FORUMS FORUMS






RLFANS.COM
Celebrating
25 years service to
the Rugby League
Community!

  

Home The Sin Bin One law for the....



Post new topic Reply to topic  [ 112 posts ]  Go to page 1, 2, 3, 4, 5 ... 12  Next
Author Message
 Post subject: One law for the....
PostPosted: Thu Jun 28, 2012 9:48 am 
Moderator
Moderator
User avatar

Joined: Dec 22 2001
Posts: 14395
Location: Chester
Banks?

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

and

http://www.guardian.co.uk/commentisfree/2012/jun/27/barclays-bank-big-obey-rules

This is absolutely stunning IMO.

The key point form that is this:

"Strip away the acronyms and the charges against Barclays are straightforward. Its traders and senior management are accused of tampering with two key interest rates to bolster their own profits. And they apparently did this not once, but repeatedly over four years."

Why aren't people being arrested as I type this? A paltry fine from the FSA isn't right. It amounts to 10 days profit of Barclays bank. What is more fining the institution itself only hurts the shareholders not the perpetrators of the crime

If I defrauded anyone out of as few thousand quid I would be in the dock.

People need to do jail time for this but I doubt they will.
Banks?

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

and

http://www.guardian.co.uk/commentisfree/2012/jun/27/barclays-bank-big-obey-rules

This is absolutely stunning IMO.

The key point form that is this:

"Strip away the acronyms and the charges against Barclays are straightforward. Its traders and senior management are accused of tampering with two key interest rates to bolster their own profits. And they apparently did this not once, but repeatedly over four years."

Why aren't people being arrested as I type this? A paltry fine from the FSA isn't right. It amounts to 10 days profit of Barclays bank. What is more fining the institution itself only hurts the shareholders not the perpetrators of the crime

If I defrauded anyone out of as few thousand quid I would be in the dock.

People need to do jail time for this but I doubt they will.






Last league derby at Central Park 5/9/1999: Wigan 28 St. Helens 20
Last league derby at Knowsley Road 2/4/2010: St. Helens 10 Wigan 18

Top
   
 
 Post subject: Re: One law for the....
PostPosted: Thu Jun 28, 2012 9:51 am 
All Time Great
All Time Great
User avatar

Joined: May 10 2002
Posts: 47951
Location: Die Metropole
How can you possibly compare this to areal crime – such as looting a bottle of water during last summer's riots – and suggest that those who got a little muddled at a bank should be punished in anything like the same way as a real criminal?

And the fine is a disgrace too: Barclays should be excused it – just as Goldman Sachs were excused a fine for something or other.






"You are working for Satan." Kirkstaller

"Dare to know!" Immanuel Kant

"Do not take life too seriously. You will never get out of it alive" Elbert Hubbard

"We are all in the gutter, but some of us are looking at the stars." Oscar Wilde

The Voluptuous Manifesto – thoughts on all sorts of stuff.

Top
   
 
 Post subject: Re: One law for the....
PostPosted: Thu Jun 28, 2012 10:28 am 
Moderator
Moderator
User avatar

Joined: Dec 22 2001
Posts: 14395
Location: Chester
Mintball wrote:How can you possibly compare this to areal crime – such as looting a bottle of water during last summer's riots – and suggest that those who got a little muddled at a bank should be punished in anything like the same way as a real criminal?

And the fine is a disgrace too: Barclays should be excused it – just as Goldman Sachs were excused a fine for something or other.


Quite. And Bob Diamond is totally blameless as well. Why on earth should he have known how his bank set its LIBOR rate (which is a fundamental indicator of a banks financial health amongst other things)? Why on earth would he take an interest in that?






Last league derby at Central Park 5/9/1999: Wigan 28 St. Helens 20
Last league derby at Knowsley Road 2/4/2010: St. Helens 10 Wigan 18

Top
   
 
 Post subject: Re: One law for the....
PostPosted: Thu Jun 28, 2012 10:31 am 
In The Arms of 13 Angels
In The Arms of 13 Angels
User avatar

Joined: Oct 19 2003
Posts: 17898
Location: Packed like sardines, in a tin
Was pondering starting a thread myself, but in the spirit of this thread I'm so annoyed that they can't be left to their own devices without being bothered by pesky things like morals and "the law". I'll happily donate my house and all its contents to Barclays to help them pay off the fine. Sterling chaps, every one.






2005 Challenge Cup

To reconcile respect with practicality, what is the optimum speed for a hearse?

Top
   
 
 Post subject: Re: One law for the....
PostPosted: Thu Jun 28, 2012 12:40 pm 
International Chairman
International Chairman
User avatar

Joined: May 25 2002
Posts: 37704
Location: Zummerzet, where the zoider apples grow
Interestingly and more peversely, the fine is levied by the FSA and paid by Barclays. The fines the FSA collect are then taken into account when setting the levies on the banks to pay for the functions of the FSA.

