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Barclay's Diamond Goes M.A.D. Over Lie-borgate Details

Tyler Durden's picture




 

It's escalating. Following the resignation of Barclays' Chairman this morning, the government announced a twin probe into the Libor system and banking standards; and Bob Diamond (Barclays CEO) is threatening, according to the FT, to reveal potentially embarrassing details about Barclays' dealing with regulators if he comes under fire at a parliamentary hearing on Wednesday over Lie-borgate. Unlike his almost-namesake Jamie Dimon who suffered through the indignity of a congressional probing, Bob has gone all Mutually Assured Destruction with confrontational tactics that could further aggravate the fraught relations between the bank and the authorities. "If he is attacked, he will fight back" seems to be well understood and the key aspect - as we have pointed out - is that if this is pursued too vehemently then the whole house of cards could come down as [regulators and politicians] "likely knew perfectly well those rates were not the ones where banks were prepared to lend to each other". So much was made at the time of several of these short-term liquidity measures as indicative of 'no' stress to the ignorant investing public when credit market participants were well aware of the state of reality - perhaps it is worth a glance at the current levels of Lie-bor (especially relative to EUREPO and CDS curves) to get a sense of just what could happen if the truth was ever allowed out into the public eye. M.A.D. indeed.

 

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Mon, 07/02/2012 - 22:42 | 2582526 zorba THE GREEK
zorba THE GREEK's picture

Now this is getting interesting. Time to break out the popcorn.

Mon, 07/02/2012 - 22:52 | 2582552 ghengis86
ghengis86's picture

If by 'popcorn' you mean ropes, lamp posts, bankers and regulators, then yes, let's break out the fucking 'popcorn' and have ourselve as a party!

Mon, 07/02/2012 - 23:02 | 2582571 BoNeSxxx
BoNeSxxx's picture

+1

 

Methinks the banker scum are reverting to what they know best... the Law of REALLY Big Numbers.

 

The stack of crimes is sooooo f'ing deep at this point, I am losing track of them all... I've even partially forgotten about Corzine.

 

Thank the stars for Tyler Durden and his (their) relentless heat.

Mon, 07/02/2012 - 23:46 | 2582655 CrazyCooter
CrazyCooter's picture

Shamelessly off topic ... I am trying to discuss a political football with some friends on a political mailing list (libs, cons, preppers, etc). All acquaintances from my engineering background.

I am coming up blank on the event where Europe dumped grain in the sea, to boost prices, while people were starving. Prices tanked anyway. I don't think the event had a wiki, I think it was part of a deflationary financial collapse. I want to peg the time frame to the French Revolution, but I think that is wrong.

I googled for a while, came up empty. I obviously have some facts wrong, so looking for accuracy/sources. Wiki would be ideal

Thanks for sharing, please continue down thread like I didn't but in here like an uncouth arse. It is for a good cause!

Regards,

Cooter

Mon, 07/02/2012 - 23:58 | 2582678 CvlDobd
CvlDobd's picture

Also shamelessly off topic. My youngest brother is talking about dropping out of college to join the Army Rangers. I keep telling him there is nothing about this country worth dying to defend. If he were talking revolutionize I could get behind him but not defending our corrupt asshole, bankster paid, "leaders".

Obviosuly I could have him read every ZH article but that wouldn't do it. Anyone know of a concise resource (say one or two page pamphlet) that outlines why everything is shit here and not worth dying for? I hate our leaders and everything they stand for. The only thing that could make me hate them more is them deceiving a family member (and a close one at that) and he dies defending a long dead constitution.

I'm desperate to open his eyes but so far he is resisting. He does go to church sometimes, so perhaps his critical thinking skills just aren't that sharp. lol

Thanks.

Tue, 07/03/2012 - 00:05 | 2582689 LetThemEatRand
LetThemEatRand's picture

I don't agree with your general premise that our country is not worth fighting for, but here is an excellent 3 minute video about the reality of joining the military from an insider.  http://www.youtube.com/watch?v=_8rbHwMXMT8.  It explains that joining the military today has little or nothing to do with fighting for your country.

 

Tue, 07/03/2012 - 00:20 | 2582712 CvlDobd
CvlDobd's picture

Thanks friendo.

 

He sums up the reasons I don't think it is worth fighting for (essentially modern day wars have nothing to do with American freedom) via traditional armed forces outlets.

 

I know I made a blanket statement. There are always a few good things worth fighting for but IMO we are generally fucked and defending the scraps of a once good idea is somewhat pointless.

 

Thanks again for the video, I'll email it to him.

Tue, 07/03/2012 - 00:32 | 2582731 LetThemEatRand
LetThemEatRand's picture

We just need to take it back from the multi-national corporations.  That's worth fighting for. 

Tue, 07/03/2012 - 00:36 | 2582735 CvlDobd
CvlDobd's picture

Yep, see my revolution comment in prior post. :-)

Tue, 07/03/2012 - 01:04 | 2582768 LetThemEatRand
LetThemEatRand's picture

Peace, man.  We're smarter than them.

Tue, 07/03/2012 - 03:15 | 2582867 Short Memories
Short Memories's picture

GONE !!!!

Bob diamond is outa there!! wohooo

 

Tue, 07/03/2012 - 04:05 | 2582879 The Big Ching-aso
The Big Ching-aso's picture

 

 

Mutually Assured Disgustedness.

Tue, 07/03/2012 - 10:28 | 2583635 negative rates
negative rates's picture

Is this the next chapter in the life of Booker T Ceo

Tue, 07/03/2012 - 10:08 | 2583524 Totentänzerlied
Totentänzerlied's picture

Apparently not.

