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Bruce
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18-08-2012, 05:18 AM
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Too rich to regulate: the banks got away with it

From the ABC News 24 The Drum:

A New York hedge fund manager told the ADC Leadership Retreat at Hayman Island on the weekend that he expects US bankers to be led away in "handcuffs and pyjamas" pretty soon over Libor rigging.

What's more, he reckons, civil damages over the scandal could end up being greater than all bank capital.

Nobody believed him; the audience smiled politely and moved on, thinking: "Yeah, sure."

The market's not too worried either: Barclays shares are up 22 per cent from their post-Libor lows, and back to where they were in May, and shares in Standard Chartered Bank, which has been fined $340 million for breaking US sanctions on Iran, have gone up 16 per cent since that scandal broke.


Full article here
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20-08-2012, 11:37 AM
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Re: Too rich to regulate: the banks got away with it

These people are bombproof - they supply an essential service which the vast majority of us can no longer do without, just like the utility corporations. No surprise if they find a way of controlling the air we breathe and charge us a premium for using it. Can't be long now.
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20-08-2012, 11:50 AM
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Re: Too rich to regulate: the banks got away with it

Originally Posted by 2wheeler ->
These people are bombproof - they supply an essential service which the vast majority of us can no longer do without, just like the utility corporations. No surprise if they find a way of controlling the air we breathe and charge us a premium for using it. Can't be long now.
Maybe not, with public dissatisfaction of banking and the growth of online peer to peer lending organisations like Zopa set to grow the banks could be in for a bit of competition.
They were discussing this on the radio on Saturday.
http://www.bbc.co.uk/news/business-18370777
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21-08-2012, 07:34 AM
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Re: Too rich to regulate: the banks got away with it

Sorry Bruce, the rise and fall of shares have nothing to do with the Companies.

Shares rise and fall at the whim of the buyers and sellers of shares.

A buyer uses other peoples money to buy something that they think they can sell later on to make a lot of money for themselves.

A Seller is the person who is making his money to buy his next Yacht.

See companies do not have a say in it.

ps, I have bought and sold shares never once thinking about the companies.
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21-08-2012, 11:08 AM
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Re: Too rich to regulate: the banks got away with it

Originally Posted by Antibrown ->
Sorry Bruce, the rise and fall of shares have nothing to do with the Companies.

Shares rise and fall at the whim of the buyers and sellers of shares.

A buyer uses other peoples money to buy something that they think they can sell later on to make a lot of money for themselves.
You have to read the whole article. I think the point the article is making is that inspite of all the illegality no-one in business believes it will affect the business itself and that it will continue to make massive profits as before.

However I disagree with your basic premise; the profitability and future prospects of a company has everything to do with the share price.
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22-08-2012, 08:17 AM
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Re: Too rich to regulate: the banks got away with it

Originally Posted by Bruce ->
You have to read the whole article. I think the point the article is making is that inspite of all the illegality no-one in business believes it will affect the business itself and that it will continue to make massive profits as before.

However I disagree with your basic premise; the profitability and future prospects of a company has everything to do with the share price.

Bruce the only reason companies have shares is to raise capital. Low share prices do not directly effect a company, only their rating with which to borrow money.

Profitability is due to their product and efficiency as is the future of a company.
Share prices tell you what a company is worth in paper value not in real monetary value.
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22-08-2012, 12:57 PM
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Re: Too rich to regulate: the banks got away with it

Originally Posted by Antibrown ->
Bruce the only reason companies have shares is to raise capital. Low share prices do not directly effect a company, only their rating with which to borrow money.

Profitability is due to their product and efficiency as is the future of a company.
Share prices tell you what a company is worth in paper value not in real monetary value.
I suspect you don't own any shares.
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23-08-2012, 07:27 AM
8

Re: Too rich to regulate: the banks got away with it

Originally Posted by Bruce ->
I suspect you don't own any shares.
Not now, we gave ours to our Grand Daughter but we do have a bond tied to the FSTE which we bought when the market crashed down to3867 and we shall be cashing it in when the FSTE reaches 6000. I do love a good profit.
 

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