Wednesday, May 18, 2022

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Financial Crime: Robin Hood


 

1. What do you know about Robin Hood? Give a brief synopsis of his life with the following words: Sherwood Forest, the Sheriff of Nottingham, to rob, rich/poor, a man of the people

2. Has your country had any 'Robin Hoods'?

Read article hereRobin Hood Reading 

3. What was your reaction to the article? Is Duran irresponsible?  Do you think he is genuine, or has he got caught up in something that is beyond his control? Does his anti-capitalist movement not understand how the world works? Or are they going to be the catalyst that will lead to fairer financial outcomes?

4. Duran called what he did an act of 'financial civil disobedience'. What would a bank manager call it?

5. Where do your sympathies lie? With the banks or Duran?

6. How can banks effectively screen for fraudulent loans such as Duran's? Should all loan applications come with a series of questions about your politics? Should banks have knowledge of your other demands for loans?

7. His lawyers' primary defence was that people cannot be imprisoned in Spain for not paying their debts. What is the situation in your country? Can you be imprisoned for not paying your debts?

8. Duran fled Spain in 2013 because he feared the 8-year jail sentence that the prosecutor wanted to impose. Would you ever consider leaving your country in order to support a cause?

9. In 2014, Duran joined the movement 'Faircoop'. Faircoop's policies are based on using cryptocurrencies as a means of addressing global inequalities. Do you think that cryptocurrencies will lead to greater equality and new economic systems? Do you own/use any cryptocurrency? Would you?

10. How easy is it to borrow money in your country? Money lending in the UK is big business - personal debt is encouraged by numerous financial institutions - the recent measures against Covid have only increased the trend of borrowing.

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Situation

You are the hard-nosed Spanish judge appointed to hear the initial court hearing of Enric Duran. His representative is a recently qualified lawyer (your teacher) who thinks that Duran's case should become a 'cause célèbre'. Decide whether the case should be dismissed or sent to a higher court.

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Discuss quotes

"A bank is a place where they lend you an umbrella in fair weather and ask for it back when it begins to rain."

--- Robert Frost

"I was mischievous. I wasn't bad. I stole food so we could eat. My mother didn't know. I used to tell her some man gave me $10 to sweep out the yard. I was like Robin Hood. I took from the rich and gave to the poor. Me."

--- Mr. T

“Currency is like God, it exists as long as people believe in it.”

― Abhijit Naskar

"It’s a fraud” and “worse than tulip bulbs” (speaking of cryptocurrency)

 – Jamie Dimon, CEO of JP Morgan Bank

"Before borrowing money from a friend it's best to decide which you need most."

---Joe Moore

Student Handout PDFRobin Hood

Photo: Mihail Nilov

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