Tue, 07/03/2012 - 02:01 | 2582817 green888
green888's picture

Ask him one question "If the circumstances arose that he was ordered to fire on protesters, would he shoot ?" You are at the front of the protest

Tue, 07/03/2012 - 00:27 | 2582724 WhiskeyTangoFoxtrot
WhiskeyTangoFoxtrot's picture

Thanks for sharing. It's not that America that's not worth fighting for, per se, but joining the military to rush headlong into fighting for interests that undermine our freedoms. There are lots who will fight, but it won't be for the established interests. 

Tue, 07/03/2012 - 01:56 | 2582809 SomebodySpecial
SomebodySpecial's picture

Wait just a minute...if there was any time in the last 200 years that we need good people in the military...it is now.

The revolution will happen.

We will need the military to join in. It's our only hope!

For TPTB...just call it the fuck factor.

Tue, 07/03/2012 - 10:09 | 2583531 Totentänzerlied
Totentänzerlied's picture

Yes, that sentiment has worked so well for Egypt and every other place it's been tried in human history.

Tue, 07/03/2012 - 00:23 | 2582717 Cursive
Cursive's picture

@CvlBodb

Just have him google "Pat Tillman" or watch "The Tillman Story," a 2010 documentary.  Pat Tillman gave up everything in the service of his country and the military openly lied about the circumstances of his death by "friendly fire."

http://www.imdb.com/title/tt1568334/

Full disclosure:  I haven't seen the movie.  It also wouldn't hurt to have him google Blackwater, Halliburton + Iraq + logcap or Bechtel + Iraq + logcap

Tue, 07/03/2012 - 00:23 | 2582719 CrazyCooter
CrazyCooter's picture

Smedley Butler. War is a Racket.

If he is going to join to blow shit up and kill people, have him be a Marine. I did the Army, and with all respect to my fellow soldiers, Marines are the shit for a brotherhood in this department.

Look, the Rangers are bad ass. All the services have their special/elite groups. These men are way beyond what I did in the military. I got family that were Rangers. But I also got family that were Marines.

As a generalization, I served with Army and I didn't care for some of the ... quality. I also served with Marines. I was always impressed with their discipline, even for those who were not in combat MOS's.

My opinion for your family members is based on this perspective.

I don't think I am helping your situation though; just finding your family member the best pack of sheepdogs. And, well, lets face it, if you are gonna look for trouble, you want to be part of the best team around.

On that note, perhaps you should ruminesce on "On Sheep, Wolves, and Sheepdogs" by Dave Grossman. There is also a book, "On Killing".

Don't live someone else's life; think carefully. Be educated about violence and share knowledge about the honorable paths of a warrior in society. Before you live someone else's life, accept that you don't have to sleep with the outcome of their lives because they do and your happiness may very well be their hell. We need our (honest) cops, we need our troops; the world is a very brutal place.

I think the nature of my response demonstrates my understanding of the political nature of our military deployments, so spare me that line of rebuttal. Check your hippie at the door, be a brother, be family, but don't be a sheep on these matters. If you share all this reading material, and this family member looks you in the eye and volunteers, he will (hopefully) come home and help a lot of people in his community in his post military career. And that is something of which to be proud.

We need more sheep dogs in this world, that is for damn fucking sure.

Regards,

Cooter

Tue, 07/03/2012 - 00:31 | 2582730 CvlDobd
CvlDobd's picture

Thanks.

 

Your paragraph with the bold is well taken. Not trying to be a hippie or a sheep. I'm all for fighting and fucking some shit up if need be. I just can't see the point of our current "wars".

 

Thanks again.

Tue, 07/03/2012 - 00:57 | 2582757 Harry Dong
Tue, 07/03/2012 - 01:10 | 2582775 CrazyCooter
CrazyCooter's picture

Print the links (or buy the books). My words aren't worth so much on the subject.

Regards,

Cooter

Tue, 07/03/2012 - 01:53 | 2582808 horseman
horseman's picture

Just to add to your great recommendation, Gen Butler was a two star.  One of the most decorated marines ever, all for combat valor, not the campaign shit the officers get now.  Wrote the book after his retirement detailing the military/indus complex.  This was back in the 30's.  He'd probably be leading the revolution with the crap goin on now.

Tue, 07/03/2012 - 01:31 | 2582751 tbd108
tbd108's picture

Have him read "Johnny Got His Gun." This is perhaps the most powerful personal anti-war book written in modern times. Many a young man, following reading it, said "screw you" to the people that want to send him off to war so that their investments in foreign lands do well.

Tue, 07/03/2012 - 02:56 | 2582856 lemonobrien
lemonobrien's picture

live by the sword, die by the sword.

Tue, 07/03/2012 - 00:07 | 2582684 Cursive
Cursive's picture

@Crazy Cooter

Try this link:  http://forum.marie-antoinette.org/viewtopic.php?f=4&t=1305

It seems to make sense. The duc was always in the right place at the right time. He actively whipped the crowds up into mob frenzy. It appears that he deliberately caused the bread riots by buying up all the grain and starving the city of Paris. After the riots, wagons full of spoiled flour were dumped in the Seine because they had been held in storage so long.

Sadly for the duc, he ended up going to the guillotine himself during the Reign of Terror.

For more conspiracy, check this out: http://www.bibliotecapleyades.net/sociopolitica/templars/knights_templars03.htm

In the spring and summer of 1789, an artificial shortage of grain was created by Illuminist manipulations of the grain market. This produced a famine so intense that it brought the nation to the edge of revolt. One of the leading figures in this scheme was the Duc d'Orleans, the Grand Master of the Grand Orient lodges.

Tue, 07/03/2012 - 05:11 | 2582941 Disenchanted
Disenchanted's picture

 

 

Ukraine in the 1930s? But there I don't think Stalin was dumping, he was storing the grain. 

 

Not Europe, but maybe the Bengal famine of 1943??

 

If I remember correctly there was also some crop dumping here in the USA in The Great Depression times...

