howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
cleggy is right that he has stopped a lot of what the blues wanting to do despite them having 5 times as many honourable members, let's not forget the proposed boundary changes that he scuppered.
Keith Sansum1
- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
I think the tories did9have)given the lib dems far to much space,
but I still think the lib dems will be nearly wiped out in 2015
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Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
oh gawd blimey
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Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
Bloody Banks and Finance Johnnies cause all trouble then rub salt in the wound.........
Libor: ICAP fined $87m by UK and US regulators
A view of the City of London
US and UK regulators are continuing to investigate the rate-rigging scandal
Libor scandal
Former trader charged over Libor
Libor change responds to scandal
EU proposals to take control of Libor
Can we ever trust bankers again?...............nah
The UK broker ICAP has been fined $87m (£54m) for its part in the long-running Libor rate-fixing scandal.
In addition, three of its traders were charged with several counts of wire fraud in a federal New York court.
They face a maximum penalty of 30 years in prison for each count if convicted.
Libor rates are used to set trillions of dollars of financial contracts, including many car loans and
mortgages, as well as complex financial transactions around the world.
'Inexcusable'
Regulators have been investigating manipulation of Libor inter-bank lending rates since 2012 in the
wake of Barclays' £290m ($454m) fine by US and UK authorities. A string of international banks
have been implicated in the affair, and several criminal charges have been brought against traders.
In a statement, Michael Spencer, group chief executive officer at ICAP said: "We deeply regret and strongly
condemn the inexcusable actions of the brokers who sought to assist certain bank traders in their efforts to
manipulate YEN Libor. Their conduct contravenes all that ICAP stands for."
Mr Spencer added that none of the three individuals remained with the firm, and others who may have
been involved were no longer at the company.
In February 2013, Royal Bank of Scotland (RBS) was fined £390m ($610m) by UK and US regulators
for its part in the Libor scandal.
The UK's Financial Services Authority fined RBS £87.5m, while about £300m was paid to US regulators
and the US Department of Justice.
In July this year, the British Bankers' Association (BBA), which collates and publishes Libor - the
London Interbank Offered Rate - changed how the rate is set, as a precaution against any repeated scandal.
The BBA said publication of banks' individual submissions would be embargoed for three months to avoid
"manipulation".
Full story Independent.
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
And it wasn't there fault lol
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howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
these finance johnnies have more front than brighton, best not to pay heed to them.
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
While everyone else suffers
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Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Reg's rather tiresome bigotry still at work on this thread I see.
Yes, the regulators are doing their job sorting out some rogues that exist in every industry, profession and government. Nothing really new.
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
This lot are definitely ``All in it altogether``
Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
The headline highlights exactly what is going on all the time with the super rich and powerful
elite greedy pigs and the nasty party who bend over backwards to protect and support them
while millions struggle............Ossie announces he has launched a legal challenge against
the EU`s plan to cap bankers bonuses ????
'Let's discuss kickbacks over lunch': Tory donor's firm fined £55m over Libor fixing
Traders' emails reveal shocking conspiracy at Icap, the financial company owned by former
Conservative treasurer and prominent party donor Michael Spencer - now bankers face 30 years in jail
One of the Conservatives' most powerful and generous donors is at the centre of a political and financial
storm after City watchdogs savaged his firm for its role in the Libor interest-rate fixing scandal.
Icap, the company founded by the former Tory treasurer Michael Spencer, has been fined a total of
£55m by regulators on both sides of the Atlantic - £14m in Britain and £41m in the US - while three
former employees responsible for the misconduct have been charged in New York with conspiracy to
commit fraud and wire fraud. The New Zealand national Darrell Read and Britons Daniel Wilkinson and
Colin Goodman face up to 30 years in prison if convicted.
The news is particularly uncomfortable for the Conservatives as it emerged on the same day that
George Osborne announced he had launched a legal challenge against the European Union's planned
cap on bankers' bonuses.
The Labour leader Ed Miliband sought to draw a distinction this week between his party as a champion
of ordinary people, and the Tories as the friends of the rich and powerful.
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
just shows where the tories stand on the banks
have they learnt nothing?
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Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
The Pariah of the finance johnnies.
Payday loans: Rogue lenders face closure for 'preying on the vulnerable'
The Financial Conduct Authority today launched tough new rules to stop payday lenders preying on
vulnerable people and forcing hard-up folk into serious debt problems.
