Yep, I'm going to wait to see which other banks were involved and then change my account.

(PsychoChomp, Thu 28 Jun 2012, 10:32, 3 replies, latest was 13 years ago)

Nat West were good until last week
and their online service is easy to use, much better than Barclays, which is a nightmare
( Naked Ape call me Caitlyn, Thu 28 Jun 2012, 10:32, Reply)

There's a few emails and IM's released which are basically.
"yo dawg, can you lie in the figures today or I'll lose a bit of money"
"sure thing"
"whoop, opening champagne"

cunts.
(PsychoChomp, Thu 28 Jun 2012, 10:34, Reply)

It does appear more and more that the banking sedctor is rotton throughout
The problem is of course that like hire like and nurture those people within the current culture. To be the one upstanding voice would mean sacrificing your career, and so on and so forth.
( Naked Ape call me Caitlyn, Thu 28 Jun 2012, 10:37, Reply)

It's also a fundemental problem with the LIBOR, in that it's sent in manually by all the bankers, and then calculated.
It should be automatically registered and published.
(PsychoChomp, Thu 28 Jun 2012, 10:41, Reply)

how is it rotten?
this form of banking exists singly and purely to make money. It has no more moral obligation to humanity than a rock falling from the sky has not to crush you.

I fucking despise it, but it's idiot to suggest that the whole sector is somehow rotten or bad. It's absolutely brilliant at what it does. Because even when it fails, it still succeeds.
( the mighty badger Aphrodite, on a bar stool, by your side, Thu 28 Jun 2012, 10:47, Reply)

It's rotton if they are systematically using illegal activities to maximise their return

( Naked Ape call me Caitlyn, Thu 28 Jun 2012, 10:54, Reply)

why?
law is a code of morality. Morality is not something you can apply to an investment bank, since it exists to make money, which is a purely amoral purpose.

a fine for breaking the law is merely another loss. Someone going to prison is collateral damage; replace them. If they make more money breaking the law than they are fined for doing it, it's a net win and they are still good at what they are doing : not rotten.
( the mighty badger Aphrodite, on a bar stool, by your side, Thu 28 Jun 2012, 11:19, Reply)

see also: BP, Gulf of Mexio, Union Carbide, Bhopal and any fucking oil company in Nigeria for more extreme examples
Everything has a value when your business is money.
( the mighty badger Aphrodite, on a bar stool, by your side, Thu 28 Jun 2012, 11:22, Reply)

Why wait

( Light In Chains maker of the ikea sofa, Thu 28 Jun 2012, 10:33, Reply)

Pay off my overdraft.

(PsychoChomp, Thu 28 Jun 2012, 10:39, Reply)

you're going to wait and see which other banks were involved
in something which you don't understand, is the mainstay of financial trading, and fundementally makes no difference at all to anything in your life, and then change banks?

You might as well moan about variance in shark's hunting habits.
( the mighty badger Aphrodite, on a bar stool, by your side, Thu 28 Jun 2012, 10:36, Reply)

I understand that reporting correct figures is important.
I understand that they didn't, systematically.
(PsychoChomp, Thu 28 Jun 2012, 10:38, Reply)

Does no one audit these people!

( Naked Ape call me Caitlyn, Thu 28 Jun 2012, 10:40, Reply)

Libor is made by the British Bankers Association, they like hands off style regulation.
FSA should take it up.
(PsychoChomp, Thu 28 Jun 2012, 10:42, Reply)

which would leave them different from every single major corporation
goverment department and economy in the world ... exactly how?

In any case, they didn't publish false financial figures. They colluded to set futures interest rates. I don't really think that's the same thing.
( the mighty badger Aphrodite, on a bar stool, by your side, Thu 28 Jun 2012, 10:43, Reply)

I'm pretty sure our figures are accurate
either way finance are always asking me for evidence of work etc for the suditors
( Naked Ape call me Caitlyn, Thu 28 Jun 2012, 10:47, Reply)

do you work for a multinational?

( the mighty badger Aphrodite, on a bar stool, by your side, Thu 28 Jun 2012, 10:47, Reply)

Yeah

( Naked Ape call me Caitlyn, Thu 28 Jun 2012, 10:53, Reply)

I'm pretty sure they aren't, then.
Call me Captain Suspicious, but multinationals are well know for being honest and transparent in their financial reporting and paying every single penny of tax they owe.
( the mighty badger Aphrodite, on a bar stool, by your side, Thu 28 Jun 2012, 10:56, Reply)

You really don't wnat to know who owns my company then!
CQ would come back just to shout at me and flounce again.

EDIT: or who my client is for that matter
( Naked Ape call me Caitlyn, Thu 28 Jun 2012, 10:57, Reply)

arf, I don't really care
capitalism and corporate greed are merely manifestations of the natural behaviour of humanity. I don't really like it but it's absolutely mental to think that it could be different. You'd be pissing against a hurricane of human nature.
( the mighty badger Aphrodite, on a bar stool, by your side, Thu 28 Jun 2012, 11:05, Reply)