Barclays Fined Billions

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Andrew the Muse

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Barclays Fined Billions

by Andrew the Muse » Thu Mar 10, 2016 10:01 pm

I couldn't believe it when I saw these figures.
These are the people that we trust with our money.
No wonder the world is in a financial turmoil.

Image


2011 January Fined £7.7 million and ordered to pay £60 million to thousands of customers lured
into 'gambling' their life savings
2012 June Fined £290 million for rigging Libor rates
2013 July Fined £300 million in the US for rigging electricity prices
2014 May Fined £26 million for manipulating gold prices
2015 May Paid £1.6 billion settlement for rigging foreign exchange markets
2015 November Fined £100 million (US) for short-changing clients buying foreign currency
2016 March PPI mis-selling bill reaches £7.4 billion


Can you imagine how much money they must be making if they can pay all these fines.

But what's really beyond all belief is that they have continued to break the rules. It's as if they believe that they have got a God given right to do whatever it takes to make a profit and at our expense to boot.

The whole system is corrupt through and through.

What are your thoughts on this scandalous situation?
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clivemarian

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Re: Barclays Fined Billions

by clivemarian » Tue Mar 15, 2016 10:59 pm

Let's add to this the fact that most big banks still post profits each year in the many billions. Where does this money come from!? From us....from our deposits, ISA's and Savings. So if they can turn the money we give them into billions why can they only afford to pay us 1%-2% per annum interest when our funds have made them billions......the answer is they can pay is much, much more but they don't! They keep it for themselves.....as bonuses, massive salaries and profits!

However, if you are rich and can put more money on account with them they will pay you a lot more, A LOT more!

The General Public are treated like mugs by the banks, sheep to be herded and a soft touch....and governments and regulators let them. How many of you are aware that the FCA recently dropped a major investigation into Bank conduct when it is obvious there is so much more to discover?

One of the primary targets of the FCA is to "treat customers fairly" and yet they refer to banks as "low risk" because they are "regulated" and yet other financial opportunities they call "high risk" even though the only difference might be the opportunity is not directly related to the FCA - for example....PROPERTY. Regarded for many years as "safe" by so many people but as "high risk" by the FCA if you are considering investing your pension funds into it! Explain that!

During the recession property values fell about 15%; during the same period bank share prices fell over 70%!

So when thinking about the banks.....and the FCA........and the govenment........and financial journalists.........ask yourself if they are "treating you fairly" or just supporting the status quo. Fortunately some people have started fighting back against the failure of the banks - expect to see more Crowd Funding sites and Corporate Bonds being issued in the years to come - banks are no longer "fit for purpose" but we have to vote with our feet (and our accounts) if we are to have any chance of making them change.
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firedancer14

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Re: Barclays Fined Billions

by firedancer14 » Wed Mar 16, 2016 7:14 pm

Barclays have had a lousy reputation for decades. South Africa and Apartheid, dodgy dealings with Qatar, HMRC reckon they are swindling, the general public complains about them more than any other bank ............... who on earth would want to bank with them?
And the sad fact is that they started life as a Quaker organization, one Quaker and one goldsmith. Quakers have been known for the last 3 1/2 centuries as ethical business people.
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Peter

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Re: Barclays Fined Billions

by Peter » Wed Mar 16, 2016 7:59 pm

Clive you are so right in all that you say.
The system is so unfair and weighted towards those that have

And I've just read that
Barclays CEO Jes Staley and his management team
are to receive share bonuses totalling £9m.

What a joke!

They're actually being rewarded for their 'crimes'.

