Bankers lose the plot (From St Helens Star)
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Remembering the days when bankers were pillars of society
8:53am Thursday 5th July 2012 in Letters By Reader letter
I REMEMBER a time when workers doffed their caps to those pillars of society: the local family GP, the vicar and of course the local banker.
In those bygone days he knew most of his customers by first name and was considered a valuable member of the community especially to his local businesses where he offered sound advice.
You would have thought after the debacle of the banking collapse of 2008, they would have learned their lesson.
But no they just said thanks very much and carried on fleecing the very public who had saved them, firstly with mis-selling mostly worthless personal protection insurance, for which we have had to pay billions in compensation as we now own 80% of some of these banks.
Now they have bankrupted many businesseses by lending them money with complex terms linked to interest rates.
If that was not enough we find they were even fixing the daily interest rate which banks use to lend to each other where even a decimal point can earn those in the know millions in commission.
Meanwhile the poor customers was paying far more than they should.
Some of these were large corporates who use this money to invest in the future of their companies. It took the American regulators to discover this and even now the FBI are looking at over 20 large banks worldwide, while as usual our authorities sat on their hands.
It gets better... we now find that because of Labour’s de-regulation our banking industry, the serious fraud office cannot get involved, even though these people have bankrupted the nation to the tune of untold billions of your money.
If you defraud the benefit system of a few thousand pounds you are named and shamed and on top of a fine, made to repay your ill-gotten gains.
It’s time these bankers had their collars felt and if we cannot do it let’s hope the Americans can apply for extradition of these unsavoury characters, where the sentence really does fit the crime.
But Cameron cannot allow this to be kicked into the long grass, with the promise of action tomorrow, never today.
Harry Bradbury, Loughrigg Avenue, St Helens.
Comments(60)
Sankey
says...
12:43pm Thu 5 Jul 12
Bill Bradbury
says...
1:47pm Thu 5 Jul 12
So I can't understand why Cameron does not want it. A golden opportunity to lay once and for all if Labour was guilty or not.
Sankey
says...
3:23pm Thu 5 Jul 12
PM
says...
5:33pm Thu 5 Jul 12
mikeperry109 wrote:Well a long and proper inquiry would get to the truith.I can understand why you and your Tory chums would be against that and in favour of an inquiry headed by a Tory.
Glad that Harry picked up on the fact that those who are shouting the loudest for a long and expensive public inquiry are the ones who allowed this to happen - the Labour Party in government. I agree with Harry - let the Yanks have them, all those involved, and jail them for the rest of their lives - as well as taking all their assets.
mikeperry109
says...
5:57pm Thu 5 Jul 12
Sankey
says...
6:00pm Thu 5 Jul 12
pitbullboxing
says...
6:06pm Thu 5 Jul 12
Sankey
says...
6:59pm Thu 5 Jul 12
pitbullboxing
says...
7:39pm Thu 5 Jul 12
BillMitch
says...
10:04pm Thu 5 Jul 12
PM wrote:Could you imagine the uproar if a Labour PM had set up and inquiry , headed by a Labour person that involves a committee dominated by Labour MPs? That isn't getting to the truth that's writing the conclusion before the inquiry.Given the chaos caused, and to have the full confidence of the public- politicians have to sit this one out to get to the real truth.
mikeperry109 wrote:Well a long and proper inquiry would get to the truith.I can understand why you and your Tory chums would be against that and in favour of an inquiry headed by a Tory.
Glad that Harry picked up on the fact that those who are shouting the loudest for a long and expensive public inquiry are the ones who allowed this to happen - the Labour Party in government. I agree with Harry - let the Yanks have them, all those involved, and jail them for the rest of their lives - as well as taking all their assets.
BillMitch
says...
10:12pm Thu 5 Jul 12
Sankey wrote:I think you will find growth under Labour was stable , overheating the economy entails very rapid growth fuelled by credit.Labour simply continued the laissez-faire policies of the Tories with minimal tinkering at the edges. As for seeing sense, surprisingly i am finding it difficult to recall any calls from The Conservatives calling for tighter banking regulation.Quite the opposite. So we would be in the same, if not worse position had we had unbroken Tory government from 1997 to 2010
I have maintained and I maintain to this day Gordon Brown was mentally unstable and still is. When he let slip in the commons he had saved the world he meant it. He believed the laws of gravity did not apply to him. They deliberately overheated the economy with credit and insane banking practices and anyone with any sense could see where it would end up. The outcome of this madness was armies of pointless public sector jobs and mass welfare to buy votes for the corrupt modern day labour party. And we have misery now for generations. Thank you New Labour !
chasmcn
says...
