If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(BBC)   Barclays PLC fined $450 million for manipulating the Libor rate. In general terms, Barclays stole money through the cunning craft of lying   (bbc.co.uk) divider line 22
    More: Obvious, Barclays plc, BBA LIBOR, Financial Services Authority, bank rates, interest rates  
•       •       •

798 clicks; posted to Business » on 27 Jun 2012 at 7:48 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



22 Comments   (+0 »)
   
View Voting Results: Smartest and Funniest

Archived thread
 
2012-06-27 05:14:28 PM
Good, I'll look forward to your report, Mr. Broccoli.
 
2012-06-27 06:44:55 PM
Barclays said the actions "fell well short of standards". Chief executive Bob Diamond is to give up his bonus.

Son of a... Just how many Diamond clones are we dealing with?! This could become a real crisis!
 
2012-06-27 08:04:03 PM
FTFA:

"And the market needs to have confidence that those who are involved in submitting numbers... are thinking about the integrity of the market, and confidence in the market, and not their own interests."

I can't even attempt to key the manner in which I laughed after reading that.


I gotchyer rule of 78s, right here, bucko.
 
2012-06-27 08:31:41 PM
Better headline would have been Barclays PLC fined $450 million for making $2.5 billion

Yeah, and we wonder why regulation ain't working.
 
2012-06-27 09:00:50 PM
Jump, you farkers.
 
2012-06-27 09:09:59 PM
It's been this way for decades.

If you con someone out of a few grand and get caught, all the money you gained is taken from you and you are sent to jail.

If you con a society out of billions, a tiny portion of the money you gained is taken from you and you are free to go with maybe a stern warning.

And some people are actually surprised when the incentive system we have set up comes to its logical conclusion.
 
2012-06-27 09:44:54 PM

TyrantII: Better headline would have been Barclays PLC fined $450 million for making $2.5 billion

Yeah, and we wonder why regulation ain't working.


Now see, if the fine was 3b, then it might have had a positive effect. However we can't threaten crippling the foundation of our economy so lets pat the bankers on the head and tell them not to do that again and that should deter them.
 
2012-06-27 10:08:49 PM

TyrantII: Better headline would have been Barclays PLC fined $450 million for making $2.5 billion


I was actually going to go with that but I was too lazy... actually too nauseated to find how much doing this saved/made them.

"Sir, you have stolen $100! You are hereby ordered to repay $20. I hope you've learned your lesson!"
 
2012-06-27 10:35:57 PM
Libor, please.
 
2012-06-27 10:37:03 PM
That shiat is so WACC.

I remember an episode of Superman or maybe Super Friends and the key to the episode is that Superman worked out this fella Tobor's name spelt backwards was ROBOT so that meant Tobor was a baddie.

LIBOR makes me think of Tobor.
 
2012-06-27 10:40:44 PM
Tens of millions of people had to pay more on loans because of these guys, but nobody is going to jail. They've built the perfect system.
 
2012-06-27 11:05:06 PM
cdn.static.ovimg.com

It just occurred to me that I could manipulate the libor rate... using the warp field generator as a power flow anti-attenuator and that of course naturally created an amplification of the inherent energy output.
 
2012-06-27 11:33:26 PM
Putting the lie in Libor. Is anything banks do above board?
 
2012-06-28 12:13:37 AM
 
2012-06-28 02:24:15 AM

NewportBarGuy: TyrantII: Better headline would have been Barclays PLC fined $450 million for stealing $2.5 billion

I was actually going to go with that but I was too lazy... actually too nauseated to find how much doing this saved/made them.

"Sir, you have stolen $100! You are hereby ordered to repay $20. I hope you've learned your lesson!"


I deliberately didn't want to find out because I had a feeling finding out would make me acutely stabby. And I was right. Also FTFGrandparent poster...

/First up against the wall
 
2012-06-28 04:21:06 AM
I'm shocked, shocked to find that gambling is going on in here.

/jump you f*ckers
 
2012-06-28 04:25:05 AM
Stop oppressing the job creators!
 
2012-06-28 05:05:53 AM
To be fair, once libor has started, there's not much you can do. That biby is coming out!

/breathe, breathe, push
 
2012-06-28 07:18:06 AM

TyrantII: Better headline would have been Barclays PLC fined $450 million for making $2.5 billion

Yeah, and we wonder why regulation ain't working.


I've read this article twice as well as two other articles on the subject and can't find the $2.5b to which you are referring.

This article specifically states "it is not yet clear whether they successfully manipulated interest rates to the banks advantage"

Am I blind or did you make that number up?
 
2012-06-28 08:23:07 AM
verydemotivational.files.wordpress.com

/this still cracks me up
 
2012-06-28 08:41:51 AM

Yakk: [verydemotivational.files.wordpress.com image 492x420]

/this still cracks me up


Why are you picking on "capitalist America"? Barclays is a British bank..
 
2012-06-28 11:07:05 AM
Debeo Summa Credo: TyrantII: Better headline would have been Barclays PLC fined $450 million for making $2.5 billion

Yeah, and we wonder why regulation ain't working.

I've read this article twice as well as two other articles on the subject and can't find the $2.5b to which you are referring.

This article specifically states "it is not yet clear whether they successfully manipulated interest rates to the banks advantage"

Am I blind or did you make that number up?


I made it up, cause no one knows yet. But it's a large bank, they don't due petty theft....

They don't break the rules unless it's a profit generating investment.
 
Displayed 22 of 22 comments

View Voting Results: Smartest and Funniest


This thread is closed to new comments.

Continue Farking
Submit a Link »






Report