Skip to main content

The story of Barclays Bank

So, let me get this right.
1. Barclays rigged Libor rates.
2. They missold customers in excess of £4billion of products, including PPI and interest rate swaps .
3. They have made a £329 million loss at their investment arm that has since put aside £2.37billion for bonuses "to retain the best" (presumably the same 'best' that helped them lose £329m)
4. They lost Tom Bower's family heirloom jewellery, claiming they didn't receive two recorded delivery letters sent to them and have no video evidence of anything.
5. They are making 7,000 ordinary banking workers redundant
6. You apply for a loan or credit card with Barclays for, say, £500
7. They run a credit check on you
Labels:

Comments

Post a Comment

Popular posts from this blog

The "Win a Million" free scratch card newspaper inserts

One of those three-panel "Win a Million" scratchcards fell out of my newspaper this morning. Not a major or in anyway newsworthy event in itself, but I must admit my surprise. I didn't think anyone bothered with them anymore, or, to be a little more technical, I didn't think anyone was taken in by them anymore. Firstly, it actually is printed on the bottom of each panel that "Every card has a set of 3 matching symbols, 2 matching symbols and no matching symbols". Right, so you are going to 'win', half-win and not win respectively. Then, while the prize list is somewhat impressive with 1x£1m, 1x£100k, 2x£20k, 3x£10k and other things like holidays, tablet PC's city breaks all the way down to 1000 "faux" fashion watches, 1000 salon  makeovers and 1000xVIP Thames cruises. Now should I be stupid enough to spend the £1.53 a minute for the 6 minute phone call to claim my prize (that's almost a tenner, for those of you without cal...
2 comments
Read more

Chancellor's letter of apology to Bob Diamond of Barclays

Thanks to my contacts at the new News International business "Phonetaps'R'Us", I was exclusively sent a copy of a letter sent to the Chief Executive of Barclays Bank, Bob Diamond, from the Chancellor yesterday. "Dear Bob Trusting you and yours are well. Listen mate. Sorry the F inancially S tupid A sses wrote to your bank yesterday to demand £290million as a fine. It's nothing personal, and just because your bank head office people are a bunch of dishonest, thieving bastards, I thought there was no reason to carry on that way and fine you. I made this clear to the FSA yesterday as soon as I heard the news. I told them that the taxpayer would have been more than happy to bail you out. And also. Look mate. Sorry you've had to give up your bonus this year. It must have come as quite a shock, and was a wonderful thing for you to volunteer to do. I only hope you've put something by from the £17million you received last year. No doubt the bank pay...
Post a Comment
Read more

"Q". My name is Bond. Oh. not THAT Q.

I was sent a story today by a friend who knows my feelings on the subject - that is, about one of the consummately greatest of all British activities, namely, queuing. It seems some Danish Professor or other has come up with the theory that those who queue the longest should actually be served the last. He claims it makes purchasing something altogether more efficient and smooth through the idea of 'contra-queuing' (whatever the devil that may mean). 'Serve the people at the back of the queue first', he says, with profound wisdom. Altogether very professorial, albeit demonstrating a somewhat keen lack of understanding of the purchasing psyche. The Nobel Prize-chasing Prof suggests that if, for example, a popular entertainment act was to announce a tour, with tickets going on sale at 11am one morning, using the theory of 'contra-queuing', no one will want to be first to buy said tickets. So no one will turn up 14 months in advance and venues will...
2 comments
Read more