Banking conspiracy

Discussion in 'Politics, Religion, Social Issues' started by jeremy h, Jun 27, 2012.

  1. jeremy h macrumors 6502

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    #1
    The above quote is from the Telegraph but it's being splashed across all the papers at the moment.

    What exactly do bankers actually need to do to get sent to jail? Apparently it's not a criminal offence here.
     
  2. Rodimus Prime macrumors G4

    Rodimus Prime

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    #2
    Problem is that it was systematic so getting the person who did it in jail will be impossible.

    Now I would say the goverment sadly should step in and take complete ownership of the bank. Fire the leadership at the top with no golden parashutte and on top of that force the bank to refund any extra money to its customers.

    This shows there was massive problems.
     
  3. VulchR macrumors 68020

    VulchR

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    #3
    I agree with the OP - somebody should go to jail for this. However, many of the news articles I have read about this imply that prosecutions might come later. It would certainly seem unfair if bankers get away with this while young people committing petty crimes during the London riots (e.g., walking into a vandalized store but taking nothing = 'burglary') are serving jail time.
     
  4. iJohnHenry macrumors P6

    iJohnHenry

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    #4
    They forgot their place in the food chain.
     
  5. niuniu macrumors 68020

    niuniu

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    #5
    You can't even get a banker fired, never mind sent to jail.

    Godsent I guess :rolleyes:
     
  6. oscillatewildly macrumors 68000

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    #6
    Fair enough the rules, meanwhile central banks and politicians manipulate and screw savers out of billions.

    Cheers,
    OW
     
  7. Happybunny macrumors 68000

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    #7
    I of course love these stories, because, I want the European banks to be under very strict rules laid down from Brussels.
    I want one Central bank for all of Europe, with one fiscal system to cover the entire European Community.
     
  8. Queso macrumors G4

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    #8
    I've always viewed Barclays as a contemptible institution, from their lending to arms dealers, their deals with nasty Middle East dictatorships through to their support of the Apartheid regime in South Africa. That they have milked British savers and workers on top of all of this comes as no surprise.

    I hope the Bank of England revokes their license to operate and the whole shebang gets handed to the Co-Op.
     
  9. firestarter, Jun 28, 2012
    Last edited: Jun 28, 2012

    firestarter macrumors 603

    firestarter

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    #9
    What do mainland Europeans know about banking? They certainly can't be trusted to run a common currency.

    Head of the Spanish Banker's Association says that Euro breakup is 'probable'.

    and

    'A backdoor bailout': UK to pledge another £1billion to prop up EU's stricken economy

    The Euro dream is over. Wake up time for you, Mr. Bunny.
     
  10. Happybunny, Jun 28, 2012
    Last edited: Jun 28, 2012

    Happybunny macrumors 68000

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    #10
    People have been talking about the end of the Euro for a long time, I still believe that it will survive.
    The issue of Euro bonds is the answer but that will only happen if Germany under Angela Merkel agrees. She will only agree if there is a complete overhaul of the European countries financial controls. One central bank has to have the oversight and control of the member states financial budgets. This is the main sticking point, when the member states agree the crisis is over, Euro Bonds can be issued. European leaders will only agree to this when they are staring into the abyss. If you think back to early June all the hype about how Greece was going to leave the Euro. Once the leaders in Greece saw the real facts, they did the only thing they could and cut a deal. Even France under Hollande is beginning to see the only way forward is Total European Control over Banking matters.

    That is why stories like the Barclay's is fantastic news it shows that the Banks are still not to be trusted and are still cesspools of greed, this will make the case for greater control easier.

    I do think that there is a small chance that some of the Southern Euro countries will be forced out. But even if that happens the Northern countries will carry on, because there is no real way back.
     
  11. jeremy h thread starter macrumors 6502

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    #11
    For it to work, yes, I agree. One central bank. That means the the little countries like Ireland and Greece allow Brussels to run their economies. But, that also means that Germany has to be prepared to allow Brussels to run their economy. (Merkel's cave in last night is possibly the beginning of this? It's going to be interesting to see how far they're prepared to go...)
     
  12. Happybunny macrumors 68000

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    #12
    I totally agree this is the beginning I hope. They say the first step is always the hardest.

    One thing is for sure it will take a long time. To get 27 countries to agree, but hey the crisis has speeded up the process, nothing motivates like fear.
     
  13. jeremy h thread starter macrumors 6502

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    #13
    While we can agree (like most people who are watching this) on what's needed for it to work, I wouldn't bet the farm it's going to work. I really don't think it's going to. The easy'ish bit is done, the little countries have taken the loss of sovereignty but are the Germans and French prepared to? We'll see...
     
