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Monday, 2 March, 2009

Ian Lacey | 16:39 UK time, Monday, 2 March 2009

presents tonight's programme, which features an investigation by Caroline Hawley. Here's Caroline with details of her report:

"Tonight, Newsnight investigates the murky world of extortionate money lending. As the recession deepens there are warnings that more and more of us will fall prey to loan sharks. We've been out on a raid against a suspected loan shark, accused of lending over a £1m to hundreds of victims. But loan sharks are not the only winners in the economic crisis, pawnbrokers and legal doorstep lenders are also benefiting. But at what cost to their customers?

Also tonight:
We'll be looking at the way in England as the government has announced an inquiry. What should Gordon Brown tell Congress when he gets his moment in the spotlight and addresses the two great houses on the Hill this week? And one of President Obama's closest advisers tells Newsnight's Ethical Man what the new administration's global warming plan will look like. (Read Ethical Man Justin Rowlatt's blog here.)"

Comments

  • Comment number 1.


    "According to Ali al-Hayek, head of the Palestinian Union of Businessmen and the owner of factories that manufacture cinderblocks, "It was not an ordinary soldier that blew up and destroyed all these buildings." Hayek, who has taken dozens of photographs of the different arenas of destruction, added: "Only an engineer knows how and where to attack a building made of concrete so that it will collapse completely, and not fall on the destroyers. A simple soldier will be afraid. This is an army that spent about three hours in every factory and demolished it or blew it up without coming under attack. It's not a five-minute wrecking job."

    Hayek and his counterpart in the Palestinian Federation of Industries, A'mer Hamad, are convinced that the destruction was directed against Gaza's economy and also against the prospects of reconstruction. "The army knew the location of every plant, every workshop, every cowshed, and with all its soul set out to destroy them," Hayek said."
    Some perspective when you inevitably cover Britain's "generous" 30 Million quid for re-building the above...

    Remember the mnemonic:
    Millions for ministration (aid) x,000,000
    Billions for bombs and bullets x,000,000,000
    Trillions for "treating" ourselves beyond our means
    x,000,000,000,000


    ed
  • Comment number 2.

    Just thought I'd repeat this before the thread goes down whatever weird and wonderful exotic, high-brow or semantic route it inevitably takes these days.

    I listened to the Andrew Marr show yesterday with him 'interviewing' Harriet Harman, when the topic of Mr. Goodwin (this Lord lark is rather devalued IMHO) came up.

    And a Government Minister said, in effect: 'it may be legal but we think the court of public opinion takes precedence'.

    If so, that is indeed an 'interesting' precedent.

    Mr. Marr seemed none too concerned.

    So I guess I need not be either.

    It has many potential applications elsewhere that I can think of. Who needs to obey the law anyway, especially when it can be bent to fit on a whim? I must try it, say, with the licence fee? 'Hey public opinion, is this really worth an enforced £139.50?'

    But looking at the blogs of some colleagues, while many, like me, do seem to think mob-rule from the top rather important, perhaps scooting off to the USA with the man who thinks it's all their fault is wisely deemed more 'fruitful'.

    Then again, maybe extortionate money lending here might also be more appropriate to redire... er.. focus our attentions upon..

    How much has my family had ripped from it, to give... lend to whom, for what and how much are we going to get by way of a return?

    Anyway, just can't wait to see what the new administration's 'Global warming plan' will be.

    Maybe... let's they can decide to call it 'climate change' instead? And even that term is proving a wee bit behind the public convincing curve, but best not to rush things, or stay at the cutting edge, eh?

  • Comment number 3.

    ENVOY BLAIR (#1)

    I noticed Blair referred to a 'conflict' in Gaza. He is clearly using the same old Crusader's Dictionary that helped him speak to the Iraqi's we liberated. It seems more like 'Shock and Awe' (aka Terror) to me.

    And Miliband-D's wisdom, was to call the bifurcation of the Palestinians, "An arrow in the heart of a two state solution."
    More like DU round up the Wrong Side of History.

  • Comment number 4.


    "Hamas, the militant Palestinian organisation, attempted to conduct secret talks with the Israeli leadership in the protracted run-up to the recent war in Gaza - with messages being passed from the group at one stage through a member of prime minister Ehud Olmert's family.

