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

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

Post by Stox 16 on Mon Dec 19, 2011 12:10 am

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

Post by oftenwrong on Sun Jul 01, 2012 5:44 pm

What decent ordinary working people want is a safe home for their savings.
Many of the existing Banks, almost without exception, have shown themselves to be unfit for that purpose.

Whoever comes up with a sensible and reliable alternative will leave the previous lot taking in each others' washing so as to have something to do.
Building Societies formerly filled the role, but would now require a change in the Law for them to operate with limited Capital in order to start up again.


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

Post by Stox 16 on Mon Jul 02, 2012 12:55 am

tlttf wrote:I'm in the unfortunate position of having to agree with you Stox with one caveat, that all three parties have been involved and not just the one.

We are in total agreement than tittf. as it must be all parties in my view to be seen as being far. but never mind tittf you will soon get over agreeing with me ha ha that was a wee joke on my part. but then its good to agree sometimes tifft.
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Stox 16 on Mon Jul 02, 2012 1:03 am

oftenwrong wrote:What decent ordinary working people want is a safe home for their savings.
Many of the existing Banks, almost without exception, have shown themselves to be unfit for that purpose.

Whoever comes up with a sensible and reliable alternative will leave the previous lot taking in each others' washing so as to have something to do.
Building Societies formerly filled the role, but would now require a change in the Law for them to operate with limited Capital in order to start up again.


OW
you have posted a good post here. as I think you are in agreement over the whole question of the need for Building Societies. I am still a member of the N & P Building society and its very well run indeed thank god. My business is with the Dutch bank ING as I have never trusted the UK big four banks and there cartel they run. if I was to have a UK bank then it would be the Co-op bank.
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Ivan on Tue Jul 03, 2012 12:06 am

Cameron has asked Labour to apologise for failing to regulate the banks.

This is what the Tory Party was advocating in 2007, at the height of the Libor collusion:-

“Labour claims that this regulation is all necessary. They seem to believe that without it banks could steal our money… This shows ignorance of how a competitive market works. Our aim is to liberate the economy from the burden of unnecessary regulations.”

http://www.conservatives.com/pdf/ecpgcomplete.pdf

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

Post by blueturando on Tue Jul 03, 2012 12:16 am

While Politicians and people like us play the blame game, the Bankers and other similar con merchants will happily carry on with their greed.

Maybe its time someone with enough clout and morals sets up a new co-operative bank where they dont play risky games with our money and fix interest rates. We should all be then encouraged to join this new bank and put the likes of Barclays out of Business

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

Post by oftenwrong on Tue Jul 03, 2012 10:19 am

A National Bank was established by the Labour Government in 1964. It was called the National Girobank, and operated through branches of the Post Office.

Upon a change of administration, the Tories flogged it to the Alliance and Leicester Building Society, who quietly allowed it to die.
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by trevorw2539 on Tue Jul 03, 2012 10:53 am

http://www.huffingtonpost.com/2011/11/21/richard-branson-buys-northern-rock_n_1105513.html.

Interesting quote

While the keys wait to be handed over, the minds at Virgin Money are busy trying to give the banking world a much-needed boost. Currently known as Virgin Money, the financial branch will be officially named once the transaction is completed in 2012. Until then, Branson muses whether the word 'bank' conjures up negative connotations Basketball





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

Post by Mel on Tue Jul 03, 2012 4:56 pm

Ivan Quote---
This is what the Tory Party was advocating in 2007, at the height of the Libor collusion:-

“Labour claims that this regulation is all necessary. They seem to believe that without it banks could steal our money… This shows ignorance of how a competitive market works. Our aim is to liberate the economy from the burden of unnecessary regulations.”

The Tories cry purely for political gain "Labour failed to regulate the banks"

blue you answered that with Quote--"While Politicians and people like us play the blame game, the Bankers and other similar con merchants will happily carry on with their greed"

A typical Tory reply that ignores the truth when it's put in front them by sidestepping the reality with "while politicians play the blame game"

In this case which party is playing the game of hypocrocy? Perhaps you will you now come out and accept the truth of the matter as Ivan has pointed out it out so clearly.
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by trevorw2539 on Wed Jul 04, 2012 8:18 am

Love the description of bankers and traders by an analyst this a.m. Wed.

