UK Banking facing Judicial enquiry

Message boards : Politics : UK Banking facing Judicial enquiry
Message board moderation

To post messages, you must log in.

Previous · 1 · 2 · 3 · 4 · 5 · 6 · 7 · Next

AuthorMessage
Sirius B Project Donor
Volunteer tester
Avatar

Send message
Joined: 26 Dec 00
Posts: 24615
Credit: 3,081,182
RAC: 7
Ireland
Message 1261225 - Posted: 16 Jul 2012, 19:22:30 UTC

Interesting article.............

Del Missier "Instructed" by Diamond

The way this is headed... the question is going to be...

"Whose truth is going to be believed"
ID: 1261225 · Report as offensive
Sirius B Project Donor
Volunteer tester
Avatar

Send message
Joined: 26 Dec 00
Posts: 24615
Credit: 3,081,182
RAC: 7
Ireland
Message 1261821 - Posted: 18 Jul 2012, 13:40:04 UTC - in response to Message 1261767.  

Just goes to show that big corporations are only interested in the "here & now" as history has already proven.

2 major examples were Standard Oil & IT&T during WWII.

This scandal is going to get a lot worse the deeper the investigation digs.
ID: 1261821 · Report as offensive
Sirius B Project Donor
Volunteer tester
Avatar

Send message
Joined: 26 Dec 00
Posts: 24615
Credit: 3,081,182
RAC: 7
Ireland
Message 1262175 - Posted: 19 Jul 2012, 11:01:15 UTC - in response to Message 1261821.  


This scandal is going to get a lot worse the deeper the investigation digs.


Someone else thinks the same.....

How big could the Libor scandal get?

"Already, the Serious Fraud Office has seemingly reversed course and opened a criminal investigation into Libor.

Could this be the beginning of a much more aggressive exposure of the misbehaviour of bankers during the last decade, going well beyond Libor?"

ID: 1262175 · Report as offensive
Nick
Avatar

Send message
Joined: 11 Oct 11
Posts: 4344
Credit: 3,313,107
RAC: 0
United Kingdom
Message 1262237 - Posted: 19 Jul 2012, 16:26:53 UTC - in response to Message 1262175.  


This scandal is going to get a lot worse the deeper the investigation digs.


Someone else thinks the same.....

How big could the Libor scandal get?

"Already, the Serious Fraud Office has seemingly reversed course and opened a criminal investigation into Libor.

Could this be the beginning of a much more aggressive exposure of the misbehaviour of bankers during the last decade, going well beyond Libor?"


All amounts to what I said in one of my first postings regarding this scandle.

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.
ID: 1262237 · Report as offensive
Sirius B Project Donor
Volunteer tester
Avatar

Send message
Joined: 26 Dec 00
Posts: 24615
Credit: 3,081,182
RAC: 7
Ireland
Message 1264437 - Posted: 26 Jul 2012, 14:21:13 UTC

After 4 years of dithering, they're only now realising what we knew from the start?

Banks are too big

If the Libor scandal hadn't broke, you can take it to the bank that nothing would have changed & the snouts at the troughs would still be supping!
ID: 1264437 · Report as offensive
Nick
Avatar

Send message
Joined: 11 Oct 11
Posts: 4344
Credit: 3,313,107
RAC: 0
United Kingdom
Message 1264452 - Posted: 26 Jul 2012, 15:27:54 UTC - in response to Message 1264437.  
Last modified: 26 Jul 2012, 15:29:14 UTC

[quote]After 4 years of dithering, they're only now realising what we knew from the start?

Banks are too big

I disagree, Sirius, it's not that the banks are too big but that those employed
to regulate them do not have the nous to do it effectively. Governments should
not interfere with business, something they have shown over many years not to
understand. The UK banking sector needs someone skilled to regulate it,
someone with the experience of high level banking who understands all it's
faculties and who instinctively knows what's right with it and also what's
wrong with it. Guess who that person should be? yes you've got it, Bob Diamond...
... it takes a thief to catch a thief... and in this business that is what is
needed to regulate it without stemming it's business potential.

Some reports in the media state that we don't have enough banks, well we do have
22 UK registered banks, I should think this is enough. What do these pundits
suggest as a minimum quantity of banks? 30, 40, 50 or more. So lets go back to
the old days then and have 250 like there was in 1900. Every time a recession
occurred so it would be accompanied by a quantity of bank failures. We want
to cure banking problems not create a load more of them.
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.
ID: 1264452 · Report as offensive
Sirius B Project Donor
Volunteer tester
Avatar

Send message
Joined: 26 Dec 00
Posts: 24615
Credit: 3,081,182
RAC: 7
Ireland
Message 1264456 - Posted: 26 Jul 2012, 15:33:48 UTC - in response to Message 1264452.  

