theprimeminister.com Blog

Barclays Diamond Greed , Ignorance & little true audacity re the Lehman Deal, when the truth slips out after 2 plus years!

2010-03-15T09:53:48Z

This is the Bank, Barclays, that wishes to send its number 2 as candidate under a Tory Government to be Governor of Bank of England- whilst
it conducts its own affairs with arrogance & not enough true research & due diligence.
As market gossip prior to September 2008 knew the time bomb ticking at Lehman with their over zealous marketing , sales techniques and , even the ex Financial officer had been sacked with comments slipping a year prior .

So Barclay’s Management should be expected to all fall on their sword , if news now is confirmed that many knew prior , that Lehman were conducting themselves in a criminal manner.

Now we have the book , by Lehman’s ex wives ! wow , having milked their association for years , of course they will talk after the Horse has bolted!
( ‘The Devil’s Casino’, appropriately titled)

Once again poor judgment of Tory expected Financial matters , when they are already farr too close to Barclays !

The whole Lehamn Story has not even truly started if te truth does in its entirity get out!
BBC 2 last year gave us a soap opera version , with wasting tax payers money in just dumbing us further!
on a serious reckless evil & dangerous Corporate entity!
that still has many repercussions swirling about in the SYstem at Large
! whilst auditors collect Huge, for many years to come , to supposedly clean up mess, that they were part of !!

British Airways & pending Strikes

2010-03-14T10:20:02Z

Management must hold the responsibility here.

They have being working for years , on this deal with Iberia & America

It is all about costs & supposed savings,
if they can hoodwink those they need to , so to obtain all Green Lights

In Reality the board by choosing the Irish Man , has destroyed the airline slowly & steadily & before his contract runs out- he secures his un deserved Future with this merger of smerges of deceit.

BA- has not & is not & has not tried to be competitive on fares, with the
Internet Sales – they still treat the market from the UK differently & more expensively than those they chase all over Europe , so to fly through UK onwards.
SO Uk residents etc actually subsidize other’s cheap travel.
& The list continues !
But back to the Strike!
Forget Unite , remember the wages are pitifull,
the standard of staff pretty much the same-
who seriously would want to be a waitress in the sky for BA -
where is the perks, the money or the Future!
Many who they have on their staff , should already have ben put out to pasture !

BA reminds us of the late& PAN AM , & when it was declining,where the crews said everything.

Maybe as so much of Uk service industry can hire from Africa
India etc South America for the hospitals etc & more
why can not BA do the same !

The strike is all about the deal! & the Management like many UK Managements, are being incorrect & deceitful, with their true intentions.
Those that work inside whether the board or executive committee etc are all sleeping or not doing the duty !

BA since Thatcher years has been too poliical

We had Lord King , ( no airline experience)
the the Civil Servant Bob Ayling ( who should have stayed witht the Mandarins) a smuch of the wastage surplus funds were incorrectly invested in chasing CLub passengers to their detriment

As with Willie Walsh- he came from Aer Lingus- asa failure as he could not Achieve Putting the airline into play – yes a sell OUT- so fees could be collected ! and so BA hires him
ah we missed the Australian from failed Ansett! who has close ties with Murdoch

BA neeeds a sincere & true clean up of the Board– & this is not part of the Iberia deal !

as it should be in Uk interests to keep BA independent & work the alliance One World intelligently & not about playing senior jobs off within an inner club!

Remember the opposite number at Iberia comes recently from Tobacco, so to assist this dubious deal

It stinks but not of Tobacco !!

Bulger killers’ prosecution slammed , Where is Humanity!

2010-03-13T07:34:27Z

Maggie Atkinson from the Child Commissioner
is correct, it was a disgrace , & reflects poorly on what sort of society we were in 1993 at the time of the Court Proceedings
NO Humanity!
It was led on by mob hysteria.
by CLASS
as no child or children with money, so proper legal help, would have seen that course of action!
For the trial not to permit the evidence of child abuse on the two,
the viewing of horrible videos, which no doubt gave them the idea of such a horrible act!
& what sort of monster parents, those kids must have had,
to permit, children of 10 and less to watch , see such violence

The Trial and the action of the various political bodies both Judiciary, Police and Politicians were once again contempable.

