Fsa Fails To Publish Report Into Royal Bank Of Scotland Collapse

[crash2006]

Senior sources close to the FSA said that the report on RBS, originally promised by Lord Turner, the FSA chairman, in March, was now delayed indefinitely.

We are never going to see it, lol the FSA need to really go like the other regulators, who are they really working for, they are hiding information from the public, seem to me that there are greater problems about the future of UK banking if this report is done to teh standards set out.

How can you run a regulator with directors from investment banks that have a hidden agenda to keep the debt flow and the level of teh crisis covered up.

http://www.telegraph...d-collapse.html

Edited April 30, 2011 by crash2006

[Tiger Woods?]

We are never going to see it, lol the FSA need to really go like the other regulators, who are they really working for, they are hiding information from the public, seem to me that there are greater problems about the future of UK banking if this report is done to teh standards set out.

How can you run a regulator with directors from investment banks that have a hidden agenda to keep the debt flow and the level of teh crisis covered up.

http://www.telegraph...d-collapse.html

Its not being released partly because RBS must approve it for fear of litigation in the US.

There really is nothing much to be said anymore. The entire world has been captured by large corporations, the banks and the legal profession. They drive legislation, the legislators and the regulators. We now live in a pure kleptocracy. Your only chance is to be admitted to one of the gangs.

This is all just beyond the pale. Without revolution or economic collapse, there is no hope.

[crash2006]

Its not being released partly because RBS must approve it for fear of litigation in the US.

There really is nothing much to be said anymore. The entire world has been captured by large corporations, the banks and the legal profession. They drive legislation, the legislators and the regulators. We now live in a pure kleptocracy. Your only chance is to be admitted to one of the gangs.

This is all just beyond the pale. Without revolution or economic collapse, there is no hope.

So whats the point of Having the FSA then, if they can't even do what they were established to do, this shows me its a failure.

[Democorruptcy]

How can a bank "regulator" ever decide that in the past a bank has done anything wrong?

It would be like shooting themselves in the foot or their own Gerald Ratner moment.

[cashinmattress]

You'll never hear the truth, at least not from the horses mouth.

There are far too many 'Sirs', 'Dames', 'Lords', MP's, oligarchs, and corrupt regimes to embarrass with the outright truth.

[leicestersq]

Presumably the problem is that the report will allow Americans to sue the bank or the uk government in some way, causing huge losses to the UK taxpayer again?

We really need a law that makes it impossible for anyone to gain access to taxpayer funds as a result of legal action raised due to negligence or wrong doing by government officials. Legal action should be taken against the individual wrong doers, not the taxpayer.

[ShedDweller]

Presumably the problem is that the report will allow Americans to sue the bank or the uk government in some way, causing huge losses to the UK taxpayer again?

We really need a law that makes it impossible for anyone to gain access to taxpayer funds as a result of legal action raised due to negligence or wrong doing by government officials. Legal action should be taken against the individual wrong doers, not the taxpayer.

What about cases like Aberfan ? Unquestionably British Coals responsibility but without any possibility of nailing it on one person .. are you saying they should have got nothing ? (As it happens they got a pathetic amount)

EDIT to say ..

Of course in cases like network rail it was a crime that the shareholders got paid out .

Edited May 1, 2011 by ShedDweller

[wonderpup]

So we now have a failure to even regulate the past misdeeds of the banksters- so what chance of stopping any future one's?

[crash2006]

Presumably the problem is that the report will allow Americans to sue the bank or the uk government in some way, causing huge losses to the UK taxpayer again?

We really need a law that makes it impossible for anyone to gain access to taxpayer funds as a result of legal action raised due to negligence or wrong doing by government officials. Legal action should be taken against the individual wrong doers, not the taxpayer.

thats to fair of a system, the rich are there to wipe up the floor with the profits, if anything goes wrong the poor pay because its their fault.

[Injin]

So we now have a failure to even regulate the past misdeeds of the banksters- so what chance of stopping any future one's?

None.

Regulation doesn't work, never has.