Mon, 07/02/2012 - 23:50 | 2582664 ghengis86
ghengis86's picture

The essential English leadership secret does not depend on particular intelligence. Rather, it depends on a remarkably stupid thick-headedness. The English follow the principle that when one lies, one should lie big, and stick to it. They keep up their lies, even at the risk of looking ridiculous

-Goebbels

Tue, 07/03/2012 - 01:55 | 2582810 Bringin It
Bringin It's picture

Hence their Iraq War inquiry.  Their Kelly weapons inspector guy turned whistle blower who suicided himself with electodes implanted in his chest inquiry. 

The UK part of the axis has great expertice with white wash. 

Tue, 07/03/2012 - 02:11 | 2582824 putaipan
putaipan's picture

see you all at the diamond hosted fundraiser for romney....i shit you not!

Tue, 07/03/2012 - 06:29 | 2582978 Acet
Acet's picture

I've been living in England for a couple of years and this society has some serious problems.

There is a deeply entrenched, very calcified social division from cradle to grave, with the locals being extremelly sensitive to finding out a person's social position (by the accent, general looks, posture and way of dressing) and things like "old-boys-networks" of contacts being formed between pupils of "private schools" (which then persist throught their lifes: for example all main party leaders in the UK went to Eton) which tie politics to big-corp management.

Then there is this whole English way of interacting with others, especially at the higher social status levels, which to pretty much everybody else in the world just sounds like hypocrisy: to put it simply, the typical Englishman is not at all a straight talker, quite the contrary, they don't say anything that might sound critical and will give compliment to things that are not worthy of compliment (it's the only place in the world were saying "that was nice" means "that was bad" and "that was good" can just as well mean "that wasn't good" - in fact, "excelent" and "wonderfull" might just mean the same as "good" somewhere else, though sometimes they're just being polite).

In other words, hypocrisy is the way of relating to others, especially in the middle-class and higher social levels.

All this is reinforced in school here, were they practice the whole "everybody is a unique flower and should only be given positive feedback" style of education. 

This is not just my opinion, I've heard things like "this is a sick society" from both other emigrants and from Englishmen that lived many years in other countries.

 

Tue, 07/03/2012 - 06:37 | 2582990 LULZBank
LULZBank's picture

Here you go:

http://bridgesandtangents.files.wordpress.com/2012/02/english1.jpg

Would help you communicate better and understand English (people).

Tue, 07/03/2012 - 06:53 | 2583013 overmedicatedun...
overmedicatedundersexed's picture

free corzine, free diamond, free Agius  the list is too f'n long.

Tue, 07/03/2012 - 04:02 | 2582901 tooktheredpill
tooktheredpill's picture

oooo I bet that guy at the FSA is scared.

Tue, 07/03/2012 - 09:41 | 2583410 roadhazard
roadhazard's picture

I have seen the "stack" phenomena in Politics starting with Dubya. When caught in a lie, immediately tell two more. Bankers probably taught them the trick since our system is owned by the banks.

Mon, 07/02/2012 - 23:04 | 2582575 zorba THE GREEK
zorba THE GREEK's picture

To reiterate what I posted earlier tonight, there is nothing wrong with the U.S.A.

that 100,000 feet of strong rope couldn't cure. 

Tue, 07/03/2012 - 04:55 | 2582934 CharlieSDT
CharlieSDT's picture

Put them all in a bag, then when you hit the bag you always know you're hitting the right one.

Tue, 07/03/2012 - 03:12 | 2582864 green888
green888's picture

He has resigned

Mon, 07/02/2012 - 23:33 | 2582631 philipat
philipat's picture

"No honour amongst thieves" comes to mind? If the truth all comes out, I'll be breaking out a bottle of Krug. Man.

Tue, 07/03/2012 - 00:42 | 2582739 iinthesky
iinthesky's picture

Just in case:

Five of the biggest banks in the United States are putting finishing touches on plans for going out of business as part of government-mandated contingency planning that could push them to untangle their complex operations.

http://www.reuters.com/article/2012/06/27/us-banks-bailouts-wills-idUSBRE85Q0AZ20120627

Tue, 07/03/2012 - 01:52 | 2582807 rocker
rocker's picture

That's some pretty heavy stuff iinthesky.  I would have guessed on MS, BAC, C, LM, and possibly JPM.

But hey, let the pillars fall where they should. Most people with money in bank accounts do not understand.

Most, (better than 50% of U.S. banks are insolvent.  Hello America. Wake Up.

Tue, 07/03/2012 - 05:21 | 2582943 Disenchanted
Disenchanted's picture

 

 

 

from your link:

 

The regulators will want to see evidence that the banks can safely resolve their debts and transfer vital customer services and assets to healthy institutions.

 

= return seed money to origin = "The City"

Tue, 07/03/2012 - 01:14 | 2582779 greenbear
greenbear's picture

What do Barclays, Blackrock, and JPMorgan all have in common? 

http://www.youtube.com/watch?v=v6hRnvAWazo

Tue, 07/03/2012 - 04:42 | 2582928 tooktheredpill
tooktheredpill's picture

wow, he has gone! This is a good show.

Mon, 07/02/2012 - 22:45 | 2582532 Seasmoke
Seasmoke's picture

well there may be some fireworks in the UK on July 4th

Mon, 07/02/2012 - 22:48 | 2582537 Manthong
Manthong's picture

Might be his car.

Mon, 07/02/2012 - 22:46 | 2582534 Beevreetr
Beevreetr's picture

Finally some truth, maybe.

Mon, 07/02/2012 - 22:52 | 2582551 Unprepared
Unprepared's picture

Nah, I'm sure someone will wake up next morning with his horse's head under his bed sheet.

Mon, 07/02/2012 - 23:09 | 2582587 Rogier
Rogier's picture

Yup, the truth being that the FSA is as dodgy as the SEC. So what else is new?

