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Barclays bank chairman Marcus Agius to resign

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posted on Jul, 1 2012 @ 02:45 PM
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Barclays bank chairman Marcus Agius to resign


www.bbc.co.uk

Marcus Agius is to resign as the chairman of Barclays in the wake of the Libor lending rate scandal.
(visit the link for the full news article)




posted on Jul, 1 2012 @ 02:45 PM
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Now is he going of own free will or was he pushed?
Not that that matters, he is now safely out of the way, so can avoid questions and can take bonus, get another post and generally be forgotten about.
To be honest I suspect this is some scam to deflect and subdue further revelations.
Seems, from this article, that RSBS sacked 4 dealers late last year for some miss dealing.
What I find strange is that banks tend to study people who want loans very closely yet are unable to carry out the same with their own dealings.
I wonder what would have happened if nobody had bailed the banks out?


www.bbc.co.uk
(visit the link for the full news article)


CX

posted on Jul, 1 2012 @ 03:02 PM
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Oh i do like posts like this, far too few and far between.


One by one they will fall. Yes they will be replaced, and yes they will probably always be corrupt, but they will come unstuck in the end.

Sympathy for filth like this is not an option when you see how much it affects people.



CX.
edit on 1/7/12 by CX because: (no reason given)



posted on Jul, 1 2012 @ 03:49 PM
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When I was little, I used to think that the people around me knew what they were doing and that it benefited all.
Not sure when that view changed, but it sure has.
CX? You own one of those? Great machines designed for the pleasure of people not profit. Hehe.



posted on Jul, 1 2012 @ 04:11 PM
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Ok , first, a point of order. There is not a single senior executive, or person at or above the pay grade of those who performed these acts, in Barclays bank, who in my opinion are not guilty of either general fraud, or at the worst economic terrorism.

Second, Bob Diamond may have a lot to say about the employees who were caught out, but he is ultimately responsible for the actions and the consequences of the actions, of everyone under him, and deserves his rear handing to him on a plate for what he has allowed to continue.

Furthermore, these resignations, whether Mr Diamond refuses to do so or not, are a cop out. Nothing short of being set on fire in the street for DARING to allow this behaviour to continue, and worse for allowing it to be covered up, should be tolerated.

It has become clear also, that Barclays are not the only bank with this Libor fixing problem, just the first to be caught out. That does not mean that the punishment for Barclays ought to be any less harsh, but it does pose one very good question as far as I am concerned. That would be:

What does the British citizen have to do, to get some damned respect out of the parasites that use our money to play their games? We have tried being reasonable, we have tried appealling to their sense of decency, morality.... Do we now have to make them FEAR us in order to be treated appropriately? Do we have to make them so terrified of the consequence of imperfect moral performance, that they would rather kill themselves than partake in treachery ?

In short... What measure can we put in place, to effectively render these endless abuses a thing of the past?


CX

posted on Jul, 1 2012 @ 04:41 PM
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Originally posted by dowot
CX? You own one of those? Great machines designed for the pleasure of people not profit. Hehe.


Sorry.....you lost me....own one of what machines?


CX.



posted on Jul, 3 2012 @ 03:24 AM
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www.bbc.co.uk...

Bob Diamond has now resigned, with a good few million in shares etc. Going to be tough then, unemployed.

There was to be some sort of investigation by a Treasury Committee on Wednesday, perhaps a reason to go?

Is this like the chief executive, Rebekah Brooks, who left her post at the News of the World in a similarly timed move?

Now, ex-Chairman Marcus Agius, who also resigned the other day, will be involved in the selection of a new CE. Did they run a leaving fund, if so, I wonder if they get their money and card back? Haha.

Strange times.

Oh and CX, you obviously did not own one! Still no need to feel ashamed, there were better cars, just not many.



posted on Jul, 3 2012 @ 03:34 AM
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As an American citizen, this resignation (and subsequent fleeing to the US) seems like just a ploy to avoid having to face the Commons Select Committee this week. For a UK citizen, ignoring such a summons will land you in jail, but for Mr Johnny Foreigner he can just do a runner.

I hope if that is the case, they prevent him from working for any FTSE traded or UK based business ever again. Seeing as he is finance, being locked out from the City will hurt him more than any resignation ever will.



posted on Jul, 3 2012 @ 04:51 AM
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a dollar to a donut that he gets a primo retirement package,,,

it's all too little too late...considering he must have had some input into crafting the infamous 'living wills' for the major (TBTF) banks...articles.chicagotribune.com... living-wills

Big banks craft "living wills" in case they fail
June 27, 2012|David Henry and Dave Clarke | Reuters



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