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Realistbear

Bankster Bob May Move Barclays To N Y

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http://uk.finance.yahoo.com/news/Barclays-move-headquarters-reuters_molt-3191307034.html?x=0

13:29, Wednesday 30 March 2011
NEW YORK (Xetra: A0DKRK - news) (Reuters) - Barclays Plc is considering moving its global headquarters from London to New York due to the threat of higher capital requirements in the UK, the Wall Street Journal reported on Wednesday.
The bank has had preliminary conversations with U.S. regulatory officials on a move and is conducting an analysis of whether switching its domicile makes sense, the newspaper reported, citing a person involved in the process.

I wonder if "Bob" will generate a transfer bonus for the inconvenience of the move? I am a bit suspicious that this may be a threat as the US regulators are not as bankster-friendly as our lot.

Edited by Realistbear

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Sounds like sabre-rattling aimed at the govt. As in, "Be nice to us or we'll take away our HQ and its thousands of high-paid, high-tax-paying jobs." Speaking personally, the more high paid jobs leave the country the richer I feel! :P

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Good bye and Good naffin riddance

Yeah, f*** off to New York and take your jobs and taxes with you! :)

erm.......... no hang on a minute:

Er.... f*** off to New York but could you let us keep the jobs and taxes.

Please

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http://uk.finance.yahoo.com/news/Barclays-move-headquarters-reuters_molt-3191307034.html?x=0

13:29, Wednesday 30 March 2011
NEW YORK (Xetra: A0DKRK - news) (Reuters) - Barclays Plc is considering moving its global headquarters from London to New York due to the threat of higher capital requirements in the UK, the Wall Street Journal reported on Wednesday.
The bank has had preliminary conversations with U.S. regulatory officials on a move and is conducting an analysis of whether switching its domicile makes sense, the newspaper reported, citing a person involved in the process.

I wonder if "Bob" will generate a transfer bonus for the inconvenience of the move? I am a bit suspicious that this may be a threat as the US regulators are not as bankster-friendly as our lot.

Empty threats in advance of the IBC so they can keep their de facto taxpayer guarantee. Any government worth a bean would call the Banksters bluff and tell them to naff off - while demanding immediate repayment of all bail out and SLS monies on their way out - rest assured the Coalition shower is no such government.

Wealth creators? What a load of tosh - they cost us hundreds of billions for heavens' sake.

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If I were in charge:

(1) Make RBS and Lloyds agree that no employee shall be paid more than £150k per year.

(2) Announce that as of Jan 1st 2012 no banking group other than Lloyds or RBS shall have a tax payer backed gurantee for deposits

(3) Announce that as of Jan 1st 2012 there will be no limits on what banks can do with the money invested within them - if you do not want your money gambled with then move it to RBS or Lloyds

(4) Hear the other banks scream about socialism and illegal state support

(5) Laugh

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http://uk.finance.yahoo.com/news/Barclays-most-complained-bank-tele-1420545737.html?x=0

Barclays is most complained-about bank, FSA finds
Kara Gammell, 14:59, Wednesday 30 March 2011
More than 5,000 complaints are lodged against banks in Britain every day, according to latest figures from the Financial Services Authority, the City regulator.
The figures show that 999,196 grievances were raised against the high street banks in the last six months of last year. Substandard service and poor advice on pensions and insurance were among the chief complaints of angry customers.

Very very good riddance Bob. Turn the lights off before you go there's a good fellow.

Edited by Realistbear

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If I were in charge:

(1) Make RBS and Lloyds agree that no employee shall be paid more than £150k per year.

(2) Announce that as of Jan 1st 2012 no banking group other than Lloyds or RBS shall have a tax payer backed gurantee for deposits

(3) Announce that as of Jan 1st 2012 there will be no limits on what banks can do with the money invested within them - if you do not want your money gambled with then move it to RBS or Lloyds

(4) Hear the other banks scream about socialism and illegal state support

(5) Laugh

Wholly sensible suggestions, pity they weren't introduced in 2008. As I said at the time, nationalised banks endgame has been postponed not cancelled.

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If I were in charge:

(1) Make RBS and Lloyds agree that no employee shall be paid more than £150k per year.

(2) Announce that as of Jan 1st 2012 no banking group other than Lloyds or RBS shall have a tax payer backed gurantee for deposits

(3) Announce that as of Jan 1st 2012 there will be no limits on what banks can do with the money invested within them - if you do not want your money gambled with then move it to RBS or Lloyds

(4) Hear the other banks scream about socialism and illegal state support

(5) Laugh

(6) watch the economy disintergrate around you.

(7) pay £100 billion compensation to the other banks after losing in the ECJ.

:(

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(6) watch the economy disintergrate around you.

(7) pay £100 billion compensation to the other banks after losing in the ECJ.

:(

How would the economy disintergrate. They'd be allowed to do exactly what they do now but without the government gurantee. It would be a free market.

Those savers not wishing their deposits to be risked would have a safe haven in the state owned banks.