10:34pm Thu 5 Jul 12
chasmcn
says...
10:38pm Thu 5 Jul 12
pitbullboxing
says...
10:38pm Thu 5 Jul 12
PM
says...
12:12am Fri 6 Jul 12
Sankey wrote:I'm not sure to what you refer.Only an idiot would think the Labour Party is a socialist party.
PM grow up please. Why for once can't you accept reality? the modern labour party is no more socialist than David Cameron.
PM
says...
12:17am Fri 6 Jul 12
pitbullboxing wrote:Dear me, so macho, in username and words at least. I'm sure Mike is quite able to explain why he prefers a Tory led inquiry into British banks rather than a full judge-led public inquiry.
He is as my army captain friend would say a "keyboard warrior". Would he say that to Mike's face?
PM
says...
12:21am Fri 6 Jul 12
mikeperry109 wrote:I fully accept Labour lost the plot somewhat in government, all government do eventually. What is something of a mystery is why you appear to be against a full public inquiry into the chaos in British banking-Labour's position- and even use the Tory line that it will be costly and too lengthy. I can see why the Tories want a Tory-led inquiry into the issue......why do you?
Well, PM, my Mum is a Tory, my Dad was a bit of a Communist, and I am a member of a socialist party - but I have never, and never will, vote Tory. I just tell it like I see it - and the truth seems to upset people like yourself, who fail to recognise that the last Labour government was corrupted by power, totally incompetent and deserved to be kicked put of office, hopefully for the rest of my lifetime.
PM
says...
12:24am Fri 6 Jul 12
pitbullboxing wrote:Aren't the bilderbergs the ones that turn into giant lizards and arrived in spaceships to rule the world?
also a member of bilderberg , council on foreign relations , comm 300 and a very good friend of the rockerfellers - not on his own either!
PM
says...
12:25am Fri 6 Jul 12
chasmcn wrote:Yes , amazing is it not?
So we are to have the fiddling MP's to hold a inquiry into the fiddling bankers .
PM
says...
12:33am Fri 6 Jul 12
pitbullboxing wrote:David Icke? He of the giant reptiles , the son of god, the god-head. Oh Dear , oh what an eye opener :)
Chas mate - it's all a fiddle. The best part of this is that we argue more than the parties do. In the public eye it's all at the throats but as soon as the bell rings for end of session they all play together like jolly old chums. You need to go (if you have not already?) and read some David Icke - that will open your eyes.
pitbullboxing
says...
12:35am Fri 6 Jul 12
Sankey
says...
9:54am Fri 6 Jul 12
Sankey
says...
10:07am Fri 6 Jul 12
PM
says...
10:28am Fri 6 Jul 12
pitbullboxing wrote:we can't all be brave armchair warriors. Life is about variety.
All I need to know about you in 3 sad old man comments, well done. Coward.
PM
says...
10:35am Fri 6 Jul 12
Sankey wrote:I doubt prison will be an option for any politician because having a rubbish policy isn't a crime. And you have, of course, just given the game away as to why the Tories want a limited inquiry led by a Tory reporting to a Tory dominated committee. The Tories don't want to investigate before 1997, the don't want to investigate Tory links with bankers. In sort it is a political inquiry , subject to political rules to achieve a political aim.I doubt the public will be fooled for a minute .And had the Lib Dems been in opposition still they would have died in the last ditch for a full public inquiry into British banking.....it's the right thing to do, they know it, everyone knows it.
Whether the Tories would have let the banks get away with what they did 2001 to 2008 had they been in office is hypothetical and irrelevant. The fact is they weren’t in office and whatever they said at that time they would not have been party to the discussions with the treasury that went on at that time. Labour were in office and they should be accountable. Looking forward to seeing Brown in the dock with Ed Balls. Brown will of course escape eventual prison sentence as he will claim (with justification) he was mentally ill. What’s Ed Ball’s excuse?
pitbullboxing
says...