Fair point Nick...but then again.."Who watches the Watchers?"
ID: 1264456 · Report as offensive
Profile John Clark
Volunteer tester
Avatar

Send message
Joined: 29 Sep 99
Posts: 16515
Credit: 4,418,829
RAC: 0
United Kingdom
Message 1264458 - Posted: 26 Jul 2012, 15:38:30 UTC

Banking regulations should guarantee customer deposits in retail banking, and have no guarantees on deposits for all other banking activities. Hitting the balance sheets with risky short term activities and the shareholders will sort out the management team(s)
It's good to be back amongst friends and colleagues



ID: 1264458 · Report as offensive
Nick
Avatar

Send message
Joined: 11 Oct 11
Posts: 4344
Credit: 3,313,107
RAC: 0
United Kingdom
Message 1264468 - Posted: 26 Jul 2012, 15:59:53 UTC - in response to Message 1264456.  
Last modified: 26 Jul 2012, 16:00:26 UTC

Fair point Nick...but then again.."Who watches the Watchers?"

Well, who judges the judges? other judges using legislative guidance and pure
common sense. Draw-up sensible legislation to protect the retail banking side
and for the commercial side making sure debt liabilities are covered by assets.
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.
ID: 1264468 · Report as offensive
Sirius B Project Donor
Volunteer tester
Avatar

Send message
Joined: 26 Dec 00
Posts: 24615
Credit: 3,081,182
RAC: 7
Ireland
Message 1264483 - Posted: 26 Jul 2012, 16:34:23 UTC - in response to Message 1264468.  

Fair point Nick...but then again.."Who watches the Watchers?"

Well, who judges the judges? other judges using legislative guidance and pure
common sense. Draw-up sensible legislation to protect the retail banking side
and for the commercial side making sure debt liabilities are covered by assets.


You've said the magic words!

But the issue now is that all the best "magicians" are dead......maybe "Dynamo" could save them?
ID: 1264483 · Report as offensive
Iona
Avatar

Send message
Joined: 12 Jul 07
Posts: 790
Credit: 22,438,118
RAC: 0
United Kingdom
Message 1265174 - Posted: 28 Jul 2012, 12:11:56 UTC

Hmmm. Not so much reward for failure, as we are used to in the UK, more like rewarded for committing fraud....a criminal activity. The 'Public Sector', is often slated for waste and mismanagement, but when it comes to the 'Private Sector' (those that line the pockets of the Fasci...sorry, Tory party), comparively little, if anything, is ever said. Interesting. Even more interesting, is that, virtually nothing will be done about the 'criminal practices' of the 'Private Sector'; nothing ever will be done, either. Might I dare to suggest, that the real problem with finances in the UK, is that the 'private sector' has been able to 'pass the buck' to the 'public sector'...never mind the insane 'costs' that the private sector claim. Bankers? Sack them! The whole damned lot. Watch out, if I ever come to 'power'!!!!



Don't take life too seriously, as you'll never come out of it alive!
ID: 1265174 · Report as offensive
Sirius B Project Donor
Volunteer tester
Avatar

Send message
Joined: 26 Dec 00
Posts: 24615
Credit: 3,081,182
RAC: 7
Ireland
Message 1266403 - Posted: 1 Aug 2012, 12:42:32 UTC

Funding for Lending introduced

The rich helping the rich again. Only those who can afford a 40% deposit can use this scheme, while the national loan scheme will be wound down.
ID: 1266403 · Report as offensive
Sirius B Project Donor
Volunteer tester
Avatar

Send message
Joined: 26 Dec 00
Posts: 24615
Credit: 3,081,182
RAC: 7
Ireland
Message 1268133 - Posted: 5 Aug 2012, 23:48:14 UTC

interesting reforms.....

Barclays plan radical reforms

That "downgrade" looks good....might make them perform in the best interests of both themselves & the customers...

...we'll see.....
ID: 1268133 · Report as offensive
Sirius B Project Donor
Volunteer tester
Avatar

Send message
Joined: 26 Dec 00
Posts: 24615
Credit: 3,081,182
RAC: 7
Ireland
Message 1273977 - Posted: 22 Aug 2012, 15:14:07 UTC

A reverse Nigerian Scam? Poor Africa....Barclays have to recover their losses somehow.....

