the top of the page, like I suggested.

They still need to put more social bookmarking buttons next to articles.

In other news, a 1940's silo near my home in Kidlington will be demolished to make way for a waste recycling plant next to the Water Eaton Park and Ride.

I hope the 24 hour lorry access to the waste recycling plant does not cause congestion for cars or buses.

It probably will.

UK interest rates cut by 1.5%

The Bank of England has cut interest rates by 1.5%, surprising everyone.

I hope this encourages banks to lend to each other again.

Although some people on the Times Comments section were complaining that this only helps the banks, there will also be a boost to the wider economy.

I'm glad the Bank of England saw sense.

A cut of 2% may have done even more to help, but might have caused sterling problems.

Concern over banning of international radio stations from national frequencies in Azerbaijan

The Azerbaijan Journalists’ Union,Yeni Nesil, and human rights organisation Article 19 are concerned about a statement by Nushiravan Maharramli, the Chairman of the Azerbaijan National Television and Radio Council, who declared that national frequencies will be cleared of international broadcasters by 2009.

Maharramli justified this decision by saying "These radios can further broadcast their programmes in Azerbaijan through satellite, cable network and internet."

However, the majority of the population do not posses these, meaning that TV and radio broadcasters are an important primary source of information.

In 2007, Azerbaijan had Europe’s highest rate of imprisonment of journalists, according to Article 19’s monitoring, although five journalists were pardoned and freed in January 2008. Violence against journalists is also common.

The government’s control over the broadcast media is exercised through the regulatory body, the Azerbaijan National Television and Radio Council, all nine members of which are appointed by the President.

"Even without going into the legal details of such a decision, one can unambiguously say that the ban on the free broadcasting of international radio stations in Azerbaijan, who are good examples of media pluralism and stimulate social debate within this society, will considerably constrict freedom of expression in the country," said Arif Aliev, Chairman of Yeni Nesil Journalists’ Union.

Article 19 and Yeni Nesil urge the Azerbaijan National Television and Radio Council to review their decision and to approach the issue from the perspective of freedom of expression and the public interest.

They also want the Azerbaijan authorities to reform current legislation, in order to bring about greater independence, pluralism and diversity among the broadcasting media.

Home Office asks shops to bid for ID card fingerprinting scheme

The Daily Mail reports that the Home Office is inviting retailers and the Post Office to bid for the right to fingerprint us for ID cards.

So the Government are determined to push ahead with this plan to know as much about as possible.

Even if ID cards do prevent crime, which I doubt, they will reduce quality of life so much that I hardly feel it is worth it.

They will be error-strewn and there will most likely be data losses.

If I knew a supermarket was taking fingerprints or had biometric booths, I would shop elsewhere.

Jacqui Smith has also made the laughable claim that people having been coming up to her and calling for the introduction of ID cards.

This is one of those unverifiable claims that government ministers make on Question Time "People in my constituency have told me..." I've had experience of this in day to day life, although not from government ministers, and it's disgusting.

The plan to issue airside workers at Manchester and London City airports could cause problems for the government.

Both airport unions and airlines are opposed to the plans, and the TUC has voted to oppose their introduction. Although the cards will be free, they will also be compulsory.

I wonder if we will see strikes at the trial airports when the cards are introduced.

Meanwhile, Home Office adviser Louise Casey blames lack of information on resolved crimes on a lack of trust in the police force.

I have some recommended police blogs for Ms Casey: here, here and here. These blogs also give a good summary of policing in the United Kingdom.

And she shouldn't fall for the Hazel Blears analysis of blogs. These police blogs reflect reality.

The Home Office should cancel ID cards and spent the money on improving law enforcement.

Their other big idea announced today, to make the guilty pay for their defence costs, has one flaw. What happens if someone is later found to be innocent, as happened with the Birmingham Six? Is this money repaid on top of their (often limited) compensation?

No2ID.

The Economic Naturalist: Why Economics Explains Almost Everything by Robert H Frank

Over the past few months I've become more and more interested in economics. If you share my passion, you should read The Economic Naturalist: Why Economics explains almost everything.