10:47am Fri 6 Jul 12
PM wrote:You know a uni tutor once said to me " the man who thinks he knows everything - really knows nothing at all".
pitbullboxing wrote:we can't all be brave armchair warriors. Life is about variety.
All I need to know about you in 3 sad old man comments, well done. Coward.
If you can get past the Reptilian thing - you might find some interesting (and well sourced) material in his books. Why don't you try one and just humour me?? Your mind is like a parachute - it works best when it's open!!
pitbullboxing
says...
10:53am Fri 6 Jul 12
Sankey
says...
2:34pm Fri 6 Jul 12
PM
says...
2:40pm Fri 6 Jul 12
pitbullboxing wrote:Well, I am always keen to read every opinion and often read books from authors on the far right of the political spectrum.Only then do you get the full picture. I have read Icke's articles and once watched one of his two hour lectures on PBS channel. While he is heavy on the fact we are governed by a global elite- obviously true-it is very difficult to get beyond his idea that this elite are giant lizards- as was the Queen Mother. At the end of his lecture I was left with the impression that he is the messiah for conspiracy theorists and , more importantly, is as mad as a box of frogs.
In fact a lot of what he has to say is on your wavelength - greedy bankers and their scams , the religion illusion ,political corruption and the like. I bought one of his books to have a good laugh at him but I came away with a different opinion.
PM
says...
2:43pm Fri 6 Jul 12
I'm not sure where you get your information.The serious fraud office have just launched an investigation into the rigging of the inter-bank lending rate.
mikeperry109
says...
3:18pm Fri 6 Jul 12
PM wrote:Not against a Leverson style inquiry but only after Parliament has done its job - we need swift action now, not in 2 years time. Let's hope that they are more effective than with the pathetic attempt to squeeze the truth out of Bob Diamond. On the subject of reptiles, Diamond reminds me of a lizard.
mikeperry109 wrote:I fully accept Labour lost the plot somewhat in government, all government do eventually. What is something of a mystery is why you appear to be against a full public inquiry into the chaos in British banking-Labour's position- and even use the Tory line that it will be costly and too lengthy. I can see why the Tories want a Tory-led inquiry into the issue......why do you?
Well, PM, my Mum is a Tory, my Dad was a bit of a Communist, and I am a member of a socialist party - but I have never, and never will, vote Tory. I just tell it like I see it - and the truth seems to upset people like yourself, who fail to recognise that the last Labour government was corrupted by power, totally incompetent and deserved to be kicked put of office, hopefully for the rest of my lifetime.
By the way, PM, there's a meeting of the Socialist Labour Party in Liverpool this weekend - fancy coming along? It will do you good to get out!
Sankey
says...
3:36pm Fri 6 Jul 12
PM wrote:No New Labour bankrupted the country it was not the bankers who spend money on the public sector like tommorrow, well there was a tommorow. What New Labour did was the same thing as happened in Greece but we have a stronger GDP otherwise we would be in the hands of the IMF now and had Gordon Brown won the last election we would be in the hands of the IMF now without any doubt
" we now find that because of Labour’s de-regulation our banking industry, the serious fraud office cannot get involved, even though these people have bankrupted the nation to the tune of untold billions of your money"
I'm not sure where you get your information.The serious fraud office have just launched an investigation into the rigging of the inter-bank lending rate.
Harrybradbury
says...
9:04pm Fri 6 Jul 12
it,s only now S.F.O.have said they are going to get involved,and are setting up a specialist team to look at all aspect,s of this.
This is due to the unprecidented anger which as really stirred up the general public,who have had enough and said a curse on all of your house,s.They want the culprit,s to face the full force of the criminal law,and if this shake,s our political system to it,s foundation,s then some good will come out of it,the silent majority have spoken,and this blog site and thousand,s like it can be a force for good,and causes healthy debate.
Harry.
chasmcn
says...
10:30pm Fri 6 Jul 12
Sankey wrote:Funny i remember Cameron and Osborne promising to match Labours spending while in oppression
PM wrote:No New Labour bankrupted the country it was not the bankers who spend money on the public sector like tommorrow, well there was a tommorow. What New Labour did was the same thing as happened in Greece but we have a stronger GDP otherwise we would be in the hands of the IMF now and had Gordon Brown won the last election we would be in the hands of the IMF now without any doubt
" we now find that because of Labour’s de-regulation our banking industry, the serious fraud office cannot get involved, even though these people have bankrupted the nation to the tune of untold billions of your money"
I'm not sure where you get your information.The serious fraud office have just launched an investigation into the rigging of the inter-bank lending rate.