'They know the price of a bottle of champagne and luxury hotels, but not the price of a bottle of milk.' Smile

Spot on. Cheers (with a glass of full cream milk).
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by oftenwrong on Wed Jul 04, 2012 11:49 am

QUOTE: "Until then, Branson muses whether the word 'bank' conjures up negative connotations"


.... and the rest of us muse whether the name "Branson" conjures up negative connotations ....
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by blueturando on Wed Jul 04, 2012 3:55 pm

blue you answered that with Quote--"While Politicians and people like us
play the blame game, the Bankers and other similar con merchants will happily carry on with their greed"

A typical Tory reply that ignores the truth when it's put in front them by sidestepping the reality with "while politicians play the blame game"

In this case which party is playing the game of hypocrocy? Perhaps you will you now come out and accept the truth of the matter as Ivan has pointed out it out so clearly..


No problem Mel....Lets have a Judge led public enquiry to see how far the Bankers greed went in the Libor case.....and who knew more than they are letting on. I would imagine Mr.Balls and Mr.Brown are a bit twitchy and are hoping Ed Milband shuts his trap soon and eventually a 'whitewash' parliamentary committee enquiry is the choice made.

At the end of the day it's obvious to me that you don't give a dam what the bankers do and how greedy they are, as long as you can tie that in with the Tories.....some way, somehow..anyway you can no matter what...truth or fiction!. Well that may come back to bite you in the ass....lets wait and see Very Happy

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

Post by Phil Hornby on Wed Jul 04, 2012 4:14 pm

If Balls is culpable ( which he unequivocally denies, saying he was Childen's Minister at the relevant time) and Miliband is, nonetheless, still pressing for an judge-led enquiry, that suggests he is prepared to expose more to the public than any Tory PM with a dodgy Chancellor would do...

Let's face it - when in opposition, Cameron called for an enquiry a week in his quest for power. Strangely, now he is in the spotlight, he seems a little less enthusiastic. Could he by any chance be having yet another attack of the hypocrisy virus from which he is such a regular sufferer...? Shocked
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by astradt1 on Wed Jul 04, 2012 4:15 pm

Interesting slant.....Those with the most to loose are calling for the most inclusive inquiry?

The old double bluff.......

I wonder why we didn't see the same tactic used on the inquiry in to press behaviour?

Surely it would have been Dave calling for a Judge lead inquiry and not Ed in that one?
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by blueturando on Wed Jul 04, 2012 4:20 pm

Surely it would have been Dave calling for a Judge lead inquiry and not Ed in that one?.

I think we will eventually find they all have a lot to lose...As call me Dave might say 'They all in it together'

Get Judge Judy in to sort them out Smile

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

Post by astra on Wed Jul 04, 2012 4:55 pm

Judge Judy?

I prefer someone like -


George Jeffreys, 1st Baron Jeffreys of Wem, PC (15 May 1645 – 18 April 1689),
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by oftenwrong on Wed Jul 04, 2012 5:29 pm

Judge Jeffereys had a bad press because the Law of England was so inflexible at the time. Once an accused was found guilty, the only sentence available to an Assize Judge was the equivalent of our nuclear option. There were none of the intermediate stages which have developed over time, such as Fines or probation, suspended sentences or psychiatric treatment. Nevertheless, he did have a rather gung-ho attitude to his responsibility for "jail-clearances".
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Stox 16 on Thu Jul 05, 2012 12:18 am

blueturando wrote:blue you answered that with Quote--"While Politicians and people like us
play the blame game, the Bankers and other similar con merchants will happily carry on with their greed"

A typical Tory reply that ignores the truth when it's put in front them by sidestepping the reality with "while politicians play the blame game"

In this case which party is playing the game of hypocrocy? Perhaps you will you now come out and accept the truth of the matter as Ivan has pointed out it out so clearly..


No problem Mel....Lets have a Judge led public enquiry to see how far the Bankers greed went in the Libor case.....and who knew more than they are letting on. I would imagine Mr.Balls and Mr.Brown are a bit twitchy and are hoping Ed Milband shuts his trap soon and eventually a 'whitewash' parliamentary committee enquiry is the choice made.

