Barclays LIBOR Scandel

#26
#26
If nobody goes to jail over this then it just shows how much the banking and wall street money really owns this country.

It just doesn't get more clear cut than this.
 
#27
#27
rjd970 said:
If nobody goes to jail over this then it just shows how much the banking and wall street money really owns this country.

It just doesn't get more clear cut than this.
Click to expand...


I'll be very surprised if anyone actually goes to jail, and stunned if anyone does for more than a couple of months.

Rob a man with a gun and you go away for 10 years. Rob him via manipulating trades to take money out of his retirement account and you have to leave with your $10 million golden parachute.
 
#30
#30
rjd970 said:
If nobody goes to jail over this then it just shows how much the banking and wall street money really owns this country.

It just doesn't get more clear cut than this.
Click to expand...

It will happen. British regulators are moving at roughly the same pace as a drunken sloth but thats nothing new.
 
#31
#31
Velo Vol said:
Since large international banks are involved, I'm sure the Fed monitors developments, but I assume that the regulators on the ground are U.K.
Click to expand...

The Fed IS a large privately owned international bank.

thingamajig.jpg


HSBC scandal: Britain's biggest bank let drug gangs launder millions - and faces a £640million fine | Mail Online

US Senators accuse HSBC of ‘letting Mexican gangs launder $7 billion and working with Saudi bank linked to terrorism’ * HSBC moved huge sum from Mexico into the U.S. between 2007 and 2008 * Provided services for Saudi Arabia’s Al Rajhi Bank linked to financing terrorism * Senate investigation suggests they also moved money tied to Iran * Accuses bank of ‘pervasively polluted’ culture * Another hammer blow to the credibility of British banking system after Barclays was fined for allegedly rigging LIBOR interest rate HSBC has been accused of handling money from Mexican drugs cartels and working alongside ... (islamo/fascist terrorists)
Click to expand...

dilbert_0.gif
 
#36
#36
Velo Vol said:
The best way to rob a bank is to own it.
Click to expand...

No one cares. I find this to be a pretty big deal. Exihibit A on how money and lobbies control the electorate. If it were another industry there would be prison terms. Instead, a chief executive gets a nice payout and presidential candidates get donations, and plenty of people got paid, basically cheating and griping about how much taxes they have to pay on what they stole after the fact.

But who cares right? We have a 350 post thread about chik fil a to worry about. SMDH.
 
  • Like
Reactions: 1 person
#37
#37
rjd970 said:
No one cares. I find this to be a pretty big deal. Exihibit A on how money and lobbies control the electorate. If it were another industry there would be prison terms. Instead, a chief executive gets a nice payout and presidential candidates get donations, and plenty of people got paid, basically cheating and griping about how much taxes they have to pay on what they stole after the fact.

But who cares right? We have a 350 post thread about chik fil a to worry about. SMDH.
Click to expand...

Preach on brother.
 
#38
#38
rjd970 said:
No one cares. I find this to be a pretty big deal. Exihibit A on how money and lobbies control the electorate. If it were another industry there would be prison terms. Instead, a chief executive gets a nice payout and presidential candidates get donations, and plenty of people got paid, basically cheating and griping about how much taxes they have to pay on what they stole after the fact.

But who cares right? We have a 350 post thread about chik fil a to worry about. SMDH.
Click to expand...
Big part of why I stopped taking this forum seriously.
 
#40
#40
HSBC takes $2 billion hit for U.S., UK scandals | Reuters

The Senate report criticized a "pervasively polluted" culture at the bank and said HSBC's Mexican operations had moved $7 billion into its U.S. operations between 2007 and 2008.

"The firm clearly lost its way in this regard and it's right that we apologize," said Gulliver. "Colleagues internally have been aware that this is the backdrop of why we had to change the firm."
Click to expand...

Well, as long as you apologize every time something like this happens.

"And the news is still coming out - we have yet to see the impact, if any, of the Libor investigation and HSBC's role in that. It's hard to see how much more bad news the markets can take," said the investor, who asked not to be named.
Click to expand...

The bank said it could clawback some past bonuses from staff involved in the problem, but declined to comment if that could include former Chief Executive Michael Geoghegan
Click to expand...
.

As long as the guy at top gets paid, probably has political payrolls to meet.
 
#41
#41
rjd970 said:
No one cares. I find this to be a pretty big deal. Exihibit A on how money and lobbies control the electorate. If it were another industry there would be prison terms. Instead, a chief executive gets a nice payout and presidential candidates get donations, and plenty of people got paid, basically cheating and griping about how much taxes they have to pay on what they stole after the fact.

But who cares right? We have a 350 post thread about chik fil a to worry about. SMDH.
Click to expand...

I suspect someone will go to jail over this and it will get up to those who drove the train.
 
#42
#42
rjd970 said:
And this is exactly one of the reasons there is little doubt any kind of punishment with teeth will be brought down on those involved.

Romney to Fundraise with London Bankers Implicated in LIBOR Scandal | Daily Ticker - Yahoo! Finance

This is part of the problem.
Click to expand...


Could this be the reason Romney was not going to allow the media to attend the event ?

The last I heard was the campaign changed their mind and would let the media attend but would have to leave before Romney started taking any questions from the attendees?
 
#44
#44
Gramps said:
Could this be the reason Romney was not going to allow the media to attend the event ?

The last I heard was the campaign changed their mind and would let the media attend but would have to leave before Romney started taking any questions from the attendees?
Click to expand...

Who knows. Nothing surpirses me at this point.
 
#46
#46
milohimself said:
The Brits may work with the pace of a turd rolling down a 4% grade, but their regulators are less bashful about actually having bankers get arrested when they break the law than ours.
Click to expand...

When this inevitably comes back across the pond Im betting nothing happens to the perpetrators here.
 
#48
#48
I don't blame him for being skeptical of bankers actually getting arrested on US soil for breaking the law. But I think it will happen as well.
 
  • Like
Reactions: 1 person
#49
#49
Boston Review — Omer Rosen: I, Too, Have Messed with LIBOR


After my first reflection on my time at Citigroup was published, the company issued the following statement:

The allegations of this former employee, who last worked at Citi seven years ago, are unfounded and any implication that unethical behavior is accepted or rewarded by the firm is completely without merit. Citi strives to create the best outcome for its clients through conduct that is transparent, prudent and dependable.

For a bank to say this in the wake of the financial crisis seemed disingenuous at best. Now it just sounds laughable.
Click to expand...
 
#50
#50
BigPapaVol said:
why? As soon as the names and faces are public, the complicit regulators will have no choice.
Click to expand...

That is the way it is supposed to work, I agree. I doubt how public specific names will be, and what political pressure will really be brought to bear.

Obama, Romney, Dem Party, Repub Party are too dependent on the financing power heavy hitting brokers provide to bite with any real teeth.

Mark it down, if names and faces do come out, it will be made out to be a small group rogue of individuals who were fired. No need to crucify those at the top that had no hand in it.
 
New posts
You must log in or register to reply here.

VN Store



Back
Top