Tories "to match Labour spending http://www.youtube.c
om/watch?v=bR_hfQU-4
r0,
seeing as you are commenting on the IMF in their 2010 report on the credit crash they said it was not govt borrowing at fault that was at accepetable levels it was the private debt owned by poor and middle income people to the banks which had got out of hand to bad management of handing out loans that people could not afford now if thats not the banks or bankers i dont know who was offering the loans ie not checking that people could afford the debt because the big fat commission on the loan blinded them ,The IMF also went on to concluded that poor and middle wage earners need to have a increase income as for the last 30yrs their wages have stagnated while the rich have got richer.
chasmcn
says...
10:59pm Fri 6 Jul 12
Harrybradbury wrote:Is that the same S.F.O that has had its budget cut in2010/11 by 26% and is to have a further 25% cut to its budget by 2014 and that its best staff have resigned and left do to not being able to do their jobs correctly due to lack of money so i wont hold my breath on the govt going after wealthy rate riggers .
To all,
it,s only now S.F.O.have said they are going to get involved,and are setting up a specialist team to look at all aspect,s of this.
This is due to the unprecidented anger which as really stirred up the general public,who have had enough and said a curse on all of your house,s.They want the culprit,s to face the full force of the criminal law,and if this shake,s our political system to it,s foundation,s then some good will come out of it,the silent majority have spoken,and this blog site and thousand,s like it can be a force for good,and causes healthy debate.
Harry.
chasmcn
says...
11:01pm Fri 6 Jul 12
Sankey
says...
10:06am Sat 7 Jul 12
jumper
says...
8:20pm Sun 8 Jul 12
jumper
says...
8:22pm Sun 8 Jul 12
Harrybradbury
says...
8:44pm Sun 8 Jul 12
Harry.
CountyPalatine
says...
10:38pm Sun 8 Jul 12
We pay £35m per DAY to the Communist EU. None of the commission are elected.
Our elderly relatives are suffering, battered by idiot 'welfare' carers. We are looking for savings. We are being dragged down to the sheer desperation of insanity. Why?
The European Union insists we pay the fee. It invades our Nationality, withholds the people of St Helens from thriving, insists we regard ourselves as European first and British second.
It squanders £100s of millions of pounds which can't be accounted for, it tries to remove a sense on Nationality, which, as our ancestors painfully know, creates Nationalism.
It's a pariah, that nobody seems to care about, that takes so much of our budget, that takes jobs from our Armed Forces, that takes a level of care away from the elderly, that allows an influx of uneducated, and untrained foreign people into our Country with access to our Welfare system.
Bleat on Harry, the World isn't listening. Change your politics. You bore me.
CountyPalatine
says...
10:42pm Sun 8 Jul 12
mikeperry109
says...
11:49am Mon 9 Jul 12
CountyPalatine wrote:Don't understand that comment - is it cryptic or am I being thick?
Mike, why don't you grow some?
CountyPalatine
says...
3:00pm Mon 9 Jul 12
That's why we have a Country full of immigrants and chavs, a massively diluted vote, Labour have complete idiots heading them up, the Tories have headed centre-left, the Lib Dems have had their first look at the books and shifted right, and we give £35m a day to a Communist culture. You might as well tell it as it is.
mikeperry109
says...
5:12pm Mon 9 Jul 12
CountyPalatine wrote:I have never classified myself as simply left wing - on some issues such as immigration the left would throw me out! I am a socialist in that I believe that everyone should share in the wealth that we as a nation create, and everyone should contribute fairly towards the society in which we live. I therefore condemn equally the tax avoiders and the benefit cheats, I oppose the free movement of labour because it denies many a decent living wage, and I would withdraw from the European Union tomorrow as it is destroying our democracy. If this makes me appear centre right then so be it .
No, you're very intelligent. I don't understand you though. You are centre-right dressing yourself up as a lefty? Why bother, it isn't a popularity contest?