The fact the bankers seem to fear a free market is rather odd.

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Yeah, f*** off to New York and take your jobs and taxes with you! :)

erm.......... no hang on a minute:

Er.... f*** off to New York but could you let us keep the jobs and taxes.

Please

What with all their tax avoidance schemes and the eyewatering amounts the taxpayer has then had to bail them out by, could someone do a breakdown of the last 5 years of what the investment banking sector has paid in taxes in the UK versus what we have bailed them out to the tune of?

We'll ignore for a moment the cost they have indirectly imposed on the rest of the economy by, for instance, M&As that have destroyed value.

That should answer the question of whether we'd be better if the'd feck right off or not in terms that even they can understand.

Oh, let me help:

http://www.publicfin...-say-academics/

Incidentally, the figure for what they 'contribute' is, I understand, all taxes related to financial services, so it is substantially made up of, for instance, the income tax paid by your local bank teller. Thus we are being ripped off even more than this suggests

Edited by General Melchett

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What with all their tax avoidance schemes and the eyewatering amounts the taxpayer has then had to bail them out by, could someone do a breakdown of the last 5 years of what the investment banking sector has paid in taxes in the UK versus what we have bailed them out to the tune of?

We'll ignore for a moment the cost they have indirectly imposed on the rest of the economy by, for instance, M&As that have destroyed value.

That should answer the question of whether we'd be better if the'd feck right off or not in terms that even they can understand.

Oh, let me help:

http://www.publicfin...-say-academics/

Incidentally, the figure for what they 'contribute' is, I understand, all taxes related to financial services, so it is substantially made up of, for instance, the income tax paid by your local bank teller. Thus we are being ripped off even more than this suggests

To be fair, Barclays received no direct state bailout (well, not from our state anyway..)

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To be fair, Barclays received no direct state bailout (well, not from our state anyway..)

They have been screwing people who bank with them for years as the level of complaints reveals (see post on this).

If I had an account with them I woud be switching.

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To be fair, Barclays received no direct state bailout (well, not from our state anyway..)

Maybe no direct bailout, granted, but they would have surely fallen without the indirect bailouts, the QE, the implicit knowledge that they wouldnt be allowed to fail etc.

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To be fair, Barclays received no direct state bailout (well, not from our state anyway..)

Could the UK have afforded what Barclays borrowed from the Fed?

Barclays Plc’s securities unit took out the single biggest loan under the Federal Reserve’s Primary Dealer Credit Facility, a program created in March 2008 to provide loans as Bear Stearns Cos. collapsed.

Barclays Capital Inc. took a $47.9 billion overnight loan on Sept. 18, 2008, the day after its London-based parent said it would acquire the North American investment-banking business of bankrupt Lehman Brothers Holdings Inc., data from the Fed show.

http://www.businessweek.com/news/2010-12-01/barclays-took-biggest-loan-48-billion-via-fed-s-pdcf-table.html

This threat looks like blackmail in public. I thought UK government policy was not to pay ransoms?

A cynical person might say it's them saying to the government let us have lower capital ratios so we can lend more (I won't say recklessly) to generate more bonuses (I won't say of the fictitious variety, do they have many billions in "non performing assets"?).

If they move abroad a proper government would revoke their UK banking licence and give it to someone else. The Netherlands would tell them where to go.

"Let them go abroad if they don't like it here, there are plenty of clever people who will take their place and work for less. Good riddance, as far as I am concerned

http://www.guardian.co.uk/business/2011/mar/27/dutch-bankers-bonuses-axed-by-people-power

Edited by Redhat Sly

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Maybe no direct bailout, granted, but they would have surely fallen without the indirect bailouts, the QE, the implicit knowledge that they wouldnt be allowed to fail etc.

Maybe, maybe not.

Without governement intervention would there have been a flight to quality which would've benefited the sound banks at the expnense of the flaky ones.

Would Halifax/Northern Rock have been able to build up such massive money market dependence in the first place without the comfort blanket of an implicit state guarantee.

Just a thought.

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http://uk.finance.ya...307034.html?x=0

13:29, Wednesday 30 March 2011
NEW YORK (Xetra: A0DKRK - news) (Reuters) - Barclays Plc is considering moving its global headquarters from London to New York due to the threat of higher capital requirements in the UK, the Wall Street Journal reported on Wednesday.
The bank has had preliminary conversations with U.S. regulatory officials on a move and is conducting an analysis of whether switching its domicile makes sense, the newspaper reported, citing a person involved in the process.

I wonder if "Bob" will generate a transfer bonus for the inconvenience of the move? I am a bit suspicious that this may be a threat as the US regulators are not as bankster-friendly as our lot.