But when we permit media like, SKY, like SUN, like, Times, Like Mail, Like BBC , etc etc ,to wip up hysteria, as with out that oxygen & outlet -
this whole case could and should have been kept quiet for an attempt , at justice.

but who truly cares as the kids are from poor backgrounds

now we hear about the cost , always the cost of 250K to keep annonymous identity etc
How about who has financially benefited from the spending of these funds , the ridiculous agencies , the so called re development programs etc
the so called viists from the Home office ! ( excuse to travel the counrty)

Ernst & Young !! Who shall go to Prison or atleast be fined an amount that means Pain!

2010-03-12T20:01:19Z

A report into the collapse of Lehman Brothers criticises senior executives and auditor Ernst & Young for serious lapses that led to the firm’s collapse.

According to the report by the US Court appointed examiner Anton Valukas, Lehman’s used an accounting mechanism called Repo-105 to keep $50bn off its balance sheet in order to make the bank appear healthier and maintain a favourable credit rating.

Timothy Canova, a professor of international economic law at Chapman University’s School of Law in Orange County explained the Repo-105 mechanism to the Today programme.

The professor told Today’s Nick Cosgrove that he expected to see some “significant civil claims” as a result of this report.

Anglo Irish , a Criminal Story still to be truly investigated & brought to Justice ?

2010-03-12T11:47:48Z

Ah Ernst & Young also known as scoundrels limited,
They audited the most morally bankrupt bank of them all:AngloIrish Bank.
Despite sitting on the front row of that companys AGM,
it was the chairmans (a bunch of charlatans) that where villified when nobody seem to ask who was responsible to audit this gross negligence.
Their rule of staying perfectly quiet has worked trumps and they seem to have at least trained in this meticulously.
These words re Anglo Irish. This Bank is a serious disgrace
& the management still there behind their desks ,
only a token few were ousted
The above words so true& it is even worse –
as here we are talking about ten’s of Billions
10,000,000 and 10,000,000. and keep going !!!

YES 10’s of Billions of Euros

& the connection with politicians
dubious business groups,
civil servants
serious criminals at work,
etc etc
will neverr be investigated
As money buys power
& here we are seeing it played out
The accountancey firm that was mean’t to audit & many other professionsals have betrayed their duty

& the current & next generations will pay!
but why!
has media public opinion & pressure groups not demanded
justice !
or as we slip into South American practises ,
the public & what they see in Media, are being dumbed by stupid stories & not ones about
100 Billion Euros being stolen

Daylight Robbery of the real kind ! Irish Style
but Money too big to mention! Buys Silence wiht all that should and are expected to behave differently!
Who is listening to their confessions !

Tories boycott Commons inquiry into Ashcroft peerage

2010-03-12T11:18:59Z

Why do the Tories hide & know, or should know

re Ashcroft

but more importantly, what true Hold does this dubious Lord have over the whole party , when they wish to behave in this ignorant & arogant manner–
questioning their right to be part of the next UK Government ?

JPMorgan, Citigroup Helped Cause Lehman Collapse,

2010-03-12T10:10:10Z

The truth now ,after many Billions of dubious bonuses! have been paid out !

We hear what JP Mrgan and others did- to enourage, assist & actually put Lehman in play so to collapse!
Worse still to come out!

How it is convenient for many on Wall St that they were a convenient smokescreen as much of Lehman ’s dubious incorrect deals have been Lost with the administrators & expensive legal battles for the very few! so many will esacpe the judical review, they deserve! etc

The above is real white collar kriminality which will escape
true & deserved justice!

BRAZIL, Currently Emerging Market , preparing to test submerge Times !