Tue, 07/03/2012 - 02:03 | 2582820 Bringin It
Bringin It's picture

Rojier - you got a down arrow!

Tue, 07/03/2012 - 05:54 | 2582959 boiow
boiow's picture

excuse me sonny.  i believe you have something belonging to me.  and i was here first.

Mon, 07/02/2012 - 22:49 | 2582543 Bansters-in-my-...
Bansters-in-my- feces's picture

More Cowbell...!!!

And hanging rope.

Mon, 07/02/2012 - 22:49 | 2582544 catch edge ghost
catch edge ghost's picture

Everybody's dirty, nobody talks. Particularly when the nobody was set up. Dude better stay out of small airplanes.

Mon, 07/02/2012 - 22:57 | 2582561 ziggy59
ziggy59's picture

..and hotel rooms, pools, jogging, etc.. He better learn to fast long term, like for years, too.

Tue, 07/03/2012 - 02:00 | 2582816 Max UK
Max UK's picture

Who'd better stay out of airplanes, Bob Diamond?

He has no worries, he is part of the ruling cartel! Note that at no time, NO TIME, has any journalist or politician, even mentioned the possibility of prison. They know that he is untouchable. The pathetic Cameron just mumbles that he is shocked, shocked! and that Diamond will have some pretty tough questions to answer (to somebody or other). 

The Barclays chairman opted to be the sacrificial goat for Diamond, by resigning, saying 'the buck stops with me'. This is that arrogance of power, 'the buck stops with me' but knowing that there will be no consequence, and no prison.  

I am amazed that the Libor story ever came to light, so there is either disagreement within the cartel, else there is a glimmer of resistance somewhere in the establishment.

On a point of humour, Diamond's position quickly went from 'I knew nothing about this' to 'It was a misunderstanding between us and the Bank of England, we thought they wanted us to do it.' Who is us? Was it the result of a misunderstanding between lowly clerks from each organisation who met each other at Pizza Hut? No, it was Diamond himself. His first response was a lie, his second response was blackmail. 

Mon, 07/02/2012 - 22:50 | 2582545 ZH11
ZH11's picture

Be terrible if he was invoved in an accident between now and the commencement of the parliamentary inquest wouldn't it?

He's bluffing and if knows what's good for him he'll resign in the next few weeks, take the pension, share option, long notice period and honourable dischage from the top job knowing he'll be allowed back into the game in a year or two after a nice long break to allow everyone to forget about this and start to concrentrate on the next huge scandal.

Might even be a nice job on the MPC at the BoE by the time he comes back.

 

 

Mon, 07/02/2012 - 23:45 | 2582652 slewie the pi-rat
slewie the pi-rat's picture

what will he say?

when will he say it?

Tue, 07/03/2012 - 00:10 | 2582694 DollarMenu
DollarMenu's picture

"The Black Swan is on the Wing":

http://www.youtube.com/watch?v=JqgDzEqdvb0

Tue, 07/03/2012 - 01:35 | 2582799 Yen Cross
Yen Cross's picture

 Did you ever see the Flic. (Waiting)?

Mon, 07/02/2012 - 22:50 | 2582546 NetDamage
NetDamage's picture

He will be found dead with 4 bullets in the head and a suicide note before he goes on official record.

Mon, 07/02/2012 - 23:00 | 2582569 algol_dog
algol_dog's picture

Nah, way too obvious. More likely a heart attack, with an "official" autopsy showing clogged arteries and the like ...

Mon, 07/02/2012 - 23:26 | 2582619 porkdrippingsle...
porkdrippingsleavestains's picture

I don't think so anymore.  These fucks may be clowns but me thinks they are past the point of no return.  Time to play for keeps.

Mon, 07/02/2012 - 22:59 | 2582559 vincent
vincent's picture

Be patient friends.

It took me awhile to realize that these fucks had already graduated from simple criminals to racketeers.

Our Irish brothers and sisters are currently waking up more and more of the comatose.

This is gonna get good....and fast.

Be thankful for the additional time to prepare.

Mon, 07/02/2012 - 23:45 | 2582653 sablya
sablya's picture

I've been patient and patient and patient.  I'm ready to take up arms against this sea of pestilence.  How I want to see heads roll, and the blood to flow high!!  Those monsters have had all the time in the world to prepare as well.  HOW MANY bankers have resigned over the past 12 months.  So many have tried to flee the wrath to come but they must be systematically hunted down and decapitated for the devastation they've wrought to the lives of our children.  While they've stolen the lives of our children they've lived in comfort and laughed at the stupidity of the people.  They think they've gotten away with it.  That dog Marcus Agius thinks he can say "sorry" and walk away with his millions of illicit gain.  FUCK NO ASSHOLE.

Tue, 07/03/2012 - 00:22 | 2582715 sablya
sablya's picture
611 BANKER RESIGNATIONS from 9/01/11 to 4/22/12

Why are so many bankers resigning? 


Tue, 07/03/2012 - 00:33 | 2582734 salvadordaly
salvadordaly's picture

Let me know if any of them down in the gulf coast region of texas!

Tue, 07/03/2012 - 01:56 | 2582811 rocker
rocker's picture

Geezzzzz, I thought they bred them in Texas.  Do you know Fisher?  Eh.  Hint: Member of the Bernanke Cartel.

Mon, 07/02/2012 - 22:59 | 2582566 flyme
flyme's picture

Awesome, Barclaygate.

 

Mon, 07/02/2012 - 23:03 | 2582573 El Oregonian
El Oregonian's picture

And the truth shall set you free... er, set you to prison, you bankster bastards...

Mon, 07/02/2012 - 23:10 | 2582580 Rogier
Rogier's picture

Wow, it took ZH just 5 hours to copy this from the FT. I'm impressed, job well done!