That's why we have a Country full of immigrants and chavs, a massively diluted vote, Labour have complete idiots heading them up, the Tories have headed centre-left, the Lib Dems have had their first look at the books and shifted right, and we give £35m a day to a Communist culture. You might as well tell it as it is.
jumper
says...
7:08pm Mon 9 Jul 12
Sankey
says...
7:41pm Mon 9 Jul 12
pitbullboxing
says...
8:25pm Mon 9 Jul 12
Harrybradbury
says...
9:26pm Mon 9 Jul 12
Harry.
Sankey
says...
9:29am Tue 10 Jul 12
mikeperry109
says...
12:33pm Tue 10 Jul 12
Sankey wrote:Is it not interesting that withdrawal from the European Union is the policy of both the left and right wing parties - indeed it was Labour Party policy before that idiot Kinnock was elected leader. Today's trade figures surely point to our return to trade world wide and withdrawal from this anti-democratic and corrupt organisation.
I am sure on a lot of politics Mike I would disagree with you but much I agree with. I am accused often of being a Tory but I honestly don’t think the modern Tory party is up to much either. Politics is corrupt they may not break the law but modern politicians of all three parties are in it for personal gain be that careers or sitting in safe seats drawing the money for decades while effectively doing nothing. And yes Bill I do include the Tory safe seats too along with the sitting tenant we have in St Helens North.
Sankey
says...
3:40pm Tue 10 Jul 12
Harrybradbury
says...
8:38pm Tue 10 Jul 12
Harry.
mikeperry109
says...
2:08am Wed 11 Jul 12
Harrybradbury wrote:The LibDems were always a nonentity, Harry - they got power in St. Helens through hard work on local issues, a coalition with the Tories, and the fact that the long serving Labour administration had become complacent.
Well i,ll give it to Cameron he as nicely managed to sideline the Liberal,s over reform of the Lord,s,meanwhile he,s busy putting blue water between the tory,s and Clegg,as he lead,s his party into certain oblivion,his rank and file have alreay deserted in drove,s,St.Helens being a good example of total collapse within three year,s,from leading the council,to being a non functional irrevelance,it,s the same across the country,i hope the price Clegg will pay for his dalliance with power was worth it,a heavy price indeed,the coalition will split before the 5 year,s is up,Cameron and Milliband and U.K.I.P. will divide the spoils.
Harry.
mikeperry109
says...
2:09am Wed 11 Jul 12
Harrybradbury wrote:Seems like the left and the right are in agreement, Sankey.
Well i,ll give it to Cameron he as nicely managed to sideline the Liberal,s over reform of the Lord,s,meanwhile he,s busy putting blue water between the tory,s and Clegg,as he lead,s his party into certain oblivion,his rank and file have alreay deserted in drove,s,St.Helens being a good example of total collapse within three year,s,from leading the council,to being a non functional irrevelance,it,s the same across the country,i hope the price Clegg will pay for his dalliance with power was worth it,a heavy price indeed,the coalition will split before the 5 year,s is up,Cameron and Milliband and U.K.I.P. will divide the spoils.
Harry.
jumper
says...
3:55am Wed 11 Jul 12
Sankey
says...
8:46am Wed 11 Jul 12
mikeperry109
says...
11:15am Wed 11 Jul 12
Sankey wrote:Put my last comment in the wrong box. It seems that the left and right wing parties are in agreement over Europe. I opposed it in 1975 - my Dad warned me about it and everything he said has come true - Heath conned us all. We should be given a referendum with a straight yes or no and we will get at least 60% yes for out.
Clearly the next election will be a straight Labour vs Tories. Unless Cameron promises a referendum on europe he will lose as UKIP will split the Tory vote. Watch both parties fighting it our over europe in the next election. Great news for me as I hate the EU. Dream come true I would even settle for Milliband if it mean't we were out of the EU
Harrybradbury
says...
10:54pm Wed 11 Jul 12
Also i agree with Sankey no doubt the E.E.C will be high up on the agenda,and we know were they stand on that,but with the Liberal,s a 360 degree turn is not impossible as they have a track record on turning if it suit,s them,conviction politics was never their strong point as it was alway,s all thing,s to all men,but Clegg know,s his place in history is assured,like Moses who led his tribe into the wilderness,enough said.
Harry.
mikeperry109 says...
11:13am Thu 5 Jul 12