bob diamond resigns

"Right love, pack your bags, we're off to the states, because the **** is about to hit the fan and we're jumping ship now!"

The cynic in me thinks that perhaps there's even more worse news to come if he's resigned.
 
There's a 6/1 odds on this guy being his replacement Rich Ricci - Seriously, these stuff cannot be made up.

Anyway, all jokes aside, bankers aren't to blame for recession but their greed knows no bound. Despite being bailed out by taxpayers, they still continue their usual tricks and to manipulate and essentially, defraud the system... that's just taking the biscuit now.
 
That's business, that's capitalism, that's whatever you want to call it, but most importantly - that's why free markets don't work. Give people freedom to trade however they want, and the first thing they'll do is cheat either the public revenue, or other members of the market. Or both.
 
Dj_Jestar said:
That's business, that's capitalism, that's whatever you want to call it, but most importantly - that's why free markets don't work. Give people freedom to trade however they want, and the first thing they'll do is cheat either the public revenue, or other members of the market. Or both.
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Absolutely - thank Thatcher and various politicians ever since who go on about 'cutting red tape' and 'freeing industry from unnecessary regulation'.
This is what it leads to.
 
Castiel said:
Hardly the shock of the week.....
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Next non-shock, the yapping that follows the announcment of how much cash he'll be walking away with, and share options he will be offered...

Binding contracts with non 'retard' clause. Still amazed major organisations don't have something along these lines as standard.

Has Ed Milliband called for an enquiry yet?
 
Mr Jones said:
Anyway, all jokes aside, bankers aren't to blame for recession but their greed knows no bound. Despite being bailed out by taxpayers, they still continue their usual tricks and to manipulate and essentially, defraud the system... that's just taking the biscuit now.
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Obviously you do realise that most of these LIBOR fixings happened prior to the bail out though...

Not sure whether this is good news or bad news yet. Obviously someone had to take responsibility, but I'm pretty sure that should be the traders responsible of the necessary Head of Capital Markets/Trading/Rates.

Having the guy who built Barcap into such a player in the market exit stage right, and therefore leaving them wide open, isn't probably an ideal situation. Could see Barclays really struggle to deal with this over the next 18 months.
 
Hikari Kisugi said:
Next non-shock, the yapping that follows the announcment of how much cash he'll be walking away with, and share options he will be offered...

Binding contracts with non 'retard' clause. Still amazed major organisations don't have something along these lines as standard.

Has Ed Milliband called for an enquiry yet?
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Not sure he will need a golden handshake. His pay and bonuses in the 6 years he worked there is more than £100m anyway.............:rolleyes:
 
I see the whole 'this is a new start for banks HONEST!!' spiel has already started. We see this happen every year. Bank does dumb thing, promises not to do it again, bank does another dumb thing, etc.

It's the same with the government. Government does dumb thing 'new start HONEST!!', promises not to do it again, does another dumb thing right after...

Nothing changes it's just a merry go-round. Barclay's 'massive' fine is being paid to the FSA, who will give the money back anyway (the whole point of FSA is to fund the banks and literally maintain the status quo). That's why Osbourne just had to put his dumb-ass face on this morning and make an empty promise to the proles that the fine money is being put to good use. He's obviously lying anyway, but it's standard procedure for politicians to go 'we're sorry!!! We'll fix it, promise!!!' while doing absolutely nothing.
 
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