Mon, 07/02/2012 - 23:18 | 2582602 BoNeSxxx
BoNeSxxx's picture

And you feel like ZH owes you speedier delivery of the news in return for all your membership dues?

Don't let the door hit your ass on the way out...

Bub-eye!

Mon, 07/02/2012 - 23:25 | 2582617 Rogier
Rogier's picture

I'm ever so sorry for pointing out that 5 hours for a copy paste job is truly unworthy of ZH (and in the process showing you there just might be other sources worthwile your time of day). Ever so sorry my freaky friend!

Mon, 07/02/2012 - 23:35 | 2582635 i_call_you_my_base
i_call_you_my_base's picture

Their are other webcites on the internets?!?!? You musta done gone to one of them fancy hischools! Shoooweee!

Tue, 07/03/2012 - 00:38 | 2582738 salvadordaly
salvadordaly's picture

Wow I don't have time in the day to read every website out there like FT. That's why I come to ZH to get caught up on news from all over the world @ one place. Saves me time in the day to do things like, I don't know, work?

Mon, 07/02/2012 - 23:06 | 2582581 HaroldWang
HaroldWang's picture

Seriously, nobody cares about this. Yes, they should but if it doesn't have "Greece" or "ESM" or "QE" in the title nobody ares. Old scandal, old news. 

Proof? All European markets bright green today; Asia bright green; and US futures up again. Only people that care and/or understand this, are on this site or a few scant other blogs. As for everyone else, sweep it under the rug.

Mon, 07/02/2012 - 23:07 | 2582583 Glasnost
Glasnost's picture

Regulator's thoughts:  "Oops."

Mon, 07/02/2012 - 23:09 | 2582588 loveyajimbo
loveyajimbo's picture

I doubt if the truth ever gets out... look at Cheney's 911 attacks... some imbeciles still think it was a gang of smelly ragheads operating on their own... and Building 7 collapsed due to... an earthquake.  And planes really do vaporize at impact... and steel really does melt in diesel fires... long time ago guys, but it was the beginning of the end.

Mon, 07/02/2012 - 23:11 | 2582592 Glasnost
Glasnost's picture

And passports don't burn up.

Tue, 07/03/2012 - 00:43 | 2582741 salvadordaly
salvadordaly's picture

and guy's with explosives in their under wear get escorts through security in airports by men in suits! And the FBI keeps catching people with bombs that they gave them, ready to attack American targets, really weird shit?

Tue, 07/03/2012 - 00:14 | 2582705 you enjoy myself
you enjoy myself's picture

keep f'ing that chicken loveyajimbo. 

Mon, 07/02/2012 - 23:12 | 2582594 Yen Cross
Yen Cross's picture

 So B.Diamond is going to expose the disgusting " Symbiotic Relationships" , Between Bankers and their Sovereign Overlords?

  Good luck on that one Bob! Just make sure you speak to Kneel, before you Bob!

Mon, 07/02/2012 - 23:14 | 2582597 bnbdnb
bnbdnb's picture

There goes the EPL!

Mon, 07/02/2012 - 23:16 | 2582600 caconhma
caconhma's picture

I expect Bob Diamond (Barclays CEO) will be dead in 1-2 weeks. He talks too much and has a very big mouth.

Mon, 07/02/2012 - 23:30 | 2582623 vincent
vincent's picture

LIBOR...Who da thunk?

Here in Mayberry we're exposing BNYMellon and State Street for skimming pension money...for 40 effing years.

Currency trades.

All you can do is laugh.

Mon, 07/02/2012 - 23:43 | 2582647 Yen Cross
Yen Cross's picture

 Thanks for the reminder Vincent. BNY Mellon did get tagged for not giving "best offer" exchange rates on their managed F/X accounts!

  Nice work.

Mon, 07/02/2012 - 23:29 | 2582625 jonjon831983
jonjon831983's picture

Not playing by the rules eh? Not falling into line?

 

Oh, just saw a post above by caconhma.  That's what I was getting at.

Mon, 07/02/2012 - 23:32 | 2582629 peekcrackers
peekcrackers's picture

It was pretty much a blowing contest amongst the congressmen on Jammie  at the JPM hearing.

whats the deal with shit head Corzine ?? Is the fuckers face on the back of milk cartons ?? Just fades off into the sun set ??

Lets see were this goes.

Mon, 07/02/2012 - 23:32 | 2582630 monopoly
monopoly's picture

"if the truth was ever allowed out into the public eye.'" Truth, HA HA. LOL, Right, allowed. Oh my, LMAO. Yes sir. Any minute now the truth will be told.

What a fucking joke this planet is.

Tue, 07/03/2012 - 01:51 | 2582632 jomama
jomama's picture

the fraud is systemic and so flagrantly fucking obvious to any amateur paying attention.

these vermin hold the global population hostage by holding guns to each other's heads.

this will not end well.  the floor will fall out from under one of them sooner than later.

a roll of silver eagles to anyone who knows that date.

Tue, 07/03/2012 - 05:07 | 2582938 Skateboarder
Skateboarder's picture

Sometime in the 2020s. Things are gonna get real fucking bad and a lot of people are gonna peace it off this planet before we see any new system arise. It's only been, what, 40-50 years of mechanized food, and most people have no fucking idea how food is made anymore. These vermin are here to stay - it's their board game and they already got dibs on the entire board. It would be nice to hope for a new system that is actually in tune with living, loving, playing, and working as a human being, but that ship has long sailed, and I don't think a collapse, let alone any other event, will set us free. It's the future man - technology has made its voice heard loud and clear. The age of the human, we are leaving behind - the age of the robot is now. You gotta be a robot to be a player in this game, son, and if you aint, you gonna get what's comin to ya.

