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It has been revealed that the Serious & Organised Crime Division is leading an enquiry into the Scottish banking sector
Anyone offering odds on the enquiry spilling over south of the border?
I would imagine it would be the banks making money out of it.
But if individuals at the banks were also making a killing on it then they should be prosecuted.
A proper enquiry is the only way to find out.
I don't think that the quick enquiry that the PM wants will route out all of the culprits.To me it looks like embezzlement on a big scale and they all must be held to account.
I think there is going to be a vote in the commons on Thursday to decide if they are going to go the PM's way or the Labour way.
As the Conservatives are the biggest party no doubt it will be the PM's way.
"I don't think that the quick enquiry that the PM wants will route out all of the culprits.To me it looks like embezzlement on a big scale and they all must be held to account."
A parliamentary inquiry has already been announced. Embezzlement would involve the fraudulent appropriation of bank customers' funds for personal use, and as far as I'm aware there's absolutely no evidence in the public domain that even hints at that.
You are quite right and I don't know where I got that from.
*the FSA has said it found "serious failings" and had "reached agreement with......" over providing "redress". *
so a small fine and a few sacrificial lambs and more importantly,a promise never to do this again,or at least not get caught.
The FSA should come under a public enquiry over their ineffectiveness.
Going with the latest news the bank of England are getting drawn into it so will have to wait to see the outcome of that.
Reports from the news said that the Bank of England may have asked or put pressure on Barclays to do what they did.
This from the telegraph.
Barclays publishes "smoking gun" email that reveals conversation between the Deputy Governor of the Bank of England Paul Tucker and Bob Diamond over key bank lending rate.
So will see what tomorrow brings.
If the Scottish equivalent of the Fraud Squad has started a criminal investigation into the whole sector, not just individuals, any hint of a link in England would make any other enquiry, for the moment, a sideshow.
While the two systems are separate, the Supreme Court covers appeals in both jurisdictions, and they would not want to give grounds for an appeal (or perhaps they would!).
A parliamentary inquiry surely cannot be right.
What have we got here? Expense Bandits looking into the dealings of Del Trotter mentality wide-boys.
Then again, it's reckoned that the best poachers make the best game-keepers. What a performance -- deep joy!
I wasnt listening intently,but it appears from the news during the early hours that not just banks were involved in shady rigging as Toshiba have been fined for price fixing along with several other large international companies.
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