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Bank Of Ireland "duped" Fsa Over Post Office Savings

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FSA "You're not a sham are you"

Bank of Ireland "No, no, we're not a sham at all, at all"

FSA "That's ok then, have a licence"

I wonder what they asked Santander.............................

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More pathetic behaviour by government and large organisations. A bunch of financial incompetents the lot of em.

I remember picking up one of the Post Office leaflets and thinking to myself 'Here we go again'.

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More pathetic behaviour by government and large organisations. A bunch of financial incompetents the lot of em.

I remember picking up one of the Post Office leaflets and thinking to myself 'Here we go again'.

Ditto. I couldn't believe they were going with the Bank of Ireland at the time. I suspect very strongly they knew the dire straits they were in at the time. There just isn't enough lamp posts to deal with all the criminals involved in this mess.

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The FSA are too busy planning their next party to care...

£1.25m cost of FSA Xmas parties

Yet another organisation asleep at the wheel and unfit for purpose.

The FSA has a budget set of £60 per head for a Christmas party. Big deal. Another hysterical Mail headline.

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The FSA has a budget set of £60 per head for a Christmas party. Big deal. Another hysterical Mail headline.

Fine, if the employees don;t want to sheel up £60 a head each to go to them they don't need to go.

If anything the numbers show how many many thousands of useless individuals are employed in this so called regulator.

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FSA "You're not a sham are you"

Bank of Ireland "No, no, we're not a sham at all, at all"

FSA "That's ok then, have a licence"

I wonder what they asked Santander.............................

Bank of Ireland "Your really quite thorough aren't you."

FSA "Yes we are, we wouldn't let anyone get involved in the UK. You have to take us out for several meals first, then you get a licence because sham organisations wouldn't just wine and dine us."

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Fine, if the employees don;t want to sheel up £60 a head each to go to them they don't need to go.

If anything the numbers show how many many thousands of useless individuals are employed in this so called regulator.

The organisations that they regulate (and who pay for the FSA)tend to spend far more than £60 a year on staff entertainment.

In terms of "how many thousands" of people who work there, it spent £107,814 on Christmas parties last year and there are in fact about 3000 employees at the FSA, giving a cost p/h of £36. Oh scandal.

£107,814 is about the typical bonus of a 30 year old VP at a tier 1 investment bank in addition to his £125,000 salary.

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Bank of Ireland "Your really quite thorough aren't you."

FSA "Yes we are, we wouldn't let anyone get involved in the UK. You have to take us out for several meals first, then you get a licence because sham organisations wouldn't just wine and dine us."

Well the FSA compensated me £60,000 over the mis-selling of shares, so I won't hear a word said against them (much).

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Well the FSA compensated me £60,000 over the mis-selling of shares, so I won't hear a word said against them (much).

wrong, the FSA got you an award.

The FSA is funded by bankers and financial organisations.

Your award means higher fees for everyone else.

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More pathetic behaviour by government and large organisations. A bunch of financial incompetents the lot of em.

I remember picking up one of the Post Office leaflets and thinking to myself 'Here we go again'.

Not so much that, but I suspect an "old boys network" which includes the regulator.

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Not so much that, but I suspect an "old boys network" which includes the regulator.

No. I don't think so.

There certainly used to be an 'old boys network' before the FSA was created. But at the same time, it meant that bankers and financiers were in charge of regulation - and that if something dodgy was going on, someone from the BoE would have a quick word with the relevant CEO, and say something, 'Look old boy. I understand you've just bought £1billion of CDOs. Perhaps you didn't realise that they're total dogshit, but I'd be a bit more careful if I were you. If you keep buying up crap like this, I'll be forced to give a formal warning - and your shareholders won't like that'.

One of the goals of the FSA was to undermine this 'old boys network'. The idea was that instead of experienced bankers supervising the banking industry, you'd have public sector pen pushers and administrators - they'd be independent. The catch was that they were clueless.

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Bank of Ireland "Your really quite thorough aren't you."

FSA "Yes we are, we wouldn't let anyone get involved in the UK. You have to take us out for several meals first, then you get a licence because sham organisations wouldn't just wine and dine us."

Do you really think that FSA staff would be allowed to entertained by financial firms? They are not and there is no wining and dining involved.

Silly comment to make.

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  • 277 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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