    Confirmation of attempts to establish a direct line of communication between Hamas and Israel - and the willingness of senior figures in Hamas to contemplate direct negotiations - fundamentally alters the narrative of the build-up to the war in Gaza which claimed more than 1,300 Palestinian lives and led to about a dozen Israeli deaths.
    ...
    With the conflict only two weeks away Baskin arranged a meeting with his key Hamas contact in Europe, which resulted in another offer to link Shalit to the lifting of the ceasefire. Nobody on the Israeli side replied to the final offer."
    Plus ca change, plus c'est la meme chose.


    ed
  • Comment number 5.

    GOING BOLDLY WHERE NO MAN OR ANGEL WENT BEFORE

    JunkMale (#2) She has a tendency to say some things. She appears to be interested in , without having grasped about .

    I'd respectfully recommend she joined the 'Make It So' Canute Party, except, wise souls that they are, they don't take subversives.

  • Comment number 6.

    This comment was removed because the moderators found it broke the house rules. Explain.

  • Comment number 7.

    I/Eye aye could not c anyting wrong my last.
    Are you still in luv with princess/pit tony anti beeb.

    The Brown envelope with RenewALL written in/on it read speaks 2 me, Suckher dont pay that 139 quids and a coinage monkey
    mony doon the drain ?

  • Comment number 8.

    The court of public opinion counts for nothing other than to focus the minds of those who lost theirs to actualy think about what they do. Knee jerk reaction to public opinion just re-enforces the public belief that nobody in charge actualy knows what they are talking about.

    I have no doubt that Fred Goodwin made sure that his renumeration package was water tight, including his pension. They gamble with other peoples money not their own, do the people not get that yet or what.

    In respect to extortionate money lending, well I think we are all reaping the benifit of that now are we not. In my opinion the lack of regulation and rule breaking in the legal financial markets have got us where we are now. Regulators have not yet looked deep enough to find law breaking.

    The only difference I see between the so called legal lending to the illegal lending is tax income to the government. The illegal lender is as much if not more liable to the laws of the land, the legal ones appear to be able to get around the laws of the land, or for that matter, the court of public opinion.

  • Comment number 9.

    The item about loan sharks and doorstep lenders was excellent. I was disappointed that you didn't make any mention of Credit Unions.

    How about doing a follow up piece bringing Credit Unions to the attention of the viewer.

    Does anybody agree with me.

  • Comment number 10.

    I hope Michael Crick or another journalist will ask Brown at the press conference why he has been blaming America for the financial meltdown for the last year. Also why he thinks novices should not be in charge during such a crisis as it is only people with Brown's wealth of experience that are capable of saving the world.

    Might also be an idea to ask him about Obama's crass behaviour in returning the statue of Churchill which was a gift. Would Brown excuse this behaviour as it was the action of a novice?

  • Comment number 11.

    Even cats that look like that are lovable in themselves.

  • Comment number 12.

    HEAR HEAR (#9)

    Your point well made and applauded Unclesson. I gather some CUs will only lend after a period of saving, but that does not invalidate your point. That Newsnight did not make mention, is down to negatives being more 'edgy' than positives.

    However, having won the Innovation Prize, perhaps we can expect a reversal of that hackneyed approach?

  • Comment number 13.

    THE HARMANS - A RACE APART

    The Harmans seem to be a superior race, if even half of what is on the web is true.
    She clearly does not represent women, and as for representing men . . .

    So what is she doing in Parliament; why does she hold high office?

    I have spelled it all out before. Yet another glaring (!) indication that Westminster democracy encompasses the crass and mockery (de mock crass y).

    SPOIL PARTY GAMES

  • Comment number 14.

    NO ACT MORE REVEALING

    Obama has sent back the Churchill Bust and installed Lincoln.

    Only a man of SUPREME INSENSITIVITY would have done such a thing. Also, yet again, we see his OBSESSION with Lincoln, that was indulged in the inauguration train, the pudding, the bible (and I would not be surprised if he wore 'Lincoln Pyjamas' that night.)

    If you are not cringing at the juxtaposition of 'insensitivity' and 'obsession', check it out with JJ. When these are present in a leader - be afraid; a world leader - be very afraid.

    Never forget: YES HE CAN.

  • Comment number 15.

    Excellent Newsnight tonight - loved Paul's graphs! Also loved the interview with Jamie Rubin.

    I was shocked to hear that there were loan sharks making people pay such high interest rates. Why hasn't the government got any legislation against this unfair practice? Although I understand that a lot of those taking out such loans may be financially illiterate, why aren't there any safe guards in place? Surely loan sharks should be banned.

    Unclesson - I agree with you - perhaps a report on the Credit Unions would be a good idea.

    As for the last item on the show - the poor cat! It wasn't ugly at all - it was cute! :o)

  • Comment number 16.

    Barrie,

    The Churchill bust was a gift to Shrub from Toady. I'd have got rid of it far quicker, and I wouldn't have gone to the trouble of returning it - just put it in the skip (or send it to Crawford)

    ;-)
    ed

  • Comment number 17.

    SHOCK AND PAW

    Mistress76uk (#15) "I was shocked to hear that there were loan sharks making people pay such high interest rates. Why hasn't the government got any legislation against this unfair practice? Although I understand that a lot of those taking out such loans may be financially illiterate, why aren't there any safe guards in place? Surely loan sharks should be banned."

    It's truly outrageous isn't it? Some of these were investigated back in 2003, i.e. well before the current piece of theatre, and were warned that unless they changed their practices of charging extremely high interest rates the government would legislate. Many victims are apparently threatened that unless they keep paying the extortionate usury rates they'll end up in the street. You're so right about the low mean cognitive ability too, it came to light that one of the intended victims was completely illiterate, in fact . Perhaps Jeremy and Paul could look into this?

    As you like graphs, have a look at those from . Oddly, Newsnight doesn't seem very interested in these for some reason - perhaps it's their sense of fair play, i.e. equality for all?

  • Comment number 18.



    barrie (#14) "If you are not cringing at the juxtaposition of 'insensitivity' and 'obsession', check it out with JJ."

    It's not so much him as his Grey Cardinal groomers that concern me.

  • Comment number 19.

    Who said that the Americans don't understand ?

    Hmmm observe that he does pause when he says cabal..hmmmm.

  • Comment number 20.

    Lending, loaning, pawing, battering, mortgaging etc are as old mankind it self. The only difference is that with evolution and invention of the money element, and the economic system, not only has the whole concept gotten more complex, but rather fundamentally flawed, corrupt, down right inequitable, increasing greed and crime. The whole system has perpetuated societies that are far worst then the earlier primitive tribes.

    Now the Governments have the right to print, control and with inequitable distribution of the same, keep the wheels of the hegemonic entities churning. Notwithstanding that when the balance between credit and debit does not equate, the Governments at the behest of the same SOBs who invented the flawed system, keep on printing money with impunity and reckless abandon. But the individuals who cannot balance the credit vs debit winds up belly up. In order to survive, what choice does one have, when the Government that mandate themselves to collect taxes directly for the individuals, balk and abdicate responsibility to help the same individuals, who help the Governments to function in the first place.

  • Comment number 21.

    IN PENSIVE MOOD (#16 18 19)

    Hi Ed. Sort of changes the perspective doesn't it! But then again, when Aunt Tasteless dies, do sensitive nephews send Uncle Fred all her gifts, received in life? Perhaps the situation was an EVEN GREATER test of Obama's human capacity than I realised. Time will tell. (A check of the Whitehouse washing line, for Lincoln Under-pants, might be worthwhile.)

    Grey Cardinals (love that) notwithstanding JJ, the god they erect can sometimes break free and start doing god-stuff off their own bat. What might an Obama 'Cones Hot Line' look like?

    Without knowing anything of Randy Newman, it is hard to analyse what is going on in his head. But the parallel with the Churchill Bust 'gaffe' is nice. It just might be 'Freudian irony'.

  • Comment number 22.

    Barrie,

    "(A check of the Whitehouse washing line, for Lincoln Under-pants, might be worthwhile.)"
    And, of course, the "greenest" presidency can't possibly condone a tumble dryer...

