The boycott weapon is being used again
Irish banks are frozen in the face of the mortgage crisis, their only visible response being the dispossession of people who they catapulted into penury
I’ll begin with an instructive tale from The US.
Last Wednesday, according to the New York Times, Bank of America announced that it would take a $20 billion hit to put the fallout from the subprime mortgage crisis behind it, and to satisfy its very angry investors.
Now the heavyweight investors who forced the bank to cough up the $20 billion are eyeing up other companies such as JPMorgan, Chase, Citigroup and Wells Fargo,...
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