Diamond

eighteen

Active member
187 23
anyone else watching his testimony, its quite good, although doesnt say much about democracy when one of his buds is asking him questions
 

rsh01

Experienced member
1,184 299
Well he came out today with to paraphrase - banks decision to lower libor submissions was taken a year before october 2008 conversation with BoEs tucker..

Which is a change of tune from yesterday. The politicians, CBs et al will do all they can to save their skin / maintain the status quo. Wldnt be surprised if he has been told/bribed/threatened to keep his mouth shut.
 

SuddenDeath

Legendary member
14,063 143
Tony Blair allows the UK treasury to be plundered by the bankers and then once out of office goes to work for the........bankers JPM
 

Pat494

Legendary member
13,869 1,410
I wonder if he is any relation to this guy ?


Legs Diamond, was upstate New York's most celebrated criminal (robber, bootlegger, and generally glam gangster) during the 1920s. It was pretty much inevitable that he would die in a rain of bullets unleashed by another no-goodnik, but he eluded this fate for a very long time. His arch enemy, Dutch Schultz, once complained to some fellow gang members: "Ain't there nobody that can shoot this guy so he don't bounce back?" Diamond's uncanny "never say die" quality also gave rise to the nickname "Clay Pigeon of the Underworld." Legs Diamond met his match in 1931 when determined foes tracked him down to a hideout on Dove Street, in Albany, N.Y. It's still unclear who actually shot him or arranged for his "execution"; possibilities include "Dutch Schultz, the Oley Brothers (local thugs), the Albany Police Department, and relatives of Red Cassidy, another Irish gangster at the time," according to Wikipedia. But William Kennedy, founder of the NYS Writers Institute and author of the book O Albany!, says it was the Democratic Party machine and the Albany coppers whodunit.
 

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Lord Flasheart

Legendary member
9,796 975
seriously guys could this be the start of a bigger story for Barclays etc. What if someone decides to take a lawsuit against them for lost money. Could they be forced to pay huge amounts of compo etc. Can someone explain to us simple folk exactly what has happened. The libor rate is the inter bank lending rate. How would this have affected my mortgage if I was on a fixed rate or on the floating rate. What about the extra interest I was forced to pay on my credit card etc,now that must be affected?
 

SuddenDeath

Legendary member
14,063 143
lowering libor allowed for the transfer of money from savers to the idiots deep in debt after mortgaging themselves to buy ridiculously overpriced houses,
 

eighteen

Active member
187 23
it wasnt just lowered, it was also manipulated higher, the true cost of the damage is really unthinkable it could amount to 100's of billions, although to find out the cost, someone would have to go back through every bank to bank loan to calculate the real libor rate... so yeah will be awfully tough to work out, but still enormous. The really twisted thing is all the politicians are in deep with the big bankers too, so we will never get any justice, i wonder how long the establishment can keep ignoring the people before something bad happens.
 

0007

Senior member
2,307 607
seriously guys could this be the start of a bigger story for Barclays etc. What if someone decides to take a lawsuit against them for lost money. Could they be forced to pay huge amounts of compo etc. Can someone explain to us simple folk exactly what has happened. The libor rate is the inter bank lending rate. How would this have affected my mortgage if I was on a fixed rate or on the floating rate. What about the extra interest I was forced to pay on my credit card etc,now that must be affected?[/QUOTE

But wasn't the effect of Barclays's manipulation after the "encouragement" from the Bank of England to make interest rates lower than they would have otherwise been? If this indeed was the result then it's difficult to see how anybody is going to screw any money out of Barclays -- I don't suppose the "no win no fee" brigade would be interested in taking them on. And judging by Diamond's performance today it's difficult to see anybody laying a finger on him either. It will be interesting to see how much bonus etc he walks away with.
 

Pat494

Legendary member
13,869 1,410
seriously guys could this be the start of a bigger story for Barclays etc. What if someone decides to take a lawsuit against them for lost money. Could they be forced to pay huge amounts of compo etc. Can someone explain to us simple folk exactly what has happened. The libor rate is the inter bank lending rate. How would this have affected my mortgage if I was on a fixed rate or on the floating rate. What about the extra interest I was forced to pay on my credit card etc,now that must be affected?
1. There must have been winners and losers. Will they ask the winners to pay back some cash ? I think not.

2. As far as I am aware there is no mathematical formula that can give an exact libor rate. It has always been fixed by " the boys ", over a glass of champers.

The socialists think they have found a club to beat the City to death at last. A pity they never make ANY money. Just waste it.
 

rsh01

Experienced member
1,184 299
There has not been one arrest over the subprime debacle, despite the huge amount of law breaking going on. and how did barclays profit from that? oh they bought loads of lehman business for sweet FA (apart from having to give lehman senior m'ment jobs). More recently MF global stole customer deposits to bet on sovereign debt, anyone been charged? Corzine in prison? Of course not, he funded obama.

I just cannot see it changing in the near future, the public are still too comfy watching x factor and eating pizza to bother overthrowing a govt and the corrupt system. The OLSE withered out. With the MSM part of the party, it will be fairly easy to hide more bad news, wouldn't be surprised if another illegal war was started in the ME as a diversion to our woes at home.
 

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