At the end of the day it's obvious to me that you don't give a dam what the bankers do and how greedy they are, as long as you can tie that in with the Tories.....some way, somehow..anyway you can no matter what...truth or fiction!. Well that may come back to bite you in the ass....lets wait and see Very Happy


A good pragmatist is not just a bluffer but a double bluffer. He lies not only about what he thinks but also about what he intends to do in a meeting. I was left thinking that Bob Diamond the Ex-Chief Executive of Barclays bank just left me thinking he was a past master at the art of this game. As the idea that any politician or Bank of England Deputy Governor would agree to the practice of fixing the Libor rate is quite frankly is a pile of fossilized crap.

I am not noted for supporting any politician or Bank of England staff member out of some blind loyalty to either. As any wrong doing should not just be met with a resignation statement but face the full force of the law. Nor do I personally believe that any politician from either the two main parties would be so stupid to even try this sort of thing. So I just do not believe this at all.

So after watch Big Bob Diamond I was left believing that what we are dealing with is a group of investment bankers with there senior management turning a blind eye to what the investment banking arms of the bank was getting up too. In the case of Big Bob Diamond it smells like a case of plausible deniability if your court out. As I just find this idea that he only fond out what was really going on within his own banks investment arm just laughable and if true quite breathtaking too me.

However, what was also very clear to me was that Barclays are not only ones that was engaged in this outrageous banking practice. But lets be very clear about this, as had the US regulator not pulled up Barclays bank and Big Bob Diamond he would still been in place as the banks CEO and this outrageous banking practice could well of gone on again to this very day. But what also struck me was how the house of Commons Treasury Select Committee found out so very little at was even New today, as the MP’s were also looking to clear themselves of any blame.

Its for this very reason that any investigation will fail to get to the very bottom of our banking system and cancer within investment arms within the banks. If any Labour politician found to be involved in anyway should face convection over this issues. So I do not fear independent judicial inquiry. However, it seems that the Tory Party does not share the view that any inquiry should be carried out free political parties acting in a partisan way? As it was so clear today that the Treasury Select committee could not really to this. Nor do I believe that the media and world markets will accept a report that is split down party lines.


So Blue Can you please explain way the Labour Party has requested an independent judicial inquiry that is free of any political parties acting in a partisan way? while the Tory party does not? but are we talking about the Tory party putting its political needs before that of the publics need to know?
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Stox 16 on Thu Jul 05, 2012 12:55 am

Mel wrote:Ivan Quote---
This is what the Tory Party was advocating in 2007, at the height of the Libor collusion:-

“Labour claims that this regulation is all necessary. They seem to believe that without it banks could steal our money… This shows ignorance of how a competitive market works. Our aim is to liberate the economy from the burden of unnecessary regulations.”

The Tories cry purely for political gain "Labour failed to regulate the banks"

blue you answered that with Quote--"While Politicians and people like us play the blame game, the Bankers and other similar con merchants will happily carry on with their greed"

A typical Tory reply that ignores the truth when it's put in front them by sidestepping the reality with "while politicians play the blame game"

In this case which party is playing the game of hypocrocy? Perhaps you will you now come out and accept the truth of the matter as Ivan has pointed out it out so clearly.

Hi Mel
I do find the Tory parties action over this so predictable. Well if they are so very sure that the Labour party had something to hide why are they not calling for a independent judicial inquiry instead of some toothless committee of MP'S? I just do not believe for once this has anything to do with any set of politicians at all. but everything to do with investment bankers own personal greed. I would also say that Big Bob Diamond will be laughing all the way to the bank after how soft the Treasury committee was with him today. its just what I thought right at the very start of this matter and that was no group of MP'S will ever get to the bottom of this at all. After today I can understand why Cameron has ordered a commons inquiry. as the Tory party can keep making political alleged allegation without having to prove any of them. in others words they are trying to use all of this to make political point scoring for there own party ends. well if I was Miliband I would have nothing to do with Cameron's all party committee with out a judge sitting at the top of this committee.
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by oftenwrong on Thu Jul 05, 2012 9:53 am

In the circumstances, the difference between a Judicial Enquiry and a Parliamentary Committe is the difference between Democracy and Capitalism.
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Stox 16 on Fri Jul 06, 2012 12:59 am

Democracy lost today while greedy Capitalism won in my view.
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Mel on Fri Jul 06, 2012 4:21 pm

Of course OW is right in what he has said (as usual) Stox. Cameron can manipulate a Parlimentary Enquiry which will not expose his lot's involvement in this banking saga.

