FSA’s Barclays Report:
Staff Believed Bank of England Sanctioned LIBOR Scam
This is from page 36 of the FSA Notice on the Barclays LIBOR fixing scam:
Robert Peston has identified the senior individual at Barclays to be Bob Diamond and his interlocutor to be Paul Tucker, deputy governor of the Bank of England. If it turns out that, as Guido suspects, the Old Lady was encouraging Barclays to downplay its LIBOR funding costs to help maintain calm, we have a right old regulatory pickle. The Bank was in all likelihood encouraging Barclays to break the rules for the greater good of the City of London…
Hat-tip: Jim Pickard
that’s what QE’s about too – the greater good of the City
Anyone seen my beard’s sprogs?
i counted the sweetcorn in and i will count them out
Page 36 point 174 says
In Decmber 2007 Barclays compliance reported that the FSA agreed that the approach Barclays had been adopting of adjusting LIBOR rates “seems sensible in the circumstances”.
The FSA (which Ed Balls and Ed Miliband set up as unaccountable to Treasury Ministers or to Parliament) has their hands all over this manipulation and puts, Callum McCarthy who is an ex-Barclays CEO, Hector Sants, Adair Turner, John Tiner, Mervyn King, Alastair Darling and Gordon Brown firmly in the dock.
You may all have complete confidence in me! – there is no crisis, no covert financial naughtiness, everything is above board, the EUSSR is Heaven on Earth, and you do trust me don’t you!
That’s exactly what I told Lloyds TSB chairman Vic Blank when I “suggested” they take over the stricken HBOS. It was for the greater good of the City of London.
The financial markets have been manipulated for years by Governments and their Central Banks through their crony Investment Banks, particularly in the US, but also here and elsewhere. Many speculators make their money by following this manipulation viz the rise in the Equity Markets since the introduction of quantative easing. There will be no public inquiry, for if there was, it would be extremely damaging for governments, and their crony Investment banks, and both would be exposed to massive litigation for fraud.
A) Neither dipstick Dave nor any of the baby eating Tories were in power when this happened – it was all LieBore on libor action.
B) Millbank Tower must be sending out runners for emergency Andrex supplies, as most of the existing “leadership” (for want of a better word) are up to their necks in this and must be shitting themselves even more witless.
LieBore trolls – can’t reason with them – actively discouraged from shooting the wankers.
Nonsense. It was all for the greater glory of the Gord.
The words “The greater good of the City of London” should be noted!!!
There was nothing about the Greater good or financial wellbeing of the Greater British Public mentioned.
When Camoron – a few months ago [EU meeting] mouthed about ‘protecting the City of London and the financial DISTRICT’ – he couched his words specifically. The issue was to protect those in the City who have been havin a right old good larf at the stupidity of the British public who thought that it included them. And the Journalists who sell on the lies & duplicity also need to be looked at.
The City of London is not(?) the centre of the worlds Money laundering market – how could it be what with the Corporate Governance that we are told / were told that we have?
Of course the state sanctioned this. It’s really obvious.
GDP is now really only a measure of debt.
That’s certainly how Labour see it. Chukas the money on AQ this Friday was saying that Labour had left the country with a growing economy. Failing to see that printing money is just a short term fix to the stats, the carefully selected BBC audience seemed to be of much the same opinion too.
Gordo “EOBAB” Brown’s economy had zero real economic growth, just increases in debt to falsify the economic figures. Which is why the banks have their current problems.
So Bob Diamond knew nothing about libor fixing, though believes he received instruction to do just that in 2008 (part way through the timeline of the libor fixing scandal), and he STILL knew nothing whatsoever about it? A few rogue traders?
Why do I sense straws are being grasped?
Yesterday he didn’t know, today he was doing as he was ‘instructed’, what nonsense will be spouted tomorrow?
Join the dots:
- Banks mis-sold loan to customer’s with ‘asymmetric leveraged collars’ to “protect” against rising interest rates. No collar, no loan!
- Banks then switched from over- to under-reporting LIBOR
- LIBOR dropped accordingly
- collars strangled their customers
So, the LIBOR banks crashed their own customers and with them, the economy!
Browns “Potemkin” economy is coming home to roost.
If someone at the BoE hinted at Barclays to lower their Libor rate, who told that someone at the BoE to do it?
Why spend millions on a shopping mall in the turd world – Londonistan?
http://www.bbc.co.uk/news/uk-england-london-18662504
By shutting down most of the courts in east London and channelling most of the gang-related trials to Stratford Magistrates court, the MOJ has inadvertently increased the likelihood of members of the various nasty little thugs in the area to travel to and congregate in the vicinity of Westfield and the transports hubs servicing the Olympic village. Oddly enough, increasing numbers of turf wars and ‘slipping’ fights have started to manifest themselves in the area.
We’d give the little turds a fucking turf war.
Not sure whether the party that edges there faster or slower will be the winner in this…
The good, decent, moral and hard working ‘people’ of the UK – who have been lied to by all 3 major parties in cahoots with the corrupt in the city will be the winners.
Off with their heads.
You have to remember that everything we politicians do is for the benefit of and entirely for you members of the electorate, our constituents. We work extremely hard to achieve this and you should all be grateful. Boaz.
Could we have a transcript? her voice just pisses me off…and what she says…and the fact that she’s an apprentice balls
i , d still give her one though
So would I if I had a STD.
UKIP, can you do upChuk too?
It’s alot to ask, but they’re both worth it.
QE could save our bacon but not the way it is being done. Think outside the box that got us in this mess.
Genuine question – This doesn’t quite explain the “bollinger” emails though does it? Didn’t seem like instructions more of a favour??
I think the climate was created in which such things were seen as permissible.
String up King!
And of cousre, don’t forget this story…
Bank of England Pension Fund Surges Betting on Inflation
http://order-order.com/2009/03/31/bank-of-england-pension-fund-surges-betting-on-inflation/
This is just typical of the same old Tories it’s all about the money and they don’t care about ordinary working people and – what? This happened in 2008?
2008. Oh.
It was Thatcher’s fault then, with what milksnatcher did do the miners this LABIAR thing was bound to happen.
God it makes me angry.
ha! There’s always some lefty retard crawling out of the woodwork to start talking bollox about Thatcher.
About time you grew the fuck up matey.
Errr, spotting sarcasm not your strong point then.
Are you a Yank or something?
I think the sarcasm of Mr S. L. Bollock, in showing the knee-jerk response that mentioning Thatcher brings out in certain individuals, was so subtle it eluded you, JH; he’s obviously lampooning certain people for whom the name of St. Maggie(PBUH) is so sacred, she cannot even be mentioned in a joke which is meant to show how retarded those who blame her for everything are. There’s some sort of Poe’s Law at work here, but I can’t be arsed to figure it out right now. And Yanks really aren’t all THAT thick when it comes to sarcasm– they’re more like “Yeah, funny; that’s that ‘dry British wit,’ right? So funny I forgot to laugh.”
Lefturd , is this a characiture posted here for comic value ?
Very cosy. Saving their bacon whilst fiddling the interest rate relied on by millions of others.
Is this not fraudulent?
What do you think current mortgage rates are if not fiddled?
Definitely not kosher.
This only mitigates their behaviour from Nov 2008 onwards.
What fairy tale will they use to cover the previous years of fixing?
Don’t buy it at all, Para.
Bob is well and truly sunk if he thinks this will wash.
So the public – who have been well and truly done-over by these people – are supposed to believe that it was all just a misunderstanding… one of those things.
Really?
Well let’s find out, shall we? Send in the SFO to investigate. If there has been fraud or deception, prosecute the individuals concerned.
In the meantime, let’s have proper regulation – not the old-boy relationship.
I wish
You have misplaced faith in the Serious Fraud Office – they are as inept as The F.S.A. Like the CPS and other government institutions, these organisations only seem to attract second and third raters. If they were any good they’d either be working for themselves or a big company.
And was the declared rate not sometimes higher than the real one? – thus the opposite of what the BoE had needed.
This is no get out of jail card.
Whoever set up the tri-party system of regulation should be prosercuted for something!!!!
If we had a political party that genuinely stood for integrity, honesty, transparency, then the rich wouldn’t fund it and the media would destroy it.
We haven’t got one that stands for integrity, honesty OR transparency
Yes we have, they’re called UKIP.
