Barclays Bank are fined £290m for rigging the market
 

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Sorry: Chief executive Bob Diamond
apologised for the incident and will forgo his bonus this yea

Read more: http://www.dailymail.co.uk/news/arti...#ixzz1z4t6noX5

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"Between 2005 and 2009, more than
200 requests were sent, usually by email
or instant messenger - by traders to the
Barclays Libor submitters.
In one example of several provided
by the FSA, a trader emailed the Barclays
Libor submitter in March 2006,
writing: 'The big day
[has] arrived… My NYK are screaming at me
about an unchanged 3(month) libor. As always, any help wd be greatly appreciated. What do you think you’ll go for 3(month)?'
The submitter replied: 'I am going 90 altho 91 is what I should be posting.'
The trader thanked him, saying: '..when I retire and write a book about this business your name will be written in golden letters"



More to come

Forego his bonus, wow. I am totally dismayed at the arrogance of the Banking industry.

Not all are Corrupt
but this Barclays rigging made them more Cash.
Its Criminal.

So more to come soon on this.

"12.31 Osborne says Barclays is not alone in the interbank lending rate probe and that Barclays and other banks were potentially in flagrant breach of proper market conduct. "

Live on CNBC and Parliament

http://www.telegraph.co.uk/finance/n...ndal-live.html


Link for Kizzy
http://www.guardian.co.uk/business/2...ressure-mounts

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http://www.guardian.co.uk/business/2...ressure-mounts

http://www.dailymail.co.uk/news/arti...ns-attack.html


Will he Go or will he try to stay?


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The Great Artist Steve Bells vision

From Both SkyNewsHD and BBC News

Marcus Agius is to resign as group chairman at Barclays.

They are having to act faster
due to a backlash from UK public.

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Bob has gone this morning
wise of him

Disgusting pigs.

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For Sure Marc

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Stinking New Labour


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"Close links: Shadow Chancellor Ed Balls (centre) cuts the ribbon at the opening of a Barclays branch in Leeds City centre in 2009, leading to fresh questions about his relationship with the under-fire bank"

Remarkably quiet in here considering the amount of lefties we usually have criticising the right.

The government has to take the banks by the balls. They've got away with too much for too long.

Bang On Right Livia

If they are fining a bank, where does the money come from? doesn't the money just come from the customers?? so they are punishing the custmers just as much as the bank itself. they'll just continue using ridiculous fee's to fund this penalty.

Heh, had a bit of a giggle at this

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You know...we used to laugh at my grandad. He kept HUGE amounts of cash at random places in the house (and even out in the greenhouse D: ) because he said we shouldnt trust banks...turns out he was right :laugh:

Whats more remarkable is the fact the government knew nothing of it....allegedly

The only way to make them pay is to close your account and move your money to a local credit union or even a co-op bank i did this long ago.
Stop supporting the bent bankers instead of just moaning about them.

easy for you to say if you have a credit union near you, but i have a credit union account, but there are no branches near me or ATM's for it near me, so i still have to have a local bank that i can actually access.

Most credit unions arn't accessable enuf for people to use them as their main bank.

i use my credit union account as a good savings account, but i still need to have a credit account at a local bank so i can access it regularly and pay my bills.

Yes it might not be as easy for everyone although in the uk if a credit union isnt an option there are quite a few mutuals that are an option. But yes i take your point i dont know enough about banking in the usa to disagree with that.

Places like the co-operative and the nationwide building society that are owned by there members instead of shareholders they practice ethical banking and everybody that holds an account gets to vote on how things are done and who sits on the board of directors.
They stay out of the high risk markets that banks gamble in and they only invest in ethical markets and any profits at the years end are shared between account holders in the form of dividends.

Once the pressure to keep the shareholders happy is removed then so is much of the problem.

edit: @lostalex But yes i take your point i dont know enough about banking in the usa to disagree with that.

Well thats not going to happen


People have homes tied up in Banks
they can not jump ship.



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Criminal Bankers are being Removed
13 Years of Stinking New Labour never helped us.

Ed Miliband back then was advising Brown
to not change the sytem in those days
(ref: Vince Cable Live at the BMW plant , Oxford on SkyNewsHD)

My home was tied to a bank it isnt anymore i got a much better deal from a local building society/credit union they can offer better deals because they arent tied to shareholders that were promised ridiculous profits.

Its easy Arista it really is.
I am also a much happier person knowing that im not contributing to the misery,murder and destruction that the big corps bring via their goverment funding that protects them and allows david cameron to carry out his disgusting arms deals.
But thats your karma not mine enjoy.

The only end to it is to scrap the fractional reserve system but thats not going to happen any time soon the mutuals arent perfect but at least its not funding murder.

Yes you can even join a Islam Bank
that has no corruption.

But Changes are being made,
New Labour failed in their 13 years of power.
They made it Even More Corrupt

Bob has agreed a 18million reduction
for his pay off and is now taking just £2million

Not the massive £20million pay off.

ref: SkyNewsHD, Bloomberg , CNN,
CNBC & radio 5.

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