Mon, 07/02/2012 - 23:41 | 2582643 Freebird
Freebird's picture

There's no pain just an empty sick feeling in the stomach as it all comes out, week by week, month by month, year by year. Relentless. The pipers & their owners need to be paid. Good night Bitchez.

Mon, 07/02/2012 - 23:45 | 2582649 JackT
JackT's picture

Hope he doesn't end up hanging himself like the Japanese fella who blew the whitsle on China/NK dealings.

Mon, 07/02/2012 - 23:58 | 2582676 alien-IQ
alien-IQ's picture

Roberto Calvi comes to mind.

Mon, 07/02/2012 - 23:45 | 2582654 GMadScientist
GMadScientist's picture

Mr. Diamond, if that is your real name, and not just some street moniker you use when pimping young girls in Piccadilly Circus, I heartily commend you on "fighting the law".

Please do continue.

 

Mon, 07/02/2012 - 23:53 | 2582667 mharry
mharry's picture

I was told Libor was a lie 8 years ago, by a guy refinancing my home,what took so long?

Tue, 07/03/2012 - 00:03 | 2582685 Yen Cross
Yen Cross's picture

 _ 0%,  down 120-135% LTV (atm equity lines)  ...

Mon, 07/02/2012 - 23:55 | 2582673 sablya
sablya's picture

What are the chances we will get another Lehman Brothers event in the near future?? 

Tue, 07/03/2012 - 00:13 | 2582693 Yen Cross
Yen Cross's picture

 It will stem from off shore, probably BRIC,s (emerging economies). No one pays attention to South America.

 

     Short Term Fed Bond(note), yields are edging up. China has been (banding) the midrate usd/cyn higher recently.

 If you follow the dxy, the gbp and aud are not properly weighted. (albeit Merve the Swerve will inject 75b) this week.

  The ecb move is priced in, via Merkels tape bomb Friday.

Tue, 07/03/2012 - 00:05 | 2582688 holdbuysell
holdbuysell's picture

"perhaps it is worth a glance at the current levels of Lie-bor (especially relative to EUREPO and CDS curves) to get a sense of just what could happen if the truth was ever allowed out into the public eye."

What is the necessary adjustment to bring LIBOR in line and how does this translate vis a vis the DV01 for IRS?

Tue, 07/03/2012 - 00:22 | 2582716 Yen Cross
Yen Cross's picture

 I'll probably sell the fact, on this RBA hold, coming up in 10 minutes time. Massive resistance @ 1.03 and a very stretched 4hour sar line. Illiquid markets, and bad risk reward on the Fibi.

Tue, 07/03/2012 - 00:23 | 2582718 justsayin2u
justsayin2u's picture

Time for everyone to be granted immunity from prosecution combined with golden parachutes and commitments to never disclose anything.  Problem solved.  I hear Michelle is outraged that some schools conside a pop tart as acceptable breakfast food.

Tue, 07/03/2012 - 00:44 | 2582742 printmoremoney
printmoremoney's picture

Black Swan enters the Pond for a swim? LieBor could get poopie flowing. Liars calling Liars out in public. This could lead to FEAR. What are they afraid of? Whatever it is, it needs to be rolled out in force on top of their heads so this Ponzi collapses.

 

Tue, 07/03/2012 - 00:44 | 2582743 OneTinSoldier66
OneTinSoldier66's picture

After reading all the comments I feel I may have come up with a new business to open.

 

Bankster Bail Bondsman: Gold Only Accepted as Collateral

 

Well, it would be a good business model if I got the feeling that jail time was acceptable punishment.

Tue, 07/03/2012 - 01:04 | 2582770 mharry
mharry's picture

Yeah, it's that last part that is the problem. They don't deserve the niceties of jail.

Tue, 07/03/2012 - 00:53 | 2582753 Temporalist
Temporalist's picture

Found this CNBC clip discussing LIBOR and silver manipulation on harveyorgan.blogspot.com via gata.org via silverdoctors.com:

Chris Whalen on Squawk Box

http://www.silverdoctors.com/cnbc-host-states-tbtf-banks-are-manipulatin...

Tue, 07/03/2012 - 00:58 | 2582759 Bunga Bunga
Bunga Bunga's picture

Don't worry, they won't throw the City under the bus.

Tue, 07/03/2012 - 01:17 | 2582781 Yen Cross
Yen Cross's picture

 Throw the bus / on top of the rubble pile, then charge for it!  Then you rename it Metro /Transport or Subway?                                                        

                                                                                                     

Tue, 07/03/2012 - 01:14 | 2582778 markar
markar's picture

Diamond is displaying  classic behavior of a narcissistic sociopath--the fundamental qualification for a TBTF bank CEO

Tue, 07/03/2012 - 01:25 | 2582787 world_debt_slave
world_debt_slave's picture

a tinderbox I tell you, a friggin' tinderbox

Tue, 07/03/2012 - 02:25 | 2582834 twocents
twocents's picture

Cornered rats can be dangerous, especially when wounded and frightened! Obviously guilty.

Tue, 07/03/2012 - 02:29 | 2582837 dcb
dcb's picture

well, in a real justice sustem he should be brought in front of a court and forced to say what he knows to a jury. let the elected sociopaths fight the banker sociopaths.  if we are lucky they willl kill each other.

Tue, 07/03/2012 - 02:34 | 2582840 persu
persu's picture

This popcorn joke is getting tired. How many times has someone anticipated the end of the world here.....

Tue, 07/03/2012 - 02:39 | 2582845 KrugerrandFan
KrugerrandFan's picture

Bob has just taken the bullet!

Tue, 07/03/2012 - 02:43 | 2582847 jmcadg
jmcadg's picture

Bob Diamond has showed complete ineptness thus far.

Not as good as his US counterparts at manipulation, fraud, lying (add in anything else you like that fits).