No you haven’t -your leader puts his money into off shore accounts and is economical with the truth when it comes to claiming his expenses
Quite right Disgruntled! You’ve just got to keep on voting for he LibLabCon party, it’ll eventually do something useful!
I think it was Einstein who came up with a good definition of madness : Keep on repeating the same experiment with the hope that eventually you will get a different result.
What’s the Bank of England? Who’s Mervyn King?
I know nothing! I was asleep at the time.
Doesn’t make it right, they were still gaming the system for their advantage.
Feed them to the lions, that’s what I say.
is this the right hand not knowing what the right hand is doing
Strewth Guido, where will all this mallarky end? I think we all know how it began, the finger pointing directly at Leiber.
Where is Ed Balls in all this? He’s usually on the t.v. all the time.
Rachel “the gob” Reeves was on Brillo’s Sunday programme, and I don’t think she answered any of his questions. Strangly enough, Brillo didn’t ask “the gob” where Balls was either.
Is Rachel kosher? Brillo doesn’t mess with the chosen ones.
Very much four-by-twoish.
Your guess that Brillo doesn’t ‘mess’ with chosen ones might have something to do with the story of him translating a bit of Goebbels a few years back.
Which upset a few Tottenhamists……apparently.
Like to see the chosen ones try and mess with me “AGAIN” – UP FOR IT … lets be havin ‘yer bacon – Oh and I do have a Crown Court Jury trial “Transcript” which does for the lot of ‘em.
Winchester 2009.
Oh sure, “The Telephone Game,” also known as “Chinese Whispers” and officially referred to in Government circles as a “Garbling In Transmission.” They would say something like that, wouldn’t they?
But you didn’t hear that from me.
There is a Law book of many of the legals’ little bibles. This particular book is entitled ‘Agency’ – it is upgraded every few years – it was on its 17th Edition back in 2005.
There are references in it to “Chinese Whispers” and that even on a civil footing in a civil case no one can get away with the “Chinese Whispers” excuse.
A Judge – District Judge Jones is an expert on ‘Agency’. He ruled on a civil court claim “against” the claimant ‘Estate Agent’ who in the background were acting in cahoots with Barclays (The Mortagee) – in 2005 at Bournemouth Crown and County Court.
Timelines and the year are relevant. Excuse typo – ‘Mortgagee’ The lender in question. Did the useless quango The FOS sit on a complaint for a year at the time – yes. Head of the FOS at the time Walter Merricks – a lawyer!
Yes yes, but how much did Labour know? How much shit can be stuck to them?!
Exactly Ramone.
all of it.
Balls et al should be wearing blankets to aide adhesion
and remind me who was PM at the time…. oh yes McMental.
Self serving cnuts more like
I am convinced this is all politically motivated to pave the way for UK entry to a European banking union.
Have you been ConVINCEd by Mr Cable and all the political pygmies and their legions of dupes in the Press circus?
Wouldn’t put it past ‘em.
Sarah has worked out that if I divide my MP’s salary by the amount of time I spend in the Commons I get paid £250 per second. She says I can spend some of it on fizzy pop and an Oor Wullie comic.
Here’s a hint for you Gordon- put whisky into your Iron Bru; along with your meds you’ll have NO problems believing that everything you say is true….
Its Irn Bru fuckwit !
It’s Irn Bru fuckwit, spelling moron.
It’s Irn Bru Fuckwit, pedant c unt.
Who was the minister responsible for the city? Oh yes Ed Balls no wonder he has disappeared. Just like his master used to do.
On a different point does Ed M think his shadow chancellor will survive a full enquiry and is that why he is so desperate to get one
Square Mile’s malpractice encouraged by vile bodies at the Bank of England, will it lead to a decline and fall?
Fish rots from the head. Gordo is the rotten head
I’ve always seen him more like an arse.
His head was up his arse at the time, which explains the anomaly.
This could be bad for labour.
http://hat4uk.wordpress.com/2012/06/28/exclusive-why-the-global-political-class-lies-in-fear-of-the-libor-scandal/
shit meet fan
I wish Dave had the balls to do it – destroy the bast*ards and have done with it – let the people see that big parties like liebour are destroyable then perhaps politics can take a step nearer honesty, allowing those who actually represent the people have a look in.
Dave has no balls, we have nobody representing the people
How have you failed to notice either?
The bigger question is this …
If Dave doesn’t pull the pin on this, what does it tell you about the skeletons in the Tory party/LibDem party and what do Labour know?
Politicians are all Hunts.
So Higgs Boson has turned out to be a relative sinch to find as compared with Brown’s missing trillions, for which there is no hope.
Are neutrinos still faster than the speed of light though, or should we still be having sleepless nights wondering if the universe is still kosher?
Nah! That was all because these boffins can’t add up. Neutrinos cannot go faster than light.
We are not due to find out to the contrary until 2112.
OK, we won’t bother with a proper proof to the contrary then, we’ll just take your word for it.
Not my word.
That of the BBC.
Undoubted.
Turned out to be a lose connection in a fibre optic cable.
If you really want the detail, go to the Cern Site online.
“According to sources familiar with the experiment, the 60 nanoseconds discrepancy appears to come from a bad connection between a fiber optic cable that connects to the GPS receiver used to correct the timing of the neutrinos’ flight and an electronic card in a computer. After tightening the connection and then measuring the time it takes data to travel the length of the fiber, researchers found that the data arrive 60 nanoseconds earlier than assumed. Since this time is subtracted from the overall time of flight, it appears to explain the early arrival of the neutrinos. New data, however, will be needed to confirm this hypothesis.”
So, effectively they hit it with a spanner. I have total confidence in that result.
http://www.wired.com/wiredscience/2012/06/neutrinos-cant-beat-light/
and many more
ll four experiments measured a neutrino time of flight that was below the speed of light, confirming that neutrinos respect Einstein’s cosmic speed limit. The previous anomaly was “attributed to a faulty element of the experiment’s fibreoptic timing system.”
The most expensive experiment ever held and someone didn’t tighten the nut enough. you just can’t get the fucking staff.
Neutrinos need to travel slower than light otherwise they couldn’t oscillate.
Nope it was nothing to do with faulty arithmetic but rather a faulty measuring device which appeared to show the neutrinos travelling faster than light.
Link please you lazy bastard.
find it yourself you lazy bastard
If you’re gonna do a job, do it well. We just don’t work on hearsay on this blog you know.
Its not hearsay you pillock, the information is on the web, just look it up you lazy twat. Are you on benefits perchance ?
Er, it IS hearsay because you said it, or rather wrote it. Blogging etiquette goes a long way you know, you idle fucking cuпt.
Its NOT fucking hearsay you stupid c unt , anyone who is half arsed enough to find out about these things can do so by putting in a little effort and discovering what the FACTS are. Go figure c unt breath.I take it you got straight A’s in your GCSEs under the great delusion ?
Cor, you two are hard! Would you dare speak to each other in such fashion if you were facing each other in a pub?
No, because they’d be outside, brawling in the gutter.
The search is now on for the Higgs Brownon, which is believed to carry the Unnoticed Hubris field.
High values of this field are believed to cause individuals to suffer from vainglorious delusions, while destroying all they touch.
It is believed that the Brownon carries energies in excess of 100 GPV (Giga Postal Votes), and that only in the IQ-free environment of Scotland can it be found running wild.
As I understand it, this elusive particle is thought to give mass to Brownian economics, however as it is now clear that such economics are build on the whispering wind, being vapid and of no substance whatsoever , it has now been concluded that no such particle is necessary.
Would this be the same “IQ free environment of Scotland” which produced James Clerk Maxwell whom many consider to be second only to Einstein in the development of modern Physics ?
I think it’s the current scotland, ruined by decade of welfarism.
Oh yes and while we’re on the subject would you like to tell us which IQ Environment Professor Higgs was working in when he postulated the existence of the Higgs Boson ? I’ll give you a clue it isn’t Wales.
Is a Brownon the same as a Keck-nodder? I need as much early warning as possible. TIA
The Higgs Brownon is improbable as my calculations show it has a infinite spin, mediated by anti-charm and strange bosons. It’s unnaturally long life is explained in BBC theory.
Doesn’t it look as if Miliband has done a Harman, made the noises of condemnation without reading the FSA report?
