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UK Banking facing Judicial enquiry
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Sirius B Send message Joined: 26 Dec 00 Posts: 24911 Credit: 3,081,182 RAC: 7 |
The "Special Relationship" at work: - Thank you US for backing up the UK! Tucker warns of an "Uncontainable Backlash" "Both Mr Tucker and Thomas Hoenig, a director of US regulator the Federal Deposit Insurance Corporation, hit back at the claims. Mr Hoenig said controls over bank structures, such as ringfencing, were vital. “We will have a crisis in the future. And the simpler the structure the better chance we have of managing that crisis and so we don’t have a global meltdown like we just experienced,†he said." Well stated Mr Hoenig |
Sirius B Send message Joined: 26 Dec 00 Posts: 24911 Credit: 3,081,182 RAC: 7 |
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Nick Send message Joined: 11 Oct 11 Posts: 4344 Credit: 3,313,107 RAC: 0 |
Oh dear, just what we didn't need to know..... If there's still questions regarding bank solvency in the UK then just how bad a state are the Europeans ones in...let me guess?....Oh dear, I can't use this nondescript word here...even uncle Sirius wouldn't dare use it...so best I don't use it then? So lets just say their up the Swanee!! The Kite Fliers -------------------- Kite fliers: An imaginary club of solo members, those who don't yet belong to a formal team so "fly their own kites" - as the saying goes. |
Sirius B Send message Joined: 26 Dec 00 Posts: 24911 Credit: 3,081,182 RAC: 7 |
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Nick Send message Joined: 11 Oct 11 Posts: 4344 Credit: 3,313,107 RAC: 0 |
Up this without a paddle.......... ....and in a leaky boat too... The Kite Fliers -------------------- Kite fliers: An imaginary club of solo members, those who don't yet belong to a formal team so "fly their own kites" - as the saying goes. |
Sirius B Send message Joined: 26 Dec 00 Posts: 24911 Credit: 3,081,182 RAC: 7 |
Oh boy, twice in one week! Gotta make sure I do the lottery tomorrow as every thing nice comes in 3's :) Inside the life of a banker "Mr Smith resigned in March in a resignation letter which was published in the New York Times and made the explosive claims that senior staff called their clients 'muppets.'" |
Nick Send message Joined: 11 Oct 11 Posts: 4344 Credit: 3,313,107 RAC: 0 |
Inside the life of a banker He ain't telling us nowt that we don't already know here. Muppets, the only Muppets left now are going to be those who shell-out and buy his book. Bankers, football players all the same and both have a ball in common. One lot have a ball, the other lot know how to play with it. The Kite Fliers -------------------- Kite fliers: An imaginary club of solo members, those who don't yet belong to a formal team so "fly their own kites" - as the saying goes. |
Sirius B Send message Joined: 26 Dec 00 Posts: 24911 Credit: 3,081,182 RAC: 7 |
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Sirius B Send message Joined: 26 Dec 00 Posts: 24911 Credit: 3,081,182 RAC: 7 |
Wanna be a criminal & make crime pay? Top 2 positions of 50..... At No 2: - Become a politician At No 1: - Become a banker, then you can do this & make Loadsa Moneeeee HSBC - The Criminals No 1 Bank A comment from the article says it all..... "Banks have to vet their customers yet governments can do business with anyone? its hypocracy not to mention the billions HMRC has written off for some of the worlds biggest companies because they bought them dinner" |
Sirius B Send message Joined: 26 Dec 00 Posts: 24911 Credit: 3,081,182 RAC: 7 |
Another reason to reign in the bonus culture..... Another rogue trader found guilty Ah not to worry, the banks will just put their charges up to recover their losses....... |
Terror Australis Send message Joined: 14 Feb 04 Posts: 1817 Credit: 262,693,308 RAC: 44 |
Another rogue trader found guilty I wonder. Was he really a "Rogue Trader" or just the scapegoat for when the bank bet on heads but flipped tails ? If they had won the $2.3bn instead of losing it would he have still been crucified ? T.A. |
Gary Charpentier Send message Joined: 25 Dec 00 Posts: 31006 Credit: 53,134,872 RAC: 32 |
http://www.foxbusiness.com/business-leaders/2012/12/11/uk-makes-three-arrests-in-libor-probe/?intcmp=obnetwork Britain's Serious Fraud Office (SFO) has made the first arrests as part of a global investigation into the manipulation of interbank lending rates. |
betreger Send message Joined: 29 Jun 99 Posts: 11415 Credit: 29,581,041 RAC: 66 |
http://www.foxbusiness.com/business-leaders/2012/12/11/uk-makes-three-arrests-in-libor-probe/?intcmp=obnetwork HSBC announced on Tuesday that it had agreed to a record $1.92 billion settlement with authorities. It seems no criminal charges will follow for the admitted money laundering. A few of years of incarceration would also be appropriate. |
John Clark Send message Joined: 29 Sep 99 Posts: 16515 Credit: 4,418,829 RAC: 0 |
See today's fine on HSBC by the Yanks? Assuming the States regulators can substantiate the accusation, and £1.5 billion fine, then they deserve this outcome. It's good to be back amongst friends and colleagues |
betreger Send message Joined: 29 Jun 99 Posts: 11415 Credit: 29,581,041 RAC: 66 |
Internal emails substantiated the charges and I still want criminal prosecution. Relative to the size of the bank the fines are small. The potential damages to your and my country are criminal felonies and deserve hard time. |
Gary Charpentier Send message Joined: 25 Dec 00 Posts: 31006 Credit: 53,134,872 RAC: 32 |
Internal emails substantiated the charges and I still want criminal prosecution. Relative to the size of the bank the fines are small. The potential damages to your and my country are criminal felonies and deserve hard time. Citizens United. By all means put the company in prison. If you or I go to prison they don't let us continue to do business. Same for HSBC. Bankrupt and let the investors fork up the cash for the criminal fine. Frankly they are too afraid of too big to fail institutions. Well, break them up into chunks. Nothing should ever be allowed to get too big to fail, because it will happen then. |
Gary Charpentier Send message Joined: 25 Dec 00 Posts: 31006 Credit: 53,134,872 RAC: 32 |
Frankly they are too afraid of too big to fail institutions. Why are pension funds permitted to invest in companies that commit felonies and must go down the plughole because of it? Shouldn't the pension fund managers be prosecuted for making such investment choices? After all committing a felony isn't an ordinary business risk, it is an overt choice. Where is the due diligence of the fund managers? Dump it like a hot potato the moment this kind of thinking starts in management. Feet to the fire! |
betreger Send message Joined: 29 Jun 99 Posts: 11415 Credit: 29,581,041 RAC: 66 |
Gary, there are people in HSBC who aided countries and drug cartels who are overtly doing acts of war against the US. Those HSBC people belong in jail. |
Gary Charpentier Send message Joined: 25 Dec 00 Posts: 31006 Credit: 53,134,872 RAC: 32 |
Gary, there are people in HSBC who aided countries and drug cartels who are overtly doing acts of war against the US. Those HSBC people belong in jail. Are any of them US citizens? Did they do the acts on US soil? Does USA law apply to them? Sort of like Mr. Assange. |
betreger Send message Joined: 29 Jun 99 Posts: 11415 Credit: 29,581,041 RAC: 66 |
Yes, there were Americans involved on this side of the pond. I don't recall his name, but he was the chief operating officer over here. Emails exist showing him complaining to his boss in England and the response he got was the US was being too overbearing concerning money laundering and to shut up. As for US law HBSC in the settlement concedes US law does apply. Part of the settlement is that if the bank stays clean for 5 years no criminal charges will be brought. |
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