just john Posted July 4, 2012 Share Posted July 4, 2012 The Bank of England told us to do it, claims Barclays , Is there no end to Labours profligate perfidy?''HMD - Hold my Dick/ Daughter Nell Diamond tweets! - What a lovely girl[:$]The Deputy Governor of the Bank of England encouraged Barclays to try to lower interest rates after coming under pressure from senior members of the last Labour government, documents have disclosed. The-Bank-of-England-told-us-to-do-it-claims-Barclays Link to comment Share on other sites More sharing options...
Quillan Posted July 4, 2012 Share Posted July 4, 2012 [quote user="just john "]The Bank of England told us to do it, claims Barclays , Is there no end to Labours profligate perfidy?''HMD - Hold my Dick/ Daughter Nell Diamond tweets! - What a lovely girl[:$]The Deputy Governor of the Bank of England encouraged Barclays to try to lower interest rates after coming under pressure from senior members of the last Labour government, documents have disclosed. The-Bank-of-England-told-us-to-do-it-claims-Barclays [/quote]Not Mr "no more boom and bust" by any chance.When Blair came to power and basically cut government ties with the B of E he was a shrewd cookie. It meant that what ever happened he could turn round and say "not me mate, it's the B of E". Link to comment Share on other sites More sharing options...
woolybanana Posted July 4, 2012 Share Posted July 4, 2012 Now that he is unemployed, I wonder if Mr Diamond would care to become Chancellor of the Exchequer. he is just the sort of aggressive, go-getting person needed to lift UK out of the mire and not to take any flabby nonsense from professional politicians on the way. What a talent he could be! Link to comment Share on other sites More sharing options...
just john Posted July 5, 2012 Author Share Posted July 5, 2012 [quote user="woolybanana"]Now that he is unemployed, I wonder if Mr Diamond would care to become Chancellor of the Exchequer. he is just the sort of aggressive, go-getting person needed to lift UK out of the mire and not to take any flabby nonsense from professional politicians on the way. What a talent he could be! [/quote]Seems a good idea, has more acumen than some . . . /Bob-Diamond-Labour-knew but I knew nothing [:D] Link to comment Share on other sites More sharing options...
Rabbie Posted July 5, 2012 Share Posted July 5, 2012 [quote user="woolybanana"] Now that he is unemployed, I wonder if Mr Diamond would care to become Chancellor of the Exchequer. he is just the sort of aggressive, go-getting person needed to lift UK out of the mire and not to take any flabby nonsense from professional politicians on the way. What a talent he could be! [/quote]WB, easy for you who live outside the UK to wish our national finances to be run by someone who is either a knave and a liar if he knew what was going on at Barclays or a fool if didn't know. In his role he should have been aware of what his staff were doing and put a stop to it. Besides with his settlement package of a mere £20 to £30 million I don't suppose he needs another job yetawhile Link to comment Share on other sites More sharing options...
Frederick Posted July 5, 2012 Share Posted July 5, 2012 What I want to know is .Who in Whitehall was making threats to nationalise Barclays at the time of the bank bail- outs . Did these threats influence their thinking and course of action. Will we ever know unless he who askes the questions has some clout behind him and the answers come from somebody who fears going to jail ?. Link to comment Share on other sites More sharing options...
Quillan Posted July 5, 2012 Share Posted July 5, 2012 Come on Rabbie Barclay has over 140,000 staff do you seriously think he would have known what they were all up to. There will be a whole raft of managers between him and 'the pointed end' as it were then department heads etc, etc. His job is to ensure the bank makes money for its share holders, that's the people that actually own the bank, perhaps we should make them accountable as well? He would have know knowledge on a day to day basis of what each department and division was up to only what their targets were.Diamond gets results, he has made Barclays a world player. People are already lining up to offer him a new job. The people who should be hung out to dry are 'Wallace" and his mates as all this happened under their watch and there appears to be very clear proof that the Labour party were complicit in what happened. Link to comment Share on other sites More sharing options...
