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Live Webcast Of Bob Diamond Testimony On Lieborgate
UPDATE: *BARCLAYS SAYS HAS RECORDING OF DIAMOND, TUCKER CALL, SKY SAYS
We suspect the Treasury Select Committee hearing with Barclays ex-CEO Bob Diamond will have a few more fireworks than Jamie Dimon's congressional hearings. The Chairman of the committee noted "This is the most damaging scam I can recall" as the goal of the hearing is to ensure "the public know what went wrong and whether the perpetrators have been rooted out." While we will have our own fireworks on this side of the pond, we suspect the live stream below will contain more than a few as the independence of Libor remains in question.
Meeting details
Wednesday 4 July 2012, 2.00pm (9am ET), Wilson Room, Portcullis House
Witnesses
Bob Diamond
Commenting on the evidence session, the Chairman of the Treasury Select Committee, Andrew Tyrie MP, said:
"The Libor interest rate benchmark - crucial to transactions right across the economy and affecting millions of people - was systematically rigged over a period of years.
It appears that many banks were involved and Barclays were the first to own up.
This is the most damaging scam I can recall.
The reputation of Britain's financial services industry has been severely tarnished, albeit unfairly for the overwhelming majority unconnected with the scam.
The public's trust in banks has been even further eroded.
Restoring the reputational damage must begin immediately.
Parliament and the public need to know what went wrong and whether the perpetrators have been rooted out. We also need to be given confidence that this has been put right."
Live Stream Here:
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"Off with thier heads" (bitchezz)
You know "the time" is near when the wide world of finance resembles a soap opera.
The time is NOW.
A little history lesson is fitting, because if you go back far enough, it all fits. Banks, Wars, innovation, Lying, boring.... and no one says it better than James Burke...
ori
un-in-tended-con-sequences
The Occupy Wall Street Movement has hired a team of researchers to carry out an extensive investigation to get to the bottom of this scandal. The team carried out an analysis of libor fixings going back over a number of years, and they have now come to the unanimous conclusion that this could have been prevented if the libor fixings had simply been mandated by the state, instead of a few selected investment banks. The reasoning behind this proposal is that while Corporations are motivated by profit and personal gain, government regulators are motivated by solid principles and a selfless commitment to virtue.
LOL.
Like anything meaningful will come of these hearings. We can dream of truth and virtue, but reality is sobering.
At some point, these corrupt parasites will start being assassinated by each other.
Rilo Kiley - "It's a hit"
Any chimp can play human for a day.
Use his opposable thumbs to iron his uniform
and run for office on election day
fancy himself a real decision maker
and deploy more troops than salt in a shaker.
But it's a jungle when war is made,
and you'll panic and throw your own shit at the enemy.
The camera pulls back to reveal your true identity.
Look, it's a sheep in wolf's clothing.
A smoking gun holding ape.
Any asshole can open up a museum.
Put all of the things he loves on display
so everyone could see them.
The house, a car, a thoughtful wife
ordinary moments in his ordinary life.
But if she breaks a smile, she'll give you away
'cause no one wants to pay to see your happiness.
No one wants to pay to see your day to day
and I'm not buying it either
but I'll try selling it anyway.
Any idiot can play Greek for a day
and join a sorority or write a tragedy
and articulating all that pain
and maybe you'll get paid.
But it's a sin when success complains,
and your writers block-it don't mean shit.
Just throw it against the wall and see what sticks.
Gotta write a hit
I think this is it.
It's a hit.
And if it's not,
then it's a holiday for a hanging
yeah it's a holiday for a hanging
yeah it's a holiday for a hanging
yeah shoo-bop-shoo-bop my baby
Any fool can play executioner for a day,
and say with fingers pointed in both directions
'he went thataway',
It's only a switch or syringe,
awh, exempt from eternal sins.
But you still wear a cross,
and you think you're gonna get in.
Ah, but the pardons never come from up-stairs.
They're always a moment too late,
but it's entertainment
keep the crowd on their toes,
it's justice, we're safe.