He's just jealous. . . .

http://www.talktalk.co.uk/business-news/news/reuters/2011/03/30/lloyds-gives-new-ceo-pay-rise-plus-extra-shares.html?tplate=/money/feeds/reuters/story-template.html

:ph34r:

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http://uk.finance.ya...545737.html?x=0

Barclays is most complained-about bank, FSA finds
Kara Gammell, 14:59, Wednesday 30 March 2011
More than 5,000 complaints are lodged against banks in Britain every day, according to latest figures from the Financial Services Authority, the City regulator.
The figures show that 999,196 grievances were raised against the high street banks in the last six months of last year. Substandard service and poor advice on pensions and insurance were among the chief complaints of angry customers.

Very very good riddance Bob. Turn the lights off before you go there's a good fellow.

The report shows that, from July to December 2010, Barclays (LSE: BARC.L - news) received the most complaints with 276,315, followed by Santander (Madrid: SAN.MC - news) with 195,475, Lloyds TSB (LSE: LLOY.L - news) with 175,892 and Bank of Scotland with 123,477.

Nearly 600,000 complaints (these must be formal complaints triggering their internal procedure) in 1 year. :o

Clearly Diamond Bob's remuneration isn't related to how he treats his customers. Or perhaps it is.

Closely followed by Santander, quelle surprise! (or the Spanish equivalent)

http://www.bbc.co.uk/news/business-12908236

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Good riddance to Bob the Bankster - not that he'll actually go as it's clearly a bargaining tactic and the government will cave in lest they be seen to lose jobs and tax revenue due to 'over regulation'.

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Could the UK have afforded what Barclays borrowed from the Fed?

Sure - it's just figures on a central bank balance sheet. Credit is created out of nowhere by central banks in whatever quantities that the commercial banksters need to cover their mistakes.

The BoE might not have been able to hide it as easily as the Fed though, I believe the information only became public when the Fed acknowledged it themselves.

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http://uk.finance.yahoo.com/news/New-York-mayor-Michael-tele-1063350002.html?x=0

New York mayor Michael Bloomberg 'hopes' Bankster Bob will exit London
Harry Wilson, 22:05, Wednesday 30 March 2011
New York (Xetra: A0DKRK - news) 's mayor has said he would like Barclays (LSE: BARC.L - news) to move its headquarters to the city a day after the release of an analyst note suggesting the bank should consider redomiciling.
Michael Bloomberg, the city's billionaire mayor, said Barclays moving its main office to New York would be "great for us".
"I hope they move here," he told reporters. "Every day, every city in this country and in this world is trying to get those businesses."

Hasving emptied the tills here he will no doubt go back to the "friends of his" in NYC and re-line his pockets with some Fed loot.

Someone ought to make a film, it wouild rival Godfather and The City never Sleeps.

Edited by Realistbear

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To be fair, Barclays received no direct state bailout (well, not from our state anyway..)

They received a gargantuan stealth bailout from the Federal Reserve:

Federal Reserve data showing UBS AG and Barclays Plc ranked among the top users of $3.3 trillion from emergency programs is stoking debate on whether U.S. regulators bear responsibility for aiding other nations’ banks.

UBS was the biggest borrower under the Commercial Paper Funding Facility, with $74.5 billion overall, more than twice as much as Citigroup Inc., the top U.S. bank recipient, according to the data released yesterday. London-based Barclays Plc took the biggest single amount under another program that made overnight loans, when it got $47.9 billion on Sept. 18, 2008.

http://www.bloomberg.com/news/2010-12-02/federal-reserve-may-be-central-bank-of-the-world-after-ubs-barclays-aid.html

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Yeah, f*** off to New York and take your jobs and taxes with you! :)

erm.......... no hang on a minute:

Er.... f*** off to New York but could you let us keep the jobs and taxes.

Please

What jobs? All 1800 Barclays retail branches will close? No more investment banking, corporate banking in the UK? When it boils down to it we're talking a few thousand jobs. Previous cuts in the city have seen 100,000+ jobs go. We survived.

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http://uk.finance.ya...350002.html?x=0

New York mayor Michael Bloomberg 'hopes' Bankster Bob will exit London
Harry Wilson, 22:05, Wednesday 30 March 2011
New York (Xetra: A0DKRK - news) 's mayor has said he would like Barclays (LSE: BARC.L - news) to move its headquarters to the city a day after the release of an analyst note suggesting the bank should consider redomiciling.
Michael Bloomberg, the city's billionaire mayor, said Barclays moving its main office to New York would be "great for us".
"I hope they move here," he told reporters. "Every day, every city in this country and in this world is trying to get those businesses."

Hasving emptied the tills here he will no doubt go back to the "friends of his" in NYC and re-line his pockets with some Fed loot.

Someone ought to make a film, it wouild rival Godfather and The City never Sleeps.

Which tells you all you need to know.

They'll move wherever they can secure the biggest taxpayer backstops and the least effective regulators. They hit the jackpot with Gordon. No wonder AIG sent Cassano to London and the US banksters flooded the UK with cheap FED dollars pumping up our housing market. All you need is an hubristic politician and 1/2 dozen banksters sucking him off and next thing you know you've got yourself a bubble.

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