Bl***y Banks Again

IT IS BEING SAID THAT FOREX TRADING WILL BE A BIGGER SCANDAL THAN LIBOR.
WONDER HOW IT GOING TO PAN OUT.

Badboy wrote:IT IS BEING SAID THAT FOREX TRADING WILL BE A BIGGER SCANDAL THAN LIBOR.
WONDER HOW IT GOING TO PAN OUT.

Britain had a very good record for honest banking Badboy, not now , and the FSA seems powerless to do anything . The Banks have no shame about continuing to pay themselves big bonuses . Not one Board Member of a Bank has been charged and convicted. Occupy Wall Street looked as though it could change things but it was smothered , shame.

RBS HAS BEEN REDUCED TO JUNK BOND STATUS.

http://news.sky.com/story/1231769/govt-to-sell-off-4-2bn-in-lloyds-bank-shares

Let's hope they don't undersell like they did with the Post Office.!!!

CO-OP BANKS WILL HAVE MAKE MORE PROVISION I BELIEVE FOR MISSELLING.

Badboy wrote:CO-OP BANKS WILL HAVE MAKE MORE PROVISION I BELIEVE FOR MISSELLING.

The way things are going Badboy, I wouldn't be surprised to see the Co-op Bank being sold.

http://www.telegraph.co.uk/finance/personalfinance/investing/10724567/FTSE-100-is-trading-at-9000-How-Santander-mis-sold-investments.html


Just what is going on with the FSA ????? Is there no monitoring of Banks before they are given a Licence???

The Co-op for the second time has delayed publishing it's Accounts, doesn't augur well for any recovery.

The Total amount Banks paid out for all the fines is a staggering £28 BILLION.....yet they pay a pittance in interest on accounts . !!! Has any Director or Chairman been forced to resign? NO Has any Director been jailed NO it is an utter disgrace.

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10750173/Barclays-settles-Libor-test-case-weeks-ahead-of-trial.html


Barclays settles Libor 'test case' weeks ahead of trial
Barclays signs a settlement with a care home operator weeks ahead of trial that would have seen current and former executives give evidence in a trial linked to lender's involvement in Libor-rigging
Branch of Barclays in central London
Barclays has settled a lawsuit that would have seen several of its senior former executives give evidence at a High Court trial in London Photo: PA
Harry Wilson By Harry Wilson, Banking Editor5:08PM BST 07 Apr 2014
Barclays has avoided an embarrassing High Court trial over claims its senior executives were aware of attempts to rig Libor after reaching a multi-million pound settlement with a care home over the alleged mis-sale of interest rate derivatives.
Barclays has agreed a settlement with Guardian Care Homes worth about £40m to avoid a trial later this month that would have seen several current and former managers of the bank, including former chief executive, Bob Diamond, give evidence at the London High Court.
Graiseley Properties, the parent of Guardian, has dropped a claim against Barclays that had been described as a “Libor test case” just weeks ahead of the opening of the trial scheduled for April 29.
In a statement the company said: “In order to support the ongoing viability of Graiseley’s care home business, the parties have signed a restructuring of Graiseley’s debt. This reflects the impact of changes in conditions to the sector over the past few years. Graiseley has withdrawn the litigation.”
Barclays had been prepared to fight the case and is estimated to have run up a legal bill of at least £11m defending itself in what was expected to be a closely-watched trial with implications for potentially thousands of business sold complex interest rate derivatives by their lenders.
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Before the settlement, which is understood to have been signed on Friday, the lawsuit had already seen 104 current and former Barclays employees named in documents linked to the case lose a court fight to keep their identities secret, as well as the revelation that an investment fund run by Barclays had benefited directly from lower rates of sterling Libor.
The trial would have seen Mr Diamond, former co-heads of Barclays’s investment banking arm, Rich Ricci and Jerry del Missier, former finance director Chris Lucas, as well as former traders and Libor submitters at the lender take the stand as witnesses to give evidence on their knowledge of the bank’s involvement in interest rate rigging.
The case led to the discovery of a new cache of potential evidence on the bank’s role in Libor manipulation that was not available to the authorities in the UK and US at the time of its original June 2012 £290m settlement.
Barclays had tried to have the Libor element of Guardian’s case ruled out and last year took the case to the Court of Appeal in an attempt to block the claims over the links between its involvement in rigging interest rates and the potential impact on interest rate swaps.
However, the court ruled against the bank in November and upheld Guardian’s right to use Libor-rigging as part of its claim that Barclays had improperly sold it a series of interest rate hedging products linked to loans taken out with the bank.
Despite that setback, Barclays had maintained that the case was “without merit” and said it intended to fight the claims. Barclays had countersued Guardian for £87m consisting of the repayment of loans taken out by the care home company as well as the cost of cancelling its interest rate swaps.
In February, Guardian hired US law firm Hausfeld LLP to represent it. Hausfeld, a specialist in large class action lawsuits, took the case on a no-win-no-fee basis, upping the ante ahead of the trial.
Three former Barclays employees, Peter Johnson, Jonathan Mathew, and Stylianos Contogoulas, have been charged by the Serious Fraud Office over allegations they were involved in attempts to rig interest rates.