Robert H.Frank, a professor of management and economics at Cornell University's Johnson Graduate School of Management, has written a book explaining everyday situations using economics.

Dozens of questions,such as "Why do retailers put Christmas decorations on display in September?" and "Why do so many schools require pupils to wear school uniforms?" are answered in plain English, often with gentle humour as well.

The book is packed interesting revelations, including why retailers sometimes damage their products on purpose, and provides an interesting introduction to everyday economics.

It is so well written that I devoured it over an afternoon, and it gives a basic and very approachable grounding in supply and demand, product design and marketplace signals.

I strongly recommend this book. It lifts the curtain on a subject that many shy away from, even though it is key to understanding how the world works.

The Economic Naturalist: Why Economics explains almost everything is published by Virgin Books at £7.99.

You can see Robert H.Frank speak about his book as part of the Authors@Google series below:



The event took place on July 23, 2007 at Google headquarters in Mountain View, California.

Our two guinea pigs and Guy Fawkes Night

Last night was Guy Fawkes Night, and our guinea pigs, Holly and Maisie were scared by the loud noises from fireworks nearby.

We managed to calm them down by putting Chris Evans' Radio 2 show on for them to listen to, and they were quite happy.

Any pet owners with worried animals might like to try putting the radio on -quietly, animals' ears are often sensitive - for an hour or two to distract them from loud fireworks.

The radio should be a good half-metre or so away from the animals as well. Don't put it right by them.

Hazel Blears attacks political bloggers

Communities secretary Hazel Blears has blamed political bloggers for "fuelling a culture of cynicism about politics" in a speech to the Hansard Society.

She mentions Iain Dale and Guido Fawkes, both of whom will have gained increased traffic through links on the BBC report, but ignores the slightly more pro-government Harry's Place, Bloggers4Labour and Labour MP for West Bromwich East Tom Watson's blog.

The BBC reports Blears accused political bloggers of "fuelling disengagement by focusing on "unearthing scandals, conspiracies and perceived hypocrisy" and said political blogs were written by "people with disdain for the political system and politicians".

This reminds me of Margaret Beckett calling Rory Bremner cynical for prank calling her and in the process finding out interesting info. The current trend in the Labour Party seems to be for cabinet members to call any media highlighting their shortcomings "cynical".

It's not hard to be cynical, eleven years into a Labour government with the economy in a mess.

It's not helped when Gordon Brown's actions as Chancellor and Prime Minister, as well as Alistair Darling's actions as Chancellor, helped bring us to this stage.

Labour politicians have hardly been scandal-free either. Just look at the recent reports about Tony Blair's conduct in the Formula 1 smoking ban affair, Jo Moore's comments on September 11th and the political donations row.

I can't remember a British party leader that inspired me since Charles Kennedy. The excitement here about Barack Obama's victory is partly due to our desire for a British Obama. We get David Cameron instead.

If politicians are so annoyed by political blogs, they should do a better job. Blogs are places of comment, not a means of making people cynical and gloomy. We have Hazel Blears for that.

Guido Fawkes responds to Hazel Blears.

Brett responds at Harry's Place - and I wish I'd thought of that "Nutty Hazel" joke! He also points out Hazel has a blog herself.

David Gregory of the BBC Politics Show's thoughts.

Barack Obama wins American Presidential election

Slightly late, but Democratic candidate Barack Obama has won the 2008 American Presidential election.

I'm glad. I agree with those who say Obama has a lot to live up to, but McCain's cynical choice of Sarah Palin - who described Democrat voters in Virgina as "not real Virginia" as well as the nature of some of his supporters (not all), made me glad Obama won it.

McCain might be a decent man, and I don't mean to be ageist, but I think he's too old and tired to be President. During the last few weeks of the campaign he was exhausted and stumbling.

Let's hope Obama does usher in an era of change, both nationally and internationally.
Wonder what gaffess Joe Biden will make as vice-president.

Disturbing toilets at Ealing Broadway

Slightly unrelated post. I was on the London Underground today travelling to Ealing Broadway underground station on the District Line.

I had a bit of time spare so decided to use the toilets next to the waiting room for National Rail passengers, maintained by First Great Western.