It's not a hit, it's a holiday
shoo-bop-shoo-bop my baby
It's a holiday for a hanging, yeah
It's a holiday for a hanging, yeah
It's a holiday for a hanging, yeah
It's a holiday for a hanging, yeah
I'm a holiday for a hanging,
I'm a holiday for a hanging,
I'm a holiday yeah
I'm a holiday for a hanging,
It's a holiday for a hanging, yeah
I love that song.
Listen to it - http://www.youtube.com/watch?v=0MjcLdQJB_c&feature=related
How court proceedings go in Never-Never Land...........................oh, wait.
"So Mr. Jones, you robbed the bank, shot the guard, got caught, and now you're sorry?"
"Yes your honor, I'm deeply sorry and regret my actions. It's not part of my culture."
"Well then, let the court records show that Mr. Jones is deeply sorry. I hereby dismiss all charges."
"Thank you your honor. I sincerely expect this will not happen again."
That has actually happened in Canada.
ROTFL!!!
Up twinkles ;-)
After watching a couple of hours of this testimony, I have come to the conclusion that my eight year-old dog, Buster, could also be a bank CEO. Apparently, being a "stellar CEO" banker means only that you never admit knowing WTF is going on within your own company. Buster can do that.
Buster can also eat everyone else's bacon. That's also what bankers do.
The OWS "Bowel Movement" wants to be cared for by selfless statist nannys who feed off moisture and nutrients in the air we contaminate with our carbon CO2 and bovine flatulence ! Statist nannys so altruistic you can't look at them directly for the glow of their halos ! Monedas 1929 Comedy Jihad Socialist Dreams Of Your Father
Was that English? I just don't know.
You are so wonderful....really enjoy your posts. Tears of happiness well- up when i think of all those common-good folks that only have the wellbeing of their countrymen at heart....on this July 4th holiday , it becomes us to remember the fine officials and bureaucrats in ......China, Russia, Vitenam, Cuba, North Korea, ....i could go on, but i feel so overwhelmed.
awesome!; MDB - where Krugman, Summers and Bernake go for their best material. If MDB posted on a liberal blog he'd be a trillionaire.
The People of OWS do not need a team to figure out they are being screwed daily. Everything that finally comes out just legitimizes OWS even more.
They told you so.
I agree. This measure wasn't strictly necessary, as the OWS movement is well-meaning and therefore their solutions are guaranteed to have positive outcomes. A predictive analysis of the policies is not required, as good intentions always lead to positive outcomes.
Yes, they did indeed tell us so. The OWS movement has been on the Libor case for many years, and now they are finally being vindicated. I'm glad to see that the Zero Hedge readership is finally waking up and joining the progressive revolution. It seems my efforts to educate readers are finally starting to pay off.
MDB - This one is for you. I think you should run for President of the United Earth Directorate.
"In the earlier epochs of history, we find almost everywhere a complicated arrangement of society into various orders, a manifold gradation of social rank. In ancient Rome, we have patricians, knights, plebians, slaves; in the Middle Ages, feudal lords, vassals, guild-masters, journeymen, apprentices, serfs; in almost all of these classes, again, subordinate gradations. The modern bourgeois society that has sprouted from the ruins of feudal society has not done away with class antagonisms. It has but established new classes, new conditions of oppression, new forms of struggle in place of the old ones. Our epoch, the epoch of the bourgeoisie, possesses, however, this distinctive feature: it has simplified the class antagonisms. Society as a whole is more and more splitting up into two great hostile camps, into two great classes directly facing each other: Bourgeoisie and Proletariat."
Go ahead and spin it any way you want with two faced compliments. I saw the lies in this country before OW$ by 40 years and I am glad they are finally catching up to me.
Is anyone as surprised as I that MDB is commenting here and not on a beach somewhere, enjoying a bottle of Cristal and the company of a very expensive hooker?
You forgot: the common good.
enough of this sociopath, blaming everyone esp his lower paid traders for all of this, I need a shower.
Thus sprach Lord Keynes ... more fool he.
One of the best trolls I've seen in a very long time. Good job.
Friday, July 13th Silver Bomb!
Buy Silver!
, crash JPM...
Friday, July 13, the date to ramp up the Silver price and then lock the suckers in, again.
