Barclays...
 

....sink to an all time low.

Serious and widespread misconduct according to the Financial services authority.

http://www.bbc.co.uk/news/business-18612279

Basically fiddling the figures and in turn general public for the benefit of their insider contacts, execs and traders.

Hopefully criminal proceedings will follow and those responsible get a king sized helping of porridge, or is it too much to hope for ?

Diamond giving up his bonus ?
Big of him I'm sure, when he should be helping pay the fine and facing the music.

Re: Barclays...
 

At least they aren't asking for a bailout:D

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And this follows closely on the heels of the RBS/Natwest fiasco which they are apparently now shamefully trying to blame a "junior, inexperienced" member of staff in India for. Whatever happened to "the buck stops here" when senior management are actually supposed to shoulder some responsibility in return for their obscenely large salaries not to mention the bonuses.

Bankers have shown themselves only fit to be considered as pariahs and not the little tin gods that Cameron appears to believe they are as he dances to their tune.

Re: Barclays...
 

If my memory serves me correctly they were very much Browns tin gods,wether or not they are Camerons, still remains to be seen.

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It appears this was only detected by the US regulators:

I think many of those in financial services are thieves in suits

Re: Barclays...
 

W BANKERS

Re: Barclays...
 

According to the latest BBC news almost all the big banks are in it up to their necks with this particular scam.
Criminal investigations and charges likely to follow.
They should lock a few of them up and throw away the key.
Unfortunately they'll probably all get off with a fine, so prepare yourselves for the next scam, as we know who ends up paying that.

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"Delincuentes de Cuello Blanco" or "Ladrones de cuello blanco" as the Spanish refer to them, white collared thieves.

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They haven't got everybody paid off from their miss sold insurance scam yet.
Wonder how many more the conniving bar stewards have up their sleeves ?

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Before we all sharpen the guillotine for all those horrible bankers, maybe we should remember that without the taxes the country gets from the City (bankers), we would all be skint.

Investment banking is where the big money is made, core banking makes next to nothing for the taxman.

But of course the top banking criminals should be brought to justice, we could cheer their downfall as we queue up at the soup kitchens.

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If you put the taxes on one side of the scales and the debts, bailouts and destruction of the economy etc. on the other side I wonder which way those scales would tip?

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String the ****ing lot of them up! I used to be fairly sympathetic to this lot because of the revenue they generated but this sort of thing just shows that until reforms are implemented the world will keep seeing the shit its wading through!

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I don't know the answer to that, but I did read that if we lose 10% of our tax income from the banking sector, it would equate to nine million more people becoming unemployed.

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http://live-blog.uk.msn.com/Event/Ba...t-rate_scandal

Well at least the sh!t is hitting the fan big time over their latest scam.

I used the expression miss sold,(mis sold), regarding their previous illegal scam relating to insurance, mainly because thats how it's generally referred to in news reports, but thinking on it further should they not be describing it for exactly what it is, deliberate, intentional fraud against the general public ?

The bwankers are obviously thinking that having got away scot free with so much for so long, they have little to worry about from the law.

Maybe they should be giving a few of them a generous serving of porridge for that sad affair also.

Re: Barclays...
 

...and even bigger money lost. Ever hear of a company called Lehmans?

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So when they get fined does the money go to the people who have been ripped off ??????

Re: Barclays...
 

Totally off topic but I just saw your pictures on your blog, nice pictures. Like the ones of Stody Lodge.

Re: Barclays...
 

Everyone realises that we need bankers, they are a necessary evil, but is it impossible for them to do their job without lying and cheating. They are all handsomely rewarded for what they do, I've never quite understood why they need such obscene bonuses to do the job well. "If you want the best, you have to pay the best" we've been told, so I guess we're lucky we didn't have any cr&p heading up our banking sector! One of the banking experts was saying last night that this latest scam will have certainly have been bonus driven, cheating and lying to get yet even bigger bonuses.

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Thank you. <blush>

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I drive past the place about 6 times a day. The other horticulture pics are nice as well.....

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Unfortunately I haven't had the opportunity to go to Stody Lodge for a few years now. Their rhododendron display is lovely.

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Now why is it I have had no time for the banks, the bankers, their people controlling the money market, their people controlling the loans, their people just controlling.

There are in real terms not many of them, they rely on thousands of front line staff to keep the peace but all they are is pariahs, out greedying (is that a word) their mates, colleagues, competitors.

at a much much lower scale, I knew a small private company where the directors used to vie with each other to see who made the most out of expenses each month. People would be horrified, so why should these people in banks get away with it.