So this fine will be directly reflected by lower bank levies to police the banks. Effectively giving Barclays a discount on its fine.

You definitely couldn't make that one up






The older I get, the better I was

Advice is what we seek when we already know the answer - but wish we didn't

I'd rather have a full bottle in front of me than a full-frontal lobotomy
------------------------------------------------------------------------------------------------------------
kirkstaller wrote: "All DNA shows is that we have a common creator."

cod'ead wrote: "I have just snotted weissbier all over my keyboard & screen"

------------------------------------------------------------------------------------------------------------
"No amount of cajolery, and no attempts at ethical or social seduction, can eradicate from my heart a deep burning hatred for the Tory Party. So far as I am concerned they are lower than vermin." - Aneurin Bevan

Top
   
 
 Post subject: Re: One law for the....
PostPosted: Thu Jun 28, 2012 1:02 pm 
International Board Member
First Team Player

Joined: Oct 02 2002
Posts: 1552
cod'ead wrote:Interestingly and more peversely, the fine is levied by the FSA and paid by Barclays. The fines the FSA collect are then taken into account when setting the levies on the banks to pay for the functions of the FSA.

So this fine will be directly reflected by lower bank levies to police the banks. Effectively giving Barclays a discount on its fine.

You definitely couldn't make that one up

Lol and if it turns out that they were all in on it and end up with similar fines they might end up as a direct offset to the levies.
I'm also sure I heard from the FSA spokeswoman last night that they'd entered a no prosecution agreement with Barclays.

Top
   
 
 Post subject: Re: One law for the....
PostPosted: Thu Jun 28, 2012 1:05 pm 
International Chairman
Player Coach
User avatar

Joined: Dec 22 2001
Posts: 14845
cod'ead wrote:Interestingly and more peversely, the fine is levied by the FSA and paid by Barclays. The fines the FSA collect are then taken into account when setting the levies on the banks to pay for the functions of the FSA.

So this fine will be directly reflected by lower bank levies to police the banks. Effectively giving Barclays a discount on its fine.

You definitely couldn't make that one up


Although to be fair Osborne is trying to get it paid to government to benefit taxpayers.

Top
   
 
 Post subject: Re: One law for the....
PostPosted: Thu Jun 28, 2012 1:10 pm 
International Chairman
Player Coach
User avatar

Joined: Dec 22 2001
Posts: 14845
Apparently, no criminal act has been committed in terms of the FSMA. Personally, I find it hard to believe that there has not been a criminal act committed under other legislation (and if not, the law is an ass). Now, if a criminal act has been committed and the perpetrators benefitted financially (which from the allegations seems likely) then surely they could have their assets seized and be jailed under the Proceeds of Crime Act? It's about time this country got tough on this sort of thing.

Top
   
 
 Post subject: Re: One law for the....
PostPosted: Thu Jun 28, 2012 1:28 pm 
In The Arms of 13 Angels
In The Arms of 13 Angels
User avatar

Joined: Oct 19 2003
Posts: 17898
Location: Packed like sardines, in a tin
From BBC

"London Inter Bank Offered Rate. The rate at which banks in London lend money to each other for the short-term in a particular currency. A new Libor rate is calculated every morning by financial data firm Thomson Reuters based on interest rates provided by members of the British Bankers Association."

So a private company (with no interest in making money :wink: ) is calculating interest rates by which other private companies (with an interest in making money) are then, er, making money. But the second company is providing duff info to the first for the calculations so that they benefit more. Sounds extremely dodgy to me.






2005 Challenge Cup

To reconcile respect with practicality, what is the optimum speed for a hearse?

Top
   
 
 Post subject: Re: One law for the....
PostPosted: Thu Jun 28, 2012 1:39 pm 
All Time Great
All Time Great
User avatar

Joined: May 10 2002
Posts: 47951
Location: Die Metropole
Chris28 wrote:... Sounds extremely dodgy to me.


Well, what can you expect of a system at the heart of the casino economy?






"You are working for Satan." Kirkstaller

"Dare to know!" Immanuel Kant

"Do not take life too seriously. You will never get out of it alive" Elbert Hubbard

"We are all in the gutter, but some of us are looking at the stars." Oscar Wilde

The Voluptuous Manifesto – thoughts on all sorts of stuff.

