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[albitz]

I have just been reading that apparently Ed Balls went a funny shade of pink and started sweating when the enquiry was announced.
Its just possible that it will reveal that Labour were up to their necks in it - which would be nice.
http://www.dailymail.co.uk/news/article-2167940/Now-Labour-dragged-bank-rate-scandal-leaked-documents-Browns-baroness-proposed-scheme-drive-rates.html

The first comment from a pensioner in the DM article is interesting, I didn't realize the RBS technical glitch was still not resolved for Ulster Bank which they own, with no access to accounts since the 19th June and no comment from the bank on when it will be fixed and the accounts unfrozen. It looks like this is causing real hardship. Does the Ulster Bank have a liquidity problem?

Was speaking to my sister about this last night.Both her and her husbands salaries are paid into Ulster bank.They are in quite a mess,no idea how much is or isnt in their accounts.No idea what DD,s etc. have or havent been paid.Apparently long queues at branches to try to get any info.
Not sure if Ulster Bank has any particuar liquidity problems though tbh.

[omega3000]

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.

A nice £30 million pay off deal , he wont be in the queue down the co op for buy one get one free bacon deals 

[Dishevelled Den]

I have just been reading that apparently Ed Balls went a funny shade of pink and started sweating when the enquiry was announced.
Its just possible that it will reveal that Labour were up to their necks in it - which would be nice.
http://www.dailymail.co.uk/news/article-2167940/Now-Labour-dragged-bank-rate-scandal-leaked-documents-Browns-baroness-proposed-scheme-drive-rates.html

The first comment from a pensioner in the DM article is interesting, I didn't realize the RBS technical glitch was still not resolved for Ulster Bank which they own, with no access to accounts since the 19th June and no comment from the bank on when it will be fixed and the accounts unfrozen. It looks like this is causing real hardship. Does the Ulster Bank have a liquidity problem?

Was speaking to my sister about this last night.Both her and her husbands salaries are paid into Ulster bank.They are in quite a mess,no idea how much is or isnt in their accounts.No idea what DD,s etc. have or havent been paid.Apparently long queues at branches to try to get any info.
Not sure if Ulster Bank has any particuar liquidity problems though tbh.

I'm told by some of the natives over there son that the 'Ulster Bank' is in much deeper trouble than originally thought as a result of this very upsetting and quite unnecessary episode.

[Varche]

Dull as ditchwater watching Bob today.

What a load of hogwash. I wonder if he will give his millions back?

Will there be a proper enquiry?

We are all back to square one - as usual.

[Rods2]

He might just as well said: "Under the 5th amendment I can't answer that, Barclays is wonderful and I love the bank".

What is obvious is that there will be collective amnesia at the BOE and by former Government ministers, while the paper shredding machines are working overtime. 

[albitz]

He spoke for hours and hours and didnt say a thing. A few sighs of relief around Whitehall today I should imagine.

[jimac]

His entire "defence" seems to be "I didn't know it was going on".  Well, for the amount the he was paid to run the bank he should have known what was going on.  If he didn't actually encourage it, he is responsible for at least tolerating a culture that enabled it to happen. It all tends to support the view that banks are badly run and do not have the interests of their customers at the core.  It's true that businesses have to make money and show a profit for them to survive and grow, but the excesses that the banks obviously make tarnish all businesses.  We need some of the great Victorian reformers to make a comeback!

[Kevin Wood]

His entire "defence" seems to be "I didn't know it was going on".....

Why is this tolerated as a defence these days? Same with phone hacking, MPs expenses, etc.

"I "didn't know" I was committing an offence so I'm going to back-pedal a bit, put on a show of humble pie and grovel in public then carry on as normal"

It's your responsibility, end of story. If you're a chief executive who doesn't know what's going on in your organisation you are either lying or doing a cr@p job and spending too much time on the golf course, but it's still your responsibility.

These people are paid a lot of money for the level of responsibility they have, after all.

[Field Marshal Dr. Opti]

His entire "defence" seems to be "I didn't know it was going on".  Well, for the amount the he was paid to run the bank he should have known what was going on.  If he didn't actually encourage it, he is responsible for at least tolerating a culture that enabled it to happen. It all tends to support the view that banks are badly run and do not have the interests of their customers at the core.  It's true that businesses have to make money and show a profit for them to survive and grow, but the excesses that the banks obviously make tarnish all businesses.  We need some of the great Victorian reformers to make a comeback!

Quite a number of banking philanthropists way back then. Long gone now.

[Varche]

His entire "defence" seems to be "I didn't know it was going on".....

Why is this tolerated as a defence these days? Same with phone hacking, MPs expenses, etc.

"I "didn't know" I was committing an offence so I'm going to back-pedal a bit, put on a show of humble pie and grovel in public then carry on as normal"

It's your responsibility, end of story. If you're a chief executive who doesn't know what's going on in your organisation you are either lying or doing a cr@p job and spending too much time on the golf course, but it's still your responsibility.

These people are paid a lot of money for the level of responsibility they have, after all.

Ah but they need to be paid lots of money. These are after all VIPs in charge of money making machines and the very power house of Britain. Lets give the man a break. He can't know what is going on, he is only the head man and not paid that much really. No we need to find a scapegoat elsewhere. Someone off this forum would do nicely.

I wonder what happens next?

[Field Marshal Dr. Opti]

His entire "defence" seems to be "I didn't know it was going on".....

Why is this tolerated as a defence these days? Same with phone hacking, MPs expenses, etc.

"I "didn't know" I was committing an offence so I'm going to back-pedal a bit, put on a show of humble pie and grovel in public then carry on as normal"

It's your responsibility, end of story. If you're a chief executive who doesn't know what's going on in your organisation you are either lying or doing a cr@p job and spending too much time on the golf course, but it's still your responsibility.

These people are paid a lot of money for the level of responsibility they have, after all.

Agreed, Kevin. If Diamond knew then he's culpable........if he didn't he's inept. Either way he'll walk away with millions.

[CaptainZok]

I saw him the other day saying how "sickened" he was when he read e-mails regarding this.
If my last depot manager had found out I was doing something potentially illegal but certainly immoral I very much doubt she would have stopped at being sickened by my actions and I would have ended up looking for a new job if not facing criminal proceedings too.

[STMO123]

For those of you who are interested, Jerry del Missier is testifying in front of the parliamentary commitee now. Looks a bit shifty to me 

[Field Marshal Dr. Opti]

For those of you who are interested, Jerry del Missier is testifying in front of the parliamentary commitee now. Looks a bit shifty to me 

You couldn't make it up......or perhaps you could.

So Tucker tells Diamond to tell Del Missier....... 

Personally I don't believe that the BOE was involved at all............but the Diamond tells Del Missier  part of the equation sounds about right.

[albitz]

I read an article today which said that the U.S. authorities warned Mervyn King that rate rigging was taking place in 2008.
Hopefully,the truth will out eventually. Although Im not holding my breath.