Wednesday, June 27, 2012

Which is Worse: Barclays Criminality or Their Sheer Incompetence? (BARC.L)

From Fintag:
News comments:
What can you say? Investment Bankers cheating again.

It has been clear for years that Libor was a bit of a dart throw, but Barclays abuse is quite staggering. But then when bankers are able to con governments in getting them to fund their bonuses under the guise of capital requirements and too big to fail rhetoric, then what is a little bit of libor flexing?

Barclays are in big shit. Everything they have done in the past 10 years has turned to dust.

Barclays are rumoured to have pumped 2 billion into film partnerships, tax schemes being investigated and closed down by the UK's tax authorities. Barclays have also set aside huge sums for PPI mis-selling and it turns out will be setting aside even more for the mis-selling of interest rate swaps....MORE
Today's Barclay shorts:
USD450 Fine (reuters)

PPI (moneysavingexpert)

IRS (telegraph)

Film Partnerships (independent)

Privacy (fintag)

1% tax on UK profits (mirror)

Today's longs:
GoogTab (bloomberg)

Bank of America, UBS, Nomura ...(rollingstone