Barclays Bank Boss Drilled Over Corporate Tax and Tax Havens

[jonathanfrate]

@eDemocracyUK

Bildeberg, Rockefeller, JP Morgan, Global Conspiracy....Dude, don't stop taking your meds, you sound loony tunes!

[eDemocracyUK]

@jonathanfrate

So you deny Boeing are the 2nd largest weapons manufacturer on Earth? You deny Halliburton and other corporations have made profits from oil only available due to the invasion / occupation of Iraq?

Why do you use the word "conspiracy"? It's the truth. Only those in denial believe official "conspiracies" and deny truth as irrational, crazy ramblings of people with mental health problems.

Ignorance is bliss. Put your head back in the sand and carry on your worthless life

[jonathanfrate]

@eDemocracyUK

I don't deny that Haliburton made money on Iraq. I do deny that Barclay's took the UK to Iraq. Barclay's sells no weapons and makes the same amount of money if we had gone to Iraq or not...

Now my life is worthless because I don't buy into your loony tunes conspiracy theory? Okay i'll start wearing tin foil on my head if it will make you feel better...

[eDemocracyUK]

@jonathanfrate No your life is worthless no matter what you believe.

Your life has value when you're dead and gone. Nobody remembers anybody who didn't die for something.

[jonathanfrate]

Let's follow your logic here:

1) If entry levels at the bank aren't paid well, they steal customer data and money. So we should pay them lots, or else they will cause damage to us.

2) Surely you'll agree the higher up someone is in a bank, the more 'damage' they could do to us. From stealing our money, to bankrupting the whole bank and losing our entire deposit with zero insurance!

3) So by your logic, those at the top should be paid lots, to avoid bank crashes.

We finally agree :)

[BeautyHealthZoneBlog]

@jonathanfrate

There is a big difeerence between getting paid handsomely and plain old greed. Maybe you need to learn that distinction. You sound like a bankster to me. Who else would defend this nonsense?

[BeautyHealthZoneBlog]

@jonathanfrate

Oh, and don't even get me started on the salami technique that these banks use to steal small amounts of money form customer accounts knowing that people will not notice. I should know because I have been a victim of this salami technique. Did the bank DO anything? No. I was told they would call me back and they did not, I left it because it was only 12p. But, think of all the customer accounts held and these small amounts of money getting stolen from multiple accounts.

[jonathanfrate]

@BeautyHealthZoneBlog

Regarding the 'salami' technique and your complaint with the bank. What can i say? If you don't like banks, you have options. There are building societies, and other options too.

I don't get mad when a bank charges me 50p for a transaction, the same way I don't get mad when my baker charges me for each loaf of bread, or m&s charges me for each banana I buy etc. That's just business. If you don't like it, change to another business with different charges.

[BeautyHealthZoneBlog]

@jonathanfrate

I am not talking about reasonable charges, I am talking about theft and unreasonable charging. If M&S charges £1.99 for a sandwich, I am not going to go to the cashier on the till and start cussing her out, when I know the set price. I think there is a difference. Your examples were poor.

In terms of the salami technique, the person I spoke to realised there was something dodgy going on and said he would call back, but did not. The phone call was costing me more than the query.

[BeautyHealthZoneBlog]

@jonathanfrate

Wouldn't it make more sense to distribute that money among the low paid frontline staff so that they can get more money and be less likely to defraud customer accounts. Makes more sense to me.

[BeautyHealthZoneBlog]

@jonathanfrate

Also, while we are on the subject, no wonder he can collect a bonus of £20 million. But how about the cashier staff on the frontline, who can expect a measly salary of £12495 per annum? Hmmmmm

[jonathanfrate]

@BeautyHealthZoneBlog

There's a short answer to your question. I wish I could bend it like Beckham. But I can't. So I don't make 40 mil/year and I don't get to bone Posh spice. In the same way, millions of people can work in the front line of a bank. But probably 10 or so in the world can run an organization that big.

