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November 16, 2007
End Barclays deal now
The Brooklyn Paper
Editorial
Barclays, the British-based financial behemoth, has been frequently criticized for its institutional role in financing the slave trade three centuries ago, for conducting business in Nazi Germany 60 years ago, and for propping up South Africa’s Apartheid regime 30 years ago.
But Barclays’ appalling lack of civic consciousness continues to this day — and Brooklyn is being tainted by it, thanks to Atlantic Yards developer Bruce Ratner.
This week, the Sunday Times of London, a well-respected newspaper, reported that Barclays is bankrolling the corrupt and repressive regime of Zimbabwean dictator Robert Mugabe, whose self-enriching terror has devastated his country’s economy and whose twisted agricultural policies have left his people destitute and starving.
This might remain a matter of international, rather than local, outrage were it not for the large role Barclays will soon play here in Brooklyn, thanks to its $400-million deal with Ratner to have its tarnished name emblazoned atop the publicly financed basketball arena proposed for the corner of Flatbush and Atlantic avenues.
When The Brooklyn Paper first raised questions about the Barclays deal in January, Ratner’s courtiers were quick to discount our criticism of Barclays’ practices as “ancient history.” They attacked The Paper for linking Barclays to financial dealings that involved many other international banking firms.
But propping up the sinister Mugabe and his murderous henchman is not ancient history — it’s happening right now.
And Barclays is profiting from it.
And so is Bruce Ratner.
Posted by steve at November 16, 2007 6:41 AM