We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
So now we all have to pay the banks Libor fine.
Comments
-
grizzly1911 wrote: »I have done and know it is.
Barclays boss tells staff 'sign up to ethics or leave'
He said that performance would be assessed "not just on what we deliver, but on how we deliver it".
http://www.bbc.co.uk/news/business-21064590
The wheel turns we have been here before.
In so many performance contracts. When push comes to shove, profit/cost down or doing the right thing? I wonder what will get rewarded most?
Culture starts at the top. You don't have to be aggressive (American style) to succeed. Barclays (along with banks in general) has an image problem. There's more bad news to come yet in financial terms. So I feel that we're seeing the emergence of new generation of banks. All the senior management at the major Uk banks (with the exception of HSBC) has been replaced. A new broom sweeps clean as the saying goes.
As for performance contracts, Nature of banking is returning to its core roots. Profit will be made on lending money. Rather than selling PPI cover. If you look at the potential PPI provisions. It wipes out the profit of the banks for the entire duration of the boom years. Mortgage lending became a service not a profit centre. With the demand for mortgage lending there's no need to set selling targets. The product sells it self. What matters is the quality of the risk being underwritten.0 -
strange
a chap that has spent his entire business life in Barclays suddenly discovers that his career was not quite right
it doesn't seem quite right
maybe an astute politician?0 -
strange
a chap that has spent his entire business life in Barclays suddenly discovers that his career was not quite right
it doesn't seem quite right
maybe an astute politician?
In a Corporate structure following orders is the norm. Irrespective of personal view .
Thats if you want to keep your job.
The fact is he's stain free and respected. Also that he's a popular choice internally as well.0 -
Thrugelmir wrote: »In a Corporate structure following orders is the norm. Irrespective of personal view .
Thats if you want to keep your job.
The fact is he's stain free and respected. Also that he's a popular choice internally as well.
is that so?
he has just implied that most of his staff have been so dishonest for the last 20 years that they now need to sign a document to say they won't do it again
one wonders if he is repentant too?
when did he stop beating his wife?0 -
is that so?
he has just implied that most of his staff have been so dishonest for the last 20 years that they now need to sign a document to say they won't do it again
one wonders if he is repentant too?
when did he stop beating his wife?
I guess your glass is always half empty. Rather than half full.
As I don't know the man personally. I will give him the benefit of the doubt and await future developements.0 -
Thrugelmir wrote: »Culture starts at the top. You don't have to be aggressive (American style) to succeed. Barclays (along with banks in general) has an image problem. There's more bad news to come yet in financial terms. So I feel that we're seeing the emergence of new generation of banks. All the senior management at the major Uk banks (with the exception of HSBC) has been replaced. A new broom sweeps clean as the saying goes.
As for performance contracts, Nature of banking is returning to its core roots. With the demand for mortgage lending there's no need to set selling targets. The product sells it self. What matters is the quality of the risk being underwritten.
They have had an image problem for years, probably the fin on their backs. They can come up with as many statements of intent as they want it depends if they act on them.
I very much doubt it will they will return to their real core roots. It will simply adapt to a new business model that gives a veneer of respectability. The product on it's own isn't enough. In the short term they may play a clean game, but it is the nature of competition that they will seek to extract extra layers of profitability as the margins are squashed.
I totally agree that the quality of risk is what matters but that became a poor bed fellow long before the current problems. Sales not risk became king at the end of the eighties. I am not saying risk profile will be disregarded merely that it will be marginalised."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 Muruganantham0 -
Thrugelmir wrote: »I guess your glass is always half empty. Rather than half full.
As I don't know the man personally. I will give him the benefit of the doubt and await future developements.
he was in a senior position for a long long time; he could have left and gone elsewhere
to ask bank clerks to sign they won't, in future, be corrupt is a bloody insult
a bit as if Cameron asked his staff to sign they won't be too 'close' to journalists in the future0 -
Once again your post ignores any actual facts but it is enough that is was Labour what done it.
That's OK, but it makes any debate on the issues completely pointless.
Perhaps you would like to enlighten us with the facts. So far I have seen little of substance beyond assertions that I don't know what I'm talking about, and that Labour should not be blamed, despite its overall track record, because the Conservatives would allegedly have done exactly the same thing.No-one would remember the Good Samaritan if he'd only had good intentions. He had money as well.
The problem with socialism is that eventually you run out of other people's money.
Margaret Thatcher0 -
GeorgeHowell wrote: »Perhaps you would like to enlighten us with the facts. So far I have seen little of substance beyond assertions that I don't know what I'm talking about, and that Labour should not be blamed, despite its overall track record, because the Conservatives would allegedly have done exactly the same thing.
you have specifically said that too much money was paid into the banks to recapitalise them.
your reasoning was that Labour are useless.
So what was the correct amount of money that should have been paid in?
I've also said that if the current lot with all their business acumen agree with you, as majority shareholders that can recover the money.
My view is that I don't know what was appropriate but that the decision was not a political decision but one made by the BoE , FSA with political input too.
Also one might note the the current lot have poured additional cheap loans into the same banks.
I'm not defending Labour (and I don't support most of their policies) but I don't take the view that everything they do is a priori stupid and that everything then conservatives do is a priori good.
Each decision should be judged on its merits whoever makes it.0 -
you have specifically said that too much money was paid into the banks to recapitalise them.
your reasoning was that Labour are useless.
So what was the correct amount of money that should have been paid in?
I've also said that if the current lot with all their business acumen agree with you, as majority shareholders that can recover the money.
My view is that I don't know what was appropriate but that the decision was not a political decision but one made by the BoE , FSA with political input too.
Also one might note the the current lot have poured additional cheap loans into the same banks.
I'm not defending Labour (and I don't support most of their policies) but I don't take the view that everything they do is a priori stupid and that everything then conservatives do is a priori good.
Each decision should be judged on it's merits whoever makes it.
I don't see many facts in that -- only opinions, questions, and admissions of not knowing.
You don't have any more or less authority to express a view than I do.No-one would remember the Good Samaritan if he'd only had good intentions. He had money as well.
The problem with socialism is that eventually you run out of other people's money.
Margaret Thatcher0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.9K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards