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Thousands of British homeowners could be at risk of losing their homes as a result of potential widespread mis-selling of 'interest-only' mortgages, it has emerged today.

I know it. You know it. We all know it. It's the elephant in the room that the subservient cowards in the mainstream media are too afraid to mention; the banking industry is run and controlled by criminals.

Speaking on BCFM Drive Time with host Tony Gosling, the former financial editor of the Scottish Sunday Herald, Ian Fraser, revealed how senior bankers avoid prosecution while getting away with committing fraud on a massive scale for decades.

On Wednesday night EU politicians passed a passed the bonus cap in Parliament, capping bankers' bonuses at a maximum of twice their base salaries, starting in 2014. But the cap will be ineffective.

John N. Gray, a distinguished intellect and retired professor of intellectual history at the London School of Economics, disagrees with the view that “the end of history” has placed humanity on a course of ethical and economic progress.

It's high time voters somewhere did. It transfers wealth to bankers, other corporate favorites and rich elites. It wrecks economies. It creates poverty, unemployment and human misery. It turns countries into dystopian backwaters.

Officially, since June 2009 the US economy has been undergoing an economic recovery from the December 2007 recession. But where is this recovery? I cannot find it, and neither can millions of unemployed Americans.

Is America on track for double dip trouble? In Q IV, government and business inventory spending declined. Auto sales alone drove consumer spending gains. Deep discounts, near zero interest rates, and Hurricane Sandy affected purchases stimulated sales.

A 'cult,' according to Merriam-Webster, can be defined as "Great devotion to a person, idea, object, movement, or work..(and)..a usually small group of people characterized by such devotion."

The Libor is the London Inter-Bank Offer Rate—the rate at which leading banks can borrow from each other in the London markets. It is, however, not simply the banking system’s cost of borrowing or obtaining funds; it has emerged as the anchor of about $800 trillion worth of international financial transactions.