Now I see, how the handful of Elites are able to rule and control millions of sheeple like you.
Once we're done investigating the Libor fix, how about investigating the gold fix? Especially the AM/PM discrepancy.
Sure, but first we must put all our life's savings in PM.
So are you a coward, stupid or just an asshole?
This genius was completely unaware of the obvious around him. Apparently he's more like an idiot savant.
Prudent.
What differentiates a good buy from a bad buy are price and timing.
Golds been up 12 years in a row. Silvers performance has done very well over that time frame too, despite the ongoing COMEX fraud.
You cost average in, there is no better "prudent" way to buy PM's over the long haul.
Tell that to someone who bought silver at 40$/oz.
On a long enough timeline...
So you're saying silver will never get above $40 again, is that your argument?
Got it. You're just another top caller then.
Assumptions are mother of all fuck ups.
I SAID ITS ABOUT PRICE AND TIMING, MORON!
Why buy at $40, when you can buy at $20 is what I am saying??!
Why not "buy" at both clown bux fixes, but twice as much at $20?
That makes your cost basis $26.67 clown bux, right? When the USD goes to < 1/50 oz Ag will you care much that you did not pick the absolute bottom? How about when it goes even lower or to no bid?
Don't know if/when I'll see it, maybe it'll be my kids instead --
you get the point, or perhaps someone else will.
How is investing in something that has no counter party risk not prudent?
Are you dyslexic or just blinded by some mad passion?
I said, its about price and timing. See my post above.
Why the down arrows? Have we changed so much that even 30 year old media is rejected so abruptly? Now I feel very old.
lmao.....
it has been a soap opera for a while now....
Bring back public hangings for the politicians and the thieves!
Wall Street Supporters In Congress Unmoved By Libor Probe
http://www.bloomberg.com/news/2012-07-03/wall-street-supporters-in-congress-unmoved-by-libor-probe.html
This hearing shows that at least white-collar crime pays dividends in a ZIRP environment.
It's not exactly the low ball, ass kissing they gave Jamie Dimon is it ...?
10 to 1 nobody goes to jail.....
Then tea. And female sex noises.... I meant Wimbledon!
Lie on you crazy Diamond!
Why arent these guys interrogated CIA style?
I'm just wondering how he can keep a straight face while he's lying through the farce!!
Practice, mother, practice.
It's a job requirement that he not only be a weasel but his face must be fixed in a replica of a weasel to support the straight faced pantomine
Why don't they just skip these hearings & let the public know justice will be meted out behind closed doors?
There's room at the top they are telling you still
But first you must learn how to smile as you kill
If you want to be like the folks on the hill
Working Class Hero
Because they're in MI6 territory?
Obviously the biggest crime here is that someone got caught committing an authorized crime.
Don't give me any of that do goody good bullshit.
Remeber to bring a barf bag for the bad and a case of beer for the good.
But already you can see the media playing the 'don't blame the bankers they were trying to save Barclays' bullshit - Robert Peston of the BBC is easily the worst; claiming that the traders were valiantly trying to save the bank - wow what bull shit.
..and now this guy on Bloomberg....sickening...
Almost as bad as Krugman's "the bankers are the victims" article.
ManBernKrug!
bbc stooge
robert ffff fucking pp peston is an m16 rothschild bag man.
anything out of his mouth is suspect.
not only is he a compromised turd he is also a closet sodomite.
Streaming here too:
http://www.parliamentlive.tv/Main/Player.aspx?meetingId=11170
Maybe TPTB are now regretting they took away his bonus - with nothing to lose I hope he takes every single one of those fuckers down.
The entire industry needs extermination.
Banksters are the root of much of our societal rot.
It should be a value to society, not a tick sucking life from off its nutsack.
Banking by nature will always be shuffling other peoples money around the table, always a tick sucking escapade
the veinest plea of the likes of JP Morgan is they loan money to farmers and businesses to expand
some would question why businesses need loans in the first place. It is the bankers credit cycle that blows inflation into the economy and raises purchase prices (see Irish, British, Spanish, US property prices) in the first place
Bankers created the debt-slave economy. The sooner these bloated credit/gambling junkies are put back in their box the sooner society and the economy will heal
A few other industries need examination too, this is not limited to banking: military contractors, prison, security, medical, pharma, agro, insurance, ...
