It was the bankers fault

[LucidDementia]

They are no different to highly organised criminal gangs robbing people of their life savings. They should be treated as such.

I think you're confusing the banks with their interest collectors: the government

[LucidDementia]

Jail.


They create money out of thin air and charge you labour for it, let them rot.

FTFY

[BigRed]

Sigh, here we go again! Each time anyone mentions bankers, up pipe all the chippy plebs shrieking about prosecutions and lamp posts.

If prior to 2008 in opening a building society savings account you would have chosen one with the highest interest rate then you're as bad as bankers.

Since practically everyone would choose a savings account with the best rate of interest, all things being equal, we're all as bad as bankers, just not nearly as successful (which of course is the real gripe).

Envy is the besetting sin of this country. Our national anthem should start "Who do they Think They Are?"

You might have assumed that a mutual society who were not tied to shareholders would be more cost efficient and would have cut out the big cats. You would have course be wrong.

[Zero Liability]

Sigh, here we go again! Each time anyone mentions bankers, up pipe all the chippy plebs shrieking about prosecutions and lamp posts.

If prior to 2008 in opening a building society savings account you would have chosen one with the highest interest rate then you're as bad as bankers.

Since practically everyone would choose a savings account with the best rate of interest, all things being equal, we're all as bad as bankers, just not nearly as successful (which of course is the real gripe).

Envy is the besetting sin of this country. Our nationaal anthem should start "Who do they Think They Are?"

It's not like jailing them or putting in rubbish "regulation" is going to fix anything, anyway. If it were not in politicians' interests for the banks to go on credit expansion frenzies every few years, keeping their sovereign debt cheap (and in high demand), tax receipts inflated and stock markets buoyant, they'd do something about it, beyond the unproven assertion that ring-fencing is going to fix it all.

I thought this was good: http://www.telegraph.co.uk/finance/c...edibility.html

[OwlHoot]

Sigh, here we go again! Each time anyone mentions bankers, up pipe all the chippy plebs shrieking about prosecutions and lamp posts.

If prior to 2008 in opening a building society savings account you would have chosen one with the highest interest rate then you're as bad as bankers.

Since practically everyone would choose a savings account with the best rate of interest, all things being equal, we're all as bad as bankers, just not nearly as successful (which of course is the real gripe).

Envy is the besetting sin of this country. Our nationaal anthem should start "Who do they Think They Are?"

[Zero Liability]

The report says that when the then regulator, the FSA, investigated HBOS, it relied too much on the bank's senior management.

It said the FSA's supervisory framework:

•Had inadequate resources devoted to big banks

•Was too trusting of senior management

•Had a risk assessment process that was too reactive

Overall it said the FSA's approach was "deficient".

HBOS report: 10 executives could face ban - BBC News

So basically FCA want more money?

I think they've switched to stupidity/carelessness as a defence for their own role in the whole affair. The 'deficiency' in the whole thing was that the incentive structure put in place by governments for banks encourages recklessness, whilst it benefits them. When it stops benefiting them, eg during a 'crisis', then you get all the 'critical self examination', promises to 'get tough' etc, whilst the banks still largely operate in a similar way, with useless band aid fixes put in place to pretend the problem is under control.

[AtW]

They are no different to highly organised criminal gangs robbing people of their life savings. They should be treated as such.

They are.

Getting a slap on a wrist...

[DimPrawn]

They are no different to highly organised criminal gangs robbing people of their life savings. They should be treated as such.

[WTFH]

They should jail them, not ban them. They have cost the taxpayers billions just to prop up their bonuses

+1000000000000

Very long jail sentence and confiscation order for all property is in order surely.

Jail & fine.


They live for money, take it from them

[MrMarkyMark]

it relied too much on the bank's senior management.

So they listened to all the senior feckwits who never really know, exactly, what is going on anyway.

[AtW]

They should jail them, not ban them. They have cost the taxpayers billions just to prop up their bonuses

+1000000000000

Very long jail sentence and confiscation order for all property is in order surely.

[BigRed]

They should jail them, not ban them. They have cost the taxpayers billions just to prop up their bonuses

[BrilloPad]

The report says that when the then regulator, the FSA, investigated HBOS, it relied too much on the bank's senior management.

It said the FSA's supervisory framework:

•Had inadequate resources devoted to big banks

•Was too trusting of senior management

•Had a risk assessment process that was too reactive

Overall it said the FSA's approach was "deficient".

HBOS report: 10 executives could face ban - BBC News

So basically FCA want more money?

[DimPrawn]

Greedy bankers being patted on the back by FSA for their awe inspiring hubris and risk taking. They were the gamblers and the casino, so they couldn't lose.

Of course they all got their comeuppance in the end.......£100m bonuses and free use of company super yacht for life.

[barrydidit]

FCA reporting the full gory details of HBoS collapse here:

FCA and PRA review into the failure of HBOS Group - Financial Conduct Authority