    I still can't imagine a more awkward pairing than Gordo the shuffling bear and Obama the embodiment of cool...and I suspect Broon is in dire danger of making a complete fool of himself (mission already largely accomplished). Though I'm of moderately advanced years, and not a native Brit, I feel a wee bit like an early teen cringing with embarrassment - please, Dad, do you have to?

    ;-)
    ed
  • Comment number 23.

    PENSIVE

    Sadly, not enough blog readers appear pensive enough alas. Here's an for them.

    Do you remember Stephanie Flanders' interview with Jim Flynn and Nick Mackintosh on Newsnight a while back? If so, do you now know what was wrong with it? It's worth digging out if the answer is no. Then, after watching the above glossy video (the original was just a talk), have a look at the last chapters of Herrnstein and Murray 1994 and tell yourself, these guys knew what they were doing, and drew on Lynn. But who is that one might ask? Why does one have to ask that and what does that reveal?

  • Comment number 24.

    How did Randy Newman get a mention on here? Am six foot one and i aint got a problem with short people although they do sometimes have that Napoleon complex thing going on and that low punch can catch you out.
    I don't like graphs on account i have to look at them with the aid of a flip chart and an overpaid idiot..."Tracy has yet again missed her sales target, what are we going to do about it?..."we can sack her, she's always on her mobile to her boyfiend and spends way to much time at the cooler".."er no Bob, we can't just sack her for that"..."well tracy is short, can we not sack her for been short"...er no Bob, we'd be murdered at the tribunal for that one, picture this, front-line-headlines on the Mail:dismissed for been short...massive payout."..."Look Buddy! you interviewed tracy, you scanned her CV, you never bothered to do the reference check, and if i remember rightly, you said her greatest asset was her tight arse, your on 40 grand a year...you figure it out ...am of to the cooler."

  • Comment number 25.

    More insensitivity?

    "Gordon Brown's attempts to portray himself as a global leader in a time of crisis have been dealt a blow by White House planners.

    Downing Street officials discovered last night that the Prime Minister would not, as had been expected, hold a joint press conference with President Obama after their talks at the White House today.

    Instead, the half-hour meeting in the Oval Office will be preceded by a "pool spray" – a few shouted questions from pool reporters during a photo-opportunity but no substantive discussion."
    Awwwwww!
  • Comment number 26.



    I still can't get over the idea of the Poodle and the Shrub - indelicate mental postural image for "shoulder to shoulder", instead of the more raised leg...

  • Comment number 27.

    #23 JadedJean

    Actually I still haven't stopped laughing from when you cast your opinion of Stephanie Flanders background "you have to know their background" and you felt you really put her to rights.

    You think posters are "anarchists and Trotskyites" for "painting Hitler as darkly as possible" ; you're a race "realist" ; hazy about the Holocaust etc etc.

    To the rest of the world (in the real world?) you don't cut quite the mustard in the intellectual analysis. Stephanie Flanders is probably relieved and Paul Mason probably has nightmares (you seem to like him).

    Genetic variation is greater within a race than between races. There is no scientific basis for race "realism". The scientific establishment (not just a few crackpots) reject your views and they are not "all Jews".

    99.9% of the country are happily democratic and aren't going to take up planned economies Hitler style.

    By the way what do you get called for mentioning Hitlers "drinking" sessions with his niece?

    "Thanks for making me smile."

  • Comment number 28.

    #14 barriesingleton

    Analysis from the man who "has done a bit of R&D" and therefore thinks his view that approximately 10,000 years of pertinent scientific research (real research not race "realist" hysteria) on climate change could be wrong as they make mistakes.

    So your race "realist" views of Obama could be largely redundant to the rest of the world.

    'insensitivity' and 'obsession' could well be used to describe the some of the posters on here. You just needed to add

    How did you ever lose that deposit when you ran for Parliament?

    Baffling isn't it.

  • Comment number 29.

    GRADUATION SUCKS (#23)

    Hey JJ, you didn't say how many marks for the module, when we have to submit it by, and how many words.
    Are you SURE you have a teaching qualification?

    High impact video (your link); but where is the spark of a solution? Just to say they are going to work on it is a bit worrying. Is it going to be Mad Max? Maybe 2012 Armageddon will do the trick.

  • Comment number 30.

