34. Cum-ex Scandal

While Brexit transfixes the UK, the “cum ex” scandal is creating an equally powerful vision of the UK in Europe.
A group of men in the City of London defrauded 60bn euros from EU Nation states.
The name cum-ex apparently describes the derivatives juggling act that fuelled the fraud.
The name cannot be a  coincidence: describing male potency?  What potency?

Seen as “organised crime in pinstripes” the group is carving out an impression of the City of London where Europeans are happy to see the UK leave the EU, taking the sqaure mile  banking infuence with them.

Clever talented men picked for their maths skills work for profit in any way. Fraud taking place on an industrialised scale. What’s the point? Money money money. Greed. Machismo. What motivates men to defraud governments. Thinking that it would not be discovered. Money is a drug. The addiction forces more and more reckless behaviour.

What’s amazing is in the UK this is not big news. Stealing state money – depriving police, schools and hospitals is big news. But not in the UK at the moment. Is the internal fighting between remainers and leavers so absorbing and distracting?
But it must be having an impact in the EU. Leaving the EU with a bad impression of the UK? Who cares?

“‘In this world nothing can be said to be certain, except death and taxes.”
Perhaps tax evasion should be added.

Copyright Adrian Scott North London Counsellor Blog 2019
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Disclaimer: This weblog is the view of the writer and for general information only
This article is designed to provoke argument and critique

 

 

 

 

 

 

 

 

 

 



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