Boris is/was close to Diamond as were many other Tory Ministers. Diamond had put money into the workings of the London Mayor I remember reading somewhere, sometime.
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by astra on Fri Jul 06, 2012 4:33 pm

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

Post by Mel on Fri Jul 06, 2012 9:53 pm

Thanks astra, dats it my friend. cheers
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Phil Hornby on Fri Jul 06, 2012 10:06 pm

After the underhand and dishonest way that Osborne has treated Balls of late (egged on by the likes of the rancid Daily Mail) one imagines that if a Labour Government gets elected in 2015 it will exact plenty of revenge upon the Tories and their willing puppets, the LibDems - not to mention their wider circle of friends beyone Parliament.

And who could blame them...? Very Happy
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by oftenwrong on Fri Jul 06, 2012 10:35 pm

Revenge is a dish best tasted cold. But how enjoyable it would be to see the flames engulf those insensitive Tories.
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Stox 16 on Sun Jul 08, 2012 4:02 am

Phil Hornby wrote:After the underhand and dishonest way that Osborne has treated Balls of late (egged on by the likes of the rancid Daily Mail) one imagines that if a Labour Government gets elected in 2015 it will exact plenty of revenge upon the Tories and their willing puppets, the LibDems - not to mention their wider circle of friends beyone Parliament.

And who could blame them...? Very Happy

Not me Phil for one. The Tory party have gone well over the top this time. I though that last weeks attacks on Ed Balls were utterly disgraceful by Gideon. as it was said with no proof of any kind given by Gideon to his stupid abstract allegations he was making about Ed Balls. all this is based on the mutterings of a few nasty Tories and there friends in the rancid media.
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Post by oftenwrong on Tue Jul 17, 2012 8:07 pm

The Westminster rumour hath it that Dave is going to swop over the jobs held by Gideon, and William Jefferson Hague FRSL MP, during the Summer recess of Parliament.

But how will anyone else know?
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by astradt1 on Tue Jul 17, 2012 10:59 pm

Today we hear that a British based bank HSBC is under investigation, in the USA, for providing facilities for Mexican Drug Lords to launder their ill gotten gains...Even opening a branch in the Cayman Islands which has no staff!!!!!

How much more scandal can the British Banking industry take?
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by astra on Tue Jul 17, 2012 11:06 pm

Plenty more old boy, roll it on HaHaHa!

We KNOW that the soft British Taxpayer will cough up in OUR time of need!!




Makes yer sick dunnit, especially when you think of those that were hanging out of office windows and joyously waving their payslips at people on the street who were fighting for their jobs. These WWWWWWW Bankers had NO empathy for us then, why should WE cough up now?


You know Astradt, that clip has been withdrawn from youtube!! I may be wrong, but.........................................
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by astra on Tue Jul 17, 2012 11:25 pm

The Westminster rumour hath it that Dave is going to swop over the jobs held by Gideon, and William Jefferson Hague FRSL MP, during the Summer recess of Parliament.


Thanks for that OW!

this IS just about, the 78th aniversary of "The night of the long knives!"
(June 30 to July 2 1934)


How appropriate!
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Stox 16 on Mon Jul 30, 2012 1:43 am

Phil Hornby wrote:After the underhand and dishonest way that Osborne has treated Balls of late (egged on by the likes of the rancid Daily Mail) one imagines that if a Labour Government gets elected in 2015 it will exact plenty of revenge upon the Tories and their willing puppets, the LibDems - not to mention their wider circle of friends beyone Parliament.

