Is it right for bankers to act like this? Anyone for a cheap drink?

First topic message reminder :

So Cameron looks after the interests of the City Bankers while they have a cheap drink or two. are you happy with this?

In an interview with the Times, Diamond said the rule applied to bankers considered to be prima donnas, too greedy, too ostentatious or poor team players. He said he had already kicked out 30 staff for breaking his new ethics rule.

"If someone can't behave with their colleagues and can't be part of the culture, it doesn't matter how good they are at what they do, they have to be asked to leave," he said.

Referring to the incident at the Gordon Ramsay restaurant Petrus, Diamond said: "That was embarrasing. It was taking advantage – we have a responsibility to our colleagues to have acted that way in a public place was inexcusable."

The bankers consumed some of the most expensive wine available to London diners: a 1982 Montrachet priced at £1,400 and three bottles of Petrus Pomerol. A 1945 bottle of Petrus cost £11,600, a 1946 bottle £9,400 and a 1947 bottle £12,300. There was also a dessert wine costing £9,200. The restaurant threw in the food for free.

Still.... as Cameron said, We must look after the interests of the City from Europe. I can see what he means by this. as its so worrying that they are driven to drinking £12,300 bottles of wine. Still they do pay the Tory party £6 million a year to look after them. Wounder who looks after the rest of US? or the 2.7Million Unemployed.

I can't avoid the thought that the words "Tory" and "Banker" have no separate meaning from each other.

A beauty Ivan, I would really love to have a brain like yours to think these letters up, please keep them coming, and maybe send them to David himself.

I didn't write it, stu, it's just something I found on Twitter!

Never mind Ivan still a beauty, pass my regards on to the writer if you come across them again please.

That Keith Cameron writes a smashing letter

boatlady you just make me laugh out loud at times thank-you

The Bankers seem to think that it's now alright to resume their previous standards of service to the public. HSBC threatening to transfer their business from Canary Wharf to Hong Kong (as if !!!) has frightened the government into sacking the official at the FCA who had been making trouble for them.

Apparently HSBC will not face any action here over its sheltering of tax-evading Britons' accounts in Switzerland.
Of course not, would you punish a cat for catching a mouse? It's in their nature, they can't help doing it. Again, and again and again.

http://www.msn.com/en-gb/money/companies/hsbc-escapes-action-by-city-regulator-following-swiss-tax-scandal/ar-AAgm6KZ?li=AA54rU&ocid=U219DHP

This has not been a good time for Standard Chartered Bank, having lost three-quarters of its share price since 2014 and last week reported its first annual loss in 25 years.

So heads must roll, and former deputy chief executive Mike Rees, at the age of 60 has fallen on his sword. On leaving, he will receive a pension of £590,000 (that's eleven thousand pounds a WEEK).

I reckon even my daughter could scrape by on that.

20. April 2015 Ivan quoted a twitter:

https://cuttingedge2.forumotion.co.uk/t240p160-is-it-right-for-bankers-to-act-like-this-anyone-for-a-cheap-drink

The British Bankers' Association (est 1919) is changing its name to: UK Finance

Just sayin'

UK's high street banks are accident waiting to happen, says report

Kevin Dowd, a professor of finance and economics at Durham University and a long-standing critic of the stress tests, said the Bank of England does not use the correct measures to assess the health of the banking system. Dowd is also a senior fellow at the Adam Smith Institute, a rightwing thinktank.

http://www.msn.com/en-gb/money/news/uks-high-street-banks-are-accident-waiting-to-happen-says-report/ar-AArQ8iJ?li=AA54rU&ocid=mailsignout

Bank of England warns a consumer debt crisis could cost banks £30bn

For several years the Bank of England has shored-up Retail Banks' reserves by offering cheap loans called quantitative easing, which I understand to mean printing money. The idea was to enable loans to business, but the Bankers, as they do, saw greater profits in lending to the general public. So we still have the opportunity to borrow on credit cards interest-free for 30 months or so on payment of a fixed fee around 3%.
Let's hope everybody pays it back before being hit with 17% credit charges after the 30 months are up.

http://www.msn.com/en-gb/money/news/bank-of-england-warns-a-consumer-debt-crisis-could-cost-banks-%c2%a330bn/ar-AAsqAbP?li=BBoPWjQ&ocid=iehp

Labour's response:

John McDonnell vows to cap credit card interest to tackle 'debt crisis'

http://www.msn.com/en-gb/money/personalfinance/john-mcdonnell-vows-to-cap-credit-card-interest-to-tackle-debt-crisis/ar-AAspLNK?li=AA54rU&ocid=iehp

Interesting idea, that - should make financial institutions more cautious about extending credit

financial institutions more cautious about extending credit

Not a headline we can expect to see any time soon, unfortunately.