Yet Another Bank Accused Of Fraud !

[mikey4444]

http://www.bbc.co.uk/news/business-28030351

Where is this all going to end ? I suppose banks are always going to try to make money by any method at their disposal, legal or not but where were the regulators when all this was going on ?

[Zacs-Master]

Where is this all going to end ?.......
It won't. It is human nature to try to beat systems in ingenious ways. Dark pools are just one example. I'm pretty sure that if Barclays want to keep up with competitors then trading in these dark pools is virtually essential, as I'm pretty sure other banks will operate in this way.

[mikey4444]

So where are the Regulators in all this ? They cost huge sums of money, for which we are all paying but seem to be about as useful as a chocolate teapot when it comes to their essential business, ie regulating.

[Zacs-Master]

It's all a game. The regulators slap the banks on the wrist and say 'don't do that again' whilst the banks are making billions and publicly denounce a 'renegade faction' within their organisation and will put stringent measures in place to ensure it doesn't happen again. Same old, same old.

[youngmafbog]

It's not the DAark Pool that is in question, it's how Barclays are accused of selling it.

The American regulators are better at the game than ours. What you do is let the Banks carry on, issue a law suit, come to a massive agreement (effectively a Bankers tax) in $Billions and all are happy.

[youngmafbog]

Have you ever dealt with the regulators Mickey?

I have on both sides of the pond and I can assure you they are not the high flyers you might imagine.

[mikey4444]

Yes, I have ymb, in my years working in the Financial Services industry, and another yes...we appear to have one of our rare agreements on this issue.

I came into conduct with them when they came into my firm and most of them were wassocks, and well-paid wassocks at that.