Crucially, the City watchdog announced a crackdown on the number of times lenders can roll-over
loans - one of the most profitable parts of their business and the main reason why many borrowers
get into debt they can't afford to pay.
There will also be a limit on the number of times lenders can raid borrowers' bank accounts.
At the moment they can use continuous payment authorities to go back again and again into borrower's
accounts, but that ability will be curtailed by a limit being set on the number of times CPAs can be used.
Full story Independent.
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
It is a long awaited story sadly not starting till next April
and then the companies are given 3 months,,, yes 3 months to get there act in order#
and the policing of this is questionable.
I'm in favour of this move, and wish them well
whether or not they have the teeth to carry it through we will see next year
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Guest 710- Registered: 28 Feb 2011
- Posts: 6,950
Five dirty tricks in today's rising housing market..
As house prices rise everywhere and London booms, gazumping and other familiar problems are back.
[Telegraph]
"The housing market is picking up again, which means the familiar cast of property nasties - greedy vendors, gazumping buyers and the oily agents in between - are rising like ghouls back from the dead. And they are bringing with them the old array of dirty tricks that can turn the homebuying process from being merely difficult into pure hell.
Anecdotal reports are growing of gazumping, especially in property hotspots like London and desirable postcodes of regional cities. With supply short and prices rising, buyers increasingly panic. The backdrop of the Government's Help to Buy scheme - with all the controversy it has sparked in recent days - makes younger buyers as frightened of delaying their purchase (prices rising further out of their reach) as they are of diving in at once (buying at what feel like high prices and when mortgage rates will probably rise).
It's a horrible situation for all buyers who are losing their leverage in what is increasingly a seller's market. But less scrupulous agents are doubtless relishing the long-absent power of being able to whip up a little panic - and profit from it.
All sound worryingly familiar? If you can't quite remember the property landscape of 2006 and 2007, what follows is a handy refresher on the dirty tricks of a housing boom - and how to survive them. .."
http://uk.finance.yahoo.com/news/five-dirty-tricks-todays-rising-100432700.html Ignorance is bliss, bliss is happiness, I am happy...to draw your attention to the possible connectivity in the foregoing.
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
I got caught in those years terrible situation people who do it
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Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
Courtesy Independent.
Boots owner Alliance 'uses havens to save £1.1bn in corporation tax'
Alliance Boots, the owner of Boots the chemist, has avoided £1.1bn in taxes by routing its cash through a series of subsidiaries in well-known tax havens including Luxembourg, Cayman Islands and Gibraltar, according to a new report.
The campaign groups War on Want and Change to Win and the Unite union have calculated that the company saved the money by loading the UK business with debts from its £12.2bn private purchase in 2007 and legally claiming tax relief against the interest.
The campaigners claim that 40 per cent of Boots' sales come from NHS-funded services such as prescription drugs and flu jabs - and called on the Government not to hand contracts to companies that do not pay their fair share in tax. The pharmacy giant rejected the report's findings and said it is one of the most transparent private companies in the world. Only 25 per cent of sales came from prescriptions and similar business, it added.
Last year, Alliance Boots' sales hit £22.4bn with underlying profits reaching £805m. However, the company paid just £114m in tax, including £64m in the UK, up £31m on the previous year. In the UK, under the Boots brand where it has 2,000 stores, sales were £6.55bn.
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
there all at it
ALL POSTS ARE MY OWN PERSONAL VIEWS
Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
These companies do need sorting out........
Labour leader Ed Miliband declares tax war on payday lenders
The lending companies would fund credit unions under a Labour government
Payday lending companies would be hit by higher taxes under a Labour government, with the money
raised used to build up their credit union rivals, party leader Ed Miliband will announce today.
Labour would raise about £20m a year from controversial lenders such as Wonga - either from a
1 per cent levy on their balance sheet or a 10 per cent profits tax.
The revenue would double the £13m a year currently provided by the Government to expand credit unions,
alternative non-profit groups which lend money with a maximum interest rate of 26 per cent annually.
Mr Miliband's intervention will put pressure on the Coalition to rein in payday loan firms, amid mounting
concern about their sky-high interest rates, sometimes of more than 5,000 per cent APR.
