The Virtual Pub
Come Inside... => The Commons => Topic started by: Miss Creant Commander of the picklement and baking BAb(Hons) on April 28, 2012, 10:42:31 AM
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http://www.independent.co.uk/news/business/news/barclays-chief-apologises-over-bob-diamond-pay-row-7684521.html (http://www.independent.co.uk/news/business/news/barclays-chief-apologises-over-bob-diamond-pay-row-7684521.html)
The chairman of Barclays apologised to shareholders today as he moved to head off a showdown over the pay of chief executive Bob Diamond.
At the start of the bank's annual meeting, Marcus Agius admitted the bank's bosses "have not done a good enough job in articulating our case".
Mr Diamond received £17.7 million in salary, bonus, benefits and vested long-term share awards last year - despite admitting his bank's performance was "unacceptable".
The meeting was due to hear calls for remuneration committee chairman Alison Carnwath to stand down and for the 2011 pay report to be thrown out.
I know that we have seen it all before but I bank with Barclays and right now my fury knows no bounds. I feel physically sick. It is a mixture of things, disgust and helplessness being the top two I think.
I am going to spend some time over the weekend looking at other banks and I know that none of them are brilliant. I know that closing my account with Barclays will make not one iota of difference but it might make me feel better.
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I'm not a Barclays customer but even if I was I wouldn't get upset with Bob Diamond's pay, be it 17.7 million or the more oft quoted figure of 6.3 million (down from 9 million the year before) I believe the indy might be massaging the figures somewhat. Anyway, Barclays made a profit of 5.88 billion. Not that "unacceptable" in my mind. Maybe the dividends to shareholders could have been more but as long as they've provided a good service to you personally why get upset?
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You are probably right Uncle and I am not saying that how I feel is logical. This country is going to hell in a hand cart those at the top are a corrupt bunch of crooks (to put it mildly) and we get spoon fed pap telling us that we are all in this together. Bollocks are we. So my rage is not really directed at Bob Diamond it's directed at the whole stinking festering lot of them. censored: censored:
Having said all that we get an extra Bank Holiday and a street party so it's all OK really. Angry9:
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You realise of course that the corrupt bunch of crooks in charge are very happy to have the people direct their anger at the bankers.
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You realise of course that the corrupt bunch of crooks in charge are very happy to have the people direct their anger at the bankers.
Zackly........
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You realise of course that the corrupt bunch of crooks in charge are very happy to have the people direct their anger at the bankers.
Indeed, which is exactly why I spread my anger around in a liberal manner. Right now Bob has taken a back seat, my ire is directed at the tosser that sort of lives at number 52. He allows his son to keep 5 dogs cooped up in a kennel for 23 hrs a day. Not surprisingly the dogs bark almost incessantly. I want to keel him, them, the councils environmental enforcement team, the RSPCA and several members of the local constabulary.
As I said not necessarily logical but piss boilingly frustrating nonetheless.
Umm National kill a dog day has a certain ring to it. rubschin:
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I am going to spend some time over the weekend looking at other banks and I know that none of them are brilliant. I know that closing my account with Barclays will make not one iota of difference but it might make me feel better.
It might also make you slightly better off. I kicked Barclays into touch nearly three years ago and probably should have done it earlier. The reason? Bank charges and zero interest. Santander are not brilliant but I've paid zero in charges and they've added interest.
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Yet more ... which they kept quiet about noooo:
You total, conniving bunch of knuts
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9359362/Bob-Diamond-forgoes-bonus-as-Barclays-fined-for-Libor-manipulation.html (http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9359362/Bob-Diamond-forgoes-bonus-as-Barclays-fined-for-Libor-manipulation.html)
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One member of the LIBOR panel can't really influence the rate by much, certainly not enough to seriously affect personal mortgage and loan rates. However, as the production of "benchmark" rates relys on honesty and integrity any transgrestion should be punished as harshly as is allowable.
Keeelll them!
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Agreed, manipulating LIBOR isn't going to make a whole hell of a lot of difference to individual account holders, but - when you look at the amount Barclays have on deposit overnight (based on LIBOR) then even 0.01% would make them a very nice piece of Diamond's wages.
[rant_on] (as an aside - one of my pet hates: tautology - LIBOR = London InterBank Offered Rate. Note the last word! So often folk talk about the LIBOR Rate - that's saying: London InterBank Offered Rate Rate) [rant_off]
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You realise of course that the corrupt bunch of crooks in charge are very happy to have the people direct their anger at the bankers.
Indeed, which is exactly why I spread my anger around in a liberal manner. Right now Bob has taken a back seat, my ire is directed at the tosser that sort of lives at number 52. He allows his son to keep 5 dogs cooped up in a kennel for 23 hrs a day. Not surprisingly the dogs bark almost incessantly. I want to keel him, them, the councils environmental enforcement team, the RSPCA and several members of the local constabulary.
As I said not necessarily logical but piss boilingly frustrating nonetheless.
