Smash EDO are calling for autonomous actions against Barclays Bank to force them to stop providing ‘market maker’ services for ITT Corporation on the NYSE. By performing marker services for ITT Barclays Bank are profiting from EDO’s complicity in civilian deaths in Palestine, Afghanistan and Iraq. Barclays are the largest UK investor in the global arms trade. Bankers and institutional investors are the glue that finances the state terror wreaked by the arms trade.
Companies like EDO do not operate in a vacuum but are propped up by the networks of corporations and investors which constitute the global capitalist system which puts profit before peace, greed before people.
A flyer is available to use on your local demonstrations.
Barclays Capital are the New York Stock Exchange (NYSE) market maker for ITT Exelis. ITT Exelis own EDO MBM.
There is an ongoing campaign of direct action against EDO MBM and ITT Exelis aimed at persuading the company to stop producing weapons components in Brighton. EDO’s components are used by the US and UK in Iraq and Afghanistan and Israel in Palestine.
As ITT Exelis’ market maker, Barclays act as a middle man, purchasing shares from a seller and holding them until such a time as a buyer becomes available. This ensures the stability of Exelis’ share price by allowing shareholders to sell off their assets at any time, even when a a buyer is not immediately available, and vice versa. Barclays also profits from this enterprise by selling Exelis’ shares at a small markup, which nevertheless generates considerable income when spread across large sales.
For more information on ‘market makers’ click here.
Barclays are the largest UK investor in the arms trade. For more information on Barclays Bank’s arms trade investments see War on Want’s report, ‘Banking on Bloodshed‘
For other details see Smash EDO’s news page or email smashedo@riseup.net You can report your actions (securely) at www.indymedia.org.uk
Smash EDO are calling for groups to take autonomous actions against Barclays until Barclays cease providing market Maker services to ITT.
For more info about the Target Barclays campaign read Indymedia’s ‘Antimilitarists Take on Barclays‘
Press Enquiries
Call Andrew Beckett or Chloe Marsh on 07754135290 or email smashedopress@riseup.net