Rabbie Posted July 5, 2012 Share Posted July 5, 2012 Q, Yes I do think he should have known what was going on especially if as you say the Labour party was complicit. That would make it a top-down policy not the action of a rogue trader.He is responsible for what his staff do just as a government minister is responsible for the actions of his ministry (and of his special advisors).Fred Goodwin also got brilliant results at first with RBS but I still wouldn't want him as a government minister either. Link to comment Share on other sites More sharing options...
just john Posted July 5, 2012 Author Share Posted July 5, 2012 [quote user="Quillan"] His job is to ensure the bank makes money for its share holders, that's the people that actually own the bank, Diamond gets results, he has made Barclays a world player. [/quote]I'm guess we'd all be curious as to who did what to whom with which, but for the reasons above I'm sure they'll close ranks to protect the brand and blame a few loose cannons; why not indeed? I for one wouldn't like to go through the whole bank collapse again. It's not the first time Labour have moved to manipulate the market either, . . why-gordon-brown-sold-britains-gold-at-a-knock-down-price/ Link to comment Share on other sites More sharing options...
Pickles Posted July 5, 2012 Share Posted July 5, 2012 I'm plagiarising something that I have seen written a few times recently: thank heavens that our banks have been paying so much in salaries and benefits to attract the very best people: just imagine how bad the situation would be if they'd gone for cheaper, second-raters! Link to comment Share on other sites More sharing options...
woolybanana Posted July 5, 2012 Share Posted July 5, 2012 Great Bobo in a Bucket, you don't mean some of those Labour MPs who tried to regulate them, with, at their head, Mr Balls! Link to comment Share on other sites More sharing options...
Rabbie Posted July 5, 2012 Share Posted July 5, 2012 [quote user="Pickles"]I'm plagiarising something that I have seen written a few times recently: thank heavens that our banks have been paying so much in salaries and benefits to attract the very best people: just imagine how bad the situation would be if they'd gone for cheaper, second-raters![/quote]ROFL [:D] Link to comment Share on other sites More sharing options...
Quillan Posted July 5, 2012 Share Posted July 5, 2012 [quote user="woolybanana"]Great Bobo in a Bucket, you don't mean some of those Labour MPs who tried to regulate them, with, at their head, Mr Balls![/quote]Gosh that's the one Wooly, go to the top of the class. They are also the ones that didn't just have one group to regulate the banks and financial institutions, not even two but a grand total of three. Trouble was their phone numbers were ex-directory so they never got to talk to each other except on Friday lunch when they all met down the pub for a beano. Problem was they got so p*ssed they forgot what they had talked about so they still didn't manage to communicate with each other. Mind you they all got lots of jollies to the good old US of A to see how banking was done properly, business class of course, all paid for by the tax payer.What "Wallace" was shouting at PMQ's the other day when he quoted part of Cameron's speech where Cameron said he was going to remove some of the regulatory bodies he forgot to continue with the bit about Cameron wanting just one body with far greater powers and the 'ring fencing' of high street banks. I liked Camerons comment about cheese but "Wallace" just didn't get it and asked what cheese had to do with it! Sad thing is I heard on the tele that quite a few pension funds had invested heavily in Barclays because their shares had been doing quite well, not any more they ain't. [:(] Link to comment Share on other sites More sharing options...
powerdesal Posted July 6, 2012 Share Posted July 6, 2012 ''The Deputy Governor of the Bank of England encouraged Barclays to try to lower interest rates after coming under pressure from senior members of the last Labour government, documents have disclosed.''I have not followed the Barclays saga but taking the statement above as being true - what is / was the problem ? The Govt effectively are / were saying to Barclays '' your loan interest rates are a disincentive to industry, can you see a way to reduce the rates and help stimulate business expansion'' Surely there is absolutely nothing wrong with that, in fact it's what a responsible Govt should do ( it would have been the ONLY responsible thing by that particular Govt but that's by the way.) Link to comment Share on other sites More sharing options...
Frederick Posted July 6, 2012 Share Posted July 6, 2012 Now the SFO is to launch a fraud investigation so we will see in due course who did what . Link to comment Share on other sites More sharing options...
Quillan Posted July 6, 2012 Share Posted July 6, 2012 I saw this on the news tonight. Assuming that there is no political interference I think this is the best way forward. Making false claims about interest rates is clearly fraudulent. I bet there are few twitching *rses tonight and quite rightly so. Of course I suspect that any Labour MP's involved, past and present, will try and claim some form of protection via the H of C. Then of course Cameron will remove any protection much to the pleasure of his party members and of course Wallace will start jumping up and down. Interesting times ahead. Link to comment Share on other sites More sharing options...
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