Umm National kill a dog day has a certain ring to it. rubschin:
shocked003 shocked003 scared2: scared2:
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(https://www.virtual-pub.com/SMF/proxy.php?request=http%3A%2F%2Fs14.postimage.org%2F8rljmdrbx%2Fbarclays.jpg&hash=3bf47cb3850d0fb9ae76ec6f8123e8ef5c9b85a0) (http://postimage.org/image/8rljmdrbx/)
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lol:
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(https://www.virtual-pub.com/SMF/proxy.php?request=http%3A%2F%2Fa5.sphotos.ak.fbcdn.net%2Fhphotos-ak-snc7%2F487216_4224545820346_2007564228_n.jpg&hash=4e34ca6fdcf495d0600c8e54b559e7f4a97b4ad2)
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Agreed, manipulating LIBOR isn't going to make a whole hell of a lot of difference to individual account holders, but - when you look at the amount Barclays have on deposit overnight (based on LIBOR) then even 0.01% would make them a very nice piece of Diamond's wages.
[rant_on] (as an aside - one of my pet hates: tautology - LIBOR = London InterBank Offered Rate. Note the last word! So often folk talk about the LIBOR Rate - that's saying: London InterBank Offered Rate Rate) [rant_off]
Some interesting reading here....
http://www.ianfraser.org/the-wages-of-sin-bankers-on-the-fiddle/ (http://www.ianfraser.org/the-wages-of-sin-bankers-on-the-fiddle/)
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Balls and Millipede are calling for a "Full Levenson style enquiry" that will cost £squillions to tell us what we already know ... What they are not telling us is that the FSA, which has failed so dismally, was put in charge of regulating banking activities by one G Brown whose right and left hand men were ............. Messrs Balls and Millipede.
Give regulatory authority back to the Bank of England where it belongs. It takes a Banker to know a Banker
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http://www.ianfraser.org/the-wages-of-sin-bankers-on-the-fiddle/ (http://www.ianfraser.org/the-wages-of-sin-bankers-on-the-fiddle/)
Quoted from the above article.....
An associate professor of economics and law at the University of Missouri-Kansas City, told the Sunday Herald that anyone who is found to have manipulated Libor or condoned such practices at a senior level in a bank should face criminal prosecution. He suggested UK based directors and staff, such as the former RBS chief executive Fred Goodwin, could be liable for extradition to the US.
Black, a world-leading expert on financial crime said:
“The reports of systematic falsification of Libor reports, if accurate, constitute felonies under US antitrust law that should be prosecuted vigorously, as should the systematic cover up.”
The US Justice Department has confirmed its criminal division is investigating banks other than Barclays. It said:
“The Justice Department’s criminal investigation into the manipulation of Libor and Euribor by other financial institutions and individuals is on-going.”
Industry sources said executives from Barclays, HSBC, Lloyds and RBS are at risk of extradition hearings, since evidence suggests that US dollar Libor was was one of the benchmarks that was manipulated. Seventy per cent of the $500 trillion global swaps market is based on US dollar Libor, with American counterparties likely to have been most affected.
Oh let's hope that Goodwin and Diamond are shipped back to the 'States. It would seem that those at the top are rotten to the core. We, the majority get fed pap. The likes of The X Factor and Big Brother keep the masses quiet and dumbed down.
Sometimes I get the feeling that the natives are getting restless but what it would take to have an British Spring god only knows.
Still at least I can sleep well at night safe in the knowledge that we are all in it together. sick2:
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(https://www.virtual-pub.com/SMF/proxy.php?request=http%3A%2F%2Fs16.postimage.org%2Famv8ljyxd%2Fbarclays.jpg&hash=40eccd24f6d090d1948d34674d9e0e486a814f9b) (http://postimage.org/)
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(https://www.virtual-pub.com/SMF/proxy.php?request=http%3A%2F%2Fs16.postimage.org%2Famv8ljyxd%2Fbarclays.jpg&hash=40eccd24f6d090d1948d34674d9e0e486a814f9b) (http://postimage.org/)
lol: lol: lol:
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I see their chairthing has fallen on his sword!
I'm also seeing reports indicating that the good old boys across the pond are talking Federal charges and extradition!
Bring it on I say!
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I felt a little saddened that the chairthingy felt he had to fall on his sword. as it really was nowt to do with him but it does prove that you can't expect a Yank to do the decent thing.
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So Diamonds are not forever then, he's gone
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lol: lol: lol:
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So Diamonds are not forever then, he's gone
Ooooo! So he has ;D
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http://order-order.com/2012/07/03/liborgate-diamond-v-tucker-at-treasury-select-committee/ (http://order-order.com/2012/07/03/liborgate-diamond-v-tucker-at-treasury-select-committee/)
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So Diamonds are not forever then, he's gone
Yep, he's been downgraded to Diamante. lol:
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http://www.markpack.org.uk/32876/ed-balls-says-hes-not-nervous-222-blinks-say-otherwise/ (http://www.markpack.org.uk/32876/ed-balls-says-hes-not-nervous-222-blinks-say-otherwise/)