  14. Happybunny macrumors 68000

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    #14

    At the risk of repeating myself, when the leaders look into the abyss, they will.

    Fear is the greatest motivator in this crisis, both Germany and France dare not let the Euro fail. There is simply put now real way back.
     
  15. Happybunny macrumors 68000

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  16. niuniu macrumors 68020

    niuniu

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    #16
    Most sickening quote was in the pre news about this yesterday from a whistleblower. Basically his boss told him (about the swaps)..

    'Basically we give them an umbrella, and when it starts to rain, we take the umbrella away'

    Absolute vermin..
     
  17. Queso macrumors G4

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    #17
    Meh. That's related to the Payment Protection mis-selling rather than the outright fraud of the Libor manipulation. I wouldn't be surprised if that is being deliberately put out by the banks to divert attention away from the bigger story.
     
  18. oscillatewildly macrumors 68000

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    #18
    Trust, cesspools of greed:

    Unlike the politicians who turned a blind eye and battered democracy to push their project. :rolleyes:

    Have fun with Europa.

    Cheers,
    OW
     
  19. Happybunny macrumors 68000

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    #19
    I really do think that most of us understood what was going on, the politicians can be voted out. But the bankers just stay put no matter how much they make a mess.

    I really hope that the UK gets it's referendum, votes overwhelmingly NO and leaves.
    It would suit the UK and definitely suit the rest of Europe.
    President Charles de Gaulle saw British membership as a Trojan horse for US influence and vetoed membership, we should have stayed with this idea.
     
  20. Queso macrumors G4

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    #20
    It would not suit the UK. It would suit those that wish to turn the UK into the US, but that wouldn't benefit the British people. Far from it.
     
  21. Sydde macrumors 68020

    Sydde

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    #21
    Our society is inverted. The richest and most powerful among us do nothing but move money around, contributing little. Why should banking and finance be private for-profit business? Any business that does nothing but move money (this would also include insurance) should be non-profit, restricted to 1% overhead WRT to the funds they channel.
     
  22. Mousse macrumors 68000

    Mousse

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    #22
    That's because Banker own da Gub'ment.
    [​IMG]
     
  23. oscillatewildly macrumors 68000

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    #23
    Politicians voted out, bankers and others re finance are sacked and made redundant. It seems they stay put because it's often 'Meet the new boss...'. Some shenanigans at lower level is to be expected, the nature of the politician, but rejecting 'No' is unacceptable.


    Not just that, the 6 should have stayed the 6. The arrogance of 'Only when you are a member of the club - and oblige us, are you truly European.'. And the BS re stopping war.:rolleyes:

    Nor being mesmerised by Europe - a wider world.

    Cheers,
    OW
     
  24. Happybunny macrumors 68000

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    #24
    But there is a lot true with that statement, Britain has never felt a part of Europe. The way you viewed the world then as now is very different to the rest of Europe. Your overly close tie with your Commonwealth, and the the US, made you look always in two directions.
     
  25. Happybunny, Jun 30, 2012
    Last edited: Jun 30, 2012

    Happybunny macrumors 68000

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    #25
    As to the so called BS of stopping wars.

    Schuman declaration
    The Schuman Declaration of 9 May 1950 (later known as Europe Day) occurred after two Cabinet meetings, the proposal became French government policy. France was thus the first government to agree to share and grow sovereignty in a supranational Community. That decision was based on a text, written and edited by Schuman's friend and colleague, the Foreign Ministry lawyer, Paul Reuter and with the assistance of Jean Monnet and Schuman's Directeur de Cabinet, Bernard Clappier. It laid out a plan for a European Community to pool the coal and steel of its members in a common market.
    Schuman proposed that "Franco-German production of coal and steel as a whole be placed under a common High Authority, within the framework of an organisation open to the participation of the other countries of Europe." Such an act was intended to help economic growth and cement peace between France and Germany, who were historic enemies. Coal and steel were vital resources needed for a country to wage war, so pooling those resources between two such enemies was seen as more than symbolic.[2][3] Schuman saw the decision of the French government on his proposal as the first example of a democratic and supranational Community, a new development in world history.
    The plan was also seen by some, like Monnet, who crossed out Reuter's mention of 'supranational' in the draft and inserted 'federation' as a first step to a "European federation".


    To all those in the UK who say they did not know what the end result of joining the ECC back in 1973.


    http://en.wikipedia.org/wiki/European_Coal_and_Steel_Community

    I wish we could have stopped wars, back in March 2003 when team US/UK launched an illegal invasion.
     

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