The Large One
Who's Next?
Even more bizarre is that Marcus Agius, who resigned as chairman yesterday, is re-instated as chairman today.
... the f***?
... the f***?
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Diamond has gone !!!
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Tricky Dicky
New member
Even more bizarre is that Marcus Agius, who resigned as chairman yesterday, is re-instated as chairman today.
... the f***?
Just to recuit Diamonds successor, I would think, apparently you can't be without a Chairman and Chief Exec at the same time.
Dick Knights Mumm
Take me Home Falmer Road
I was getting the usual banking suspects arguements in early. It is an easy defence making out any criticism to be jealousy. I can see why they do it.
But we are surely too far in hock to the banks. And they know when the tab needs picking up again in the future - which it will - it will be the public purse that does it.
beorhthelm
A. Virgo, Football Genius
- Jul 21, 2003
- 36,026
well done everyone. hopefully there will be more executives binned as the rest of the banks get hauled up on this issue. by the end most will be gone and out banks will have purged the managment. maybe we'll get to bail out a few more too.
Even more bizarre is that Marcus Agius, who resigned as chairman yesterday, is re-instated as chairman today.
... the f***?
Indeed. Against FSA regulations I believe
And whose fault is that then? These executives are responsible for gross negligence, they have made of mess of their industry, been partially responsible for a global downturn and worst of all, are paid obsene amounts of money for doing so.
Although your point stands - our car industry was decimated in the 70s and 80s in no small part because of piss poor executive management.
So true .... and my criticism isn't motivated by any jealousy. I was in senior positions 10 years ago when it was going mad. All the pressure was on lending more and more and more to people that could clearly not afford it but all the reward was for dishing more and more out so the bankers were falling over themselves to do it. We would lend to the same people almost monthly, end up securing it against property and then keep lending until all the equity was gone. The banks didn't give a toss that they had let unsuspecting but ignorant people blow their legacy and they then sold on this garbage debt for even more profit to the idiots at Lehman and elsewhere. Then it all crashed and no accountability in the banks, a few token resignations and that was it but we had to bail them all out, either directly (RBS/Lloyds/Rock) or indirectly through QE (which the banks aren't seemingly playing fair by either)
There's layers and layers of so called Executives ready to pick up the reins but the culture is ingrained - I've no idea how it gets undone tbh
Grrrrrrrrrrrrrrrrrrrrrrrrrrrr again ... need to go for a walk!!!
beorhthelm
A. Virgo, Football Genius
- Jul 21, 2003
- 36,026
the point is we dont know yet. we dont even know what other banks are involved yet as the full outcome of the investigation in to the issue hasn't concluded. The media has jumped on the first to admit wrongdoing. but let not wait around, lets sack the board, before bothering to find out if they were indeed responsible for the actions of 5 years ago.
GreersElbow
New member
That's not an opinion but more of a fact. The banking sector is vital to our economy, and has plenty of incentives for people to do well and good. Just the occasional morons in there that don't like their salary and do a bit more to impress and get that bonus.
Can I ask what do you do in banking? As it's a sector I want to go into after i do my BSc Economics...
Rugs, there's no "only by chance" with Barclays. It's not widely reported, but at the time of the bust in 2008 Barclays jumped in bed with a large number of Asian investors. It may not have been recognised as a bailout, but they were very shrewd in selling off parts of their business to accomodate the large losses they incurred during the problems. THey may not be in hock to the British taxpayer, but a large British Bank is no longer largely owned by the British, unlike RBS and Lloyds.
- Jul 7, 2003
- 47,641
I thought this thread was going to be about Ann Diamond. Breakfast TV hasn't been the same since her & Owen moved on 
I thought this thread was going to be about Ann Diamond. Breakfast TV hasn't been the same since her & Owen moved on
Those were the days!
Dick Knights Mumm
Take me Home Falmer Road
It's a trough. The people who set the remunerations also have their snouts in it.
Banking is supposed to be our premier industry defended and protected to the hilt by Cameron, please remind me why the f*** are we clinging onto this basket case of a sector.
Dalos
New member
- Mar 2, 2009
- 343
Tell me you are joking. Apart from the huge tax revenues the banking sector contributes, wihthut banking, business ceases to grow - they need to borrow. Now admittedly the Banks are not lending as much as they could be despite Goverment intervention, but a few guys falsifying LIBOR doesnt mean the whole sector is to blame.
Hotchilidog
Well-known member
- Jan 24, 2009
- 9,130
I read today that only 25per cent of bank lending goes to the productive sector of the economy ( i.e. businesses) and most goes on property loans and lending to other financial institutions. I stand to be corrected on this, but that seems to blow a whole in the myth that banks are helping the economy out of recession.