I noticed that there was a hole in the partition separating my cubicle from the next. Not big enough for the obvious purpose, but big enough to look through and shout "I'm spying on you!" (something I decided not to do).

It would be nice if First Great Western fixed this so passengers weren't in danger of being spied on each time they answered a call of nature.

I apologise for the focus on toilets in this post. As for the other focus, the London Underground, there is an excellent blog on it here.

Flash Forward Film Festival showcases films made by Oxfordshire residents with learning difficulties

The second Flash Forward Film Festival, which presents films made by people in Oxfordshire with learning difficulties, will take place from 3pm to 7pm on Sunday 30th November 2008 at The Regal, Cowley Road, Oxford, OX4 1UR.

You can order tickets by phoning (01865)241 261 or online.

Films shown will include drama, documentary and animation, and there are awards to be won.

After the films are shown, there be having a special disco networking session with DJ's from Oxford's Stingray club, run by people with a learning disability.

Tickets are £1.50. The event is organised by Oxford Film and Video Makers.

Royal Mail

Is it me, or does Royal Mail never deliver at the same time each day?

New Defra guidelines do not go far enough

The Department for Environment, Food and Rural Affairs (Defra) has issued new advice for cat and dog owners about keeping their pets entertained and occupied.

You can see a PDF of the cat information and dog information by clicking on the links in this sentence (you will need Adobe Reader).

Owners will not be fined for breaking the rules, but failure to follow them may be used in animal cruelty prosecutions.

However, I would like to see a "pet's charter" whereby every pet-not just a cat or dog- has certain basic rights, which RSPCA officers would be able to oversee. This would also discourage lax owners from buying pets.

All animals brought from pet shops should be registered with Defra, just like televisions are with TV Licensing. An inspection should be undertaken twice during the first month of ownership and once a year afterwards.

The right to a regular, clean and safe water and food supply, the right to a suitable place to sleep and the right to a quiet home should be among these.

It is also important for DEFRA to issue guidelines on other common pets, including guinea pigs (lots of playthings, exercise, no loud sounds, lots of lovely vegtables) and gerbils (a deep cage full of sawdust to burrow in, playthings, a stable food container, and time for exercise).

Some pets get lonely on their own and I would like to see a ban on many animals, including hamsters, gerbils, rabbits and guinea pigs, being sold separately.

Our guinea pigs sometimes bicker, but they would be fed up apart. They love to hide under tables and waddle around the kitchen together.

One commentator on the BBC News site posted this

Once again the nanny state strikes, full of useless information and pointing out the blatantly obvious, we need to stop wasting money on these useless things and put our taxes to more practical use.

The number of prosecutions for animal cruelty and the number of animals in rescue centres suggests otherwise.

More needs to be done to protect pets from cruel and ignorant owners. This is a good first step, but we need tougher regulations, stricter penalties and eduction in schools about looking after pets.

Legal fund launched for Manchester nurse Karen Reissmann

Supporters of the Manchester nurse and UNISON representative Karen Reissmann, sacked for speaking out against the transfer of NHS care to the voluntary sector, have launched a fund to help pay for her legal costs.

Donations can be made to "Karen Reissmann legal defence fund", Unity
Trust Bank, sort code 08-60-01, account number 20215859, and sent to Kathy Crotty,treasurer, 181 St Mary's Rd, Manchester M40 0BN.

Patrons of Karen's legal defence fund include John Leech, Liberal Democrat MP for Withington, John McDonnell, Labour MP for Hayes and Harlington, Manchester solicitor Robert Lizar, and writer Hilary Wainwright.

Paul Reed from the Manchester User Network (MUN) said " MUN have supported Karen from day 1 because we know the injustice behind the case. We are happy to contribute in any way we can and call on our fellow Mancunians to do likewise."

Graham Pink, a retired nurse from Stockport who was unfairly dismissed for speaking out about care of the elderly 18 years ago, said:"I am appalled that nearly two decades after my case this unacceptable treatment could be inflicted on a caring nurse."

Karen's tribunal will go ahead on January 26 2008, according to the Manchester Evening News.

Obama and McCain on Facebook

What is John McCain's favourite book?

