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UK banks may need more capital, Bank of England says

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Comments

  • grizzly1911
    grizzly1911 Posts: 9,965 Forumite
    edited 30 November 2012 at 8:04PM
    Thought I had seen this yeaterday.

    Anglo Irish Bank in legal action against Ernst & Young

    It is the first time that an Irish bank has pursued legal action against a former auditor


    Anglo Irish Bank is taking legal action against its former auditor Ernst & Young for failing to spot the lender's massive exposure to the Irish property bubble

    http://www.bbc.co.uk/news/business-20543125

    Interesting they see at as the auditors fault. One would have thought their own credit teams should have had a reasonably good idea?
    "If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....

    "big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Kinda fuzzy, grey areas really.

    I agree. But to say collusion is laughable. As would destroy the UK's credit rating as a whole in milliseconds.

    Merv (and the BOE) is fairly astute in looking ahead at what may happen on this score.

    Unlike inflation easier to predict.
  • grizzly1911
    grizzly1911 Posts: 9,965 Forumite
    edited 30 November 2012 at 9:03PM
    Thrugelmir wrote: »
    I agree. But to say collusion is laughable. As would destroy the UK's credit rating as a whole in milliseconds.

    Merv (and the BOE) is fairly astute in looking ahead at what may happen on this score.

    Unlike inflation easier to predict.

    You are right it wouldn't be collusion.;)
    "If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....

    "big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham
  • PaulF81
    PaulF81 Posts: 1,727 Forumite
    Thrugelmir wrote: »
    I agree. But to say collusion is laughable. As would destroy the UK's credit rating as a whole in milliseconds.

    Merv (and the BOE) is fairly astute in looking ahead at what may happen on this score.

    Unlike inflation easier to predict.

    Would it destroy the uk's credit rating if secretly every single western central bank was doing the same thing?
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    PaulF81 wrote: »
    Would it destroy the uk's credit rating if secretly every single western central bank was doing the same thing?

    Maybe people have yet to grasp the magnitude of what's occurred and the correction that's happening.
  • Thrugelmir wrote: »
    Maybe people have yet to grasp the magnitude of what's occurred and the correction that's happening.

    Will it ever really be known?

    There is no doubt still passing of the parcel, getting smaller and more disbursed all the time.
    "If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....

    "big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    Thrugelmir wrote: »
    I agree. But to say collusion is laughable. As would destroy the UK's credit rating as a whole in milliseconds.

    Merv (and the BOE) is fairly astute in looking ahead at what may happen on this score.

    Unlike inflation easier to predict.


    tell me

    do you believe there is a substantive difference between the meaning of

    'lying' and 'being economical with the truth'?
    between
    'pig' and 'pork'
    between
    'terms' and 'conditions'

    if so then 'colluding' isn't for you.
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