Barclays to speed up their growth plans

Hmmn, wonder how quick will the other disgraced banks join in the "African Gold Rush"?
ID: 1273977 · Report as offensive
Nick
Avatar

Send message
Joined: 11 Oct 11
Posts: 4344
Credit: 3,313,107
RAC: 0
United Kingdom
Message 1274262 - Posted: 23 Aug 2012, 7:03:38 UTC - in response to Message 1266403.  

Funding for Lending introduced

The rich helping the rich again. Only those who can afford a 40% deposit can use this scheme, while the national loan scheme will be wound down.


How much money do you need to have to be classed as rich, Sirius? 40% of the
average price of a house, currently around £166,ooo, equates to £66,400.
If you think your rich with that amount of money in your pocket then your
"Sirius'ly" mistaken.


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.
ID: 1274262 · Report as offensive
Sirius B Project Donor
Volunteer tester
Avatar

Send message
Joined: 26 Dec 00
Posts: 24615
Credit: 3,081,182
RAC: 7
Ireland
Message 1274618 - Posted: 23 Aug 2012, 22:42:51 UTC - in response to Message 1274262.  

Tell that to the young newlyweds attempting to get on the housing ladder. I'm pretty sure that they'll think £66k will be a bit rich for their blood.
ID: 1274618 · Report as offensive
Nick
Avatar

Send message
Joined: 11 Oct 11
Posts: 4344
Credit: 3,313,107
RAC: 0
United Kingdom
Message 1274797 - Posted: 24 Aug 2012, 9:26:02 UTC - in response to Message 1274618.  

Tell that to the young newlyweds attempting to get on the housing ladder. I'm pretty sure that they'll think £66k will be a bit rich for their blood.


Now we see the one big problem behind all this banking fiasco....too much easy
credit so forcing asset prices up way too high.


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.
ID: 1274797 · Report as offensive
Sirius B Project Donor
Volunteer tester
Avatar

Send message
Joined: 26 Dec 00
Posts: 24615
Credit: 3,081,182
RAC: 7
Ireland
Message 1288818 - Posted: 28 Sep 2012, 14:33:17 UTC

Well, it's a start, but can it be truly enforced?

Libor riggers should be prosecuted

"In a stinging criticism of the BBA, Mr Wheatley said it was "careless" in its approach to policing Libor and put too much trust in a system that "did not have the right level of checks and balances in place".

A dumbass commoner states that & is castigated, yet an educated "ejit" states it & its published & accepted.....Charming to say the least.
ID: 1288818 · Report as offensive
Nick
Avatar

Send message
Joined: 11 Oct 11
Posts: 4344
Credit: 3,313,107
RAC: 0
United Kingdom
Message 1289895 - Posted: 1 Oct 2012, 1:21:55 UTC - in response to Message 1288818.  
Last modified: 1 Oct 2012, 1:24:17 UTC

Well, it's a start, but can it be truly enforced?

Libor riggers should be prosecuted

"In a stinging criticism of the BBA, Mr Wheatley said it was "careless" in its approach to policing Libor and put too much trust in a system that "did not have the right level of checks and balances in place".



Martin Wheatley: System built on "flawed incentives, incompetence and the pursuit of narrow interests"...
...So we know where the Libor lot got this trait from...studying politicians
for their past-masters at this...Politicians, a bastion of incompetence.
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.
ID: 1289895 · Report as offensive
Sirius B Project Donor
Volunteer tester
Avatar

Send message
Joined: 26 Dec 00
Posts: 24615
Credit: 3,081,182
RAC: 7
Ireland
Message 1294162 - Posted: 12 Oct 2012, 12:07:55 UTC

More damning evidence of incompetence....

Turner calls for unconventional policies

"The financial crisis of 2008 was "not a bolt from the blue," he said.

It arose from poor supervision, from bad rules and structures, from dangerous cultures - and the errors were made by regulators, economists, central bankers and public policy makers, as well as bankers themselves."

Nothing new then from the "Last Gasp Saloon".
ID: 1294162 · Report as offensive
Previous · 1 · 2 · 3 · 4 · 5 · 6 · 7 · Next

Message boards : Politics : UK Banking facing Judicial enquiry


 
©2022 University of California
 
SETI@home and Astropulse are funded by grants from the National Science Foundation, NASA, and donations from SETI@home volunteers. AstroPulse is funded in part by the NSF through grant AST-0307956.