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Could a Big Bank go down?
With Barclay's in the news for their Fixing of rates of the LIBOR it got me thinking that this is just the tip of the Iceberg and could send a Major British Bank going down like Lehman Brothers in the U.S.A- could the unthinkable happen
i know most of the british banks are part owned by the Govt/taxpayer but could it happen under The Government watch that a Big Bank collaspes and would then happen what would the Government try and do to salavge the situation if possible
Is there anymore or anyother big shocks to comeout of what has happened this week and could members of of the Prevous Government(s) be involed somehow and where member of the Bank of England involved aswell and are we likely to see somemore big ceo, Chief Exex or even MP s in the last Labour Government to resign if involved
i know most of the british banks are part owned by the Govt/taxpayer but could it happen under The Government watch that a Big Bank collaspes and would then happen what would the Government try and do to salavge the situation if possible
Is there anymore or anyother big shocks to comeout of what has happened this week and could members of of the Prevous Government(s) be involed somehow and where member of the Bank of England involved aswell and are we likely to see somemore big ceo, Chief Exex or even MP s in the last Labour Government to resign if involved
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Certainly not Barclays but RBS has to be a contender for further state intervention,it is alleged Darling knew about the crisis at RBS months beforehand and the Libor scandal will end a few careers in the Labour party. The following is what i posted on another thread that may interest you.
Of course it will damage them, on another note according to the Edinburgh Evening News the Scottish Crown Office is mounting an investigation into bank malpractice and have Fred Goodwin in their sights so I believe a certain A Darling will be in the frame as well as it was alleged he knew about the RBS crisis months beforehand yet did nothing.
Your first part said he knew, the second quoted part says alleged to have known.
Have you got a link to this information and any link to the Labour Party members who will have their career ended?
Oh dear are you sweating a bit, all these weeks of mulling over failures in the Government and then along comes a Labour Party scandal.
A u-turn on pastie tax will pale into insignificance.
Why would I be sweating?
Labour party scandal? It's a banking scandal isn't it, unless of course, you can show otherwise?
There are other banks facing huge fines but Osborne has ensured that the fines will go back to the taxpayer.
That was a mistake on my part i should have used alleged as it keeps DS happy. Fixed the original post.
Well Darling will be a casualty if Fred while saving his neck lands him in it, pretty sure the treasury team from 2007-10 are sweating about their part in the Libor scandal coming out.
Of course they are and Miliband is backing himself up a corner over the vote tomorrow.
Loved Balls excuse about being children's minister, creep was the one that bungled the Shoesmith sacking. If the treasury did put pressure with regards to hints and email abut the Libor rate then Brown,Darling ect are up to their neck in it.
I really hope this whole thing shuts him up for a while and wipes that smile off his cocky face.
The votes will be whipped so on numbers alone Labour will lose.
It's not about keeping ds happy, it's about being accurate. Something conservative supporters seem to be having an awful lot of trouble with lately...
So there is nothing to say Darling had any prior information about RBS problems then, either months or weeks?
What part did Darling play in it then? Who are the treasury team that should be worried? I keep asking but no one can tell me.
I have NO political affiliation, if i was that way i'd be more inclined to support Labour, oh there is evidence if an ex DS FM/ RBS employee is correct.;)
Darlings role in the RBS scandal will come out, if there is enough evidence against Goodwin to charge him with bank malpractice then he will sing like a drunken Scotsman and implicate others in RBS and government at the time in return for leniency.
Ask DS to invite back Berties Assets as he/she seemed to have a grasp on things at RBS ect at the time.
So that's a no then? Why post that he did if you have nothing to show he did?
http://www.telegraph.co.uk/news/politics/9376923/Bob-Diamond-Labour-ministers-were-warned-about-Libor-fixing.html
But again, doesn't say who or even why they would be involved in setting Libor. Isn't that overseen by the BBA and BoE?
If the complaint was made to government, then I'm sure Barclays will have copies of what was reported and to who?
Note: I trust bankers even less than I do politicians!
"It's impossible to have a political solution to a balance sheet problem" says Paul Brodsky, bond market expert and co-founder of QB Asset Management.
The world has simply gotten itself into too much debt. There are creditors that expect to be paid, and debtors that are having an increasingly difficult time making their coupon payments. No amount of political or policy intervention is going to change that reality. (Unless a global "debt jubilee" transpires, which Paul thinks is unlikely).
Looking at the global monetary base, Paul sees it dwarfed by the staggering amount of debts that need to be repaid or serviced. The reckless use of leverage has resulted in a chasm between total credit and the money that can service it.
So how will this debt overhang be resolved?
Central bank money printing -- and lots of it -- thinks Paul.
At this point, the danger posed by the instability of our monetary and fiscal house of cards is so great that trying to time an investment program to when this avalanche of printing will occur is too risky, in Paul's opinion. It's time to shift your remaining capital into hard assets and sit on the sidelines to watch the carnage play out.
http://www.zerohedge.com/news/paul-brodsky-central-banks-are-nearing-inflate-or-die-stage
I think it's inevitable as the above shows, where is there left to go for banks?
and it should have happened in 2008
if a bank has lent recklessly and made bad decisions
let it fail then sell the good assets and all the bad ones tough luck
all the rich speculators get burned-- good
this is how the market works bad banks fail good one survive
instead of now we have socialized the debt and we are rewarding failure
bank will keep on betting on risky investments safe in the knowledge the
state will bail them out
wrong