Top
   
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 112 posts ]  Go to page 1, 2, 3, 4, 5 ... 12  Next





It is currently Wed Nov 27, 2024 3:46 am


Who is online

Users browsing this forum: No registered users and 151 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  


It is currently Wed Nov 27, 2024 3:46 am
RLFANS Recent Posts
FORUM
LAST
POST
TOPIC
POSTER
POSTS
FORUM
LAST
VIEW
TOPIC
POSTER
POSTS
10s
Film game
karetaker
5766
16s
2025 Fixtures
Jemmo
1
34s
Transfer Talk V5
Seth
517
36s
Fixtures
Hockley Bron
12
50s
Ground Improvements
phe13
198
51s
Game - Song Titles
Boss Hog
40802
57s
Shopping list for 2025
HU8HFC
5588
1m
DoR - New Coach - Investor & Adam - New signings
Theeaststand
4048
1m
Rumours and signings v9
Mark_P1973
28902
1m
ALL NEW 49ERS ERA LEEDS UTD THREAD
tad rhino
2611
FORUM
NEW
TOPICS
TOPIC
POSTER
POSTS
TODAY
Shirt reveal coming soon
Khlav Kalash
2
TODAY
Opening Championship and League One Fixtures for 2025 Released
RLFANS News
1
TODAY
Getting a new side to gel
Wigan Bull
2
TODAY
Fixtures
Hockley Bron
12
TODAY
Writers required
H.G.S.A
1
TODAY
2025 Fixtures
Jemmo
1
NEWS ITEMS
VIEWS
RLFANS Match Centre
Matches on TV
Thu 13th Feb
SL
20:00
Wigan-Leigh
Fri 14th Feb
SL
20:00
Hull KR-Castleford
SL
20:00
Catalans-Hull FC
Sat 15th Feb
SL
15:00
Leeds - Wakefield
SL
17:30
St.Helens-Salford
Sun 16th Feb
SL
15:00
Huddersfield-Warrington
Thu 20th Feb
SL
20:00
Wakefield - Hull KR
Fri 21st Feb
SL
20:00
Warrington-Catalans
SL
20:00
Hull FC-Wigan
Sat 22nd Feb
SL
15:00
Salford-Leeds
SL
20:00
Castleford-St.Helens
Sun 23rd Feb
SL
14:30
Leigh-Huddersfield
Thu 6th Mar
SL
20:00
Hull FC-Leigh
Fri 7th Mar
SL
20:00
Castleford-Salford
SL
20:00
St.Helens-Hull KR
Sat 8th Mar
SL
17:30
Catalans-Leeds
Sun 9th Mar
SL
17:30
Warrington - Wakefield
SL
17:30
Wigan-Huddersfield
Thu 20th Mar
SL
20:00
Salford-Huddersfield
Fri 21st Mar
SL
20:00
St.Helens-Warrington
This is an inplay table and live positions can change.
Mens Betfred Super League XXVIII ROUND : 1
 PLDFADIFFPTS
Wigan 29 768 338 430 48
Hull KR 29 731 344 387 44
Warrington 29 769 351 418 42
Leigh 29 580 442 138 33
Salford 28 556 561 -5 32
St.Helens 28 618 411 207 30
 
Catalans 27 475 427 48 30
Leeds 27 530 488 42 28
Huddersfield 27 468 658 -190 20
Castleford 27 425 735 -310 15
Hull FC 27 328 894 -566 6
LondonB 27 317 916 -599 6
This is an inplay table and live positions can change.
Betfred Championship 2024 ROUND : 1
 PLDFADIFFPTS
Wakefield 27 1032 275 757 52
Toulouse 26 765 388 377 37
Bradford 28 723 420 303 36
York 29 695 501 194 32
Widnes 27 561 502 59 29
Featherstone 27 634 525 109 28
 
Sheffield 26 626 526 100 28
Doncaster 26 498 619 -121 25
Halifax 26 509 650 -141 22
Batley 26 422 591 -169 22
Swinton 28 484 676 -192 20
Barrow 25 442 720 -278 19
Whitehaven 25 437 826 -389 18
Dewsbury 27 348 879 -531 4
Hunslet 1 6 10 -4 0
RLFANS Recent Posts
FORUM
LAST
POST
TOPIC
POSTER
POSTS
FORUM
LAST
VIEW
TOPIC
POSTER
POSTS
10s
Film game
karetaker
5766
16s
2025 Fixtures
Jemmo
1
34s
Transfer Talk V5
Seth
517
36s
Fixtures
Hockley Bron
12
50s
Ground Improvements
phe13
198
51s
Game - Song Titles
Boss Hog
40802
57s
Shopping list for 2025
HU8HFC
5588
1m
DoR - New Coach - Investor & Adam - New signings
Theeaststand
4048
1m
Rumours and signings v9
Mark_P1973
28902
1m
ALL NEW 49ERS ERA LEEDS UTD THREAD
tad rhino
2611
FORUM
NEW
TOPICS
TOPIC
POSTER
POSTS
TODAY
Shirt reveal coming soon
Khlav Kalash
2
TODAY
Opening Championship and League One Fixtures for 2025 Released
RLFANS News
1
TODAY
Getting a new side to gel
Wigan Bull
2
TODAY
Fixtures
Hockley Bron
12
TODAY
Writers required
H.G.S.A
1
TODAY
2025 Fixtures
Jemmo
1
NEWS ITEMS
VIEWS


Visit the RLFANS.COM SHOP
for more merchandise!












.