Funny how it has taken that Hunt Peston almost 72 hours to point the finger at others outside Barclays.
When is the next FTSE 100 reshuffle?
It is times like this when I am glad I do not have a pension fund.
I was disgusted when I heard what Barclays had been up to.
I was even more disgusted when Mr Diamond did not resign.
when on Friday I heard Mr Cameron covering for Barclays I got on a bus to Swansea and withdrew all my money from Barclays and closed my Barclays Bank account on the spot.
There is simply no place for Barclays on British High Streets. They should not be allowed to disgrace the FTSE further. If they stay in this country they are only going to blemish this country’s international standing.
I know mine was only a little gesture but if right minded people up and down the country follow my lead next week I am sure we can get a result without having another public Inquiry.
you cannot leave this mess with the politicians to sort out.
They are absolutely hopeless.
How much did you withdraw? £23.78?
Well if you are going to take that attitude you will have to take your £23.78 and put it in a biscuit tin under the bed unless you know of any other bank that has not been ripping everybody off in exactly the same manner. Conch shells?.
If anyone wants to close their Barclays account I would strongly advise them to withdraw all their money first.
I finished with Barclays last month and when they realized what I wanted to do they started threatening me with charges for this and charges for that.
After about an hour of arguing the toss I eventually got my way.
I withdraw my remark above, I believe the £23.78 should be given to the ECB and leveraged up by an appropriate amount and lent to Greece.
I sleep with all my money under the mattress.
It is still there when I wake up in the morning.
Bancio Cymraeg !
I am withdrawing all my money and giving it to Bono so he can continue to fly his hat around the world in his private jet.
Went by coracle to the river bank more like!
That’s where my money is!
I threatened to take my pension money out of Barclays but they said it would bankrupt them.
I think this is an absolutely brilliant idea.
I have made an appointment with the Cooperative Bank for Next Wednesday.
I have told them I want to transfer both my business and private accounts from Barclays in the Strand
I have 6 employees 4 of whom bank with Barclays because I made them open accounts when they started wanting me to pay them in cash.
They all seem quite happy to change now .
Barclays should not be allowed to use their muscle to sit this one out.
They should be held to account by the people they have let down.
Co-operative are the Liebour Libor Bank!
Coop bank?!?
Not only are they a bad risk, but they kept the Labour terror in power with illegal loans.
I smoked marijuana, admits Chuka Umunna http://tgr.ph/MKI3wP”
I always said this man committed criminal acts.
Milligan should show true leadership and sack him on the spot before the night is out and send the file to the Old Bill
Find out first if he inhaled.
I always have a few spliffs before I go on telly to talk about economics. I feel it makes my arguments more coherent.
This is the dope who is also black gang overseer and told us all last week that we should admire and go out of our way to assist the gang members as they are really astute businessmen – I kid you not.
So fucking what….!
Give him shite for being a crap fucking shadow business secretary, or what ever he fucking does, don’t give him shite because he once smoked weed…
Ffs.
Cannabis is the street currency of organized crime.
Its use should not be tolerated in any form.
‘ tell me Mr Chucka who sold you this Cannabis?’
‘ I cannot remember Officer. I think it was a man in a pub toilet.’
‘Which pub Mr Chucka?’
‘I cannot remember officer.’
Get him out of politics now!
‘Cannabis is the street currency of organized crime’.
Are you Paul Dacre…?
Shhh, He’s one of those puritans who think prohibition will make a country moral, rather than enrich criminals and cause untold damage.
Hmm.. so how is the ‘war on drugs’ going ?
Better than the ‘war on terror’ I hope.
If you want a good tip for tomorrow then put a short on Barclays if you see a dead cat bouncing.
…a senior individual at Barclays…
Diamond not mentioned by name.
Shades of Jim Devine defence.
I dinnae unnerstaun. Naebody tauld me. It wasnae mee.
This stinks worse the more we hear about it.
I’m divorcing you ‘cos you’re a shortarse workaholic, and I want custody of our collection of shitty antique teapots.
Hmmm!
You only wanted me for my spout.
On the contrary Jim Devine did name those responsible for “showing him the ropes” ,if I recall correctly one of them was our friend Tom Watson . Watson provided a sworn statement to the court denying this. One of them was lying.
Or both.
A legal maxim / citation:-
“Ignorance of the law is no excuse”. additionally – and nor is it a defence.
The citation has been uttered thousands of times in thousands of judgments and rulings by the Judiciary – to clobber many a criminal – so let’s be having you M’luds – such that you lot claim to be the last defence against Mob Rule.
Phew! I am so pleased to learn that Kinnock, Prescott, Martin, etc etc are batting for my side.
Say what you want about Rupert Murdoch, pot kettle etc., but even HE pales in comparison to the cynicism of L. Ron Buzzard and the Church of Scamatology.
Murdoch is evil – ask Harold Evans. I believe Murdoch has not disputed Evans’ calling of him as evil … why not?
The cult of Scientology was ‘founded’ in 1950 – and there are plenty of Moneymen as ever in the US Bible belt in the background who take their cut ‘at arm$ length’ and who do very well out of the hollyweird sect. Murdoch has done deals in the US with all the religious cults. Its all on record. If he and his can find a way to profit from it then he and his have.
If Murdoch really gave a shit, he’d print some of the contents of the Scientology cult’s instruction manuals, which would make them have hissy fits.
The Murdoch / Scientology spat – is a great big SPOILER STORY – designed and created to take the pressure off of Leveson and Libor issues.
Would any one agree – we can’t take much more of this without losing our will to live!
without our need to take to the streets more like.
http://hat4uk.wordpress.com/2012/06/28/exclusive-why-the-global-political-class-lies-in-fear-of-the-libor-scandal/
I lost the will to live a few years back Perry, when I heard Bliar spouting off about Sadam Hussain being able to attack us in 45 minutes and the HOC believed him and took us to war.
Of course we all know how rich Bliar became off the backs of our de..a..d. service men & women – AND THE BASTARD SAYS HE WOULD LIKE TO BE PRIME MINISTER AGAIN!
He’s as doollally as Mctw*t.
There is a difference.
Brown was (and still is) deranged whereas Blair was born EVIL.
The truth is that Diamond is dead meat and Barclays have been caught in public taking money from innocent people who were encouraged to trust them.
Just as Cameron thought his little ploy about an independent Inquiry into LIBOR would save the day the truth is now coming out.
We have only been told a small portion of the truth.
Most people do not know who Paul Tucker is .
They know who Mervyn King is.
Cameron had no faith in him but has had two years to get rid.
Cameron for once in his life should be removing his finger from his backside.
We need an emergency Court Injunction to to appoint an Administrator to run Barclays PLc with share dealing being suspended from tomorrow morning.
The red ring highlight is disingenuous, presque dishonest.
The true position is in the sentence next but one before the red ring. It reads “No instruction for Barclays to lower its LIBOR submissions was given during this telephone conversation.”
NOT the fault of the BoE then.
A classic non-denial denial. So the instruction went by email, or pidgeon, or even a subsequent call.
This article suggests that Bob Diamond, on the basis of a ‘phone call’ was prepared to lie about LIBOR? Is Bob Diamond stupid? Didn’t he demand a letter and rationale? Didn’t he question the morals and ethics of this? This guy should be sacked on Monday.
This whole episode is sickening.
Customers should vote with their feet and get out of this dodgy outfit fast.
everything should have been done in writing… the spoken word evaporates as soon as it has been said…… oh for this to have been recorded.!
“In writing” – a quick search on the ether should lead you to Statutory Instrument 859. SI 859
My pleasure to have been informative.
Sir, I fail to see the relevance of ‘You must not let your dog defecate on a public transport’.
Smeg off.
The existing criminal law, in the UK, does already provide for those suspected of making false representations, to change the market’s perception of the value of listed/ traded instruments, to have their behaviour subjected to the scrutiny of the criminal courts in this country.
Why have we seen no arrests?
because the whole ediface would come tumbling down. They are all protecting each others backs.
http://hat4uk.wordpress.com/2012/06/28/exclusive-why-the-global-political-class-lies-in-fear-of-the-libor-scandal/
… the whole edifice would come tumbling down. Sorry to be pedantic – the whole edifice IS tumbling down.
Its all so … as you were in 1989 / 1991 when the Commie Corruption brought itself down.
