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Not satisfied with causing a world slump through dodgy money lending and the off loading of toxic debt to each other, the banks are at it again. Barclays takes a blast from - and I had to wipe my eyes when I saw this - a Tory prime minister of all people. Make no mistake, the banks are an intrinsic part of the Establishment.....or where up until now it seems. There comes a point when the rules cannot be bent any more than they already have and would be transgressors find themselves sliding into the area of unlawful acts. A varying number of triggers can cause it like arrogance and greed through to blinkered and blind wilfulness to carry on regardless of the consequences with performances bonuses often being the poison in the well.
But my point is this - if the people running banks are prepared to turn a blind eye to malpractice, it doesn't auger well for the future. There used to be men of principal running these organisations and others like them. In today's culture of grab it, dodge it and run, one could be forgiven for being concerned as to what the future might hold.
http://www.bbc.co.uk/news/business-18622264
I notice that the misreporting was done at the behest of....the derivatives flunkies yet again.
Without abdicating management of their legal and ethical responsibilities, the derivatives departments really do have their sticky amoral fingers in every cess-filled pie. The sooner the authorities force the separation of the 'banking' parts from the trading parts the better.
Poor old John Major hardly ever gets remembered...
This country has been systematically shafted by all parties since WW-2 and earlier. None of them have ever put the British people first.
and Ed "Wallace" Milliband is having a "Grand Day Out" of it.
But of course none of these heinous activities took place whilst the economy was under the stewardship of Blair and Brown (oops -
Quote: The bank had acknowledged on Wednesday that its actions between 2005 and 2009 had fallen "well short of standards
of course they did! )
Quote: John Major, you know... the puppet ..
http://www.youtube.com/watch?v=OyU8qmzGsEg
About the only thing he is memorable for is being forgetable (and his fling with Ms Currie)
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