In all honesty though, can you think of any bunch of politicians that you would trust at the moment, regardless of which party they represent?

Les

 

With the resignation of Bob Diamond and that he now plans to leave "little England", one could argue he as little to lose in tomorrows hearing at the Treasury Select Committee. Who is he likely to bring down with him, former ministers, FSA and some other whitehall members. Should be an interesting hearing tomorrow!

 

Nope, sadly I can't

 

Poor bob he's lost his job, what about his family, how will they survive with just £30,000,000 to console them.

It's just mental what these people are allowed to get away with, and then their punishment is a £30,000,000 slap in the face, it's no wonder the wrong doing is rife with such penalties.

 

My mother has a mortgage on her house in spain. The lender is actually Natwest Gibraltar. Her rate is LIBOR+x% - one would assume she has been overpaying for many years. I wonder if theres any mention if folk will get a refund.

 

I wish I was crap at my job and my boss pay me off with £30 MILLION.

What a joke, the banks hold the world to ransom and take what they want. So much of our lives have been affected by greedy people.


Something has to change or the whole thing will just go pop.

 

Well then she would have benefited since they were trying to manipulate the LIBOR rate downwards. Does that means she should now pay more?

 

Maybe. It hasn't been particularly clear whether the manipulation was up or down.

edit - according to this it seems they manipulated the rate up and down to suit themselves.

http://www.thisismoney.co.uk/money/n...on-likely.html

 

Except Bob Diamond is possibly one of the best CEOs we have in this country.

At which part of his job was he "crap", specifically??

 

From start of the financial in crisis (which todays hearing will centre on) it was manipulated downwards.

 

And still is.

 

[quote=TelBoy;10693007]Except Bob Diamond is possibly one of the best CEOs we have in this country.

At which part of his job was he "crap", specifically??[/quote]


Well I guess he was great for generating income/profit but integrity?? We may find out.

Even if he was given the nod from BoE to "adjust" LIBOR to calm city worries he might have said no as that could undermine the city's reputation for honest dealing.

I'm surprised Millipede is calling for a full enquiry as that could be a can of worms for the old Labour government trying to influence the market.

dl

 

Thing is, David, Barclays could quite easily have become the object of a witchhunt if they'd unilaterally published "real" Libor rates, in the sense that many would have seen it as a bank in crisis unable to fund themselves. Who can say hand on heart they'd have jeopardised their own company's existence in the name of integrity?

In my opinion it's almost exactly the same as the petrol companies who maintain their cartel and refuse to move petrol prices down when the price of oil falls. All of us are being fleeced by this racket but i don't see Shell's CEO lined up to appear after Bob Diamond?

 

That's a very good question and I don't have a definitive answer. I suppose it is interesting to wonder if Diamond acted on his own or spoke to the Chairman or even the Board and asked for their support. I would suspect not (may be the Chairman?).

dl

 

glad someone's paying attention!

 

delivering shareholder value, consumate with his salary

whether the great unwashed did or did not benefit from all this is a smoke screen

but I would not be too concerned, most snetters a too preoccupied with immigration, gays and benefit cheats to really worry about it

 

And believing that New Labour are socialists

 

You forgot dangerous dogs

dl

 

Again!

 

Listening to the hearing they have asked about manipulation before the crisis.

So it was manipulated upwards before the crash and then downwards after - possibly on orders from BoE.

 

Sorry not wishing to labour a point, but his shareholders are the last people who wanted to see him leave.

Are there any areas in which his performance was truly "crap"?


Thought not, no.

 

Ulster bank will not be back to normal running until 16 July on a brighter note my pay went in today. no transactions on my account after 28 June though.

 

You are answering a slightly different question