Guy giving Bob Diamond a hard time on SKY now
Discussion
ellroy said:
ShadownINja said:
Why aren't they interrogating the RBS guy instead? I thought Barclays was owned by someone in the Middle East.
Borrowed funds from the Middle East, at a higher rate than they would have paid to HMG, and have already paid it back with a nice fat profit for those who lent.As a side issue this opened up access to a series of new markets in the Middle East that are growing far quicker than the western economies will manage in the near future, if ever.
RED is not daft by any stretch of the imagination.
Mikeyboy said:
Used to work for Diamond when he started at Barclays. He went about business, which was cutting whole departments at the time with a sense of calm that made most of us at ease about out futures. Not that common I now know.
Not sure if I read what you've put right here, perhaps it city code, but I'll have a go; One of his apprenticeship tasks was to be the hatchet man, but did it so nicely it was like being buggered and getting a reach around at the same time, so you didn't mind if it happened to you too and possibily looked forward to it. Not a lot of people know that
.btw only having g-raffe.........
turbobloke said:
Busa_Rush said:
fido said:
Soovy said:
Bob Diamond is a very very clever guy, who earns every penny. I've met him twice, and done work for him. He won't stand for this. Don't be at ALL surprised when Barclays moves its HQ to Asia next year.
Agree - he is the one of best in the business and an inspiration to people who work for him. Haven't actually chat to him directly but I walked into his office by accident. 
Regardless of the technicalities...
As I'm not a City worker I may be wrong in thinking that this is NOT taxpayer cash bailout territory but (as the name suggests) insurance.
If so then BD was quite reticent in not saying anything to make the MP look foolish.
Soovy said:
Diamond sits there knowing that he never needs to work again. Ever.
Barclays will HQ in Asia soon. Bye bye scum UK.
Without wishing to sound like the baying MP's or a left wing rag editor, isn't this the nub of the concern. So much money is earned so quickly you can balls everything up get suitably rewarded, enough to retire on, before anyone realises what a crap job you've actually done with other peoples money................................QEDBarclays will HQ in Asia soon. Bye bye scum UK.
HarryW said:
Soovy said:
Diamond sits there knowing that he never needs to work again. Ever.
Barclays will HQ in Asia soon. Bye bye scum UK.
Without wishing to sound like the baying MP's or a left wing rag editor, isn't this the nub of the concern. So much money is earned so quickly you can balls everything up get suitably rewarded, enough to retire on, before anyone realises what a crap job you've actually done with other peoples money................................QEDBarclays will HQ in Asia soon. Bye bye scum UK.
Even so for the right people with the right background, qualification (by no means just academic, also lifeskills) MPs remuneration should be much higher. But not without reforms in rligibility criteria and selection first, no no no.
Halb said:
cardigankid said:
...by the way, why was he in front of a select committee?
Yeh, how come?Edited by ninja-lewis on Tuesday 11th January 23:34
CobolMan said:
Soovy said:
Diamond sits there knowing that he never needs to work again. Ever.
Barclays will HQ in Asia soon. Bye bye scum UK.
I reckon you're right there Soovy, my money's on Singapore.Barclays will HQ in Asia soon. Bye bye scum UK.
ninja-lewis said:
Halb said:
cardigankid said:
...by the way, why was he in front of a select committee?
Yeh, how come?If Barclays decide to move to Singapore, good luck to them, it's what I would do. However, the banking industry as a whole is never going to move out of the UK. Who in their right mind is going to leave a country where you are allowed to operate a cartel, shaft the public, pay yourself a fortune and be bailed out by the Government when it inevitably goes wrong?
Not that the MP's will do anything about it (because they are in on the scam, and even Chaytor will only serve part of his sentence and will be looked after at the end of the day) the UK is served very poorly by its financial sector. This is not private enterprise.
Retail banking is just a racket. Investment banking is a fraud on pension holders and legalised market manipulation. What is happening is that a very few people are getting obscenely rich and the general population is getting poorer. This works while the pizza eating X-Factor watching proletariat are at the bottom of the pile. It stops working when the middle classes who actually do the work in this country are impoverished, and that is very close. The working classes didn't organise the French revolution, nor the October Revolution in Russia nor the Nazi revolution in Germany.
Britain is corrupt from top to bottom, and though the rich winners may be your heroes Soovy they had better look out of the window occasionally. Would you shoot someone you blame for starving your kids, like a soft commodities speculator for example? I would, without hesitation. And the bunch of Oxford educated toffs running the country will scatter like rabbits when they are faced with a real challenge.
First of all I'm not anti-banker. I don't particularly care about large bonuses - good luck to them, some of it has been spent with me in the past so I can hardly complain.
I don't like the atmosphere created by the lefty media stirring up the cretinous and I accept that the City has provided and will provide massive input to the UK.
I have zero respect for politicians and had I been Mr Diamond yesterday I'd have told some of those doing the haranguing to stick their questions.
There's a but coming.
I've struggled like hell over the last year or two, with a taxpayer funded bail out I know I could turn things around and pay it all back once back in decent profit.