[leicestersq]

What about cases like Aberfan ? Unquestionably British Coals responsibility but without any possibility of nailing it on one person .. are you saying they should have got nothing ? (As it happens they got a pathetic amount)

EDIT to say ..

Of course in cases like network rail it was a crime that the shareholders got paid out .

ShedDweller,

Basically yes, I am saying that. There are certainly tough cases, but if he taxpayer carries the can, there is no incentive for public officials to act properly or even honestly.

If the officials responsible Aberfan were bankrupted over the event, similar wrongdoing is less likely occur. Failure to hold the individuals accountable, is the major part of the problem.

[okaycuckoo]

Presumably the problem is that the report will allow Americans to sue the bank or the uk government in some way, causing huge losses to the UK taxpayer again?

Parliamentary committee can demand it and place it on the record - parliamentary privilege would defeat any litigation.

[IDN]

.............

This is all just beyond the pale. Without revolution or economic collapse, there is no hope.

thats right - we need a revolution- otherwise those in charge will just getaway with it , time and time again - we saw some fight from the youths demonstrating against tuition fees - now we need an bigger protest with greater anger - i dont know when that will be with the 'feel-good factor' we are experiencing

[Georgia O'Keeffe]

thats right - we need a revolution- otherwise those in charge will just getaway with it , time and time again - we saw some fight from the youths demonstrating against tuition fees - now we need an bigger protest with greater anger - i dont know when that will be with the 'feel-good factor' we are experiencing

feel good factor , Que?

id hate to see what confidence levels are like when the British are feeling bad if this is them feeling good

Edited May 1, 2011 by georgia o'keeffe

[erranta]

Its not being released partly because RBS must approve it for fear of litigation in the US.

There really is nothing much to be said anymore. The entire world has been captured by large corporations, the banks and the legal profession. They drive legislation, the legislators and the regulators. We now live in a pure kleptocracy. Your only chance is to be admitted to one of the gangs.

This is all just beyond the pale. Without revolution or economic collapse, there is no hope.

here's a term i've just coined for The City and Financials (ac_counting)

hereafter to be known as

City of 'Faux Finance' - it's all an illusion about to fail

(Let's see how fast that gets on a blog or mentioned in a mainstream paper)

[geezer466]

One link (from that site) leads to another and it seems some pretty high (former) HBOS directors are under investigation for nodding through a £1Billion fraud.........

How come we have never heard any of this on the BBC?

former directors of the state-rescued and majority-owned bank allegedly knew about, and failed to act on, £1 billion corporate fraud allegations.

How deep does the rabbit hole go for gods sake?

Edited May 1, 2011 by geezer466

[South Lorne]

So whats the point of Having the FSA then, if they can't even do what they were established to do, this shows me its a failure.

...it was a failure before it began....Gordo designed it.....

[hirop]

One link (from that site) leads to another and it seems some pretty high (former) HBOS directors are under investigation for nodding through a £1Billion fraud.........

How come we have never heard any of this on the BBC?

former directors of the state-rescued and majority-owned bank allegedly knew about, and failed to act on, £1 billion corporate fraud allegations.

How deep does the rabbit hole go for gods sake?

Here is big vince bumping his gums about it in 2009 when in opposition. time to step up Vince.....and a link with a bit more about the

arrest

by the time i read this one its clear we really need a lynch mob to sort all this out

[leicestersq]

Parliamentary committee can demand it and place it on the record - parliamentary privilege would defeat any litigation.

Well I know parliamentary privilege can put the report on the record. But then it could be used as evidence against RBS, which basically means the taxpayer would have to pay if they were sued? And the government might even stop the taxpayer losing money via legislation, but American courts might be able to seize RBS assets in the US.

[okaycuckoo]

Well I know parliamentary privilege can put the report on the record. But then it could be used as evidence against RBS, which basically means the taxpayer would have to pay if they were sued? And the government might even stop the taxpayer losing money via legislation, but American courts might be able to seize RBS assets in the US.

Oh I see - thought you were talking about the FSA being sued for libel.

They can have the assets. Fark it!

p.s. Tamara has switched female artists?