ARmy Rumour SErvice

Originally Posted by wm1965

Another 40 or so banks will be involved in this and most will get fined, Barclays was the first - perhaps so they could get more lenient terms in settlement.

What you will likely find is the German banks (excluding DB) will get smacked super hard because they were 'manipulating more'.

I fully admit no great success with my own finances.

But from your previous posts you may be in a position to let me know where my logic falls down here?


If certain banks have had to repay the odd tens of millions, then if this had not been the case these millions would have become part of their profits, and distributed to shareholders, or bonuses or as they chose?

For someone to profit, someone must also lose, surely; with a fixed amount of money it cannot be win-win for eneryone?

If this is a few pence multiplied by a lota lotta people, the sum I did when a schoolboy comes to mind, that I could have retired at 14 years old if everyone in the UK then had just given me just a penny?

But some would have objected?

diamond has to go if he escapes jail or criminal prosecution he was the boss and when this was going down he was in charge of the people doing it.
The emails prove everybody at it knew it was dodgy as a dodgy thing so.
so claiming all the other banks were at it is no real defence.

The problem with locking up Tinshit and his palls, is that once you start you'll have no one left at the banks. The problem with that I suspect/know is that the banks are left with nobody or anybody who knows what to do? And that has a massive effect on all our pensions and investments.
If we are going to make an example of the top few then it has to be the same for all (at the top). Moreover, this will obviously be a political prosecution, given the amount of freedom that the government gave them to do their thing.

Originally Posted by Robbeaus

The problem with locking up Tinshit and his palls, is that once you start you'll have no one left at the banks. The problem with that I suspect/know is that the banks are left with nobody or anybody who knows what to do? And that has a massive effect on all our pensions and investments.
If we are going to make an example of the top few then it has to be the same for all (at the top). Moreover, this will obviously be a political prosecution, given the amount of freedom that the government gave them to do their thing.

There are plenty of people who can do what needs to be done in banks, and many are every day. The few at the middle top and the very top are the problem, get rid of them, you get rid of the bonus cluture and you get back to good old fashioned banking and investment management.

Do we need a world run by derivatives? Where simple problems like the Greek debt become too big to fail?

Well we are just about to give the go ahead to an even bigger banking catastrophe with the latest Euro summit, Merkel has just backed down and allowed the Banks to arrange their bailouts through the Central Bank without involving the Governments. If Germany now decides to have a referendum ...... well imagine the outcome.

I've used LIBOR countless times over the years in business when arranging inter-company and loans to employees.

This is because it's a number we could all agree on and trust.

Now it seems it was all part of a game so city traders can buy each other Bollinger at the end of the day and we've all been made to look mugs. OK I can still deal with that.

But the massive class action by US courts that will deplete these banks which we now own (like it or not we do via pension funds or bank bail outs) by 10s of billions caused by the reckless behaviour of our bankers is something we should not stand placidly by and accept.

This is a case of American litigiousity milking the already depleted British economy because of the lack of integrity of a few bankers.

These bankers should face prison if it is proven they gained personally from such manipulation, but we should prevent the legal band wagon bleeding our economy dry.

Originally Posted by Particle_man

caused by the reckless behaviour of our bankers is something we should not stand placidly by and accept.
These bankers should face prison if it is proven they gained personally from such manipulation, but we should prevent the legal band wagon bleeding our economy dry.

Ahhh, yers prison-for our greater and betters-no the concept of losing one's head for treason has long gone. oh the odd couple of months in an open prison at the very worst and the contacts to get one a Jorb after one's indiscretion. Now nick a few bob from DWP and your the arch criminal of the century

Oooooo look. "different recollections....."

Remember this was 2008 and the world is going to shit. Before being "saved" by a one eyed Scoxxxx idiot of course.

BBC News - What did Bank of England say to Barclays about Libor?