It's a free market. They hard bargained. It's not tax payers money. So what concern is it of ours?

[BeautyHealthZoneBlog]

@jonathanfrate

Well, you obviously can't bend it like Beckham, in more ways than one.

Yes, millions of people work in the frontline of banks, of course everybody needs customer facing staff, but why pay them £12,000-£14,000, peanuts, which these greedy CEOs know is clearly not enough to live on. How can one person sleep soundly at night raking in £20 million? It probably explains why the man has those big bags under his eyes...LOL

It concerns me because they overcharge for petty things. Greedy

[BeautyHealthZoneBlog]

@jonathanfrate

Oh, and don't think that I am not aware first hand of how fraudulent these banks can be, behind closed doors. However, I am not here to argue with you about that.

The problem is that people wrongly put their trust and faith in banks. Some very serious crooks are bsed in these organisations.

As someone so eloquently put it on an article I was reading elsewhere, "The FSA couldn't smell a dead rat if it was dangling under their nose". Tells you all you need to know, doesn't it?

[BeautyHealthZoneBlog]

@jonathanfrate

While I'm on the subject, if these cashiers were paid more money they would be LESS LIKELY to:

1) Sell on customer details in order to make some fast cash. If you listened, you would have heard Bob mention that someone stole confidential client/customer information. Also, search "bank cashiers stealing money" and you will see bank staff have stolen money from customer's bank accounts.

2) Less likely to fraudulently steal money from customer accounts (this happens at all banks).

[BeautyHealthZoneBlog]

Well, I certainly enjoyed watching that. Maybe this should be standard procedure for all the banks.

I would have loved to sit in the audience and watch that live.

Chuka is so cute, makes a change to see some eye candy for a change on these news stories!

[jonathanfrate]

@BeautyHealthZoneBlog

1. Chuka may by 'eye candy' but unfortunately he's not 'brain candy'. His questions are meaningless. It's unimportant how many subsidiary companies there are in the Isle of Man or Cayman Islands.

2. You are aware that London is the biggest tax haven in the world right? Why can't the Cayman Islands do what London does? Do as I say not do as I do? How ethnocentric!

3. Why should this be 'standard procedure' for all the banks? This bank is not owned by the tax payer...

[BeautyHealthZoneBlog]

@jonathanfrate

Why do you think it not important for the committee to know how many subsidiary companies they have in the Cayman Islands or Isle of Man, if they are tax havens?

How is London the biggest tax haven in the world? Maybe I missed something.

Maybe what I should have said is, this should be standard procedure for banks bailed out by the taxpayer.

Why do you focus on the eye candy part? What concern is that of yours if I think the guy is cute? None of your business.

[jonathanfrate]

@BeautyHealthZoneBlog

1. London is a tax haven. UK has 'non-dom' tax rules for billionaires - come as a resident, and pay no tax on your global income. Hence Russian billionaires coming here.

2. Barclay has clients globally. If they want Cayman deals for insurance, privacy, or tax planning reasons, if it's legal (which it is), why should anybody care?

2. This bank wasn't bailed out by taxpayers and owes nothing to the government. So these politicos are just grandstanding - cheap points.

[BeautyHealthZoneBlog]

@jonathanfrate

1) London may be the biggest tax haven in the world, for millionaires and billionaires, but for a poor person, it is not. So, I am glad that you clarified.

2) Of course, an International company like Barclays would be expected to have global clients, but don't you think they have a lot of subsidiaries in all these places? 30 in Cayman Islands, 38 in Jersey, 181 in Cayman Islands. Seem to be high numbers, to me.

3) Yes, you have a point. Do you have a stake in Barclays?

[jonathanfrate]

@BeautyHealthZoneBlog

On point #1) I agree. But is that relevant to banks?