So now we are to believe he's going to 'spill the beans'. He's fuckin' useless, watch him even mess this up.

It won't happen, Diamond is a loser in a peergroup of tossers. How he sleeps at night, I don't know. Is he still married .... what she admits to being his wife, now I'm shocked.

Come on Bob, prove me wrong, go on, seriously prove me wrong. I would love to see an 'A Few Good Men' moment.

Tue, 07/03/2012 - 02:44 | 2582848 ripper
Tue, 07/03/2012 - 02:52 | 2582852 DCon
DCon's picture

Diamond has quit. Starting immediately

 

Where's my "Short Barclays" trade button?

 

Tue, 07/03/2012 - 02:52 | 2582853 denny69
denny69's picture

Sure didn't seem to me that Jamie Dimon suffered through much discomfit during his recent congressional hearing. Oh, yeah, he may have been inconvenienced dealing with all the praise from the committee, especially the scumbag from the district in Alabama housing Birmingham and we all know what JP Morgan did there. The guy from Oregon, Merkely, was the only one on that committee with any balls at all. 

Tue, 07/03/2012 - 02:54 | 2582855 BBullionaire
BBullionaire's picture

BREAKING NEWS:  Bob's Resigned

 

http://bulletsbeansandbullion.blogspot.co.uk/

Tue, 07/03/2012 - 03:05 | 2582859 Dull Which
Dull Which's picture

Bob just fell on his sword and quit - no doubt headed to sunny climes

Tue, 07/03/2012 - 03:08 | 2582861 jmcadg
jmcadg's picture

FUCKIN' COP OUT.

Anything to not have to tell the true.

TOTAL COVER UP.

Tue, 07/03/2012 - 03:21 | 2582865 vincent
vincent's picture

Looks like the racketeers made him an offer he could'nt refuse.

Agius returns.

What is the CSPAN equivalent in the UK?

Could be good TV

 

 

Tue, 07/03/2012 - 03:21 | 2582870 genr8n
genr8n's picture

Diamo now threatens to EXPOSE those at BoE that knew well that the Barclays Lie-Bor was BS. Claims that senior BoE knobs were in on the act at the height of the crisis.  Cuts deep....pass the pop corn...

Tue, 07/03/2012 - 03:33 | 2582871 Coldfire
Coldfire's picture

Bob Diamond resigned citing 'external pressure reaching a level that risked damaging franchise'. I've got news for Diamond Bob: the damage is done.

Tue, 07/03/2012 - 03:25 | 2582874 pufferfish
pufferfish's picture

The old lady has spoken. It's not like thread needle street to let things unravel.

Bob has resigned.

http://www.bbc.co.uk/news/business-18685040#TWEET167910

Tue, 07/03/2012 - 03:32 | 2582876 Rock the Casbah
Rock the Casbah's picture

Don't be surprised if Diamond's threat works.

Tue, 07/03/2012 - 03:32 | 2582877 genr8n
Tue, 07/03/2012 - 03:35 | 2582880 EasterBunny
EasterBunny's picture

The way Libor is calculated (a group of banks submitting a number) reminds me of the even less sophisticated way that the London gold price is fixed (3 parties agreeing on a rate). What a crock!!!!

Tue, 07/03/2012 - 03:36 | 2582881 genr8n
genr8n's picture

He'd better brush up on his speaches .....like ... You want the truth, you cant handle the truth... www.youtube.com/watch?v=5j2F4VcBmeo

Tue, 07/03/2012 - 03:39 | 2582884 OhOh
OhOh's picture

He should be taken into custody and his passport held

Tue, 07/03/2012 - 03:51 | 2582891 BBullionaire
Tue, 07/03/2012 - 03:55 | 2582894 LULZBank
LULZBank's picture

What a great loss! Today the banking world was lost one of its most inept and uselss scum.

Tue, 07/03/2012 - 04:07 | 2582897 NuYawkFrankie
NuYawkFrankie's picture

Diamond threatens to reveal all?

 

I don't think so - I  reckon this dog's BARK-lay will prove to be a lot worse than his BITE-lay

Tue, 07/03/2012 - 06:15 | 2582964 breakin'wind
breakin'wind's picture

Seems to me that now he has made the threat, it is obligatory that he is put to the proof in open hearing - else - the horror! - the inquiries will lack cred, Cameron will have to go and the UK will be Milibanded back to the dark ages... 

Tue, 07/03/2012 - 04:10 | 2582906 LULZBank
LULZBank's picture

The dominoes seem to be jumping the sequence. UK could go before France.

Any info on why Mr Diemond throwing toys out of the pram rather than playing the usual bankster line "nobody saw this coming" or blaming it on some rogue "al ciada" traders?

Tue, 07/03/2012 - 04:47 | 2582929 falak pema
falak pema's picture

lol, the big domino being USA... home of all the libertarian neo-cons, fathers of this ponzi.

I know the theorists see red when you associate "neo-con" with "libertarian", but as we are talking about Government/regulatory COLLUSION of immense magnitude with the banking oligarchs; scions of supply side deregulation and main beneficiaries of Big Bang Pious Papal Capitalista bull issued conjointly by Maggie and Ronny;  behind the theoretical platitudes lie the real power attitudes which make for financial and political play of the last thirty years of Pax Americana Oligarchy rule. Not just in banking but in the THREE main axes of global power : monetary, MIC and Energy; now to include basic food and water as these will become more and more precious with economic attrition and population explosion.

WHen the surrogates fall the Emperor is seen as totally naked...and the USD comes under the fire of world ire. 

That is when financial armageddon gets red hot in this global confrontation in the making down the road. Counting the dominoes fall will be a side show; like Cambodia in past Vietnam war, like Afghan in regional ME reset, now going hay wire. 

