Wednesday, June 21, 2017

The Barclay Banksters

Former Barclay Bank chief executive John Varley, former senior investment banker Roger Jenkins, Thomas Kalaris, a former chief executive of Barclays' wealth division, and Richard Boath, the ex-European head of financial institutions, have all been charged with conspiracy to commit fraud. It relates to a £2bn loan advanced to Qatar after the fundraisings were negotiated, the implication being that there was a money-go-round at work - Barclays was handing Qatar some of the money it was using to support the British bankso it could avoid a govenment bail-out and the consequences of that on th financial market which led to their rivals, Lloyds Banking Group and Royal Bank of Scotland suffering collapse of share values.

The SOYMB blog makes a tentative prediction, that the banksters are found not guilty and if they aren't, they will not receive jail-time but will be have a token fine imposed. 

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