The key is that when a Commie or Capitalist country – becomes so riven with corruption at its top – it will implode.
Proably because it would be too embarrassing to arrest the likes of mervyn king, gordon’Isavedtheworld’brown and edballs,
99.99999% of us wouldn’t be in the least bit embarrassed if they were arrested.
embarassed? I’d fucking love to do it
PLEASE – I beg you, let me have them one by one for a little while, – don’t care in which order. Then they’re all yours.
You all keep blaming Labour but the coalition has had two years to legislate. Have they?
Like fuck they have.
What ever you say nut case………whatever!
Wavy Davy, Clegg and Gideon knew, they were briefed when they came to power
http://hat4uk.wordpress.com/2012/06/28/exclusive-why-the-global-political-class-lies-in-fear-of-the-libor-scandal/
“On April 12th 2011, The Slog reported that Vienna-based asset management concern FTC Capital GmbH – and two funds it operates in Luxembourg and Gibraltar – announced their intention to sue twelve major investment banks. FTC accused the banks of conspiring to artificially depress Libor, and limit trade in Libor-based derivatives from 2006 to 2009. The defendants as listed in the suit were Bank of America Corp, Barclays Plc, Citigroup Inc, Credit Suisse Group AG, Deutsche Bank AG, HSBC Holdings Plc, JPMorgan Chase & Co, Lloyds Banking Group Plc, Norinchukin Bank, Royal Bank of Scotland Group Plc, UBS AG and WestLB AG.”
This hardly sounds like Diamond was a rogue banker acting independently. Maybe it was all part of Gordon Brown’s plan to save the world. Though I don’t understand why the banks would need to be doing this in 2006.
Oh I say chaps!! Steady on!! DO take time to look at what we have achieved!
Guido “The Bank was in all likelihood encouraging Barclays to break the rules for the greater good of the City of London…”
If true then, while it may have been one of those damned if you do, damned if you dont situations, rules be rules, and if our leaders break them, can we really be suprised when those lower down the food chain emulate?
Exactly how far has darkness penetrated into the English Establishment? Dont get me wrong I walked myslf out of darkness over a decade ago now so I do sympathise, but it seems to me that either darkness is increasing or it is becoming much more visible. Someone please switch on the light!!!
Leaders need to inspire and touch hearts. Not fiddle with the system so things look good. Be good. And when the crap hits the fan, adapt, make things better.
If a lad from a broken home in a Scots council estate like me can do it, then what excuse have our leaders with all their family backgrounds and education got? Well?
A banker is someone who comes with a smile on his face and skullduggery in his heart.
Skullbuggery would be more apt.
That’s one in the eye for Yorick.
I fart in your general direction.
But they probably don’t have your intelligence, integrity or ability. The majority were gifted their position in life!
Oh I say again!! I had to work dashed hard to get where I am . . . all that PR!!
Flattery will get you everywhere!!! Please dont though. As my middle age increases I realise that my intelligence is not as sharp as it once was, while my abilities who knows? I have, rocked so many boats I have few friends in the establishment (which I am part of in a minor way through professional quallifications). Integrity well I certainly have more of this than I once had in the depts of the darkness that I once fell into. Is it enough? Who knows? All I know is that I am shedding a tear for the state of leadership in Europe and in England today. Not just in politics, but in business, and even if what you read is true in the nhs etc. What I do know is that good leaderhip matters, ethics matters.
Stewart, you just knew someone would do this joke if you gave them the straight line, right?
“The Only Way Is Ethics!”
Which is not to disagree with your point in any way, nor to poke fun (despite my moniker), but, as you know, nowadays you have to come up with a punchy slogan if you want people to pay attention.
Hugh Mellor’s Causes of death of philosophers is quite fun.
http://people.pwf.cam.ac.uk/dhm11/DeathIndex.html
And put form over substance – never!!
Fortunately, regardless of what some may think through my dozen or so years of making people pause for thought – I really am not trying to get pople to say “look at me” I just want them to do the job they promised to do well.
Oh yes slogan – The Slogging Scotsman (my race name)
Stewart.
We understand.
We don’t hold it against you.
>And put form over substance
Hasn’t done Apple much harm…
It all depends upon what you mean by intelligence.
Let’s start by discounting you as an example and we might be getting somewhere.
I have never made any claims for myself.
However, if we include you, we can ensure that we will get nowhere.
Have a nice one.
I’ve already discounted you and things are so much clearer now, well done.
Yes. Your comment is content free – even more so than before.
They can all become Marxist Communist “Functionaries” then. Twat.
The “Finding Your Arse With Both Hands” workshop is proving particularly popular.
Have any of them passed the course yet?
Share skills, like postal vote harvesting perhaps?
And would it be right to assume that all those customers who have paid over the odds will be lining up to sue for billions of £s?
Yup – everyone with a mortgage or loan
But the Libor rate was artificially lowered so those bank customers with overdrafts would have benefited from it.
Artificially lowered so that more people could take out higher mortgages and buy more property thus driving up prices. Will they pay back the extra over what they should have paid in the first place?
10% on 10,000
or
1% on 100,000
Which is REALLY more affordable???
This is ridiculous. You cant have it both ways. You cant say customers are getting ripped off when the banks raise Libor and get ripped off when they lower it as well. You might as well argue that people get ripped off when the pound rises 1% against the Euro and they get equally ripped off when the pound falls 1% against Euro.
FFS think about it. People here are acting like ignorant socialists.
Er. Don’t be thick. When the measure is manipulated one way or the other from it’s market led value it rips off one group or another. One group might also be better off at the same time, but that doesn’t mean that both aren’t ripped off.
Just to be on the safe side we should hang the whole lot of them.
Twice.
And then burn them on the
brassierebrasserie.My weapon of choice is the double-<del.breastedbarrelled slingshot.
FFS !
My weapon of choice is the double-
breastedbarrelled slingshot.Your HTML has gone
onoff strike…“Brasserie”= a French brew-pub.
As opposed to a brazier (a vessel for holding hot coals).
(Mind you, we are all for burning them, and a French pub is as good a place as any to do it in, but let’s make sure we have the right equipment.)
Thank yew.
Well what a surprise? Not. And where was gordon and bullyballs during this decision to manipulate the libor rate? Not exactly coming out saying they didn’t know anything about it are they?
Even sarahbrown has stopped her twitter blitz saying that her darling hubby is innocent of all of this.
Taxpayer-backed Royal Bank of Scotland sacks 10 of its Traders over Libor fixing scandal
Read more: http://www.dailymail.co.uk/news/article-2167239/Taxpayer-backed-Royal-Bank-Scotland-sacks-10-Traders-Libor-fixing-scandal.html#ixzz1zNmfzOUy
sacrificial lambs come to mind. Fred the Shred is in there somewhere I bet.
This woman is just so out of touch. georgie’s 3p petrol decision was welcomed by most of us. And surely at this moment in time there are far bigger problems to worry about – not I suspect that this apparently bitter and twisted woman would notice.
BBC luvvie misses out on another series about a ‘holistic’ detective because of Tory cuts.
http://www.bbc.co.uk/news/entertainment-arts-18634253
I suspect that Douglas Adams would not have been very impressed with the BBC reporting that the BBC had to axe this because of:
“The BBC said last month that the Douglas Adams-inspired show on BBC4 had not been recommissioned due to the freeze on the licence fee” note the BBC reporting the BBC on their own site in the third person … £3.2 billion not enough? Geobbels would have been envious of their PROPAGANDA machine, a freeze is not a cut unlike the things everybody else has to put up with, they could easily save at least million pounds a week with less Lattes and nose candy.
The series was dropped because the hero was a white male. The same thing happened to Zen, the series about an Italian detective, not long ago. Solution: Dirk Gently is reborn like Dr Who, but as a disabled Eritrean lesbian. Funding will pour in.
To be fair, the BBC has to pay Gary Lineker, Alans Hansen and Shearer and Gianluca Vialli to go to Kiev and suffer the dreadful heat in order to bring us their valuable insights into bladder-kicking, so they probably had one of Liam Byrne’s “no money left” moments.
I can’t wait for the fucking Olympic shitstorm to start – every single non-sport shown live and with expensive frontspersons.
Loving it! You’re brilliant at telly.
Magwampe – good name, yeah – could investigate the evil Tories and how they cuy her benefits and selfishly tried to stop her coming into the country on a stolen passport.