I think there's plenty of public support to start here, then move on.
Bob Diamond: I plea da fif you fucking mindless muppets.
Being a British parliamentary committee there is no fifth.
In fact it is the opposite, under "parliamentary privelige" Diamond can ignore any gagging orders from junior organisations and tell things how they are (if he chooses to).
Mr Diamondina, Mr Bob Diamondina
http://www.youtube.com/watch?v=-h3ynPZEOM4
*BARCLAYS SAYS HAS RECORDING OF DIAMOND, TUCKER CALL, SKY SAYS"
Oh, so we have evidence not only of Regulators doing the usual of not regulating...
...but also one step further into the mire, rigging the market with regulated entities against consumers to fleece them
we all suspected Regulators were little more than fronts for Big Bankers to do their dirty work, now we have evidence of their monopolist practices, anti-consumer and anti-free market work
Well said...and correct.
History will judge Barclays
I love Barclays
-Bobby D
When you are a criminal and you are caught red-handed, the first thing you do, of course, is talk about how great you are, and how much love you have. Straight from the Handbook for Sociopaths.
Let the squirming begin.
Hope he ducks when the pie comes out of left field (a la murdoch).
Mark Carney will save us.
I don't recall -bobby D
"Let me re-iterate how sorry I am, and how disappointed I am with some of these behaviours, and let me be the first to say that we were vigilant in eradicating this when we became aware of it."
Slimy fuckwit has clearly spent days in hardcore tutoring sessions with his lawyers.
Recordings of calls? Maybe the Murdoch Hacks have a redeeming value?
Thirsty SOB, isn't he?
Tell tale signs of lying. He keeps fidgeting with his glasses, pouring water, drinking water. I noticed his skin keeps flushing with certain questions. Lying snakes!
Tell-tale signs of being nervous, one reason for which could be lying.
That being said, these chaps are putting on a good show of chasing the vaseline jellied snake around the linoleum floor.
The bigger tell is that he can't just answer their questions off the cuff and needs to keep "going back" to start at a known context so he doesn't trip himself up in his lies. He's a well--rehearsed liar (couldn't succeed in banking otherwise), but it's obvious that he has a staged "memory" of events not a genuine recollection.
He better drink up now cuz there isn't any water or Bolinger's in Hell.
Sure there is....it just happens to turn into piss as you drink it.
mr diamond: "it was other banks doing it worse then us, it was the little people in trading doing bad things that were wrong, as soon as I knew I took action" those damn supervisors did not tell us those trading supervisors I tell ya we gotta get em..
this is one sick sociopathic lying coward.
Yet another Alzheimer's CEO who earns 8 figures to not know what's happening (yeah right) in his corporation.
I want one of the interrogators to step up and say,
"You're "angry"?! You failed to implement proper internal controls in your company, turned a blind eye to bald-faced malfeasance, and fostered a culture of criminality that would make the mafia blush. You have made a mockery of the institutions of capitalism and pretended that they were a plaything of your own design. You have proven every stereotype about your industry to be exactly the case. You have no bloody idea what angry is, Mr. Diamond."
Put those "few bad apples" up your puckered little butt, Bob.
Can't get those glasses clean either
Much ado about nothing...nothing will happen to any Criminal Executive Officer or any other execs. Wrist slaps and bygones. This is nothing by a puppet show for the benefit of the muppets.
Wall Street still giving to Obama
http://www.cbsnews.com/8301-503544_162-57465854-503544/wall-street-still-giving-to-obama/
And as long as they are you can expect nothing will be done!
Morgan Stanley Got S&P To Inflate Ratings, Investors Sayhttp://www.bloomberg.com/news/2012-07-02/morgan-stanley-pushed-s-p-to-boost-ratings-investors-say.html
mr dimond:" of the 15 banks reporting libor, we were always much higher then 13 or 14 of them, and we knew that many were reporting rates they could not get in the market"..hmmm so other banks were out right lying bastards mr dimond? he is the best of the worst is his answer..LOL
right on overmed, his defense is - "sure I'm guilty but I'm less guilty than others". Then he follows with - we knew others were fixing too. Great defense; guilty, knew others were guilty, but neglected to take a single action over years to resolve the matter. Nothing but the fucking best in banking; what a bunch of eternally fucked devils for selling their souls.