Tue, 07/03/2012 - 05:10 | 2582939 LULZBank
LULZBank's picture

Irony is, people are waiting for NWO to take force without realising they have been living in it for past few decades. Media has portrayed a very cosy and friendly picture of it, not at all like those manglomaniac villains of the Hollywood movies, who want to rule the world.

Even more ironic is when British Agent 007 is fighting against evil characters seeking global domination.

While US citizens are waiting for John McClane or Rambo to turn up and save the day.

Tue, 07/03/2012 - 06:18 | 2582970 breakin'wind
breakin'wind's picture

BOE is clearly in it up to Mervyn's untidy little cravat

Tue, 07/03/2012 - 04:16 | 2582912 Don Diego
Don Diego's picture

Is Diamond a member of the Tribe? plenty of diamond dealers in that sect, especially in Amsterdam. If so, he is safe from prosecution.

Tue, 07/03/2012 - 04:29 | 2582917 youngandhealthy
youngandhealthy's picture

Now it just one Dimond to go. The moron on the other side of the pond

Tue, 07/03/2012 - 04:23 | 2582919 luckylongshot
luckylongshot's picture

Trying to intimidate his way out of trouble is a bit primative, even for a bankster.

Tue, 07/03/2012 - 05:31 | 2582924 NuYawkFrankie
NuYawkFrankie's picture

What's the world coming to?

 

Shirley they coulda found some Nick Leeson type - in the quant dept. or somewhere - to take the rap and subsequently, riding his moped on his way to testify, suffer a fatal collision with a milk-float?

Tue, 07/03/2012 - 04:54 | 2582933 falak pema
Tue, 07/03/2012 - 05:16 | 2582942 breakin'wind
breakin'wind's picture

I wonder if the subject of Lehman Bros will be broached at these inquiries - I seem to recall that Barclays managed, as a result of its supposed "strength", to pick up the odd bargain or two in the firesales out of that debacle. Promply followed as I recall by a permanent place in the disorderly queue for nank donated fed funds.... Seems like the strengthometer might just have been a bit shall we say "rigged" by both the bank and by the BOE 

Until the vile entente cordiale between banks central banks and state is dismantled, this will run and run.

Tue, 07/03/2012 - 06:16 | 2582966 Monedas
Monedas's picture

"Yep, yep!  He's a Jew !        Yep ! Yep !  He's a Jew !"  .... Gaspare (Gaspar) Graffeo 1893-1978       Monedas    1929          Comedy Jihad World Tour

Tue, 07/03/2012 - 06:28 | 2582977 I am Jobe
I am Jobe's picture

Shocking I say, Shocking. Ok, now that is over, are there enough ropes to hang the bastards and their families. Screw the court hearings and lawyers. Useless , sppedy execution is what is needed at this point.

 

Tue, 07/03/2012 - 06:38 | 2582986 Benjamin Glutton
Benjamin Glutton's picture

Adair Turner of FSA speaking this morning.

 

 

"The LIBOR scandal has caused a huge blow to the reputation of the banking industry. The cynical greed of traders asking their colleagues to falsify their LIBOR submissions so that they could make bigger profits – has justifiably shocked and angered people, in particular when we are facing hard economic times provoked by the financial crisis. But sadly it is clear that the behaviours evidenced in the LIBOR case were not, in the years before the crisis, confined to this specific area of financial activity. Documents such as the U.S. government’s Financial Crisis Inquiry Report and the Senate report on Wall Street and the Financial Crisis, or indeed Michael Lewis’s insightful account of “The Big Short” have revealed, for instance, a cynical willingness of many traders to sell securities whose value they doubted to customers whose judgments they disparaged. And too much of what is described in the investment banking world as “creative” or “innovative” , is not creative or innovative on behalf of the real economy, but devoted to tax structures which simply shift money from the generality of taxpayers to the financial sector, to regulatory arbitrage which seeks to gain an improved regulatory treatment of unchanged economic substance, or to accounting devices which attempt to put a favourable gloss on the underlying situation of firms or their clients, for instance understating a country’s true level of debt.

"There is therefore a major challenge for the investment banking industry and related areas of finance: how to rededicate their business to a focus on fundamental economic functions – raising capital for companies creating real wealth, managing customer risks rather than creating new risks to bet against, and how to purge the industry of the culture of cynical entitlement which was far too prevalent before the crisis. These issues should, I believe, be a major area of focus for investigation by the committee of both Houses of Parliament that was announced by the Chancellor yesterday.

"These issues relate to what we label “wholesale” rather than “retail” conduct. And it’s fair to say that in the past the FSA has tended to a somewhat “caveat emptor” approach to wholesale conduct issues. After all, the logic went, we’re dealing here with relationships between professional counterparties, or at least between banks and large institutional or large corporate clients, which ought to be able to make their own judgments. But as we have discussed the regulatory approach for the FCA, we have found we need to consider how far that caveat emptor approach is sufficient. An insurance company or pension funds may be itself a large institution, but sitting behind the company or pension fund are retail investors: and any poor practice which unreasonably shifts income to the industry is at the expense of some end retail customer. There are no free lunches, and shoddy wholesale practice is not a victimless act, even in those cases where it is not defined as a crime. We will therefore need to think carefully how far we should shift our past approach to the supervision of wholesale conduct, and what resources and skills we need to be more effective in this area. This is an issue currently under discussion between the executive and the Board, and one on which we will comment in the FCA approach document which we will publish in autumn.

 

http://www.mortgageintroducer.com/mortgages/243727/4/Daily_news/FSA:_Ban...

Tue, 07/03/2012 - 07:50 | 2583121 Downtoolong
Downtoolong's picture

Bob has gone all Mutually Assured Destruction with confrontational tactics that could further aggravate the fraught relations between the bank and the authorities. "If he is attacked, he will fight back"

Just say when. I get dibs on the book and movie rights.

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