She could investigate how evil the same old Tories are in every episode, and show how everything bad that happened between 1997 and 2010 was all their fault after all. At all times she will be philosophical and wise, because she has experienced – sniff – racism from hideously white people.
Here’s £1.2 million of money we extorted with menaces from anyone with the chutzpah to own a television set. Fancy a line to celebrate?
I think you really have worked there.
I’m so good at telly.
What ? Are you saying Matt Smith is a disabled Eritrean lesbian ? Who’dve thunk it !
No doubt Peston will be getting lots of guidance on where the buck stops among the Barclays directors with help from the BBC Directors and Marcus Agius in particular must be helping him quite a bit here.
Yes. Rather funny, that…
Why doesn’t someone print a sheet of A4 with a load of utter bilge and then print on it private and confidential in nice red ink and then inadvertently lose the document in close proximity to Peston?
That is sthe standard way of fixing the news now. Let’s face it. They are all at it.
Next scandal:
Newsfixing?
Why are all these fucking liars lying to me all of the fucking time?
I’m a bit pissed off with it all.
So I’m going to get pissed.
Lying is the new truth.
Universal Hiss, Universal deceit more like.
It appears that they’re all in it together – what hope is there left for us mere mortals?
And where are the Army – when we need them? – oh most of the generals were piped aboard the gravytrain during the reign of terror … and the men on the ground that Blair loves so much their in a far off land at present as it happens.
their ??
EOA – sorry u prick – its the content of the piece u rsehole; terribly sorry though about the typo.
It’s obvious that this is a scandal but the key players are in the bracket of being above justice. McMental and his sycophantic colleges, all with no back bone to question the actions of this apparent nutter, should be held to account along with ALL the senior management at Barclays and any other associated banking groups. Questions have to be laid at the door of this administration as to the level of knowledge of this matter when they came to power and whether it was pushed under the carpet, hoping that it would never see the light of day. Cameron may find his position difficult in this area but nowhere as embarrassing as that of the Ball family and Ed Miliband. At the end of all this no one will be prosecuted, all the little people will be forced to pay yet again, the bankers will make even bigger bonuses, the Bank of England and the politicians will abdicate all responsibility for the issue, most of the political animals will be re-elected, and the country will descend deeper into the SH*T!!
Is it time to take to the streets to LAWFULLY protest? Nah We’ll miss Eastenders if we did that!!
When all the little people take their money out of Barclays tomorrow morning I think you will find there will not be many Bankers watching Eastenders tomorrow night.
I think you’ll find the BBC memory holing who created and was running the FSA, and that it’s all Dave’s fault…
Can’t remember my moniker
Yes.
I have to admit it. It is a picture of me.
I am holding up a mirror pointing at you.
I wuv u
x x x
Tat!
I am so touched.
Not as much as you are though.
Keep taking the tablets…
It’s more amusing than TATs more usual attempts
I’m sure you will join me in wishing him all the the best with his attempt to
GET WELL SOON!
Thank goodness for that, I wondered what the hands were doing if not visible, a spot of quantative easing or something…
Peskon has probably ‘identified’ fuck all. His mates from the Treasury of the period, the same mates who gave him his one and only previous banking ‘scoop’, will have given him the lowdown.
i,d still give her one though.
So Diamond’s excuse is;
“A big boy told me to do it”.
I understand that Barclays was fiddling the Libor submission figures long before this putative conversation between Diamond and the B o E was alleged to have taken place.
Perhaps the Select committee might like to explore this point further?
We need an inquiry and I’m the man to do it.
who are you and how much do you know??
are you a member of the star chamber and if so did we appoint you??
i think we should be told.
Doubtless the FSA will be able to find numerous e mails making it clear that figures were being altered in the national interest at the behest of the Government.
It would be strange, after all, if traders were willing to write e mails which proved their complicity in deceit and corruption, but wrote not a word about their actions being motivated by wishes expressed by senior B o E employees or instructions from the Bank of England.
Given too, that Barclay’s submissions were actually a lot higher than the majority of other Banks, especially the big American ones, then one has to conclude that either Barclay’s is incompetent in everything it does, including fraud and deception, or that the American Banks were fiddling the figures to an even greater extent.
The one thing we can be sure of is that the American Banks have good enough political connections to ensure that the matter is never properly investigated.
All these individuals are obviously graduate failures from the ‘Arthur Daley School’ of financial management. They got caught! Me, I failed the entrance exam!
my father was a pheasant plucker and i am a pheasant pluckers son .
as for my own progeny he is just an unpleasant fucker who pushes drugs and bemoans the withdrawal of EMA.
So the European Medicines Agency has been disbanded eh? They kept that one quiet!
Banks.
My mother, (86 years old) got a very nice letter, well more of a thinly veiled threat actually demanding the sum of £3 & 25 pence be paid immediately or they were going to send the bailiffs in, owed on a credit card apparently which she should never have signed up for anyway as they have been charging her exorbitant fees for her to use her own money, must have cost them £30 pounds for the administration but I suppose they just claim it all back from Mervyn King.
ALMOST half a billion pounds of British aid money was paid to fatcat consultants last year, while thousands more went to civil servants’ luxury hotels, chauffeured cars, and even acting classes. Express.
my father was a pheasant plucker and i am a pheasant pluckers son .
as for my own progeny he is just an unpleasant fucker who pushes drugs and bemoans the withdrawal of EMA.
I wish Spain and Italy well in tonight’s final.
Wait, by wishing them both well, I may have caused a rift in the space time continuum.
Could be a penalty shoot out in which nobody ever manages to score, what happens then pig Blatter?.
Don’t worry Gordon, Sarah is the most forgiving person.
And who was controlling the Bank of England in 2008, and why?
Mantra word that ‘they all love’ spouting:-
CONTAGION …
= 1.The transmission of disease from one person to another peston by direct or indirect contact. 2. a contagious disease.
Never mind quantative easing – Quarantine the lot of them.
In the midst of all the self-appointed newspaper and political witchfinder generals does anyone actually know how LIBOR works?
It is not possible for one bank to skew the rate. The lowest and highest outliers are always dropped and the average taken of the remainder. So on a full day there are say 18 banks that report (and it is very subjective rate anyway) and the top and bottom 4 are discarded and the average taken of the remaining ten.
It would take a collusion of a majority of banks to achieve this (which is not unlikely given the market’s history) but lets not get carried away with Barcap here. Its a bit like cockroaches there is never just one.
Speaking of cockroaches I can scarcely believe the Government has the brass neck to accuse banks of fixing lending rates when the UK has done nothing but to the official interest in order to reduce its repayment costs for the last ten years.
Both Labour and the Coalition live in very windy glass houses.
A more simple explanation is the word “Cartel”.
How do you think the financial markets work?
Do you think there is an objective magic formula for LIBOR. The banks are doing this for their own benefit not a public service in the way it is being portrayed. Its just a side effect that this rate is used as the reference point for a lot of credit instruments.
In LIBOR the banks are also implicitly reporting their own liquidity and borrowing strength.
While personally I think the mainstream banks are a set of insolvent entities acting as parasites on the general public through the giant fraud that is fractional reserve lending this particular issue is just not that important amongst all the other activities. The winners and losers are the players in the interbank market here. It has very little effect in a general sense. In fact if I was a little more cynical I would say it was nothing but a bit of pre-arranged pantomime to deflect from the real crisis unfolding at the moment.
Currency controls here we come.
Some years ago (in the reign of terror) Our UK courts believe it or not – [just search it out] ruled that an ‘Entity’ – a bank – not a living breathing person has Human Rights. As of today I am not sure if that ruling / Judgment was overturned – and I do not think it was.
UK Judges made that ruling / Judgment – NUTTERS. But ‘beholden’ to the Banksters.