What is Barack Obama's favourite television programme?

What is Joe Biden's favourite soft toy?

Okay, I made the last one up (although I'm sure he'd love an ITV Digital/PG Tips Monkey), but you can learn a lot of interesting trivia about the candidates by looking at their Facebook pages.

John McCain (or his campaign team) has put his CV in the wrong order and under Religious Views he lists "North Phoenix Baptist Church" rather than "Baptist".

He enjoys "Sports, Hiking, Fishing, Boxing, Basketball, Football, Baseball, History", his favourite book is For Whom the Bell Tolls and his favourite films are "Viva Zapata, Letters From Iwo Jima, Some Like It Hot".

After a long day Barracking Obama, McCain likes to relax with 24 or Seinfeld.

Barack Obama enjoys "Basketball, writing, loafing w/ kids" and his favourite books are "Song of Solomon (Toni Morrison), Moby Dick,Shakespeare's Tragedies, Parting the Waters, Gilead (Robinson), Self-Reliance (Emerson), The Bible, Lincoln's Collected Writings."

He likes listening to Miles Davis, John Coltrane, Bob Dylan, Stevie Wonder,Johann Sebastian Bach (cello suites), and The Fugees.

His favourite films are Casablanca, Godfather I & II, Lawrence of Arabia and
One Flew Over the Cuckoo's Nest. His favourite television program is "Sportscenter."

The Obama campaign have been praised for their use of new media, and they are leading on Facebook. Over 2 million users have become Obama supporters, while just over 600,000 support McCain.

BBC News: Icesave compensation plan starts

The BBC reports on how UK savers with money in Icesave can move their funds.

Icesave customers will receive two e-mails from the Financial Services Compensation Scheme (FSCS).

The first will tell them that the process for retrieving their money is being launched, and the second will then give them precise details of what they should do.

More from the FSCS site.

Sweet Dreams: Green and Blacks by Craig Sams and Josephine Fairley

Sweet Dreams is the story of Craig Sams and Josephine Fairley's creation of the ethical choclate company Green and Blacks.

The Green and Blacks chocolate bar was released in August 1991, and received rave reviews in the Independent, Sunday Times and Taste magazine.

By October 1991, 913 crates had been sold.

The problem of distribution first came up in 1993 when the supply of cocoa from Togo was interrupted due to civil war, but a deal with Belize cocoa farmers solved this and led to the creation of the Maya Gold bar.

Organic certification was gained from the Fairtrade Foundation and Soil Assocation, and Sainsburys became the first supermarket to stock the bar.

After poor sales at the Hampton Court Flower show in 1995, the pair decided to sell ice cream so they could make money in hot weather as well as cold.

In 1998, trouble struck. There was a huge hole in the budget and £350,000 was missing. Sams and Fairley were forced to take their former managing director Alan Wills to court to get back the £32000 profit share they had given him.

A deal was agreed with Duerr's where they would take over and finance all of Green and Black's stock, as well as extend Sams and Fairley a £600,000 loan. Green and Blacks also did a deal with Italian chocolate maker ICAM to buy chocolate directly from them.

In 2003, Cadbury's bought 5% of the company and the company was sold to them in 2005. The company are praised in the book for their ethical activities, including giving jobs to the homeless and raising money for wells in Ghana.

Craig Sams and Josephine Fairley are still non-executive directors of Green and Blacks and currently run Judges Bakery in Sussex and the Wellington Square Natural Health Centre.

Throughout Sweet Dreams, the pair emphasise the importance of ethical business and explain the lives of cocoa growers around the globe.

There is also an interesting potted history of chocolate, from harvest to chocolate bar, as well the way to taste chocolate and tips on how to keep yourself healthy and energetic.

Sweet Dreams offers plenty of advice for those thinking of going into ethical business, as well as the exciting story of one brand.

Bremner Bird and Fortune: Silly Money Part One

The wonderful trio of satirists, Rory Bremner, John Bird and John Fortune, are back to explain the financial crisis with razor-sharp wit and keep us laughing in the recession, the latter role being shared with Peter Mandelson.

