Archive
British Banks: We Are Crooks. Dont Trust Us.
![]() Wonder what lessons James Crabtree has for British business and political elites! What SEC claims Rajat Gupta did, cost the market less than US$1 mn. What the LIBOR scandal has done has cost global consumers trillions? No one goes to jail?
|
Ba, ba Black Sheep
Wonder what lessons British captains of industry, commerce and business have learned?
By asking the State to take over, they are admitting they are a untrustworthy lot.
As for the British State, you can take the opinion of millions of Indians that the British State can definitely be trusted.
Only as far as you can throw it.
Baby wants more …
That leaves us with the Common Brit.
Stripped of all control and power over his life, the Common Brit whimpers for more of the State. Dependent on the State for food, shelter, education, jobs, medical assistance, the Common Brit no longer knows, whether he is coming or going.
What independent opinion, judgement can you expect from those who are dependent on a Criminal State and Klepto-Elite?
The British Bankers’ Association has asked the UK government to consider regulating and supervising the setting of the London interbank rate offered rate at the heart of Barclays’ £290m penalty for rates manipulation.
Under a historical quirk, the process of setting Libor has always been considered a private activity run by the banking trade body, although the banks who participate in the rate-setting process are regulated by the Financial Services Authority.
Barclays admitted Wednesday that its submissions to the Libor process were improperly affected by requests from traders to move the rate to the benefit of their derivative positions, as well as by a desire to make the bank look stronger during the financial crisis.
The BBA is currently reviewing the way Libor, which is the basis for $350tn in contracts world wide, is set amid probes that have swept in nearly 20 banks and a dozen regulators on three continents. (via BBA urges government to oversee Libor – FT.com).
What Peter says about Paul, says more about Peter than about Paul.
Related Articles
- Libor explained: the real cost of money or just a fix? (telegraph.co.uk)
- DealBook: Barclays Said to Pay Big Penalty in Regulatory Deal (dealbook.nytimes.com)
- Barclays: how does Libor affect my mortgage? (telegraph.co.uk)
- Barclays is fined record £290m for fixing Libor (standard.co.uk)
- Barclays fined for attempts to manipulate key bank rates – BBC News (bbc.co.uk)
- A Rate-Setting Mechanism of Far-Reaching Effects (dealbook.nytimes.com)
- Barclays chief Bob Diamond gives up 2012 bonus over £290m fine (guardian.co.uk)
Intrigued? Interested!
The 2ndlook blogs group try to give its readers a 360° view of the past present and probable outcomes. These four blogs have each a different focus. The common value that runs through these blogs is an invite to readers for discussion and participation - with a proviso of no personal attacks or use of invective.
2ndlookWith a focus on history, long-term trends, economy, political and social models. A blog that works to breakdown propaganda for what it is. The first blog of the group, over the four years of its existence, it has managed a monthly traffic of more than 10,000 hits. |
Behind 2ndlookThis forum is a visual record of the times. Historical prints to current cartoons, this is the latest in 2ndlook group of blogs. |
St.PT BarnumA forum that takes a lighter or satirical view of weighty matters. Posts on this forum are rare. |
![]() QuicktakeQuicktake focusses more on current events, recent events, reports, media buzz, matters of topical interests. Typically, Quicktakes are shorter than 2ndlook. Sometimes a few Quicktakes, morph into a 2ndlook post. |
Get Quicktake by email
Quicktake on Twitter
- RT @MandhBudhhi: @ReviewVayu Hehehe! All these platforms have been in production for donkey's years! Just see the delays in the #F35, new h… 2 hours ago
- RT @MandhBudhhi: @ReviewVayu Is this also on a tangent? Your predilection for #GoraPujan is becoming rather obvious. Sadly! https://t.co/2v… 2 hours ago
Top Vote getters
2ndlook on Indus Valley-Saraswati Basin
Exciting new series. From 1 Mar, 2010.
10 posts. More than 50 photographs. 100 links to the best original sources and writers. Get a 2ndlook at the 'Indus Valley Civilization' research. On military, defence, currency, travel, political systems. Cutting edge discoveries. With research from more than 200 news items, journals and books. Without the politics, with insight.
Recent Posts
Categories
Archives
- April 2014 (1)
- November 2013 (1)
- September 2013 (1)
- July 2013 (1)
- June 2013 (2)
- May 2013 (5)
- April 2013 (17)
- March 2013 (6)
- February 2013 (10)
- January 2013 (10)
- December 2012 (9)
- November 2012 (14)
- October 2012 (11)
- September 2012 (10)
- August 2012 (13)
- July 2012 (12)
- June 2012 (23)
- May 2012 (10)
- April 2012 (12)
- March 2012 (9)
- February 2012 (15)
- January 2012 (10)
- December 2011 (15)
- November 2011 (19)
- October 2011 (24)
- September 2011 (15)
- August 2011 (4)
- July 2011 (4)
- June 2011 (18)
- May 2011 (15)
- March 2011 (8)
- February 2011 (6)
- January 2011 (2)
- December 2010 (10)
- November 2010 (16)
- October 2010 (7)
- September 2010 (18)
- August 2010 (15)
- July 2010 (15)
- June 2010 (10)
- May 2010 (11)
- April 2010 (26)
- March 2010 (14)
- February 2010 (6)
- January 2010 (8)
- December 2009 (29)
- November 2009 (21)
- September 2009 (11)
- August 2009 (34)
- July 2009 (14)
- June 2009 (9)
- May 2009 (25)
- April 2009 (15)
- March 2009 (33)
- February 2009 (19)
- January 2009 (33)
- December 2008 (29)
- November 2008 (72)
- October 2008 (90)
- September 2008 (18)
- March 2008 (6)
- February 2008 (17)
Top Rated
2ndlook on Twitter
- RT @MandhBudhhi: @ReviewVayu Hehehe! All these platforms have been in production for donkey's years! Just see the delays in the #F35, new h… 2 hours ago
- RT @MandhBudhhi: @ReviewVayu Is this also on a tangent? Your predilection for #GoraPujan is becoming rather obvious. Sadly! https://t.co/2v… 2 hours ago