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Police and Crime Commissioner for Thames Valley says our banking system is corrupt

(5 Posts)
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Eloethan Sat 23-Jun-18 21:29:44

varian Well, in a small way, that's what I was trying to do but it seems that very few people are interested in the fact that our banking system appears to be completely self-serving and corrupt.

I suppose it does sound a rather "dry" subject but in fact the Commissioner's deposition came from the heart and is quite shocking. It is so important because most of the issues that affect individuals and businesses have an economic basis, and, as the banks have a pivotal role in the way our economy runs, they should be properly overseen and regulated. The Commissioner believes, and many people agree with him, that there should not be a revolving door between the senior personnel of our major banks and large accountancy practices (particularly when those personnel have demonstrated their absolute incompetence) and the regulatory bodies.

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varian Sat 23-Jun-18 19:54:38

This should be publicised and investigated.

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Teetime Sat 23-Jun-18 09:07:05

Can this be true? What a shock??????

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Namsnanny Sat 23-Jun-18 00:53:56

Eloethan,

Thanks for the link, will read it later, bit late for me!

Have you watched any PBS programs? I've seen some very explanatory programs about this very topic.
Look out for them, I'm sure you would find them interesting!

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Eloethan Sat 23-Jun-18 00:04:37

It seems the whole country is divided as to issues like Brexit, the funding of the health service, etc. etc. But meanwhile .......

Matters that impact heavily on all these issues seem to be not very widely reported or analysed in the media and therefore seem to fly under the radar so far as the general public is concered.

If anyone is interested, here is a link to the testimony of April this year to the International Tribunal for Natural Justice on the issue of Global Corruption and Collusion given by Antony Stansfeld, Police and Crime Commissioner for Thames Valley.

It is a truly shocking indictment of the banking system as it currently operates.

He says that "something has gone seriously wrong in the leadership of our major banks". He refers to what is, in effect, a commercially incestuous relationship between banks, regulatory authorities, insolvency practitioners, law firms, and accountants/auditors. He says:

"There is a massive problem in our regulatory authorities. I find it quite extraordinary that the chairman of the FCA, until the beginning of this month, was a very senior partner of KPMG which did the audits of HBOS. They overlooked a fraud approaching £1 million and a multi-billion hole in the accounts. This man went on to be Chairman of the FCA (Financial Conduct Authority). The Chairman of the FRA (Financial Reporting Authority) gave KPMG a clean bill of health last year. His previous job was Chirman of Lloyds when this was going on so how on earth do people expect to get justice with a system like this."

It is a longish statement but very clearly articulated and shockingly enlightening. I hope some people will listen to it and ponder its contents.

www.bing.com/videos/search?q=anthony+stansfeld+hbos+lloyds+youtube&view=detail&mid=7667543B7CFA698D90EC7667543B7CFA698D90EC&FORM=VIRE

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