I wish that I got a bonus every time I was fined.
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BarbaraW

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Re: Barclays Fined Billions

by BarbaraW » Tue Mar 22, 2016 9:47 pm

Hello, I’m new here. My ideas may seem a bit radical, but I do want to weigh in on this thread about Barclays. The fact is that Barclays is not alone. All big banks in the UK, US, EU, China, and most of the developed world are operating in this the same way, more or less. And, yes, they are stealing from their customers. No doubt about it. But let’s look at an even bigger picture. The population of the world is over 7 billion. And of that 7 billion, 2 billion live on less than 2USD a day, and 1 billion of those people live on less than 1USD a day, while less than 1% of the world owns on the majority of the wealth, 1.10 trillion dollars. That’s 65 times the entire wealth of the lower half of the world population. (*Forbes, 23, Jan. 2014)
This alone should give us all pause. The world is obviously far out of balance. And when there is this kind of imbalance in any system the system collapses. And that is what I have been observing for the past 21 years, as we went through the dot.com bubble and burst, the Enron debacle in the U.S. The ridiculous and tragic War on Terrorism that has cost the U.S. alone between 4 to 6 trillion dollars. And, of course, the mortgage crisis of 2008. And I’m sure, you can name many other examples of how this out of balance financial structure is falling to pieces. The destruction of the World Trade Center Towers in 2001 was a symbol of the imminent collapse of our old dinosaur economic system. And as hard as they tried to rebuild them, it never was possible, because what they symbolized is never coming back.
So the more frightened “they” - the purveyors of this antiquated fear- and greed-based system – are of losing their hold on the wealth of the world, the greedier they become. But this will prove to be their final downfall. Because what I have also been observing over these years as the old order is falling apart, is that a brand new economic model is being birthed. It’s not loud. It doesn’t scream at us from the corporate owned and run media. It goes about quietly building a foundation of a new sharing and caring economy, which is the outgrowth of a new emerging world consciousness of partnership and community.
You can see it all around you, if you look for it. Take for instance the green movement, people caring for our planet, and putting more and more measures into place to protect her and creating new technologies to take us away from carbon-based energy to sustainable energy sources, that once we put them in place, (example: Solar energy) will be basically free and unlimited. We see it when we look at the huge success of micro-finance loans that are given for the most part to women in the developing world, and how brilliantly they change the lives and economy of their villages with tiny loans that have over a 99% repayment history. We see it in neighborhood communities popping up all over the U.S. and I’m sure in the UK as well, where people who once fought with each other over silly encroachments are beginning to come together to trade services and help each other. We see it in companies adopting the Triple Bottom Line (People, Planet & Profit). We see it powerfully in social media, where people from all over the world and all walks of life are getting to know one another, and caring about each other.
So, as more and more of us care about each other and take some time each day to do something positive and uplifting in our own personal lives for those around us, we are adding to the shift from this old fear-based economy and world culture to the new love-based economy and culture. We are doing it one person, one day, one sharing, caring action at a time.
Margaret Mead said, “Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it's the only thing that ever has.”
We are living in the most exciting of times We are shifting out of an old paradigm belief system that there is a limited amount of wealth/money in the world that everyone must fight and even die to get their piece of and into a more loving, nurturing, and more feminine paradigm, in which sharing and caring are paramount. The old belief system is a collective belief that we as a species developed five or six thousand years ago. And since we created it, we can create a new belief that there is more than enough for us all. Money is just energy, and energy is limitless, and only this old collective belief makes money seem scarce.
This is not an insurmountable task. It is quite doable. The human race is in line for a huge shift. And as more of us become aware of this great imbalance and make a conscious decision to change it, we will do just that. It takes each of us doing our part though to get it done quickly. So, as more and more people put their attention on the problem, and then take action to create a better way, we become the co-creators of a brand new culture and economy based on love, caring and sharing.

Buckminster Fuller said, "You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete."

If this interests you, you cane learn more about my thoughts on this in my book, Money is Love: Reconnecting to the Sacred Origins of Money. The UK edition is available in print. And the US edition is in print and also on Kindle. And the Audio book download is available at www.barbarawilder.com
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Peter

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Re: Barclays Fined Billions

by Peter » Fri Mar 25, 2016 7:30 pm

I hope that you're right Barbara
because we are certainly in need of a big shift in values.

However I have a strong feeling that
there is something far bigger attempting to control what goes on in the world.

I'm not a Conspiracy Theory or New Order advocate
but there are far too many 'strange' incidents around the world
which don't make a lot of sense.

I do believe that money or more accurately profit is behind it all
Whether there is an organisation co-coordinating all that
is the BIG QUESTION for me

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