The great banking scandal(s)

I'm waiting to see what Ed Balls has been up to! He was squirming yesterday and hotly defending his position - 'I wasn't even there when it happened, guv!'

It's no wonder we get depressed sometimes! Is there any organisation or company out there which is not trying to rip us off in some way?

I think there will have been lots of sleep lost last night wondering who is next and waiting for the house of cards to fall down around their ear's.

Can't wait to see what Diamond has to say to the Committee today. He is a street fighter, by the sound of things.

Damn! I thought this thread was called The Great Baking Scandal and was hoping Mary Berry had run off with Paul Holloway. Must put my specs on.

He'll come out 'guns blazing' ...attack being the best form of defense. He'll give out so much 'information' that the questioners will not know where to go first!! After all he's already 'gone for' the Bank of England.

Did I hear this morning that he'll leave with a £20 million 'handshake'?

£20 million was an estimate - I think I heard another 'guesstimate' of around £27m. Does he need it? Does anyone?

I am absolutely furious that he's getting any sort of 'handshake'! Handshake for what? What has he done that deserves any sort of pay-off?

merlot that made me smile.

It is my opinion that society as a whole is to blame. It seems to me that nothing is 'wrong' anymore unless you get caught.

How many people will pay cash to get a service done cheaper? Is that any different? Fare dodgers? I saw a girl in The Netherlands recently get on the bus, go several stops and then swipe her 'oyster' card. Overstay a meter, not pay and display.

If you were over changed, would you tell the store? If something had not been charged for, would you tell them?

Many years ago I was in Boots buying quite a lot and put the big bag of nappies over the handle of the puschair and it was only when I got home that I realised I hadn't paid for them. Next time I was in town I went in and told them and was treated like a criminal!

I'm quite glad they manipulated the libor interest rate when it to stop the bank failing and to help the UK monetary situation.

Not when they did it to help themselves though.

I like Diamond Bob.

I find it truly disgusting that this man has been allowed to get away with what appears to be legalised fraud !

As a small business customer of the dreaded Barclays it saddens me that they rip customers off left right and centre with inflated charges and "account fees" and you have no choice but to put up with it. It is virtually impossible to change banks as none of them really want small businesses on their books (they simply don't make enough out of us)and they are all much the same anyway.

On a slight tangent it puzzles me as to how much money is enough for these type of people? 10 million, 20, 100, 500 million?

I can't think of many ordinary people who wouldn't love a little bit more but this kind of greed is obscene.

Diamond at the Treasury Select Committee at 1400 today, I think.

You are right Greatnan, it did happen on Labours watch. 2005 - 2009?

Why would a judge-led enquiry be the right thing?. It will take too long, the imperative thing to do now is get some sort of faith put back into the banking system A.S.A.P. A judge - led inquiry will tell you what is already known, it is not like Leveson where facts had to be established.

The Vickers report must be put into place as soon as possible and the government are putting a lot of new measures in place already. In January next year a Bill looks set to be passed for more regulation to come into force. If it takes that long to get a Bill through what would a judge - led inquiry do to the process, put it back years. With the right people on the Parliamentary Committee under Andrew Tyrie it will be given the power to listen to evidence on oath. Not that that means anything to be frank, as we have seen at Leveson, just a cherade.

If Cameron wanted to 'get' Labour he could have gone along with a judge - led enquiry. It will all come out in the wash I am sure, the media will ensure that.

Off to watch Bob Diamond now, hopefully on T.V.

I wish I could share your confidence in the media, Pogs. What makes you sure that everything will come out?

Greatnan.

Because they want to get their own back and it is more important than anything phone hacking created to cause problems for the country.

Actually it was quite boring to watch but that's because they have already been found guilty and it is known what happened. The only news to come is who the other banks are and who, if anyone, is involved from Labour or The Bank of England and F.S.A.

More to come, especially as this will affect our economy once again, never b----y ends.

I think this will get more intereting next week when we hear from the deputy gov of the bank of England. It sounds to me like he gave a nod and a wink! Probably a good thing too under those circumstances at that time.

No excuse for what they did whilst still in the boom years though. That was just for profits.

I think the banks should have been more tightly regulated, but I find it a bit bizarre that people think that they couldn't possibly have been expected to behave honoroubly and regulate themselves. For the Conservatives to blame Labour for light regulation is breathtakingly hypocritical; they were always saying that there was too much.

No one ever seems to mention the auditors when they talk of what the banks get/got up to. Surely it is their job to see that the company is operating properly? I certainly had to have evidence that my team were performing according to the rules.

So.....the bank gets fined, but not the individuals responsible. Who suffers in that situation? - not the guys walking away with their millions of handshake money that's for sure. They can shake my hand any day and let a few quid rub off!

What do they want all that dosh for anyway? - I would not know what to do with it. Sickening.

Aren't the Fraud Squad getting on to it next?

That should be interesting.

Good point mishap

Actually I would know what to do with it. now I wonder what that says about me!?!

I am not sure I entirely agree with everything she says, but I found this article interesting.
www.guardian.co.uk/commentisfree/2012/jul/06/britain-bankers-press-politicians-deserve