UK Banking facing Judicial enquiry


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Message 1315823 - Posted: 16 Dec 2012, 0:13:12 UTC - in response to Message 1315812.

Don't you Brits also have trade embargoes against Iran?

Of course the British Government has.

Iran Sanctions

Well it seems that neither your government or mine is willing to take the individuals at HBSC to task for their nefarious deeds.
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Message 1316050 - Posted: 16 Dec 2012, 15:30:37 UTC

Nor for the vipers in the US Banking nests.

Problem is, as said earlier, the Banks are now too big to fail and the Tax Payer is open to take responsibility for deposits in Banks the do fail. That is where the Banks have the various Governments by the short and curlies, and the reason for no prosecutions.
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Message 1316056 - Posted: 16 Dec 2012, 15:38:53 UTC

You can't stop vulnerable entities like pension funds from investing in banks. If they get it right, they make a lot of money. If they get it wrong, like dozens of Councils throughout the UK did with the Icelandic banks, then the man in the street could suffer. How on earth do you legislate for that?

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Message 1316151 - Posted: 16 Dec 2012, 18:37:24 UTC - in response to Message 1316056.

You can't stop vulnerable entities like pension funds from investing in banks. If they get it right, they make a lot of money. If they get it wrong, like dozens of Councils throughout the UK did with the Icelandic banks, then the man in the street could suffer. How on earth do you legislate for that?


Doesn't the man on the street suffer when these banks help finance wars against your national interest?
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Message 1316191 - Posted: 16 Dec 2012, 19:33:29 UTC - in response to Message 1316151.

You can't stop vulnerable entities like pension funds from investing in banks. If they get it right, they make a lot of money. If they get it wrong, like dozens of Councils throughout the UK did with the Icelandic banks, then the man in the street could suffer. How on earth do you legislate for that?


Doesn't the man on the street suffer when these banks help finance wars against your national interest?

Which one can you pass a tax increase to cover? Bad pension fund loans or a war?

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Message 1316243 - Posted: 16 Dec 2012, 22:50:35 UTC - in response to Message 1316191.

You can't stop vulnerable entities like pension funds from investing in banks. If they get it right, they make a lot of money. If they get it wrong, like dozens of Councils throughout the UK did with the Icelandic banks, then the man in the street could suffer. How on earth do you legislate for that?


Doesn't the man on the street suffer when these banks help finance wars against your national interest?

Which one can you pass a tax increase to cover? Bad pension fund loans or a war?

Gary, a country can't afford to lose a war and in this case of money laundering the pension funds and a war are interwoven. The only way to reduce this behavior is that the people responsible personally suffer serious penalties.
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Message 1316377 - Posted: 17 Dec 2012, 9:54:13 UTC
Last modified: 17 Dec 2012, 9:55:20 UTC

In theory you could make pension funds have some sort of legally binding charter, where the trustees of a pension fund are not allowed to invest, more than a certain percentage of the funds in any one sector or company. If you like it's enforcing the "don't put all your eggs in one basket principle". Most of them have an portfolio investment strategy that spreads their risks anyway, but it could be regulated to protect the consumer.

Is not clear whether the UK Councils invested pension or reserve Capital in Iceland but the total exposure was thought to be around £840M. Public bodies should have the same requirements to place public funds where they can be underwitten by the Government on an Interbanking central fund. If you wish to invest your own spare cash in South Sea Groundut schemes that is your choice, Pension and public funds need to be protected.

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Message boards : Politics : UK Banking facing Judicial enquiry

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