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    Barclays bank and their "industrial" tax avoidance systems.

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    papa_umau
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    Barclays bank and their "industrial" tax avoidance systems.

    Post by papa_umau on Mon 11 Feb 2013, 12:17 pm

    I have little time for Barclays bank - as I have with most of the banks - but I think that Barclays, in particular, are one of the worst banks on and off the high-street for fiddling their business and their customers.

    It has already been proven that Barclays were guilty of helping to rig the Libor bank-to-bank lending rates and they are expecting some very big fines from British and American watchdogs because of this scandal.

    Now it seems that one special branch of this bank have been getting into the business of tax-avoidance in a very serious way, generating billions of pounds out of this small section.

    This scandal and other interests of Barclays bank can be seen on BBC1 tonight at 8-30pm in the Panorama programme.

    Find out more about this programme HERE and if interested, come back and tell us what you think about this racket.


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    zathrus
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    Re: Barclays bank and their "industrial" tax avoidance systems.

    Post by zathrus on Thu 14 Feb 2013, 1:04 pm

    I think that at the top they are all the same as these people are driven by the maximising of profits in any way that they can.

    What needs to happen is that the FSA need to get more teeth and be prepared to use them as we cannot trust the banks to regulate themselves.
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    papa_umau
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    Re: Barclays bank and their "industrial" tax avoidance systems.

    Post by papa_umau on Fri 15 Feb 2013, 12:12 pm

    That is very true Zath'.

    The strength of the Financial Services Authority, or ( FSA ), has been improved but it is still too weak to do what really needs to be done to not only properly regulate the banks, but to make them afraid of what the FSA could do to them if they wanted to.

    At the moment, under the auspices of the Tory-coalition government the banks are still getting away with murder, as this government , ( just like under the Thatcher years ), do not want to be seen to be bullying the banks in order to make them behave themselves.

    That's simply the way of the Tory beast I am afraid !


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    Re: Barclays bank and their "industrial" tax avoidance systems.

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