MSE News: Barclays hit with gigantic £290m in fines after series of lies

pauldb1

I am not surprised at all. Why is the global economy in the mess it is in now. We struggle to encourage growth globally when these people are either stealing or gambling vast amounts of money. The thing I am really interested in is if I can now reclaim any interest paid internationally on anything ever purchased. Also any loan or martgage interest I may have paid in recent years to Barcalys or any bank found guilty in the coming days / weeks. Surely all contracts are based upon fraudulent LIBOR rates and as such are now null & void. Yes, any money borrowed requires repayment, but not the fraudently calculated interest on the amount borrowed.
I propose that all consumers pursue litigation and demand repayment, or nullification of all interest since these calculations are globally fraudulent.
Comments and advice welcome....

Broadwood

Bell98 wrote: »

The one thing I know is Barclays will get off with a company fine paid with our money, and the guilty will not suffer at all. Why do we tolerate this vile behaviour from these over paid money grapping thieves - they ARE thieves. All we, the consumer, can do is not give them our money. I've cut up my credit card (that's all I have with them, I wish I could move my accounts.) We should all leave them. The Bible warned us about the moneylenders.

Totally agree here. I've been with Barclays since leaving school in 1975. I cut my Barclaycard up years ago when they started charging a yearly fee so that isn't an option now. I have my current and two e-savings accounts with them but now isn't a good time to change with all the "problems" Barclays rivals are still experiencing due to technical issues. Maybe in a few months when the dust has settled, but what if they have all been found guilty of similar crimes by then?...

We really need to teach bad banks a lesson by removing our business and cash from their grasp. It's no less than they deserve !

Can anybody recommend a "clean" bank? Will there be any left?

rb10

Broadwood wrote: »

I have my current and two e-savings accounts with them but now isn't a good time to change with all the "problems" Barclays rivals are still experiencing due to technical issues.

It's only Natwest and the RBS group that's systems have been down - all the other banks are completely unaffected.

Broadwood wrote: »

Can anybody recommend a "clean" bank? Will there be any left?

I think you'll struggle to find a bank that could be described as 'clean'.

The building societies are generally better.

JimmyTheWig

JuicyJesus wrote: »

A prerequisite of going to jail is breaking the law.

Was what they did not fraudulent? Which, presumably, would be against the law.

SailorSam

JimmyTheWig wrote: »

Was what they did not fraudulent? Which, presumably, would be against the law.

It's not fraud when the rich do it, only the poor.

dalek

This article from 2011 says it all really...........


Barclays' boss says banks should no longer be sorry for crisis (24 hours after his '£9m' bonus is revealed)



Defiant: Barclays CEO Bob Diamond leaves a Treasury Select Committee meeting today, where he was grilled about bankers' bonuses

Read more: http://www.dailymail.co.uk/news/article-1346081/Barclays-boss-Bob-Diamond-says-banks-longer-sorry-crisis.html#ixzz1z4m5vfNC

Tiddly_2

Barclays have confirmed that there actions are wrong. I support a Criminal Investigation into these actions.

This morning I have actioned the closure of all accounts I have with Barclays and its subsidiaries (Woolwich). I will no longer be associated with Barclays. Standard Life are also linked to Barclays.

I suggest others do the same. Words without actions are just words.

6am

pauldb1 wrote: »

The thing I am really interested in is if I can now reclaim any interest paid internationally on anything ever purchased. Also any loan or martgage interest I may have paid in recent years to Barcalys or any bank found guilty in the coming days / weeks. Surely all contracts are based upon fraudulent LIBOR rates and as such are now null & void.

Why do you want a refund? I understand they tried to reduce LIBOR not increase it.

SailorSam

Tiddly wrote: »

Barclays have confirmed that there actions are wrong. I support a Criminal Investigation into these actions.

This morning I have actioned the closure of all accounts I have with Barclays and its subsidiaries (Woolwich). I will no longer be associated with Barclays. Standard Life are also linked to Barclays.

I suggest others do the same. Words without actions are just words.

That's a good idea. i'll take my overdraft off them.

youngzola

as i have invested in barclays wealth is it me and other investers who are going to foot the bill.in mary poppins the banker was just about stripped naked and thrown out, his crime was tuppence,what will 290 zillion get .in this country probley a knighthood.