Professor William Black joins Greg McInerney to talk about his own background in fraud cases in the US and how the US and Europe are dealing with the financial crisis in different ways. As well as austerity in Ireland and Europe and Germany’s role in all of this.
Greg McInerney: This is Greg McInerney here for the meltingpress.com. This is episode three of our Alternative Voices series and we are joined today by Professor Bill Black. Bill is a former bank regulator, a professor of law and economics and also the author of the brilliant book The Best Way to Rob a Bank is to Own One. Bill thanks so much for joining us today.
The Irish economy contracted again last year on the back of a sharp fall-off in net exports linked to the so-called pharma patent cliff. Preliminary figures published today by the Central Statistics Office (CSO) showed gross domestic product (GDP) contracted by 0.3 per cent last year
The government continually talks about austerity bringing about growth despite the fact that any decent economist will tell you that growth through austerity is impossible, hence more stagnation for the Irish economy. Our GDP figures are misleading as huge multinationals like Google, Facebook and Microsoft book their international sales through Ireland but this type of transaction is not tangible wealth. GNP has been similarly distorted by foreign companies without operations in Ireland, locating their headquarters here for taxation purposes.
Amid fears of a Kremlin-backed separatist rebellion against Ukraine’s fledgling government, armed men in military uniforms took up positions at two Crimean airports as Ukraine’s interior minister warned of “a direct provocation,” but there was no sign of any violence.
Despite being described as “self-defence squads” by the Russian media, it is probable that these men are at the very least funded and armed by the Kremlin. Western media is of course quick to emphasis Russian involvement but paid very little attention to who was arming and funding pro-European paramilitary squads to date much more violent than Russian-backed militias.
So the postmortem is well under way. Ireland are out of the European Championship and they have been utterly humiliated. Most people seem to accept that whatever players we played, whatever formation we set out and whatever system we used it is the fact that the players aren’t good enough which has scuppered us. In twenty years we have produced only one player that can truly be said to have been world class. The days are gone when the top six English clubs were littered with Irish squad members. People have lamented these facts yet there has been very talk of how it all came to this and what exactly we can do to turn the tide. The story of course centres around the destination we outsource all of our best footballing talent to: England.
My name is Conor and I don’t want video evidence to have anything to do with football. I feel I had to introduce myself in such a way as the media presents this sort of view as something shameful. The television stations tell us that ‘everyone’ (spectators, managers and players) wants technology to help officials in football and anyone who disagrees is in the ‘dark ages’. As if I’ve said I want us to go back to a time when women weren’t allowed to work or that apartheid was a bit misunderstood. Nope, not the ‘dark ages’ I just want video evidence to have no place in the game. I’m sorry for what I am.