U jus don unnerstand "self regulatiing". Isn't in their "best interest" to.... ah.... you know.... the bad thing.
Honest.
I think that mr. diamond, mr. del missier, mr. agius, mr. tucker, whitehall, the boe & the fed can all make use of this: http://tomarayascream.com/
Damn, I read that as "To Maraya's Cream". Seasons in the abyss, I tell you, seasons.
Why are the questions focussed on what Tucker said? What happened to all the fraud prior to that meeting?
Only 14 out of 2000 traders were bad....rest all were good...
pls move along...
Rest of the 1,40,000 staff doing Gods work....
Bob was "physically sick" when he saw what the traders had done....about libor...
all other harm that the bank unleashed over the past 16 years when he was at Barclays... he was fine...
Im watching this Bobby D and listening to Modest Mouse "Balme it on the Tetons" - great smashup!
Libor -> good news for people who love bad news.
Barclays has a recording, yeah, I'll bet. Here is the transcript:
And I think we should form a committee the enact tougher ethics standards than the already stringent regulations imposed by law...
HAHAHAHAHAHAHAHAH!!
Waterboarding would be appropriate here.
Banker vs Banker
this man is worth over 200 million.
for years they have said he is a genius.
the brain they called him.
it seems he has been coached using the rupert murdoch mind fog technique.
mr diamond;"i have alot of friends at all the regulatory agencies, fsa,sec,etc etc, I love em all I love barkleys,"
in answer to:" should bankers who commit crimes go to jail?"
this is comedy at it's finest..
Ooh,
"custodial sentence for bankers"?
i
i
i don't recall the that
please give me a minute.
can
can eye i make a statement
this is the humb..
this is the humblast
sorry
this is the humblest day of my rotten rothshield life.
and my nervoss
my nervous replies are based on the fer fact that i would like to enjoy the 265 million dollar fruits of my labor.
please
please mi6 don't david kelly me.
I've been watching a bit of this circus. The MPs are disgusting. Especially the Labour/Lib Dem. MPs. They were loving the city during the boom years when tax receipts were flowing into the Treasury on account of labour deregulation that allowed banks to run things they couldn't in the US. When it all blows, they're the first to point the finger at the banks. Now they've become sanctimonious pricks. The bankers are no saints but the politicians are stinking and perfidious.
and whom exactly [sic]perfided your putrid pussy-villianimositous politicos?
The public
Of course one couldn t live without the other.
i missed the first hour...
but at the moment it sounds just like another wankfest. nothing new under the sun. old men stroking each other's dick.
the lady speaking now has used the term criminality about Barclays behaviour about 10 times, this is much better than watching US Congress.
This Scottish man is standing up to bankster bob's bullshit
He puts American politicians to shame. He doesn't put up with Diamond's platitudes ... Wonderful stuff. The Brits can still do somethings well.
I agree good stuff, the lady now is asking how many of the barclay's traders have gone to prison rhetorically...he's got to be sweating a bit
It's like watching a schoolboy being told off by the teachers, kinda amusing.
Diamond seems to be holding his own .... his English is impeccable .... doesn't speak like a cockney limey falling out of a pub ! Maybe he should be interrogating them ! Monedas 1929 Comedy Jihad Not So Important What You Say .... It's How You Say It !
"Not So Important What You Say"
Very Important Who Is Listening and Recording.
It's about fucking time that the justice system is woken up and puts some of these criminal companies to task behind bars. It's fucking sickening how the financials continue to use fraud as a business model while a guy who robs a 711 goes to jail. Fuck them, hang the fucking fuckers before we take justice into the streets...
One American Jew = 100 Limey Socialists = 1000 Muslim Socialist Terrorist ! Monedas 1929 Comedy Jihad New Math Made Simple
One Mormon from Mammon = 100 unemployed construction workers = 1000 illegal immigrants.
