The international bank watch thread

[morticia]

Well, we didn't really have an international thread to keep an eye on those spotless paragons of virtue and pillars of international commerce, our glorious global banking industry. Given the inspirational feelgood factor we all feel in our bones these days at the very mention of the word "bank", I felt that perhaps this was a glaring omission.

I was inspired to start this one by the glorious example that may allegedly have been set by some employees of a largely state owned bank in the City of London.

Serious achievements in the field of tax evasion being alleged. Particularly impressive since RBS is 80% state owned.....

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9076563/RBS-staff-held-in-tax-fraud-investigation.html

Modestly, RBS are keeping their shining light under a bushel as far as possible. "A spokesman for RBS commented: “We do not comment on ongoing investigations. We are fully co-operating with HMRC.” "

However, as bonus season is almost upon us, fear not, my friends, a majority of RBS' hard working execs will no doubt receive more than adequate recompense.

"The arrests will prove highly embarrassing for RBS as it prepares to hand out the slug of bonuses, and comes just a fortnight after Stephen Hester, chief executive, was forced to give up his own £963,000 bonus after the payment of the all-share award triggered a Parliamentary debate."

Any more glorious examples of inspiring excellence in the area of banking (scandal)....post 'em here!

[Captain Con O'Sullivan]

The line between organised crime and international investment banking disappeared years back. It used to be olive oil importers and sports clubs that were fronts for organised crime syndicates and from what I've seen in the last five years I can only conclude that banks are now the required front organisations for major cross-border crime.

[morticia]

http://www.guardian.co.uk/business/2012/feb/13/banks-miss-project-merlin-targets-small-business

Well, despite all that lovely QE the banksters are benefiting from in munificent Blighty, it appears they still can't QUITE bring themselves to lend quite enough of that lovely lolly to small businesses.

Well, dammit, those banks have bonuses to pay, stop tutting! RBS, as usual, appears to feature prominently in the cross hairs. Looks like de-knighting Sir Shred hasn't quite got them out of the authorities' viewfinder yet.

I thought corporations were supposed to be responsible to their shareholders, but that obviously doesn't really work when that shareholder is the Government.

[C. Flower]

Chinese banks rolling over regional municipal loans ? No, link, sorry.

[morticia]

Chinese banks rolling over regional municipal loans ? No, link, sorry.

Would that be the same sort of rolling over that had all our developers paying no interest on their loans for yonks before Mick Wallace let the cat out of the bag on Prime Time one night?

gulp...

[C. Flower]

Would that be the same sort of rolling over that had all our developers paying no interest on their loans for yonks before Mick Wallace let the cat out of the bag on Prime Time one night?

gulp...


Default on the QT.

[Kid Ryder]

Default on the QT.

Yeah, but Mick doesn't have 'defaulter' written on his forehead, does he?:rolleyes:

Certainly not in the same way the rest of us have 'easy mark' have written on ours it seems...:rolleyes::mad:

[morticia]

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/9159424/Ben-Bernanke-tells-EU-to-clean-up-banks.html

That nice Mr. Bernanke isn't very happy with the Eurozone banking system, says more cleaning up required

No sh!t, Sherlock?

meanwhile, the unlikely socialist of the year award goes to Tim Geithner, who is warning Europe against too much austerity

http://www.guardian.co.uk/business/2012/mar/21/eurozone-crisis-live-bernanke-on-europe

so I guess the message is "print, baby, print"??

[ang]

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/9159424/Ben-Bernanke-tells-EU-to-clean-up-banks.html

That nice Mr. Bernanke isn't very happy with the Eurozone banking system, says more cleaning up required

No sh!t, Sherlock?

meanwhile, the unlikely socialist of the year award goes to Tim Geithner, who is warning Europe against too much austerity

http://www.guardian.co.uk/business/2012/mar/21/eurozone-crisis-live-bernanke-on-europe

so I guess the message is "print, baby, print"??

Dontcha know the only way to save banks is to stuff them with loads of money and ensure the plebs pay.

Yes we know Timothy corporates are starting to struggle and may just need a little bit of that "free money" to ensure jobs loike.

[morticia]

Dontcha know the only way to save banks is to stuff them with loads of money and ensure the plebs pay.

Yes we know Timothy corporates are starting to struggle and may just need a little bit of that "free money" to ensure jobs loike.

Indeedy. And just to add to the charge sheet, here's the link to the Dodgy German Banks thread. Always good to keep a comprehensive record, don't you think?

In fairness to the US regulators, looks like they might be the ones to do some of the outing??

http://www.politicalworld.org/showthread.php?t=11401&page=2

[morticia]

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9163733/Banks-urged-to-raise-fresh-capital.html

meanwhile, across the little pond... UK's financial watchdog is currently unhappy with the amount of capital held by UK banks despite them being "the best capitalized in the world"

John Bull, Taxpayer, not about to win the World's Happiest Bunny award, I should imagine...

[ang]

Indeedy. And just to add to the charge sheet, here's the link to the Dodgy German Banks thread. Always good to keep a comprehensive record, don't you think?

In fairness to the US regulators, looks like they might be the ones to do some of the outing??

http://www.politicalworld.org/showthread.php?t=11401&page=2

With you on that one :D Could be some leverage there morticia so to speak.