Tag Archives: British

British Nationalize the Banks


The UK government has announced details of a rescue package for the banking system worth up to £50bn ($88bn).

It will initially make the extra capital available to eight of the UK’s largest banks and building societies in return for preference shares in them.

It is “designed to put the British banking system on a sounder footing”, said Prime Minister Gordon Brown.

But the FTSE 100 in London fell 4%. HBOS shares rose 52% but Barclays fell 8% and Standard Chartered dropped 13%.

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Residential Schools – The Hell in Canadian History


Canadian Native PeoplesOne of the most acrimonious issues to result from the Treaty process is the dark legacy of the residential school system. The purpose of the residential schools in Canada was to educate and civilize or westernize the First Nation peoples in or

der that they adopt a more western – that is European – lifestyle. Separating the children from their parents and forcing religion on them, it was believed, was the only means by which to achieve this “civilizing” of the First Nations peoples.

In a historic and solemn day, Aboriginal students who endured abuse and torment in Canada’s residential schools will finally get a formal apology from the Canadian government today from the Prime Minister of Canada, Stephen Harper. The Canadian government acknowledged the physical and sexual abuse that occurred in the now-defunct network of federally financed, church-run residential schools and this will mark the first time a Prime Minister has apologized.