In a four-part series starting yesterday, the pair explain how we came from boom times to hard times.

Last night's episode used archive footage, sketches and standup to explain the credit crisis to the nation.

The two Johns used their "George Parr" sketches to explain the mindset of investment bankers "Everybody asking all sort of difficult questions...nit-picking like 'Where the money gone?'... as if I'm supposed to know," "Stupidity and incompetance...that's something we can be very proud of" and there was even a sketch based around the South Sea Bubble, showing how little we had learnt since the early 1700's.

Rory Bremner spoofed Gordon Brown, Robert Peston, Dr Rowan Williams, and George Bush, and he had some good lines in his standup (or desk-bound) comedy, laughing at bankers around the globe while explaining the insanity of it all "Stan O'Neil left Merrill Lynch with a heavy heart, but a heavier wallet." "I happen to know the White House is going to be repossessed any day now." There were apt comparisons with 1929 and the cautious 1950's as well.

The role of Bill Clinton in the crash was also examined. Clinton allowed Fannie Mae to enter the sub prime mortgage market to finance mortgages for people with poor credit ratings.

This meant that thousands of Americans have mortgages they could never pay back, and homes are being repossessed across the nation. Some Detroit houses are being sold for under $5000.

Next week Silly Money will look at the role of China. You can see last night's episode on 40D.

Movilla High School Classes To Resume

The Belfast Telegraph has reported that teachers at Movilla High School, County Down, are returning to work.

Teachers went on strike after refusing to teach a child who allegedly attacked a teacher.

The paper claims the deal includes an independent expert assessing the child's educational needs.

Misleading British Gas advert: "The Tribune"

Along with the other junk mail about takeaways and curry houses in Kidlington, a four-page spread entitled "The Tribune: Your Local Weekly Newspaper" dropped through my door today.

It gives all the signs of being a newspaper.

Nowhere in the freesheet is the word "advert" mentioned and there is even a "Views" page. There are pullquotes in some articles and a logo of a scowling eagle.

It is, however, an advert for British Gas.

The stories all feature the energy company to some extent, including a rather pathetic cartoon by Mitch which could alienate female customers.

The cartoon shows a British Gas engineer asking "What do you want to do with your OLD BOILER, Mr Krabapple?".

The man replies - shining wit that he is- "Just leave her there, she keeps the kids occupied!!" The word "occupied" is in larger type as well as the two exclamation marks, in case morons are unsure of what words to focus on. Laugh? No.

There are adverts for British Gas in the publication, but the rest is presented as a neutral news source, which it is not.

It even says "Issue 497" although I've never seen this promotion before.

On the back a box has the text "Family give British Gas Engineer a warm welcome: See Page 16", although the advert is only four pages.

"Quotes of the week" are from unnamed British Gas customers saying how much they love British Gas, although they don't love British Gas enough to give any details other than the town where they are living.

"The Tribune" is one of the most misleading adverts I have ever seen.

It is intended to fool people into thinking it is a trusted news source, mimicking the layout of a local newspaper and using as many bylines as possible to create the impression of a newsroom.

The advert is in direct contravention of the British Code of Advertising, Sales Promotion and Direct Marketing.

6.1 Marketers should not exploit the credulity, lack of knowledge or inexperience of consumers.

23.2 Marketers and publishers should make clear that advertisement features are advertisements, for example by heading them "advertisement feature".

I hope the Advertising Standards Authority will penalise British Gas for this.

Scam emails are getting more inventive

The latest scam email asking from money claims to be from Susan Tsvangirai, the wife of MDC leader Morgan Tsvangirai.

We have a trunk box containing (US$6,500,000:00) deposited in a Security Company here as a family valuable. I now seek your assistance to receive this consignment for keeps pending when the political unrest in our country is resolved so that we will have back our traveling documents seized by the government to relocate to your country and settle down. If you are willing to assist us forward me the following information below:

I assume the real Susan Tsvangirai wouldn't have the email susantsw@yahoo.fr.

I await the first scam email from someone pretending to be Cherie Blair, although the sum would probably be much higher!

Studs Terkel RIP (1912-2008)

American author Studs Terkel,who chronicled the lives of millions of ordinary Americans, has died at the age of 96.

