Bob Diamond
I used to think I lived on planet Earth. The third planet from the Sun, but, apparently I live on another planet called Casino, in which peasant gamblers – such as myself – place bets and win or lose on those decision. If we fix a game or market we are liable for arrest and convictions.
However, if you’re a banker then these rules do not apply. You can make major bets – without having the money. Lose those bets and the governments give you back the money you lost, enabling you to get a bonus so you can continue living the lifestyle you want. If you manipulate the markets in collusion with other bankers and get caught you get a fine which is nowhere near the money that you made and therefore can keep!
For some people this is outrageous but for a small group of people this is entirely legitimate and any complaints about the voracity or morals of this are looked upon as stupidity and not even worth investigating by any authorities which may lead to preison sentance. Why do criminals and gangsters continue to rob banks and sell drugs I don’t know? Just set yourself up as a banker and take as much money as you want.
Mr Bob Diamond has just done the second of this scenario and has almost admitted he did it, yet he is not even worried about going to prison or being investigated for massive corruption, conspiracy to defraud and just plain stealing. Yet many many people have lost their houses, businesses and more due to his sanctioning of criminal behavious. In fact he wanted a bonus for this and was only stopped when shareholders were upset that he got found out and therefore they lost £290 million!
So the next time you see a young thug or drug dealer creating havoc to make a few quid. Have a word with him and gently persuade him to become a banker and genuinely see if he can steal money from fixing interest rates or betting on housing bubbles is a more lucrative way of robbing without the downside of being shot in the head or getting a jail sentence.