And who could blame them...? Very Happy

I could not agree more with you Phil.
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by oftenwrong on Wed Aug 08, 2012 7:46 am

A correspondent in the Financial Times queries US motives in alleging money-laundering by the Standard Chartered Bank. There is more than a whiff of London-bashing in recent commentary about banking irregularities.

http://www.csmonitor.com/Business/Latest-News-Wires/2012/0807/As-Standard-Chartered-plunges-taint-for-London-banks-spreads
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Mel on Wed Aug 08, 2012 10:23 am

Having worked for Standard Chartered for some years, I may appear to be bias.

I do not hold with this accusation by the New York Department of Financial Services.

Standard Chartered has vigorously denied the allegations and said "the statement does not present a full and accurate picture of the facts.” Just $14 million worth of transactions are suspect, the bank said.

I am of the opinion that the bank is being made an example of, in an attempt to make sure other American based banks toe the line.

Nothing severe will come of this IMO.

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

Post by oftenwrong on Wed Aug 08, 2012 7:27 pm

The Governor of The Bank of England, no less, has today announced publicly that there will be no growth in the UK economy this year. Quelle surprise!

By way of explanation there is uncertainty in the Eurozone, and the problems are global.

But up to now they have been saying that it was all the fault of Gordon Brown and the previous administration.

Hard to know who to believe, isn't it?



Last edited by oftenwrong on Wed Aug 08, 2012 10:57 pm; edited 1 time in total (Reason for editing : correct sp.)
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by betty.noire on Wed Aug 08, 2012 9:33 pm

[quote="astra"]
this IS just about, the 78th aniversary of "The night of the long knives!"
(June 30 to July 2 1934)

How appropriate!

Yet another Nazi reference. Rolling Eyes
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by astra on Wed Aug 08, 2012 10:20 pm

13/7.1962

It was the most brutal cabinet reshuffle in British political history. Fifty years ago Prime Minister Harold Macmillan shocked the nation by sacking seven ministers in what became known as the 'Night of the Long Knives'. But does the legend give the full story and are there parallels with today?

"What happened in 1962 is off the scale of all ministerial changes under virtually any prime minister because it's a third of the cabinet," according to Peter Caterall, editor of Macmillan's private diaries.

While the events were unprecedented, this sacking of so many senior colleagues was also believed to be out of character for Macmillan.

But he was a prime minister under pressure.

As the sixties progressed, the once popular Macmillan began to fear his Conservative party was in meltdown.

http://www.bbc.co.uk/news/uk-politics-18722428


Dare not comment or some other smart comment will be coming forth 50 years.
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by betty.noire on Wed Aug 08, 2012 10:27 pm

The 1934 date kind of gave it away, so don't try and twist and turn Mad

Godwin's Rule of Nazi Analogies seems to be de rigueur here Laughing
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by oftenwrong on Wed Aug 08, 2012 10:52 pm

The Night of the Long Knives (German: Nacht der langen Messer, the Röhm-Putsch, was a purge that took place in Nazi Germany between June 30 and July 2, 1934, when the Nazi regime carried out a series of political murders. Leading figures of the left-wing Strasserist faction of the Nazi Party, along with its namesake, Gregor Strasser, were murdered, as were prominent conservative anti-Nazis (such as former Chancellor Kurt von Schleicher and Gustav Ritter von Kahr, who had suppressed Hitler's Beer Hall Putsch in 1923). Many of those killed were leaders of the Sturmabteilung (SA), the paramilitary brownshirts.

The Press love to hang a familiar phrase around a recurring incident (like adding -gate to every conspiracy since Watergate) but there is no suggestion that Harold Macmillan actually killed anyone.
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by betty.noire on Wed Aug 08, 2012 10:57 pm

my point was , old astra said "Thanks for that OW! this IS just about, the 78th aniversary of "The night of the long knives!" (June 30 to July 2 1934) How appropriate!" then tried to pin it all on that droopy eyed ,snaggle toothed cuckold Macmillan.

Just pulling the shutters up on the hypocrisy that is cutting edge
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betty.noire

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

Post by oftenwrong on Wed Aug 08, 2012 11:03 pm

Participation in this discussion is voluntary. To the Pure, all things are pure.
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Stox 16 on Thu Aug 09, 2012 3:56 am

[quote="oftenwrong"]Participation in this discussion is voluntary.

A very fair summary OW.. i must say.
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Re: Is it right for bankers to act like this? Anyone for a cheap drink?

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