COOP BANK 1.3 BILLION IN RED

http://news.sky.com/story/1243695/co-op-to-unveil-2-5bn-losses-as-crisis-deepens

There is to be an investigation of the Board of the Co-Op because it is owned by every card holder effectively. There is much disappointment by the public especially the people of Rochdale . My guess is it will sell off what's left of the Bank , Lord Myners resigned the other day because he was brought in to investigate and stabilise but the Board rejected his plan.

44 RBS BRANCHES HAVE BEEN SHUT BECAUSE OF A LACK OF DEMAND.

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10776563/RBS-may-sue-over-claims-bank-deliberately-undermined-SMEs.html


More likely RBS had them earmarked for shutdown Badboy, it was not long ago they published a list of banks to close, probably couldn't get a buyer becuse of RBS reputation.

Panda wrote:http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10776563/RBS-may-sue-over-claims-bank-deliberately-undermined-SMEs.html


More likely RBS had them earmarked for shutdown Badboy, it was not long ago they published a list of banks to close, probably couldn't get a buyer becuse of RBS reputation.

RBS TO SUE!,BRING IT ON! I SAY

Badboy wrote:

Panda wrote:http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10776563/RBS-may-sue-over-claims-bank-deliberately-undermined-SMEs.html


More likely RBS had them earmarked for shutdown Badboy, it was not long ago they published a list of banks to close, probably couldn't get a buyer becuse of RBS reputation.

RBS TO SUE!,BRING IT ON! I SAY

I think it is just sabre rattling Badboy, RBS have been fined millions for irregularities both by the US and UK and they are scratching around looking to make some money.they are closing down several small Branches and their share price has gone down a lot.

I READ SOMEWHERE ABOUT 17%,METHINKS,HAVE CHANGED THEIR BANKS SINCE IT WAS EASIER TO SWITCHED,NATIONWIDE,I THINK, HAS BEEN MAIN BENEFITARIES OF THE SERVICE.

Badboy wrote:I READ SOMEWHERE ABOUT 17%,METHINKS,HAVE CHANGED THEIR BANKS SINCE  IT WAS EASIER TO SWITCHED,NATIONWIDE,I THINK, HAS BEEN MAIN BENEFITARIES OF THE SERVICE.

I'm not surprised Badboy none of these errant Bank Officers have been charged and jailed , nor have they agreed to forfeit their bonuses for the next 10 years.

IN SPAIN A SO CALLED `ROBIN HOOD' IS ON THE RUN AFTER BORROWING MONEY FROM BANKS,THEN GIVING MONEY TO ANTI-CAPALISTS AND/OR SOCIAL ENTERPRISES.

Badboy wrote:IN SPAIN A SO CALLED `ROBIN HOOD' IS ON THE RUN AFTER BORROWING MONEY FROM BANKS,THEN GIVING MONEY TO ANTI-CAPALISTS AND/OR SOCIAL ENTERPRISES.

Makes a change Badboy   Rumour has it Santander is in trouble financially .

http://www.telegraph.co.uk/finance/newsbysector/epic/barc/10784544/Barclays-warns-on-profits-ahead-of-annual-meeting.html


And they had the nerve to still pay out bonuses ???

I COULDN'T CONTACT M RBS BRANCH TODAY,HOPEFULLY THEY HAVEN'T SHUT THE BRANCHE DOWN.
I THOUGHT I READ SOMETHING TODAY ABOT RBS,CAN'T REMEMBER WHAT THEY SAID.
LABOUR HAVE CLOSED THEIR COOP BANK ACCOUNTY.