LOBO loans HackDay

Debt Resistance UKis a group of activists and researchers dedicated to challenging the idea that debt is inevitable and apolitical. We aim to shine a light on exploitative lenders in both the public and private spheres and take action to resist the transfer of wealth from the many to the few through the mechanism of debt.

Debt Resistance UK

Debt Resistance UK needs your help to investigate LOBO loans! Join us for a HackDay dedicated to gathering, analysing and making accessible data on how banks have been fleecing the public via toxic loans to Councils. So far we've uncovered that <A TARGET="_blank" HREF="http://lada.debtresistance.uk/debt-resistance-uk-investigation/who-are-the-major-borrowers-from-the-banks/" DATA-MSYS-CLICKTRACK="0" REL="nofollow noopener noreferrer">Councils in the UK have fallen prey to over £15bn of unfair loans from banks</A> like Barclays, RBS and DePfa. The lousy terms of these loans are placing extra strain on local authority finances at a time of huge cuts from central government.
Our research has led to coverage by <A TARGET="_blank" HREF="http://www.channel4.com/programmes/dispatches/on-demand/61629-001" DATA-MSYS-CLICKTRACK="0" REL="nofollow noopener noreferrer">Channel 4 Dispatches</A>, the <A TARGET="_blank" HREF="http://www.standard.co.uk/business/council-faces-probe-into-timebomb-lobo-loans-from-city-amid-cuts-in-children-s-services-a3199581.html" DATA-MSYS-CLICKTRACK="0" REL="nofollow noopener noreferrer">Evening Standard</A>, <A TARGET="_blank" HREF="http://www.independent.co.uk/news/business/news/sent-loco-by-lobos-the-great-council-loan-controversy-a6922286.html" DATA-MSYS-CLICKTRACK="0" REL="nofollow noopener noreferrer">Independent</A>, <A TARGET="_blank" HREF="http://www.ft.com/cms/s/0/3228336c-e6bf-11e5-a09b-1f8b0d268c39.html" DATA-MSYS-CLICKTRACK="0" REL="nofollow noopener noreferrer">FT</A> and <A TARGET="_blank" HREF="http://www.theguardian.com/uk-news/2016/mar/21/unite-amnesty-pre-devolution-scottish-council-debts" DATA-MSYS-CLICKTRACK="0" REL="nofollow noopener noreferrer">Guardian</A>. We want to arm local residents with the information they need to challenge these loans and resist profiteering at the expense of local democracy. We need help sifting through the data we've gathered from FOI requests, government statistics and financial statements to reveal the roles of bankers, city brokers and private consultants in constructing these awful deals. Anyone can help and all are welcome. We're particularly keen to hear from those with skills in data analysis, data visualisation, front-end web development and writing Freedom of Information requests. But do come along even without these skills. There will be easy tasks for all and people around to help.  We'll be there to help you investigate how much bank debt your local council has taken out and to explain how you can take action!
Do also get in touch if you would like to attend remotely, as we might be able to arrange for it.

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LOBO loans HackDay

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LOBO loans HackDay

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