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Diamond has resigned
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Ive heard that there is even more trouble at Barclays. Apparently several staff have started legal action to recover the £2.50 they put in the big envelope for Marcus Agius's leaving gift.There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0
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I always thought a Diamond was forever..........
He's stuck his fingers up at the government so often I thought he knew something we didn't.0 -
George Osborne was on TV this morning, saying it is right that Diamond should resign, so the bank can focus on "lending into the economy".
Unsurprising....
https://forums.moneysavingexpert.com/discussion/4050181“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
One of the commentator pundits on radio (I forget which one - there are 100s) was saying that Barclays should be broken up. He suggested that the share price reflected the value of the credit card + retail banking division ; implying that the investment divisions had no value.
I suddenly felt like we had switched alternate universes, Dr Who style. Haven't we constantly been told its the investment arms which prop up the rest of these banking monoliths?!0 -
Next government spending cut. The PM and half the Cabinet are to be replaced by wind-up gramophones.HAMISH_MCTAVISH wrote: »George Osborne was on TV this morning, saying it is right that Diamond should resign, so the bank can focus on "lending into the economy"."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
HAMISH_MCTAVISH wrote: »George Osborne was on TV this morning, saying it is right that Diamond should resign, so the bank can focus on "lending into the economy".
Unsurprising....
https://forums.moneysavingexpert.com/discussion/4050181
where else would they lend it? the ecosystem?FACT.0 -
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Clever man.
The problem is the big red button. It's looking at him, it wants to be pressed, what happens when you press it?
Can he resist. That all depends how much he was paid.0 -
Oh, he'll turn up alright.
With the FBI on the case, can he as a US citizen (I assume) refuse to answer to avoid self-incrimination? I hope he says enough to take down Clown.0 -
One of the commentator pundits on radio (I forget which one - there are 100s) was saying that Barclays should be broken up. He suggested that the share price reflected the value of the credit card + retail banking division ; implying that the investment divisions had no value.
I suddenly felt like we had switched alternate universes, Dr Who style. Haven't we constantly been told its the investment arms which prop up the rest of these banking monoliths?!
since 2009, profits for Barcap alongside the total profits for all of Barclays' activities including Barcap are as follows: (source = barclays' 2011 financial statements on their website)
Barcap
2011 - £3 billion
2010 - £4.4 billion
2009 - £4.2 billion
Total Barclays
2011 - £5.9 billion
2010 - £6.0 billion
2009 - £4.5 billion
These are profits before tax (and after impairments/provisions).
So, probably not really accurate to say that Barcap is worthless... although the above does not tell the whole story; return on equity over the same period is about 10-13% for Barcap, but 8-15% for retail banking, 12-17% for barclaycard.0
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