2010-03-09T18:46:03Z

It was 2002 yes only 8 years ago

when most of the Financial Global Community, were advising to dump the currency ( Real) which was approaching 3.9 ( high 3.99)
& also to dump equity on their index which was approaching 10,000 yes TEN Thousand

now in 2008 only2 years ago & when the currency was hitting 1.57 yes from 3.99 so had been strengthening ,

& the Bovespa yes Brazilian equity index like Footsie or SP500 or CAC 40

was hitting 80,000 yes EIGHTY Thousand

Expert & similar opinion to the crowd of 2002, were strongly advising, must BUY Real, as it will go to parity 1 to 1

& the Bovespa will hit 100,000 , yes ONE Hundred Thousand

EVEN though we had, already increased , 8 times , on the index & the currency appreciated by over 70% & with gearing many many multiples!!!

So please Wake up , Global Village, when the insight , expert opinion
are discounting the Brazilian Election in October ?
discounting the fact the currency has rebounded from the sharp move from 1.57 to 2.7 and now 1.7

keeping matters simple Brazil is a selective SELL SELL SELLL< yes not BUY BUY but BYE BYE l
as with the pending election,

& much potential uncertainty etc

& with excessive FDI yes foreign investment , after going for the door since 2002
they are now very much jammed up inside, the entrance.

So the best next surprise move, is for currency to find an excuse to get close to 3 again
& the index to test 33,000 which was hit in yes 2008, only 2 years ago!

AS for election forecasting,

expect an upset, &

some alternative candidates, who have not declared yet , so do expect , to declare their interest in June !

watch out , there is a Brazil about!! & it can hurt!

Like the Nut!, if it falls,&lands in a sharp format, beware!!.

Public Personalites have a Responsibility

2010-03-09T10:16:00Z

99% of those that seek Public ?
Media attention etc whether to promote their work, ego, wealth , boredom , etc have a duty!
to use that exposure correctly-
especially when we have a trending Media That is Globally dumbing all, selling all the time ,
so much of what was once supposed ‘journalism’ , is now the work of some spin/ PR machine & leading off or towards ,
selling something !
Just try & read the Sunday rags! or even the daily depresses
they have changed dramatically for the worse !
These past 20 years !
Look at last Saturday 6th March The Times report on Cocaine Drugs – light hearted and even make fun of other paper readers who are very critical ! what sort of cheap reporting & pandering is this !

We also hear that ASHcroft has been & will continue to invest into the Blogging World ! wow so even what might have been independent thought & criticisms is now part of something else & another agenda!
Next we will hear the paper has an interest in sales increasing better than 5 fold these past 12 years !! wow ! what a society!
Like so many of the professions, they have sold out for any excuse to get their hands on MONEY first.
Whether it is supposed stars, being arrested for drugs & drink mis behavioru- & getting off! maybe to the courts and to the image , that encourages more tarde for the drug & drink pushers! but Health is aperosnal issue that should be respected !
wake up whethere it is Kate , Lindsay, Pamela, George, Phillip,
Peter , David etc etc the list is endless and truly Global!
wake up before it is too late! ONE Body whatever the plastic surgeons may say!

PRUDENTIAL MADNESS NOW STALKING ASIA !WOW- LETS DESTROY THE SHAREHOLDERS AFTER THE BANKS EARLIER MADNESS

2010-03-03T13:26:32Z

Needless to say the Pru has changed since the 1970s – but not necessarily for the better. The new chief executive officer (CEO), Tidjane Thiam, is a management consultant from the Ivory Coast, with no particular ties to Britain and few to the insurance business – he had spent a few years as “Strategy Director” of another insurance company after being headhunted from McKinsey & Co. Needless to say, Thiam wanted to make a splash, and not leave the venerable British company looking the same as when he found it.

At first sight, buying a huge Asian operation looks strategically sensible – it makes Prudential a major player in the Asian market and a substantial one in – gasp – China. There are rumors that in order to buy it, Prudential may divest itself of its U.K. operations, thereby losing a low growth business and moving into a high growth business. All very consultantish and clever.

That’s until you look at the question of price. Prudential is paying $35 billion for AIA, which is $15 billion more than the $20 billion AIA was thought to be worth as a stand-alone business. To buy it, Prudential is going to issue shares to AIG, as well as undertaking a $20 billion share issue that will double its capital and dilute the hell out of existing shareholders.