    DEMOCRACY REALISM (#28)

    Yo Gango! I lost my deposit because I stood as me. PARTY POLITICS devalues the individual. If all Parliamentary candidates were unaffiliated, local individuals, of some repute, intent on representing local needs and issues, democracy would function the better. But surely you know that?

    I did not have the slightest chance of keeping my deposit. (By serendipity, I had, shortly before, had a 1K win on Ernie, so I was actually GBP500 up on the deal! AND God was clearly on my side!) I walked the ward for weeks; no one attacked me, no one accused me of anything unpleasant (one oik pinched my hat and lobbed it on a high post) and a very few, enthusiastically endorsed my stance. I had a ball.

    Regarding climate: I assert there is good evidence that it is COSMICALLY driven (search 'Electric Universe' on web) but the 'experts' are basing their assertions on CO2 - hence I doubt them.

    Not sure how one can be any sort of 'realist' about Obama. I don't know what race he is (though he has his mother's chin) and we may never know the REAL Barack Obama. One thing is certain, the guy on my screen is not real.

  • Comment number 31.

    IT WILL BE MORE THAN BROKEN WINDOWS

    barrie (#29) "High impact video (your link); but where is the spark of a solution?"

    What an appeal!

    There is less of one in this new video than there was in the original Press Club video released in Feb 2007. There, they promised a White Paper. I was always highly sceptical as I think it's genetic. Now they are talking much like Herrnstein and Murray in "The Bell Curve" (1994). Murray had a major impact on Reagan's domestic welfare policy ('Losing Ground') in the 80s, as did Herrnstein on Giulliani through 'Crime and Human Nature' With . A tangled web eh?

    If, as I suspect, it is largely genetic (or at least, as the data currently shows it's ) this would explain the absence of a spark in my view. It's also why most people don't like the message or the messengers (see thegangofone's frequent missives).

    The best I can suggest is that we urgently need to face up to the facts of the matter before we can hope to deal with the root of the problem effectively.

    I hope the Newsnight team is paying attention. They don't appear to have been so far, and making the case through normal (and back) channels just didn't work.

  • Comment number 32.

    CAPICE?

    thegangofone (#27) "Actually I still haven't stopped laughing from when you cast your opinion of Stephanie Flanders background "you have to know their background" and you felt you really put her to rights."

    Perhaps I have not, but is that her failing or mine? When you have stopped laughing, look up what happened to Larry Summers a few years back at Harvard when he picked up on what the professionals have been saying - remember that I provided about the sex ratios about 1 SD above the mean and how it changes exponentially beyond that? Do you know where the stimulus for that work came from? Then have a look at what Murray had to say . Start with the PowerPoint. You might light to have a look at the Rushton and Jensen paper in the box too.

    Then consider why I said that Stephanie interviewed the people for Newsnight when she interviewed Flynn and Mackintosh.

  • Comment number 33.

    Do Hemaroids Dream of Electric/elected sheep.
    Dunno, Ask the ³ÉÈËÂÛ̳- Blair Brown-Cambell

  • Comment number 34.

    If the cap fits bbc
    wear it on the other foot/put your non cheesy rare foot disease init
    I allways DO and allways will

  • Comment number 35.

    This comment was removed because the moderators found it broke the house rules. Explain.

  • Comment number 36.

    thegangofone (#27) Incidentally, when you directly quote, would you mind providing the full context, and, if possible, a live link. It's often rather difficult to tell where you are in fact quoting someone verbatim and where you are creatively ascribing/imputing, based on what you think others have said. A lot of the time you seem to misunderstand what others post I suspect.

    That's a brief lesson in the nature/pitfalls of intensional contexts.

  • Comment number 37.

    #30 barrie

    "I lost my deposit because I stood as me. PARTY POLITICS devalues the individual. If all Parliamentary candidates were unaffiliated, local individuals, of some repute, intent on representing local needs and issues, democracy would function the better. But surely you know that?"

    Yes I saw how many votes you got barrie ; )

    But now I understand what you mean when you say "Spoil Party Games". It all sounds very logical to me. : )

    Sorry I'm a bit dense! : (

  • Comment number 38.

    ^ #37 Should this read "This comment was removed because the moderators found it broke the House Rules"?

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