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[Varche]

Integrity. World banking centre.

What Britain? Just how deep does the scandal, for that is what it is, of bank rate manipulation to make even more profit/bonus. Barclays have been fined but so what. Their execs have foregone their bonuses. Just how high up the command structure was this dishonesty being sanctioned? Will we ever find out? Will anyone be sacked? ( of course not, no one ever is)

Does it matter after all the banks are our lynchpin of the GB economy? I think it does. Everyone has been paying too much for their mortgages, bank loans etc. Will you get a refund? Will hell freeze over?

http://www.bbc.co.uk/news/business-18622264

[albitz]

It would appear that it may well have been going on,on a global scale. It could be a case of"they were all at it".
At face value,it would seem obvious that Bob Diamond shouls fall on his sword,although if he does the CEO of most of the worlds major banks might have to follow suit,and that might cause global meltdown.
Absolutely disgraceful though.

[horsecow]

People used to be encouraged to put they're money into banks so it would be safe from thieves, looks to me like all the thieves have switched sides and are now working high up in the bank stealing more than ever.

[Rods2]

Once it was uncovered, there should have been an immediate police investigation and the guilty parties prosecuted.

Why are Gbanksters, immune from prosecution for their crimes. The only answer I can come up with is political collusion, where the politicians when they retire from public office don't want to upset them and miss out on their millions as executive directors etc. If this is true then it is a damming incitement of politicians and big business in this country. 

On reflection, I guess this is no surprise with senior politicians from the two major parties both queuing up to stick their noses up Rupert Murdock and other key News Corporation's staff behinds. 

This latest scandal goes right to the absolute core of the banking system and show the banking system is purely there for the banks to grab as much off the mugs customers for doing as little as possible, where in a modern society it is very difficult to manage without a bank account.

It is time that there was a public inquiry into what has happened in the banking industry, which also encompasses the BOE, FSA and politicians. We cannot fix these failures without clearly understanding the problems.

The collusion continues, where QE provided the banks with very cheap money and in return the big few all put up their mortgage rates, where they are a cartel. That was an exercise in widening margins and boosting profits and bonuses, NOT due to the lies in their PR about it being more expensive for them to borrow money. 

[Varche]

Well said Rods2.

This is actually one of the biggest scandals for years BUT very little will happen as there is too much big business and politicians greed involved. At the end of the day it is only the drones (man in the street) that pay and they are poweless to do anything. Our attention will be drawn away from this by something the man in the street can understand. Murderer on the run, flooding, fuel tax.........

Like I said before, no integrity whatsover. There was a time when being a bank manager was a respected job. That was in Captain Mannerings time of course. Things have moved on since then.

[Rods2]

There is a e-petition call for a public inquiry, which I have signed.

http://epetitions.direct.gov.uk/petitions/35421

[Varche]

Signed. Thanks. Took 3 goes at the captcha- what idiot designed those!

[Field Marshal Dr. Opti]

Disgraceful, but then we are talking about banks and bankers.

Bob Diamond should go.......along with the odious Angela Knight who takes no responsibility whatsoever.

[STMO123]

Well said Rods2.

This is actually one of the biggest scandals for years BUT very little will happen as there is too much big business and politicians greed involved. At the end of the day it is only the drones (man in the street) that pay and they are poweless to do anything. Our attention will be drawn away from this by something the man in the street can understand. Murderer on the run, flooding, fuel tax.........

Like I said before, no integrity whatsover. There was a time when being a bank manager was a respected job. That was in Captain Mannerings time of course. Things have moved on since then.

That's Captain Mainwaring. You've been too long overseas boy. 

[Nickbat]

I agree with much of what has been said on here already. there are two distinct problems. Firstly, and this is endemic in today's society, when probity is in the way of making a buck, probity goes out of the window. It's not the political system, per se, but rather a nation with no moral compass - where success in life is not measured by one's personal qualities so much as how cash and bling you have and display. Wherever you look, those who were once revered as being in fine, upstanding positions have shown to be ruthless and self-serving.

Secondly, we have a problem of crony corporatism where the political class are far too entwined with the rich and powerful.

Bring criminal charges and let's rid ourselves of these vermin.     

[Field Marshal Dr. Opti]

I agree with much of what has been said on here already. there are two distinct problems. Firstly, and this is endemic in today's society, when probity is in the way of making a buck, probity goes out of the window. It's not the political system, per se, but rather a nation with no moral compass - where success in life is not measured by one's personal qualities so much as how cash and bling you have and display. Wherever you look, those who were once revered as being in fine, upstanding positions have shown to be ruthless and self-serving.

Secondly, we have a problem of crony corporatism where the political class are far too entwined with the rich and powerful.

Bring criminal charges and let's rid ourselves of these vermin. 

I fully agree with Nick (that's twice since 2008 now )

On the other side of the pond these guys would be led away in cuffs, sobbing. Here in Blighty you and I would be led away in cuffs, sobbing. But it appears that these guys are above the law (and they know it)

However there may well be some nasty civil actions winging their way across the Atlantic, as we speak.

[Sir Tigger KC]

I was watching 'This Week' last night and Micheal Portillo made a good point that Pakistani cricketers get sent down for rigging a game, whereas bankers who have rigged interest rates with far reaching consequences will walk free!!! 

[Dishevelled Den]

Well, if you insist upon – or are ambivalent about - giving people carte blanche, can one ever be surprised if they decide to take full advantage such an opportunity?

The firm underpinnings of a stable, elected government should lie beneath the walls of our parliament at Westminster, instead what we have is an institution resting on foundations of sand and at the mercy of people and other groups out for their own benefit - irrespective of the consequences.

It’s a fitting testament to the irresponsibility, the blatant self-interest, the display of greed and avarice now considered (evidently) to be the accepted way of doing business in this nation and, furthermore, should be an unambiguous message to those more interested the general bill of fare served up by our print and broadcast media that the rot, now pervading every level of our society, will eventually destroy it.

The problems stem from those masquerading as government in Westminster – address those problems and at least we will have a fighting chance of getting this country back on course.

[Rods2]

I think part of the rot is that our Government has all the powers and responsibility of a town council where 80% of UK law is based on EU directives, which pass through Parliament on a nudge and a wink without any proper debate. 

We no longer live in a democracy, where our Government has the power to govern the UK. The politicians have given something away to the EU which they had no right to do and the sooner we reclaim those powers, so we are a democratic self governing nation again the better.

The buck for bad Government and Governance will then stop at Westminster's door, rather than them hiding behind the Brussels smokescreen of the EU dictatorship. 

Vote UKIP.

[Rods2]

An interesting and very readable story where a few junior execs at some banks and brokers in the US took the rap for corruption and big profits on a massive scale. 

This corruption want on for over 10 years, with the banks getting compared to the extra profits they must of made, just nominal fines. 

http://www.rollingstone.com/politics/news/the-scam-wall-street-learned-from-the-mafia-20120620

Once the chain started to move up towards senior bank execs and their links with politicians, the trail went cold. No surprise there then. I'm sure there is much of this also happening in the UK with the Libor scandal is just another branch of endemic bank corruption where they are robbing all of us blind and then laughing all the way to the bank with their massive bonuses.