Stop the pointless hearings and start the fucking trials already.
There will be no whitewash in the White House.
tricky dick nixon
there always will be a polite english whitewash in westminster.
tony the bone wilson
Can we get a mouthwash though?
Cuz damn!
That's right... Ol' "Tricky" Dick Nixon, I almost forgot.
Now, we have "Bankster Barry" with all his Goldman Sucks thugs, J.P Morgue'rs, Wall Street hoodlums, and his CEO pimps all prancing around like self-propelled hippos hollowing out the sustenance of the American sheeple and gorging on the fruits of their labor leaving nothing for its owners.
Start the fucking hanging
Dimon
Corzine
Blakenfein
Pandit
Dodd
Pole Smoker Barney Frank
Pelosi
and many more
Only person who speaks the Truth RP and the sheeples are led to believe the same crap over and over. Inbreeding at best .
nevermind
Why does Bob Diamond keep using the first names of the members? Doesn't that seem like he is (i) trying to make them sound as if they are friends who should get dragge down with him or (ii) trying to demonstrate that he is above the committee?
Aren't there rules in the British Parliament?
They were all butt buddies.
That goofball on the left of the slimey limey socialist bitch FELL ASLEEP ! Thanks Bob for the 4th of July present ! I'm going to have a Bolinger/Absinthe cocktail for breakfast ! Monedas 1929 Comedy Jihad Slick American Jew Bankster Speaks Down To Common Socialist Nit Wits !
LOL, did you see his eyes darting back and forth when the question of bonus clawbacks came up? Looked like a trapped animal!!!
After teh fucking hearing at the pub for some drinks and this will be forgotten. Just like the USSA, a Dog and Pony show. Too much talk in the USSA and EU to nowhere. I guess talk talk and talk is all that is left with no action.
looks like mr diamond has zeroed in on the real culprits the true crime bosses: "14 traders did this"
I hope he is forced to watch his testamony every f'n day for as long as he lives while sitting in an 8x8 concrete cell.
This is not going well .... call a recess to fly in Nigel Farage .... at least he can spit it out !
Nigel and RP will fix this shit. After that , take out back and shoot the fuckers.
Hang! Shooting is for soldiers, not common crimnals.
This is fucking boring . Get the guns out.
You have to admit .... my Jews (Bernanke, Dimon and Diamond) hold their own in front of clueless Socialist legislators ! Monedas 1929 Unofficial Spokeshole For All Jewish History
You are guilty of being an idiot. Jamie Dimon is Greek Orthodox. Bob Diamond is Irish Catholic.
Worshipers all of the Abrahamic demon.
When Greek Orthodox and Irish Catholics imitate my Jews .... we are making progress ! I call it Abrahamic Bonding ! Pax Monedecana be with you !
i mean, we all know that diamond knew precisely what has been going on for years.....that said, ....the british are so much better at dealing with their bankers.....
i mean, how come NO ONE has thanked Mr. Diamond, as one of the most powerful people in the banking industry, for deigning to appear>
And how come no one is graciously letting him recite his prepared answers and then thanking him.
And how come there are people INTERRUPTING his prepared spin?
And how come no one is asking him how the rules can be rewritten to "prevent this from happening again"?
These British...they could learn a lot from our Congress!
i mean, we all know that diamond knew precisely what has been going on for years.....that said, ....the british are so much better at dealing with their bankers.....
i mean, how come NO ONE has thanked Mr. Diamond, as one of the most powerful people in the banking industry, for deigning to appear>
And how come no one is graciously letting him recite his prepared answers and then thanking him.
And how come there are people INTERRUPTING his prepared spin?
And how come no one is asking him how the rules can be rewritten to "prevent this from happening again"?
These British...they could learn a lot from our Congress!
Just another circle jerk. Same old shit. No one gets arrested, no one goes to jail.
Later on today this guy will be on his yacht, martini in hand, watching the sunset.
I wouldn't be surprised if Diamond hasn't already received a dozen job offers!
Alright, enough of this prevaricating length of large colon that can speak.
Here it comes, time for him to dazzle us with bullshit.