They are ALL fiddling it you mong.
http://www.zerohedge.com/news/bank-england-about-be-dragged-lie-borgate-and-which-us-bank-next
“We already know that Barclays has been exposed to be manipulating Libor on an epic scale. And even with all this, it still could manage to only be in the third best quartile? If they were manipulating their Libor submissions they sure sucked at it. Which of course is why even the BOE got involved. “
Virtually all of the present mainstream press commentary is centred around the fact that Barclays somehow made huge profits on the blatant attempts to manipulate the banks reported LIBOR rates lower. However this is less than half of the actual story, the fact is that the prime reason why senior bank staff jumped onboard the LIBOR market manipulation band-wagon several years ago was to give the illusion to the market of solvency during credit crisis extremes when the LIBOR market would freeze… when the reality was that Barclays, along with all of the major banks, were insolvent/bankrupt, having made and lost huge over leveraged sums, that were many times the amount of capital the banks had hence the banks lied. They lied about virtually everything including LIBOR to prevent market panic and another Lehman’s style collapse. In addition, to prevent actual insolvency, huge amounts of additional capital injections were required, these were loans and other extreme measures such as QE free money to prevent bankruptcy which the politicians, who are highly critical today, have been more than culpable in off-loading onto the backs of tax payers starting in September 2007 with the Northern Rock bailout.
The profits were privatised and the losses are now being socialised. And the bank’s PR men in parliament will make sure it will b e business as usual before long.
That is my point – everyone seems to be going on about it being fiddled- but what is “it”.
Lots of shouts of they are all fixing it – and when asked what it is they reply – “I don’t know but I keep reading they are all at it so I am sure they are all at it”.
Get a grip and try and devote more a bit of thought. LIBOR is always subjective and a number is ALWAYS plucked out of the air by some desk bod at each bank based on some random value or another. So in reality its always skewed one way or another for their own or some other’s benefit. THAT IS HOW IT WORKS.
The “it” is actually: “The rate at which they would expect to be able to borrow a “reasonable amount” in the general market before 11 am given their own judgement of the state of their internal liquidity and capital” – just what where they fiddling? It does not say they actually did borrow just hypothetically if they did what would it be.
So what did they “fiddle” and how did it affect any but those using the fixing rate?
What a joke. A load of noise about nothing by a bunch of under-informed idiots.
Compared to counterfeiting money via lending practice, money laundering, colluding with the state to tax you via inflation every year, fraudulent debt enforcement, fixing of bond markets, currency manipulation, equity and commodity insider trading etc this is just a drop in the ocean of effluent the state and the banking industry is happily in-cahoots in.
Try and think for a minute. Do some reading outside the ill-informed and frankly child like shouting of the mainstream press and forget the shell game of the media/politicians.
Sorry, it’s traditional to call anonymous commenters mongs.
And the difference between the names Anonymous and AC1 is what exactly. I’m thinking about half a percent of SFA.
Could the petrol, gas and electricity companies be fiddling us too ?
The answer is almost likely. However the water companies have been. Why? Well if they had spent the money properly upgrading the gutters and sewer throughout the UK as they are required to – instead of ‘raking off profits’ – we wouldn’t be having these ‘freak floods’ that “kill people” and destroy their homes. They do have a duty to upgrade the water sewers – but rather than do it – the CEO’s decided to ‘take the profit’ – hoping that well them old sewers and pipes will last out for another ten or so years…
hello!!! wakey wakey – from your slumber.
Actually they have invested billions in raising water quality to meet (pointless) EU standards. Bit of a fuck really.
What’s a bank? Money? What’s that? I had nothing to do with decisions. I was prevented by Tony from doing anything for 13 years. I’ve never been to Downing Street.
Call me dave has said that he will alter the laws so that these crims in barclays can be locked up. They can be charged tomorrow, the law against fraud states that “gaining percuinay advantage by deception” is on the books. I claim my 5000,000 pounds, that makes me cheaper than leveson.
Just about brings you into the Tony Blair lower fee range!
Fuck you all and fuck you often.
ps. Fuck off already!
Remember Roberto Calvi?
Merve “The Swerve”,Governor of the Bank Of England will shortly announce a reduction in base rates form 0.5% to zero %.
This will,once and for all,put an end to all of this LIBIR waffle and gibberish !
All power to David Cameron !
What a spiffing idea, that will keep the proles happy. Then they won’t worry what a cluster fuck we all are
“This explains why the “contraction” in interest rate derivatives in Q4/07 was restricted to the short end of the curve – the buggers have corrupted the benchmark which these trades are hedged against. Short term interest rate swaps are all hedged against 3 month Eurodollar futures – a Libor based product. This is evidenced by the reduction in interest rate derivatives, maturing in less than one year, at ********** in the aggregate amount of 8 Trillion from Q3/07 to Q4/07.”
“The British Bankers’ Association has brought forward a review into how it sets the pivotal London Interbank Offered Rate amid mounting concerns over the credibility of the measurement.
The association yesterday revealed it was re-assessing how it calculates Libor – a benchmark measurement that filters through the economy, affecting mortgage and other interest rates across the lending system.
Despite widespread concerns that Libor has blown out to levels significantly above base rates, economists fear banks are understating the rates at which they are prepared to lend to each other, downplaying liquidity problems. ”
This goes to the top.
3 days ago we were told ‘Bob Diamond added that authorities found no evidence that knowledge of the manipulation, for which it has been fined £290m, went any higher than “immediate desk supervisors”
Now we are told “…senior Barclays’ management on October 29 2008 gave an explicit instruction to reduce Libor submissions”
Are these NOT completely conflicting statements?…or am I barking???
I refer you to the comment of the day.
And you AC1 are referred to many comments about the nutjob Parris on an earlier blog about the bums bandit article.
That’s the Quote of the Day….
And I nearly posted it the proper way round.
Wouldn’t want the bandits dragging me into court …… oh on second thoughts “they can’t”, ‘cos I got x number of ‘em locked down – ‘cos I knows me law. Me Davids MP’s Laws !!! HA Ha Ha. What a bummer for the one eyed politicised ohmo’s.
there was no real growth whilst Brown and Balls were in charge of government finance
Sir we dispute your growth statement. Some things such as our pensions and bank accounts grew dramatically.
Move Your Money
Barclays’ Chairman Marcus Agius will take a bullet morrow and resign.
After all there are people higher up who need protection
Yes we thought we would announce this now as all the proles will be watching footie. A good time to bury bad news
With a name like that he sounds a bit of whoopsie.
I reluctantly agree with the first part of that sentence, though, obviously, some sturdy rope and a trapdoor is my prefered methodology.
Marcus Agius is married to the daughter of Edmund de Rothschild. He is Chairman of the BBA (who definitely knew what was going on), and like Kenneth Clarke, he is a member of the Bilderberg Steering Committee. He also works for the BBC, earning £47,000 for 28 days work per year.
Ah, one of the illuminati then
BBC News Channel has reported MA’s resignation BUT has forgotten to mention that MA is the the BBC’s most senior Non-Exec Director
- nor its (the BBC’s) news website !!
How strange !!
Agius was going to leave later this year anyway. He’s just a cheap token scalp to appease the stupid lumpen proles.
Move along. Move along.
It IS all going star/pear shaped for Peston and his string-pullers … and not a hundred or so years too soon. Ha! The truth always outs and it is going to about who’s been friggin and a riggin history.
He sounds like a right know-it-all c’unt.
Boy am I glad it wasn’t another telephone conversation I DID NOT MAKE
It is highly likely that Mervyn King knew the LIBOR rate manipulation was going on – it would have been in his interests to keep the rates as low as possible – and ironically in the best interests of mortgage holders too.
There will be a show trial, possibly Bob Diamond will agree to resign as CEO but if that happens he will receive a handsome payoff to keep his mouth shut.
After that everyone will forget about it and the hundreds of trillions in interest rate swaps contracts will carry on as before. We will continue to bail them out – interest rates will stay at rock bottom – savers’ losses will continue to mount – pensions will continue to deflate and it will be business as usual.
The SNP has issued a formal letter asking what brown,darling and balls knew about LIBOR and when and asking edmiliband whether he will bring pressure to bear on these ex labour ministers to publicly tell the truth about their role in this scandl.
There’s a lot more of this to come. No wonder gordon, darling and balls seem to be in hiding!
Thirteen years of lies. It’s all coming home to roost for labour.
More lies will propagate this don’t worry
And there are a “NUMBER of tories” – who ‘were’ given information throughout the Blair / Brown reign of terror; about the whole corrupted Labour party and its MEDIA tenticles – but who chose not to raise a ‘shout’ whatsoever – for fear of offending Rupert who was on the Labour side throughout. [Evidence a plenty exists about the Number of Tories]
Talk about beholden to Murdoch – the shits in the Tory party are as scum as Labour and as scum as Murdoch.
