Thursday 26 July 2012

What REALLY goes on in banks!

Today Lloyds TSB report a £400m loss for the first 6 months of 2012, however in reality that was made up of a real profit of £1.1 billion less  £700m in PPI repayments. It was reported as a disaster on TV this morning, but Lloyds TSB are only a thief being brought to book and having to repay what they took from the poor innocent man in the street (including me!). Their total contingency set aside is £4,2 billion, though even they admit this may be too small a figure. To give Lloyds TSB their due they are repaying virtually all PPI claims, whereas some banks and other finacial institutions are fighting tooth and nail to hold onto their ill-gotten gains.

What else?

HSBC has just been fined a considerable amount for money laundering in the States. This is Your Local Bank that understands local needs and obviously understood only too well that the Mafia needs its money laundered now and again (presumably to get rid of the blood stains) and decided to provide their local expertise to this valued client. Up to know it has managed to maintain the moral high ground by avoiding the "toxic debts" debacle and minimising its PPI repayments. Suddenly it's become just another of the bad boy banks out to make a quick buck at any cost.

Barclays was the first of the banks in UK to be done for LIBOR rate rigging, a nice little scam that made millions, if not billions for the banks and millions for those involved,. Unfortunately some small businesses went to the wall as a result and many people lost their jobs. Both the CEO and Chairman of Barclays lost their jobs and today it was announced that the man in charge of the LIBOR scam has left Barclays with a pay-off of nearly £9 million. Barclays made a statement that they couldn't see how they could avoid paying the severence package as he had been awarded it. Awarded it??? For fixing interest rates? Grief!
Also today, the head of the Barclays directors' remuneration board resigned "for personal reasons"! Barclays was fined £290 for the LIBOR rate fixing scam, but other banks are also being investigated and will reportedly be fined twice that.

It was announced this week that trillions of  US$ has been salted away by the super rich beyond the tax man. A quick assessment says that works out at £36,000 for every man, woman and child in the UK, if the US billion and trillion figures are used, If the UK equivalents are used it comes to a whopping £3,600,000 per person. I'm happy to have mine now, but instead I'll continue to get threatening letters from the Inland revenue for amounts that are piddling in comparison, but are major to me. The trouble is I and people like me am an easy target.

So how do the banks all seem to be involved in the same scams? Well, I've discovered the answer and it lies right beneath our feet in London.

It's not only the tube that threads itself around London. If you happen to be in a station deep underground after all the trains have stopped running and all passengers and staff are having a well-earned sleep, listen carefully and along with the squeaking of the rats, you'll hear a distant mumbling of voices. If you follow it down the tracks the sound of voices will become more distinct until if you stop just after Bank station you'll be able to make out individual words.
Deep down there's a network of tunnels that link all our major banks and top financial institutions where once a month a little think tank made up of  the most devious banking minds think up more scams to rip off the tax man, governments and above all the poor sod in the street. You think I'm joking? Think about it.

Blog on, Dudes!

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