Posts Tagged Barclays
English Banks are Quivering
Posted by argentumvulgaris in America, Global economy, Politicians on June 28, 2012
Barclays: Cameron says bank faces ‘serious questions’
Prime Minister David Cameron has said that Barclays Bank management has “serious questions” to answer over how it manipulated banking lending rates.
Barclays was fined £290m ($450m) after an investigation into claims that several banks manipulated the Libor rate at which they lend to each other.
The Chancellor George Osborne confirmed that HSBC, RBS, Citigroup and UBS are also under investigation.
The scandal hit Barclays shares, which ended Thursday trading down 15.5%.
Other banks shares fell as well, with RBS losing 11.5%, Lloyds down 3.9%, and HSBC giving up 2.6%.
Barclays had acknowledged on Wednesday that its actions between 2005 and 2009 had fallen “well short of standards”.
Investigators say that Barclays’ traders lied to make the bank look more secure during the financial crisis and, sometimes – working with traders at other banks – to make a profit.
‘Who was responsible?’

// David Cameron: “The whole senior management team have got some big questions to answer”
Mr Cameron said “the whole management team have got some serious questions to answer. Let them answer those questions first.
“Who was responsible? Who was going to take responsibility? How are they being held accountable?”
Business Secretary Vince Cable said that while it would be “seriously premature” to decide now whether Mr Diamond should be sacked, he added that the Government did have powers to disqualify directors.
“If the facts suggested action – and obviously we would be subject to legal advice; this is a legal process – then indeed that could well follow,” he said.
In a statement to the House of Commons, Chancellor Osborne said: “The FSA report is a shocking indictment of the culture at banks like Barclays in the run-up to the financial crisis.”
Source: BBC News Read more
Opinion:
Looks like the English have got the banks quivering.
In America the banks have the government quivering.
’nuff said!
Banner from the original blog
"You take the blue pill, the story ends, you wake up in your bed and believe whatever you want to believe. You take the red pill, you stay in Wonderland, and I show you how deep the rabbit hole goes." - Morpheus
- Join 906 other followers
Crap has reached these parts of the world
visited 63 states (28%)
Create your own visited map of The World or Like this? try: Word ColorUpdated 21 December 2011Blog Stats
- 22,404 hits
Political Rhetoric
Latest Crap to Hit the Fan
- Putin’s Fantasies July 22, 2022
- Snoopy on Putin July 6, 2022
- A History Lesson for Putin July 2, 2022
- Scared… Shit Scared July 2, 2022
- Turkey will Remain Turkey June 3, 2022
- I am Appalled, Shocked, Totally Pissed Off May 27, 2022
- Lavrov Full of Shit… again May 3, 2022
- How stupid is Stupid? May 2, 2022
- How Putin sees himself May 1, 2022
- A Dictator April 30, 2022
Clouded Issues
11 Sep America American Spring Arab Spring Asia Brazil censorship Climate corporations Crime & Law Drugs Global economy Globalisation Health Horror Stories Middle East News Occupy Wall Street Philosophy Political Humor Politicians Rainforest Satireday Saturday Satire South America Sports Uncategorized Unexplained United Nations WikileaksBlogroll
- Eco-Crap My blog for all things green, eco & environmental
- Life is a Labyrinth My personal blog, boring stuff, etc
- Nether Region of the Earth III My fun blog
- They Say it's in the Genes My philosophical rantings and observations on life
- Things that Fizz & Stuff My blog about things you eat & drink
- Tomus Arcanum My Book of Secrets
International Newspapers
- ABC News American news
- BBC News English
- China Daily Mail China Trade and General News – In English
- Christchurch Press New Zealand
- Financial Times International News
- New Zealand Herald Auckland, NZ
- Peruvian Times English language Peruvian news
- The Guardian English
News Blogs
- Addicting Info The Knowledge you Crave
- ANU News An eye on the American situation
- CrimeDime The CrimeDime is the information bank, the snitch hotline, the inside track on crime, criminal justice, and criminology
- Hugo Banter's Emporium of Rants I have my opinions… and you are entitled to them
- Melanie Phillips She is best known for her controversial column about political and social issues
- Old Lady in Combat Boots Political activist and all-around troublemaker. This is my blog
- Running 'Cause I Can't Fly What the news doesn’t tell you
- Standing for Liberty in America Just a citizen burdened for the restoration of the America
- The American Dream The American Dream Is Quickly Becoming The American Nightmare
- The Grey Enigma … dispatches from pretty darn close to the edge.
Political
- Angry Black Lady Chronicles Tirades and Tumors from my Busted Mind Head
- Daily Paul Dedicated to Restoring the Constitutional Govt of the USA.
- SimplePolitiks As I write this my nation’s government is approaching a precarious time:
- Talk and Politics Culture, politics, people, other things
Understanding
- BlogTruth Where Liberty is, there is my country
- Facts For Working People How the system affects you at work, school or home
- From the Fourth Corner Global politics and my opinions on them
- No Ulterior Motive What a curmudgeon thinks about, when he has time to think
- One Fell Swoop Just a guy who likes to talk about politics, philosophy, theology, culture, technology and, you know, stuff. And junk.
- S-L-M: Peace Promoting understanding and peace between the West and the Middle East
- Under Dogs Bite Upwards Strong Opinions & Comments
- Waleed Fareed I’m far from an open book but what I’m willing to share will be on this blog
Lovely Surprises