+1
Murdoch has been playing the different factions of the British establishment off each other for years, so good on him I say. That makes you an establishment lackey sir. Now 4X off.
Au Contraire – you don’t know the half of it you numbskull bonehead. Are you a 4×2 troll?
It was all Blair’s fault..we thought he said support New Libor.
Let’s be a bit braver.
Merv knew. Merv was involved. It goes higher than Merv.
The whole of economic policy during the Labour terror was to maximise debt.
Nothing else.
Even I would not touch that
Racist !
I would
Is that Diane Fatbut in the shower. It’s more frightening than anything Hitchcock produced.
The ‘dinner lady’ wings are nowhere near big enough for fatbut
http://franshouseofdollsandtoys.com/Other%20Toys%20Pg%204/RT-21%20-%20pencil%20troll%20-%20cropped.JPG
The Church of Scientology has been added to the list of “core participants” in my Inquisition (did I say that out loud?)– erm, INQUIRY, into the activities of Rupert Murdoch, as it app*ears they have important evidence to give with respect to NI’s nefarious methods of so-called “news” collection. Fortunately, Scientologists being a litigious sort, they have compiled voluminous records on many people and organisations, and we are glad to welcome their assistance in this matter. These hearings, however, will be conducted, not in London, but in Los Angeles, owing to the logistics of the situation; however, it will not cost the taxpayers anything out of the ordinary, as John Travolta has agreed to fly us in his private 707, and we will be housed at the Scientology Celebrity Centre’s guest accommodations.
Show the court where the bad man touched you by pointing to the dolly
Nothing creepy or evil about Murdoch then … OR … does he practice to deceive?
He has form on record and – ‘evidenced throughout his whole effing life’
Murdoch is right. Scientology is a money making racket with menaces. Bunch of weird arsewipe scum.
Wake up FFS – Murdoch and his lieutenants have been making shed loads of dosh out of the schitentologists for years … His scheusters are the key to his undoing.
Ok genius, why is he slagging them off now then?
Oh monkeys!!! – look at the way he shi(f)ts from backing one political set of pygmies to the other DOHHH!!! e.g Labour to Tory. Political Apes.
He maximises his profit whatever over and whoever over he does. He ‘rallies’ in particular – NOTE > stupid dumbass members of the public who fall for the lines that he runs with. He will run with any cause – as long as he can … dupe stupid thicko dumbass members of the public who like sheep oops …. monkeys ‘fall into his deceptions and ‘promote him’. Duuugh DooHHH ….
Go away – you chimpanzieoloon. Even Jacko’s bubbles has more sense than you do. Are you Ed Balls or Kevin Maguire?
i think they got kicked out of France under Sarkozy , Bit like the cult of the euro , all may join but never leave ……………….
I think Murdoch’s comments on Scientology are a disgrace! They’re a decent group of people and they don’t deserve this sort of hate speech!
Seeing that you’ve done US a favor, we’ll do you one; I’ll give you that hand job you’re just dying for, Tom. You know you really want it, and I’m ALWAYS looking for an opportunity to take matters into my own hands, you might say…
Boring Bercow.
Has she any Spanish in her?
I’m sure she has had plenty.
Late one evening John wakes his wife and says, I’m going for a piss. She says WTF are you telling me that for. John says ‘I want you to keep my place’
So you think England’s rubbish then sallyalley?
In which case why are you still here troughing off our taxes?
She keeps parrots you know – never had an African Grey, but she has had a cockatoo. (｡◕‿◕｡)
Gordon Brown cherry picker.
Ed Balls Scissor Lift
Alistair Darling Safety Harness
Ed Miliband (bastard !) Personal Protective Equipment
Is that supposed to be humorous? You need a new script writer Doivid my boy
Or even 11 David Starkeys to 10 Laurie Pennys
or 11 Frank Skinners to 10 David Baddiels
How’s life as an author?
It looks to me like the FSA was pushed out this morning as prep for what washes up on Labours shores in any politico /finance nexus . Of course in any borrowing adventure on the scale Labour managed , you need leveridge and low interest rates . It is my guess that once Labour had allowed certain banks to become overleveridged the next port of call , had to be rates to counteract the suck of the collapse .
The pre facts before Libor became of interest , of course are the total mismangement and lack of supervison , that the body so set up by Labour , was supposed to flag up . Lite touch of course may mean , not being too interested in the “froms and toos” of interbank lending , but it must have dawned on some people that “ammounts” are somthing of a fundamental even for the FSA .
The questions for 2008 perhaps relate as to why the FSA seemed to allow the failing banks to merge leading to the equally more perplexing government bailouts . If the facts of interbank lending and leveridge were present to the then PM , through the FSA , and the dear Old Lady of threadneedle street had little more than a spectators seat , the mergeing of banks prior to the bailout covered up quite a few , how shall I say , practises involving the goverments spending that perhaps they are not so keen for us to understand , as it was a repackaging excercise , to cover for what ever it was they perhaps desired , from overleveridge .
Either way in 2008 the BOE was not responsible for the supervison of banks , the Labour party was , of course its mantra has been to blame the banks , but in the UKs case , Labour knew exactly what the banks were doing , who can forget that curious parliamentry moment when we were told , we could not look at the books of a bank we had just paid for …….
Whilst perhaps this week some will be wanting to pin matters to others but the people who were executing things such as mergers and bailout deals , the ecnomic law of interbank lending will have at some point in Labours rule been on there desks , if it wasnt a topic of discussion , why not ? If it was a concern why was it not limited , sharing the proceeds is perhaps similar to sharing the debt in Labour economic speak . But wasnt it utterly wrong to share such large ammounts of bad debt (steroidal gov spending) , have a personal credit boom , and then watch 50% of the UK banking sector fail and blame it on the very institutions the goverment was soley supervising .
Hasnt the Labour mantra for all these years been little more than trying to make an alternate reality that there policies on interbank lending (EU also) was not growth but a funeral pyre , and they had shot themselves (and us ) in the foot , with theory and actions that are at best not in any good ecnomic text book ,and at worst corruptions to enable a disaster ?.
I mean was labours polcy one of Double your stake after loss , or was it as sensible as they have spun all these years , how much debt was concealed by interbank lending ?? or perhaps what was the safe figure ang why did labour have polices that exceeded this into a large zone of ruin for so many people .
Just remember the BOE was not privy to the same information Labour was nor did it have authority in what actions labour did .
Leverage not leveridge
mmm your right
You’re not your
He’s not his WHAT?
That’s Everage, not Leverage. (Look forward to seeing you at the Eveson inquiry, possum.)
It is obviously time to rid ourselves of Mervyn King.
He is the cause of a triple whammy for savers:
1) Inflation outstripping interest
2) Lowest interest rates since the stone age
3) Currency devaluation through quantitative easing
4) The hidden inflation time-bomb that QE has put in place
and now it turns out he is conspiring to defraud along with the banks.
Ditch him now.
How does having a decent credit rating , and better economy , help your rebuttals case ?
What? The U.K. faces losing it’s AAA rating for the first time in HISTORY. You can’t be a machine, machines are rational.
I perhaps gave it some thought when I said “decent” rather than AAA , we still seem to be doing relatively well , which given what some countries are facing isnt so bad .
Doesn’t this whole Banking & Libor debacle put a whole new perspective on the words:-
Bankrobbers and Bankrobbing?
I passed my heartfelt congratulations onto the Italian Team for their win this evening
I personally scored all 4 goals for Spain by increasing tractor production.
Italy won by scoring +0
Just yesterday I rang the Italian team to wish them well.
Quick get in on the EUROBOR
Come on Italy for tomorrows final !
I can’t wait
If I can predict the correct score can I stay?
Your comment would be moderated for several months if not forever on my schite until I could work out a way of getting my ‘Friends’ to do a ‘get’ on you.
Why have they allowed women into the stadium? Women disturb me. They’re bigoted and female.
But they are available for functions and press engagements though
I should never have been put with that team. Whose idea was that? Sue’s I think.
Should have spoken to me first
We should have tried some Bunga Bunga on the ref!
I’m potty – the proof.
Legalise pot and make the bankers smoke it…that’s wot I say.
Are you Chair of the London Gangs Forum or the London Ganga Forum ?
Well I know nothing about drugs other than they cost an awful lot of money. But then he has his offshore taxfree inheritance so I suppose he could afford it.