You can hear some of his work at his official site.

David Randell has written a nice piece on Studs for the Independent.

The author once said that his epitaph would be "Curiosity did not kill this cat," according to USA Today, in a review of his memoir Touch and Go.

Cold Week

A very cold week this week, with some frost around!

Autumn

Crunchy leaves under feet time of the year!

Political reform advocates jailed in Syria

Twelve Syrians who signed the Damascus Declaration for Democratic National Change were sentenced this week to up to two and a half years in prison.

Issued in 2005, the convention claims that "The authorities' monopoly of everything for more than 30 years has established an authoritarian, totalitarian, and cliquish [fi'awi] regime that has led to a lack of [interest in] politics in society, with people losing interest in public affairs."

Signatories pledge "to build a modern Syria, a free homeland for all of its citizens, safeguard the freedom of its people, and protect national independence."

The twelve signatories were charged with "publishing false information with the aim of harming the state, membership of a secret organisation designed to destabilise the state and inciting ethnic and racial tension".

Khalil Maatouk, a member of their defence team, condemned what he called their "political trial" in a Damascus court compliant to the Syrian government.

Detainees include the group's leader and doctor Fidaa Al-Horani, prominent dissident and former MP Riad Seif, and journalists Ali Abdullah, Akram Al-Bunni and Fayez Sara.

Sara, 58, a contributor to a number of Arabic publications, was arrested on 3 January 2008 for criticising the arrests of fellow participants of the Damascus Declaration National Council meeting on satellite television.

Human rights organisation Article 19 calls upon the Syrian authorities to end oppression of opposing voices and to release all Damascus Declaration detainees imprisoned.

Credit Crash Britain: Episode One

This week's Money Programme looked back over the fall of Halifax Bank of Scotland (HBOS) in October and the bailout by Lloyds TSB.

The fallout from the collapse of Lehman Brothers in America made HBOS look more vulnerable, with fears of a British bank collapsing.

Paul Mason explained that HBOS had been in trouble for months, with risky mortgage lending concerns and many short term loans used to expand its business. There was fear of another Northern Rock style run on the bank.

Lloyds TSB chairman Sir Victor Blank spoke to Gordon Brown at a private function, and got Government support for the accusation of HBOS, with competition rules waived for the creation of a super bank.

Share markets were concerned that the drying up on money markets meant the bank could go bust. Investors were worried that HBOS would not survive the turmoil.

Clem Chambers, the chief executive of ADVFN, told the Money Programme "Shares collapsed in a way I've never seen in a FTSE 100 company. Every five minutes, auction, auction, auction".

Merger talks agreed that £12 million would be paid by Lloyds TSB for HBOS, far below what the latter was worth. Eric Daniels, chief executive of Lloyds TSB, said "We all like in turbulent times."

How did it happen?:

HBOS's lending rose by a third between 2001 and 2004.

Jane Croft, the Retail Banking Correspondent of the Financial Times, explained to Paul Mason that "They were making a lot of money through the sheer volumes of credit cards, loans and mortgages."

Staff were given targets to hit in terms of mortgages sold, which ignored the mortgage quality. This caused problems for HBOS's finances.

An internal document obtained by the Money Programme explained how there were concerns about the bank's sales culture. HBOS declined to be interviewed.

Paul Moore, Head of Risk at HBOS between 2002 and 2004, told the Money Programme that there were risks to colleagues, customers and the system.

"The retail bank was going at breakneck speed...If you have a substantial difference between your lending and deposit base...you're going to be in trouble."

HBOS continued its sales drive during the recent housing boom and borrowed £200 billion from the money markets.

By June 2008, the bank was in trouble. Some shareholders were unconvinced by Andy Horby's proposals to raise £4 billion through a rights issue, leading to the emergency merger with Lloyds TSB.

The spreading of the financial crisis and the nationalisation of Bradford and Bingley meant that the deal was looking risky.

A Government plan was put into action to stem the collapse. The part-nationalisation of all high street banks meant that a 17% stake would be taken by HM Treasury in HBOS.

For the first time in history, the Government has a stake in British banking.