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singlecoil
Original Poster
14,928 posts
115 months
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Guam
15,350 posts
137 months
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Not sure the BOE will feel the same way lol. I cant help feeling he has done this to blow the lid off a load of stuff tommorrow 
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BlueEyedBoy
1,570 posts
65 months
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singlecoil said: Thank goodness for that Can I ask why you think this is such a good thing?
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K12beano
14,389 posts
144 months
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So he neither has to apologise any more or clear up the mess.
And he's free to say what he wants to justify his personal position.
It's like walking away from a car crash and then saying: "nothing to do with me, Gov".
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tonker
43,826 posts
117 months
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fantastic. So we have a bank that makes lots of money and which, via its employees at least, pays loads of tax. What we will do is replace someone who has proved themselves a good money maker for the bank and for the taxman and replace them with someone who doesn't have that experience. Odds on Bob Diamond popping up somewhere else and crucifying UK plc every time he gets now ?
Let's kill anyone who can read next....
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z4chris99
5,720 posts
48 months
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Eric Mc
67,256 posts
134 months
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Is making lots of money and paying lots of tax a "get out clause" for possibly criminal behaviour?
Should banks not behave in line with both legal and ethical standards?
Do you think that trying to fix the market is acceptable behaviour?
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singlecoil
Original Poster
14,928 posts
115 months
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BlueEyedBoy said: singlecoil said: Thank goodness for that Can I ask why you think this is such a good thing? I think that it is a good thing because those who get the rewards (and what rewards!) should also take the blame when things go as wrong as they did.
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rich1231
16,615 posts
129 months
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Eric Mc said: Is making lots of money and paying lots of tax a "get out clause" for possibly criminal behaviour?
Should banks not behave in line with both legal and ethical standards?
Do you think that trying to fix the market is acceptable behaviour? Are you accusing Bob Diamond of Criminal activities Eric?
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BlueEyedBoy
1,570 posts
65 months
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Exactly Tonker, where do we draw the line, every CEO of every bank? The difference these days is instead of everyone standing round the well, we just have the media and the mass general public asking for a drowing.
I agree Diamond has some significant blame, but not allowing him the chance with a combination of tighter controls and much easier bonus claw back from "rogue" traders making these wallet swelling short term decsions, to rectify the situation is short sighted.
Barclays will be hard to find someone else to take over (who is anywhere near as good a leader), and in that time what is the effect on the economy? Probably a lot more significant than the noise about the LIBOR rigging...
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Blackpuddin
4,792 posts
74 months
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rich1231 said: Eric Mc said: Is making lots of money and paying lots of tax a "get out clause" for possibly criminal behaviour?
Should banks not behave in line with both legal and ethical standards?
Do you think that trying to fix the market is acceptable behaviour? Are you accusing Bob Diamond of Criminal activities Eric? Clearly, he isn't.
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Eric Mc
67,256 posts
134 months
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rich1231 said: Eric Mc said: Is making lots of money and paying lots of tax a "get out clause" for possibly criminal behaviour?
Should banks not behave in line with both legal and ethical standards?
Do you think that trying to fix the market is acceptable behaviour? Are you accusing Bob Diamond of Criminal activities Eric? No - what I am accusing him of is overseeing a company that engaged in activities that MAY have been criminal. If they turn out NOT to be criminal, that will be more to do with a failure to ensure proper legislation was in place - legislation similar to what is in place for other businesses. (We now have two threads running on this topic- can we consolidate them into one?)
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powerstroke
1,720 posts
29 months
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Great!!! now when is Ed Balls going to resign ?? he was also responsable ....
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BlueEyedBoy
1,570 posts
65 months
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singlecoil said: I think that it is a good thing because those who get the rewards (and what rewards!) should also take the blame when things go as wrong as they did. I am more in favour of someone (who in his case has significant talents) being made to reectify the problems he has caused, not be given a chance to put his feet up on a private island in the sun.
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singlecoil
Original Poster
14,928 posts
115 months
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BlueEyedBoy said: singlecoil said: I think that it is a good thing because those who get the rewards (and what rewards!) should also take the blame when things go as wrong as they did. I am more in favour of someone (who in his case has significant talents) being made to reectify the problems he has caused, not be given a chance to put his feet up on a private island in the sun. And I am more in favour of the "pour encourager les autres" aspect of this.
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singlecoil
Original Poster
14,928 posts
115 months
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Eric Mc said: (We now have two threads running on this topic- can we consolidate them into one?) I think this resignation is too important to be added to a 17 page thread that is discussing the wider issues.
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BlueEyedBoy
1,570 posts
65 months
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singlecoil said: And I am more in favour of the "pour encourager les autres" aspect of this. You really think his actions will deter others? Other than the big names, these guys when they get sacked just go and work at another bank. Falling on ones sword does will not stop the people lower down who made these decisions from changing. Only if they them selves have a financial risk (which is the main thing that drives many of them) from these decisions, will they consider twice. I believe the a simple way to prevent this, is to ensure that the people in charge of these guys are on a fixed salary and are paid to ensure these risks do not occur, i.e. internal watchdogs, and that does require direction from the top.
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roachcoach
2,960 posts
24 months
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Eric Mc
67,256 posts
134 months
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singlecoil said: Eric Mc said: (We now have two threads running on this topic- can we consolidate them into one?) I think this resignation is too important to be added to a 17 page thread that is discussing the wider issues.
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Eric Mc
67,256 posts
134 months
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roachcoach said: cui bono.... It's being discussed there already anyway.
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