Economy & Banks

My old workplace (private investment bank) tried to implement what they called 'triple bottom line' i.e. people, planet, profit. Granted, under 400 employees size.

It worked suprisingly well by the industry standards, they did so much good(and turned a profit) as well.

That model is in no way applicable in a 10,000+ organisation. That is the problem. these banks are not just too big to fail, they are just too big.

I might apply for his job.

I'm ahead of you, just finished re-writing my CV with wax crayons.

maybe we could job share
i need about £500k to retire
dibs the first fortnight then i could hand over to hippy

I'm not sharing, Its my job and i'm going home.

#spitsbubblyoutofferraripram

I'll gamble the first billion quid and then we can just work around from the dealer's left until we've spent it all. Split the profits, split the pension. Job done.

I'll gamble the first billion quid and then we can just work around from the dealer's left until we've spent it all. Split the profits, split the pension. Job done.

I'll gamble the first billion quid and then we can just work around from the dealer's left until we've spent it all. Split the profits, split the pension. Job done.

I'd start a payday loans company, offer the best rates around, make the others go bankrupt, then keep the initial billion, donate the profits to Cancer research and spend the billion making sure they could never operate again

diamond set to rake up some muck when he appears in front of some banking parliamentary enquiry

Article in the Independent this morning questioning whether the Bank of England and Whitehall were in on the Libor scandle.

phone calls from the treasury to bank of england - bank of england to barclays
faking the rate

they're all as dodgy as one another lets hope diamond blows the whistle .. although he'll probably be offered something to keep schtum

If he does blow the whistle then surely Osborne and Cameron will have to resign?

Ha!

it's all part of bliars time in charge not cameron's mob
this goes back to before the start of the credit crunch
the first lies were told back then and they have persisted

I should hope so!

wow tony bliar ...
the more we hear about what went on under his governement the more i wish the most painful death on him
where are al-qaeda when you need them ?

diamond gives up £20mn bonus and shares options .... but still manages to get a donation to his pension pot of £2mn

nice

from bloomberg
first few lines of a news story

HSBC did business with firms linked to terrorism, failed to guard against money laundering violations in Mexico, and by passed US sanctions against Iran.

Another sterling endorsement for the industry we all love to hate

new euro

.

So we're deep in the double dip.
http://www.bbc.co.uk/news/business-18977084
Economy still contracting. On the news just now the reason is...

The extra bank holiday.

Seems the queen is to blame, not George Osborne the 'chancellor on work experience'

don't worry the olympics will save us

Sure. We'll be paying for the games for the next few decades. London has been recession resistant largely, but wait till after the olympics...

Nah Rich people whose countries are much deeper in the shit than our own continue to invest in the London property market like there is no tomorrow as it is seen as a relatively safe bet. That trend will probably continue.

London home sellers cut prices by a record for the month of July as an increase in supply added to pressure on the property market during the traditional summer lull, Rightmove Plc (RMV) said.
Asking prices dropped 3.6 percent from June to an average 460,304 pounds ($715,600), the operator of Britain’s biggest property website said in an e-mailed report today. Across England and Wales, values fell 1.7 percent to 242,097 pounds.

In London, part of the price decline may have reflected a tax increase on properties costing at least 2 million pounds, announced by the government in March, Rightmove said. Values in Kensington and Chelsea, the capital’s most expensive district, fell 5.1 percent in July to 2.03 million pounds.
The drop in London follows “several months of fairly heady price increases,” said Miles Shipside, commercial director of Rightmove. “It might just be that the market is finding a price level where buyers and sellers are willing to transact.”

http://www.bloomberg.com/news/2012-07-15/london-house-prices-plunge-as-supply-surge-adds-to-summer-lull.html