On point #2) 181 subsidiaries in Caymans seems 'high' to you? Why? How many subsidiaries do they have in France? Or New York (another tax haven)? My guess is thousands of companies globally. You need to compare the Cayman number to something for it to 'seem high'.

on Point #3) NO I have zero stake in Barclays. But I think the real pricks are the politicians not the banks. They deregulated and caused all of this!

[BeautyHealthZoneBlog]

@jonathanfrate

1) If you recall, you were the one who said London was the biggest tax haven. Remember that was news to me.

2) 181 in Cayman islands doesn't seem high to you? I would understand a few, but 181 seems high to me. So, you don't think it has anything at all to do with tax avoidance?

3) Oh, ok, just thought you had a stake in Barclays from the way you sound, defending them so hotly...LOL..Or maybe you are a bankster? Yes, I think the Government has their part to play in all this.

[jonathanfrate]

@BeautyHealthZoneBlog

1) You agreed London is a tax haven. There are poor in London and Cayman. The point is how can London politicians claim Caymans is 'bad' when London does the same thing. It's throwing stones from glass houses.

2) Tax avoidance isn't illegal. It's different than tax evasion. 181 subsidiaries doesn't seem big to me. If they have 10,000 big clients. It's about 1% of clients who ask for an offshore structure. And? Is that big? I don't think so... Plus they do it all legally.

[BeautyHealthZoneBlog]

@jonathanfrate

1) No, I don't think they are claiming that Cayman Islands is bad. I think they just want to know why they have so many subsidiary companies in these offshore Islands.

2) They do it all legally? Hmmmm, I am sure they do.

Anyway, personally, i don't trust any bankster, corrupt bunch.

[jonathanfrate]

@BeautyHealthZoneBlog

1) I"m not convinced 180 sub companies is a 'lot' in the Caymans. Nor that it means ANYTHING! Remember many subsidiaries would be created for just 1 agreement. Ex. When you buy insurance, the firm may need to isolate the risk per 'sector' so that when it rains in England, a few thousand home insurance claims don't wipe out your life insurance as well. Let's just agree it's more complicated than 'AHA! 180 subsidiaries!

2) The politicians are the real idiots in my mind.

[jackvincent90]

why is the bearded man picking his nose, wtf is he doing?

[jonathanfrate]

Great responses by Bob Diamond.

The political wanker doesn't fully address the rebuttal point about Canary Wharf. Why is it OK for the UK and London to be a tax haven (hello billionaire non-doms), and not okay for Cayman Islands or Jersey pursue the same policy for building their own financial industry?

These British politicians (Labor and Tory) harping on the banks are just grand standing. Last I checked, it wasn't the banks that took the country to Iraq and Afghanistan and blew the budget!

[eDemocracyUK]

@jonathanfrate " it wasn't the banks that took the country to Iraq and Afghanistan and blew the budget"

== check again.

[jonathanfrate]

@eDemocracyUK

Yes I checked again. RBS didn't take UK to Iraq, it was that 'labour' wanker Tony Blair. The banks had nothing to do with it. Nice try though.

[eDemocracyUK]

@jonathanfrate "it was that 'labour' wanker Tony Blair. The banks had nothing to do with it."

= Tony Blair attended Bildeberg meetings. These sorts of people associate with the likes of JP Morgan, who's a financial giant and director of Boeing, the 2nd largest weapons manufacturer in the World. People like Rockefeller, whos family encouraged the growth of the nazi regime along with Prescott Bush.

The war on terror is only different because its a war against people, not countries.

[jonathanfrate]

@eDemocracyUK

Ah yes the Bildeberg meeting. How could I forget that conspiracy theory? Okay let's not forget for good measure. This guy drinks coffee. Hitler drank coffee. End of conversation! You're right, this guy rules the world.

[stuanemma]

I'm very sure that you're going to leave bob diamond there....

[dopeskies]

Corporate GIMPS

[MikefromMadrid]

@dopeskies

doleite?