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Showing posts with the label Libor scandal

£8 miilion salary is "modest".

  http://www.independent.co.uk/news/business/news/8-million-a-year-thats-modest-says-rbs-chief-8490841.html Fury as chairman of shamed bank defends CEO’s remuneration to MPs   Stephen Hester, CEO of  Royal Bank of Scotland Sir Philip Hampton RBS Chairman   Philip Hampton, Chairman of RBS is under the impression that Stephen Hester the Bank's CEO is "modestly" paid with his £8million per year salary. It seems that £8m is less than the going rate for running a crooked bank which has been fined for rigging the Libor rates and has been involved in other seedy practices at the expense if its customers. The British taxpayers who own this bank may have a different view

Laundering is not the only issue.

http://www.independent.co.uk/news/business/news/british-bank-laundered-250bn-for-iran-regime-8010163.html Standard Chartered, one of Britain's most distinguished global banks, has been accused by US regulators of laundering $250bn from Iran and behaving like a "rogue institution", in the latest catastrophic blow to the international reputation of the City of London.   This issue is much wider than laundering $250bn from Iran, and it is not only restricted to American "persecution" of British banks. Whether we agree with the practice of sanctions against Iran or not, (and personally I do not as, in my view, it is the combined interests of Israel and the United States, dictating to the world, to further their own agenda's, but that is another debate),  the Banking "industry" seem to consider themselves to be above the law in their day to day business practices. There are numerous examples of sharp practice or even cri...

Grave crisis facing the international banking sector..

http://news.sky.com/story/960858/exclusive-banks-face-27bn-libor-hit The banks under investigation in the Libor rate-fixing scandal face combined losses of up to $42bn (£27bn).16 banks face a financial hit. These parasite criminals would probably have the audacity to come to the government for another hand out of tax payers money to bail them out of the self inflicted mess. The government should tell them to go to hell or face full nationalisation and permanent public ownership.

Parliamentary Commission on Banking Standards or decorators with whitewash?

  http://www.independent.co.uk/news/uk/politics/banks-inquiry-branded-total-joke-as-key-inquisitors-excluded-7941466.html   The parliamentary inquiry into the banking industry and Libor scandal was branded a “total joke” today after two of the Commons' toughest inquisitors on financial issues were excluded from it. The first step in Cameron's plan to give the bankers a soft ride in the inquiry, Kick the whole thing into the long grass to wait for the heat to die down and then whitewash the city criminals. This first pass in selecting these lightweight committee members,apart perhaps from Andrew Tyrie in the chair, proves beyond any doubt that there has to be an independent judge led inquiry into the whole rotten scandal.