Root and branch sort out, and take away the fast cars, they are not needed in this modern "crisis" world they are actually responsible for, taking their bonuses even when making a loss and expecting the little man in the street to cover them.
:thumbdown:
:frown:
:thumbdown:
:frown:

Re: Barclays...
 

Nice to see people are keeping on topic............

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I'd like to re acquaint you with a word... "Hypocrite"


Let me know if you would like me to explain it to you.

Re: Barclays...
 

I have a pension income from a private company, after paying contributions for many years. I get a monthly pension and a yearly copy of the pension funds accounts.

I've never really bothered with the yearly accounts, pages upon pages of meaningless figures to an outsider.

But I did notice that the fund is heavily invested in the 'safe' British banks and governments bonds, which is what you would expect from the fund managers charged with keeping the money safe.

So when the biggest banks get into trouble, I worry. I remember the Daily Mirror debacle, when Maxwell, the bouncing Czech, raided the company's pension funds.

All of a sudden, the pensioners were no longer paid. It took years and severe government intervention for them to get some of their money back.

I might agree that those criminal bankers should hear the swish of the guillotine, but not if it means that I no longer get my pension.

Re: Barclays...
 

I'm sorry to return to an earlier post, but it's a subject dear to my heart.

When Lehmans got into trouble, the US banks were prevented by the administration (George W Bush) from interfering.

Barclays thought otherwise and made a last-minute bid over the weekend to buy the company. It nearly succeeded until that clown, Bush, stopped it and sent the world into darkness.

There was no need for any of it, just one stupid man who didn't understand any of it.

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Look on the bright side.
If their heads roll, there should be millions of squids saved from their obscene bonuses to go towards your pension. :thumbsup:

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Yes, good points. Sometimes it is a case of be careful what you wish for. We are all shareholders in one way or another...wouldn't want to burn the house down to get rid of a rat:eek:

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And why were they in trouble? Could it have been that injudicious gambling, sorry investment banking, we're talking about?

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pot, kettle, black

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unlikely as they will be on contracts that will pay them squillions for termination of contract plus bonuses for the past and current financial year.

if we didnt have these parasites in our society the pension funds would be rolling in money instead of pleading poverty and changing the rules every couple of years.

wasnt it the Canadian Teachers Pension Fund that ditched their parasites and starting making a profit ??

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if you remember Maxwell then you will remember that it was said "This must never happen again"
so who let it ...............??
how many funds have gone bust, a guy I know has been hit twice by pension fund collapse.
the "watchdog" is a plastic toy, hasnt even got a squeek, letalone the guts to tear their limbs off and hit over the head with the soggy end.

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Business news this morning talking about this being the "tip of the iceberg" and praising Barclays for being "savvy" and coming out early!

Look out, here we go again!



Oh and Domino, shut up!

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Did Ian Fleming get it wrong??

Diamonds Are Forever

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With the funds he's already screwed from decent customers and likely squirrelled well away, I doubt if he'll ever be short of a bob or two or have much need for serious concern.

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Two days ago I asked for the surrender value on some insurance policies.
So far I have not received a reply.
They are probably trying to work out how much I owe them:thumbdown:

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Just heard an interview with Mervyn King who really tore strips of the banking system in general, from the various scams, crazy bonuses right through to shoddy customer service.
They seem content to have cut branch staff to an absolute minimum making it difficult for both customers and branch staff alike whilst creaming more funds for their big fat bonuses.
The most recent thing I've noticed with mine is I can no longer phone direct to one of my local staff but now have to go through some expensive rip off centralised call system first.
Greed in the extreme without caring a single toss about the inconvenience to those who pay their big fat salaries.

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Now there is a real hypocrite

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My experience of branch staff is based on poor to abysmal.
When I asked LTSB about an international acct the girl on reception seemed to go glazy eyed and said I don't know about that and moved on to the next customer.

I did some work at LTSB several years ago and they had Regional Centres then, nice expensive premium rate phone numbers, and all they could do was take a message - which never seemed to get through to the branch.

the only good thing is they give you a standard UK number when calling from abroad - which I used to use all the time when in the UK.

can you remind me why granny used to keep all her money in a box under the bed
:frown:

Re: Barclays...
 

isnt he the one who was supposed to oversee banking in the UK ??

is he due for re-election or something - or is he going to take his own nestegg and join all the Marbella expats ??