Having said that I have read these drugs do permanently affect how the brain works – not sure we want someone with impaired brain function anywhere near the levers of power!
are you saying that those in power do not appear to have impaired brain function?!?
I reckon it’s from Gordon.
Utterly shocking! So difficult to believe that there are such evil wicked people like philly-416 about. Obviously he /she needs identifying and their photo putting all over the web.
Obviously it’ll be someone who is completed wedded to the eu and the euro so likely making loadsa money out of it at our expense.
I just wonder if Rupert is sat pondering , if human civilisation peaked , when we only read in newsprint , the news …………….
I am getting quite interested in the financial result of leaving the EU.
If the UK was to regain its fishing grounds, regain the right to secure our boarders, not have to pay benefits to the rascals who are here but keep their families in mainland Europe, Not have to pay billions over to unelected brurocrats whose sole purpose in life was to invent yet more ways to boss us around: – If we could keep all of the VAT income, if we could tell ‘em to stuff all their rules and regs, It would save us hundreds of billions each year.
Now think of the billions to be saved by way of being out of the Common Ag policy – that alone would help those families deemed to be in ‘poverty’ save what? 40 quid a week?
Now apply all that saved income to tax rebates,with VAT also down to ,say, 10% .
What could we not achieve???
The more I think about it………………………
More importantly we could freely trade with the world rather than failing marxist cartel members.
Yeah, it’s called globalisation, innit?
Yes. I think you should live in North Korea if Juche is your idea of economics.
The problem with any commissioned inquiry into this $hit is that no one has the faintest idea what’s been going on, when or why.
The same goes for any likelihood of any prosecution…about as much chance asI have of being Governor of the Bank of England…wait a minute though…
If you are an intelligent, decent,hardworking,caring,honest sort of person you’re chances of getting anywhere near a job in politics, banking etc are absolutely NIL.
I saved Spain from losing tonight.
Today I won the First Stage of the Tour de France!
You are Kim Jong-il’s not-so-smart brother and I claim my A$5.
Anyone else get the feeling that we’re being f*cked by an uberclass over which we have no control but are perpetually paying for?
“We have been living beyond our means. We have been paying ourselves more than our efforts were earning. We sought political leaders who would assure us that the good times would never end and that the centuries of boom and bust were over; and we voted for those who offered that assurance. We sought credit for which we had no security and we gave our business to the banks that advertised it. We wanted higher exam grades for our children and were rewarded with politicians prepared to supply them by lowering exam standards. We wanted free and better health care and demanded chancellors who paid for it without putting up our taxes. We wanted salacious stories in our newspapers and bought the papers that broke the rules to provide them. And now we whimper and snarl at MPs, bankers and journalists. Fair enough, my friends, but, you know, we really are all in this together.”
I’m not , darlin .
I would fundamentally disagree with that. Many of us did not buy that scenario and warned that the shit would hit the fan sooner or later and for most of us it came later than we thought. But because it came later the problem is much worse than it should have been.
By the way Cameron and Osborne were both complicit in making the problem many times worse than it should be by backing Labour’s tax and spending plans and promising to match them and the real irony is that they are now taxing and spending far more than Labour ever did.
I kept wondering , that if Mathew Paris had hung a few more bits of his rhetoric around the concept of progress , he might have had a eurika moment . But he has come jolly close to identifying the propulsion effect.
I cracked the propulsion effect long ago. In fact, I can feel one coming now.
Just give me a match.
Another here today, here tomorrow journalist states the bleedin’ obvious for the enteenth time. What a pompous prat Matthew Parris is.
By the way, Mr. Parris: The vast majority of people do NOT take a paper and couldn’t give a toss what you think or write; even less that you exist.
Those of us with half a brain, a Proto-Pipe © and a few grammes of Red Leb knew, thirty years ago, that this was all going to end in tears. It wasn’t rocket science then and it isn’t now.
What is of interest, however, is that the clever people have sat back and watched the stupid fuckers run the asylum.
I have no sympathy for anyone that reads your dollop, and I’m feeling generous. Bye.
P.S. I’ve looked at my balls and things are looking quite hairy.
This morning I invented a nutritious breakfast cereal made entirely from recycled A4 paper which will banish hunger from the world entirely.
Oi!! this UFX advert to trade Gold with a “30% Welcome Bonus” Is that what that mad man Brown was chasing when he sold off OUR Gold???
At one time , a tweet like that would have had , a sincere response . I find it very difficult not to see the humour on so many levels on this tweet .:)
Dr Liam Fox , has written a good peice with some nice historic depth of field moments .
There are of course a new band of eurosceptics , brand sensative , ultra device connected , who just dont quite understand how in this happy shiny people kinda world , how these big people of politics allowed so much debt and dysfunctionality to occure , and since 2008 seem to have done so little about it . They probebly also think that some sort of EU 2 will sort it out , which is worrying in this subject as the big words like plebicite or subsiduarity conflict with the daily conversations , even though they vaguely understand it affects them somehow .
As Dr Fox points out the situation has become one of analysing do we want what the EU has now , irreversably , assumed as the end image ? Is a happy ever after tale after all ??. I presume basic sovereign deiplomacy prevents most politcal representatives from calling it a fraud , a deceit . We have nibbled at the edges with , unaudited accounts , expose of fiddles or even the occasional complete wastes of money or marxist nutter speeches . A president is of course an insult to any EU country that has history from before WW2 , as they have a history of there own affairs .
It perhaps once was a nobel endevour to have trade rather than wars , but then you would of course have built a very different feel and interactions , none of this has occured , it has mutated into some sort of marxist political construct , getting averse to questions and election basis , its co op welcome long gone .
The liberals of course are not very good at articulating if marxist modern constructs are really as good as they are sold , have they ever rushed to the TV studio to tell us that ANY of these frauds and wastes going on in the EU is a corruption , come to think of it have Labour ?…… leaving a few brave souls to say “excuse me that isnt quite right ” .
It is as much a serious problem to carry on with the EU as it is to want to leave it or renigogiate it , In my judgement I doubt it is now capable to sort its self out , my hope that in any way they would change course has gone , they have made perfectly reasonable requests seem odd and irrelevent .
They also created some problems which none of us ever even thought we would be denied a vote upon , where immigration is concerned .
Time will tell , if they made too many lies , and I perhaps think getting back powers will spare us , what problems they haven’t answered with enough assurance or thought .
Dr?
Dr of idiots, sorry, for idiots.
Time for the hangings. Nobody cares two hoots for “historical blah blah blah”
There appear rules for the City and others for everyone else.
If there are to be no hangings the tories are dead. Dead forever. Comprehend?
Things are bad out there and society cannot believe cast iron lying Dave is quite as useless and hopeless as he is provong to be with his weasel words. He has no vision. No dream. No direction. Nada.
So vote UKIP. Bring back capital punishment. Sharia Law does have some good deterrent principles.
How about Courtney Law ?
Are there any corrupt banks in the Muslim world, or just corrupt bankers running them?
Have you never heard of the BCCC? Based in Abu Dhabi, it was globally known as the Bank of Crooks Cheats and Conmen before it was forcibly closed down. Lots of Parkees lost a lot of loot too.
Hope that helps.
Or BCCI – perhaps?
Marcus Agius announces his resignation too. That sound you hear is thousands of documents being shredded which would’ve showed he and Diamond were in on the fixing.
Oh look, Censorship-Is-Frequent is letting us have a mini-referendum :
http://www.guardian.co.uk/commentisfree/poll/2012/jul/01/eu-europe-news
Wake up Guido.
Hope to see you at “The Goat & Vasectomy” Public House,where we will fix this mornings LIBOR.
The traditional crate of Guiness will be on me !
Don’t expect anything to be made of this Guido, remember it’s only the fault of rich bankers and the private sector. We have too much freedom!
I have seen that Mr Aguis on my TV this morning.
Why was he not wearing handcuffs?
Who will rid me of this turbulent priest? I found this to be an effective formula for getting things done, trouble is I was found out
LIE BORE?
Hi there just wanted to give you a quick heads up. The text in your content seem to be running off the screen in
Internet explorer. I’m not sure if this is a formatting issue or something to do with web browser compatibility but I figured I’d post to let you know. The design look great though! Hope you get the problem resolved soon. Thanks