FIFA vs The Government

I heard the BBC reporting the Governor of the Bank of Englands remarks that the “age of irresponsibility” in the City of London is over as the Bank of England promised a crackdown on rogue traders. In a speech on Wednesday evening, the Bank of England Governor said that banks, regulators and individuals had collectively failed to prevent the market rigging that has led to bank fines worth billions of pounds and he recommended tougher rules for the City and longer jail sentences for those who attempt to manipulate markets.

This is a very British approach to a problem, introduce tough penalties, regulations and make things illegal. It made me wonder, how would either the British or the US Governments deal with FIFA, if FIFA was either a UK or US Registered company.

FIFA_Logo[1]The contrast couldn’t be more stark. In the UK they would spend ages trying to bring FIFA to court under numerous, increasing complex and confusing rules. The trial would last years and cost millions, only to collapse at some point for legal reasons.

Meanwhile, the US Government, rather than push ahead with an Untouchables Style prosecution, as it seems to be. They would settle for a financial penalty, and we’d have never heard about the FIFA corruption until the settlement was announced. FIFA currently holds a reserve of $1.52bn, so no problem in paying US Governments fines. Ironically, paying fines is of course a form of legal bribery not to participate in the theater of court, the exact opposite of what FIFA stands accused of, taking money to allow countries to participate in bidding and holding the theater of the World Cup.

In stark contrast

texasWhile a lot of todays action in the Texas Capital, as covered by social media, is about the “open carry”  bill being sent back for procedural reasons, given we still have a full 7-weeks of the Legge before they remount their horses and get out of dodge for the next 1.5 years(I know, how weird is that?), there is no doubt the bill make to it the Governors desk, where Governor Abbott has said he’ll sign it.

I’m left feeling pretty empty and hollow about Texas today though. I heard the news today on the Texas Standard about SB 204. I don’t know anything about this subject, but when I saw the justification

that the state could “no longer afford” the cost of operating all of its 13 state-supported living centers.

I was left wondering how. in what universe can Texas not afford to run these? Neither the Texas Tribune or the Texas Standard had any details on how the some 3,000 beneficiaries of these State Institutions would be cared for.

A few minutes later the Texas Standard went on to cover this story, about Sex trafficking and human slavery. The article makes a number of claims, all of which are appalling and repugnant.

the Polaris Project says 100,000 children are trafficked a year for sex in this country. The Polaris Project maintains the national human trafficking hotline. Texas ranks second in the number of calls to that hotline.

It seriously makes you ask, why are we not focusing on this as a problem, are there State programs, State hospice care, State rehab centers?

But most of all, what kinda of Men are the “buyers” and facilitate this in Texas? It’s just disgusting.

Almost as bad though is that the Legge is busy debating open carry, meaningless tax cuts, and closing State institutions because it can’t afford  them. A fine example of “you get what you vote for”.

insidious greed – HSBC

If you’ve not been following along today, it’s well worth reading back through the BBC Business Live News feed on the HSBC Tax Avoidance scandal. It is indeed the perfect example of the sort of insidious greed that is destroying society today.

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It’s not just the “me” culture that is all around us, but the industry and culture that is behind it. Rather than pay taxes now, there is a whole industry on tax-avoidance. It’s become an accepted practice, mostly illegal, certainly immoral and to deflect interest in their actions, just like with the bully at school, they deflect criticism and investigation away from their own failings, by making a big deal about those who can least defend themselves.

The amount of tax avoided, mostly illegally, by the HSBC 7,000 will have gone along way to dealing with many of challenges that the UK is currently facing, and the austerity measure they are taking.

Add to that the same offshore tax dodges being employed by large companies, and the industry of sleeze ball consultants, awarded for advising, aiding, and making this possibly, doing everything from advising, writing, and ultimately even joining governments to implement tax policy that facilitates this has got to stop.

It’s easier to blame welfare cheats, immigrants, in fact anyone than themselves. Here in Texas we have both past Governor Perry, and current Governor Abbott continually railing against the Federal Government. Under Governor Perry, we had the HHSC(Ed: no relation) contract scandal, with the State going with a no-bid contract, with little oversight and unclear results to again go after the “little people“. It’s much easier to make them the problem than deal with the problem of insidious greed of the wealthy and their legions of shills.

hsbc taxWatch this extract from the BBC Panorama show to get a quick summary, or read the summary here.