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Soweto man's house sold behind his back for R100

Solomon Nhlapo is squatting in the Soweto house his late mother first acquired in 1965. Police have told him he in tresspassing in his own home, and this week he has been ordered to appear to the Protea, Soweto, magistrates court on charges of tresspassing. His house was sold behind his back for R100 by Nedbank, all over a R22,000 loan his mother took out with the SA Perm in 1986. What makes this case all the more disturbing is Solomon has written confirmation that his mother's loan is fully paid up.

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The rape and pillage of commoners by banks

Here's a fascinating story of how Royal Bank of Scotland stripped Scottish hotel owner Nigel Henderson of his life savings when it repossessed his hotel after he took out what he thought was a regular residential home loan. Turns out, the bank pulled this heist on 16,000 businesses, but is now facing the prospect of justice in the US courts, along with massive fines. South African courts take note - this is how you handle corrupt bankers. The only question is: will Bank of Scotland survive?

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Billions in shady Gupta deals laid bare

Finance minister Pravin Gordhan filed an affidavit before the High Court last week detailing several suspicious transactions involving the Gupta family, close allies of President Jacob Zuma. This is the latest instalment if a soap opera between various factions of the ANC. Gordhan has also given the middle finger to Shaun Abrahams, head of the National Prosecuting Authority, over his invitation to the minister approach his office to review its decision to prosecute him for fraud relating to supposedly unlawful actions taken while he was head of SA Revenue Services.

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This is why you are poor

This is a brief but brilliantly written video on what causes poverty. The banks are the architects of financial crises but have managed to shift blame to competitors or even to their clients. As we watch the derivatives crisis unfold at Deutsche Bank, this is a timely reminder that the next crisis could be the last for the fiat currency experiment that is now unravelling.

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