Why do some of those who defend bank bailouts on here see small businesses as any different to the banks, it's a genuine question? Is it simply down to the number of noughts on the end of the figures?
I don't like the atmosphere created by the lefty media stirring up the cretinous and I accept that the City has provided and will provide massive input to the UK.
I have zero respect for politicians and had I been Mr Diamond yesterday I'd have told some of those doing the haranguing to stick their questions.
There's a but coming.
I've struggled like hell over the last year or two, with a taxpayer funded bail out I know I could turn things around and pay it all back once back in decent profit.
Why do some of those who defend bank bailouts on here see small businesses as any different to the banks, it's a genuine question? Is it simply down to the number of noughts on the end of the figures?
Wurls said:
I used to work for him in early 2000's. Probably the fairest man in the toughest business. A gentleman. As you say, worth every penny. Barclays shareholders are a lucky bunch.
We may be lucky to have him, but with the share price dropping almost a quid since I decided to sell I wouldn't call us lucky... 
cardigankid said:
Retail banking is just a racket.
Why? Free banking, free credit cards, even free overdrafts if you don't exceed the agreed limit. Compare that to somewhere like Australia where just holding your own money in a bank account (that doesn't pay interest) incurrs a monthly fee. If you want to withdraw money from an ATM that doesn't belong to your bank that costs, as does making more than a certain number of withdrawals a month. My GF's folks were stunned when I said I'd got more than one credit card as they assumed I was paying a fortune in fees, and even more stuned when I said that they were free.Our banking system may not be perfect but the grass isn't always greener.
Alfa numeric said:
Why? Free banking, free credit cards, even free overdrafts if you don't exceed the agreed limit
Banking is only free if you keep a credit balance in your account and then you get paid zero or near zero interest, which with inflation is effectively a 4% annual charge just for holding your money. Even an IFA would think that was good. No overdraft is free - they come with charges including arrangement fees and hefty real interest rates, if you are 'fortunate' enough to get one at all, which many find impossible. You might get a credit card, many don't, other than those in financial difficulty who are offered them at interest rates up to 60%, which ought to be illegal but isn't. If you pay in or out a cheque the bank will sit on your money for 6 working days - they all do that. Strange wouldn't you say?Even those 'free' accounts are getting hard to come by. Business Bank Accounts are much worse, and we are now back to a situation where you cannot get a business loan, even with a perfect credit record, unless you can prove in detail that you don't need it. I know, I've tried.
The Australian dollar is riding high, I would much sooner have my money in Aus Dollars than Sterling. The UK can only maintain the current 'recovery' by QE and holding down the value of Sterling.
And, by the way, next time you are in a branch, ask them about their pension, healthcare and home insurance plans. That's how to get really done over. How many people out there have contributed to private pension schemes which are now all but worthless?
Edited by cardigankid on Wednesday 12th January 10:30
mattviatura said:
Why do some of those who defend bank bailouts on here see small businesses as any different to the banks, it's a genuine question? Is it simply down to the number of noughts on the end of the figures?
Simple.A small business failing doesn't bring the economy to its knees. A big company likewise.
A big bank however will take down a lot of large and small businesses with it.
That is a failure of the regulatory system, not the banks themselves.
oyster said:
A small business failing doesn't bring the economy to its knees. A big company likewise.
A big bank however will take down a lot of large and small businesses with it.
That is a failure of the regulatory system, not the banks themselves.
So it is down to the noughts.A big bank however will take down a lot of large and small businesses with it.
That is a failure of the regulatory system, not the banks themselves.
I agree with your point about the failure to regulate.
The attitude of some of those who defend the banks on here is somewhat distasteful however. It was a disaster and a little humility wouldn't go amiss.
I'll say again I'm not anti-banker.
mattviatura said:
Why do some of those who defend bank bailouts on here see small businesses as any different to the banks, it's a genuine question? Is it simply down to the number of noughts on the end of the figures?
I don't think any of the posters (including myself) have defended the failed banks, but Barclays wasn't one of them. Yes, it has benefited from the systematic rescue attempted by central banks (and no one including Bob Diamond has said otherwise) but so have small businesses, estate agents, homeowners, footballers and basically everyone in the system by abnomally low interest rates! If you going to trot out the leftist 'let's cap their renumeration' then why not make the case for everyone (who is earning way above the average). IMO the only people who can throw stones are net savers (e.g. pensioners) who have seen the real value of their savings eroded through inflationary policies to keep the system afloat. And repeated from an earlier post, why was Barclays left to borrow from the Middle East at a hefty premium when the BoE could have provided a loan which they would have been repaid double in less than a year (as was the case with Qatar and Abu Dhabi).Edited by fido on Wednesday 12th January 11:17
fido said:
Yes, it has benefited from the systematic rescue attempted by central banks (and no one including Bob Diamond has said otherwise) but so have small businesses, estate agents, homeowners, footballers and basically everyone in the system by abnomally low interest rates!
Have you tried to leave school/university and find a job recently? Ain't none out there.Have you tried being a "saver" recently? Negative real interest rates.
Have you tried selling cars or trucks recently? Few customers, ferocious competition, miniscule margin.
It is disingenuous to say that everyone has benefitted.
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