Barclays Share Discussion Threads

[chris coxon] 27/12/2016 15:15

'Breaking news' A Mr Portside from Barking has been duped out of life savings by latest Irish potato scam.

[chris coxon] 27/12/2016 15:10

porty - are you telling us in a round about way that you have been scammed!!!

'warning to all investors be aware of corruption in southern Ireland more boiler rooms than in the rest of the world . more crooks than in the mafia world wide .
avoid all irish financials .you have now been warned of the crooks .

the boiler room country of crooks'

[johnwise] 26/12/2016 18:08

Barclays awarded in Middle East

Dubai - For the third consecutive year the asset management publication Global Investor has named Barclays as Wealth Manager of the Year in the Middle East.

[grandeur] 26/12/2016 16:46

Happy New Year Portside, keep your great posts coming

[grandeur] 26/12/2016 16:46

Happy New Year Portside, keep your great posts coming

[philo124] 26/12/2016 16:32

Nope, many were sold on.

[qantas] 26/12/2016 16:29

portside 1 Thank you and wishing you a very Happy New Year 2017

[portside1] 26/12/2016 16:08

warning to all investors be aware of corruption in southern Ireland more boiler rooms than in the rest of the world . more crooks than in the mafia world wide .
avoid all irish financials .you have now been warned of the crooks .

the boiler room country of crooks

[diku] 26/12/2016 11:27

So didn't the buyers of these so called fraudulent schemes do any due diligence?..

[philo124] 26/12/2016 11:21

The mortgage securities fraud was manufactured in USA, neatly packaged and exported by the US to the rest of the world. Lending $250,000 to California grape
pickers and then bundled up and sold to foreign banks was the scam of the century.

[diku] 26/12/2016 10:47

So who were these Barclays personnel repeatedly misrepresented the characteristics of the loans backing securities?...name them & where are they?...


The US Department of Justice said: "From 2005 to 2007, Barclays personnel repeatedly misrepresented the characteristics of the loans backing securities they sold to investors throughout the world, who incurred billions of dollars in losses as a result of the fraudulent scheme."

[extrovert] 26/12/2016 10:07

Our special friends looking to try and rip another U/K bank off while being lenient on their own.

[extrovert] 26/12/2016 10:04

The US Department of Justice is suing Barclays for alleged mortgage securities fraud.
It claims that Barclays misled investors about the quality of loans backing securities in the run-up to the financial crisis.
Barclays rejected the claims, saying they were "disconnected from the facts".
The banking giant is among a number of European banks that have been under investigation by US authorities.
On Friday, the US said Deutsche Bank had agreed to pay $7.2bn to settle a mortgage investigation.
The US Department of Justice said: "From 2005 to 2007, Barclays personnel repeatedly misrepresented the characteristics of the loans backing securities they sold to investors throughout the world, who incurred billions of dollars in losses as a result of the fraudulent scheme."
It said it could seek civil penalties up to the amount that Barclays gained, or that investors lost.
Federal prosecutors said that as part of the alleged scheme Barclays sold $31bn in securities.
More than half of the mortgages backing the securities defaulted, the suit alleged.
Investors included "credit unions, pension plans, charitable and religious organisations, university endowments, and financial institutions, among others" said Robert Capers, the chief prosecutor in the Eastern District of New York.

Unlike in some other cases against major institutions, the Justice Department has chosen not to seek a mutually acceptable resolution.

Barclays said: "We have an obligation to our shareholders, customers, clients, and employees to defend ourselves against unreasonable allegations and demands.
"Barclays will vigorously defend the complaint and seek its dismissal at the earliest opportunity."

[johnwise] 26/12/2016 07:11

Donald Trump told the New York Economic Club, “If we save just one penny of each federal dollar spent on nondefense, and non-entitlement programs, we can save almost $1 trillion over the next decade—again this is spending that does not touch defense, and that does not touch entitlements.”
Video

[qantas] 24/12/2016 10:11

Well done Barclays for showing strength and not giving in to prosecutors.

Prosecutors allege that Barclays repeatedly deceived investors while selling $31 billion of mortgage-backed securities a decade ago, before the housing bubble popped. The bank rejected the government’s accusations in a statement, calling them “disconnected from the facts.”

A May appeals court ruling against the U.S. in a case involving Bank of America Corp. may have given Barclays hope it will prevail in court. In that case, a panel threw out a judgment of almost $1.3 billion against the U.S. lender for selling defective mortgage loans, ruling the government hadn’t shown “fraudulent intent.” Lawyers for Barclays brought up that decision in settlement talks, two of the people said. They also argued that of the 36 securitizations identified by prosecutors as problematic, the bank itself was an investor in 31 of them.

[warranty] 23/12/2016 12:30

I don't see why this makes a difference, it was well known this was coming so should already be in the price. Porty, I have both Barcs and CNA so should be ok either way. Have a great Christmas all and a prosperous 2017.

[mercer95] 23/12/2016 12:28

I'll settle for a spanner in the works, it felt like the Death Star had turned up this morning but no big sell off, I'm with astol, hopefully won't go to court, having an American in charge is a bonus & Barclays have got some money set aside to remove said spanner.

[diku] 23/12/2016 10:06

That case has put spanner in the works...

[qantas] 23/12/2016 08:59

Merry Christmas and a Prosperous 2017 xx

[astol] 23/12/2016 08:23

Well Bloomberg suggest that Barclays took over Lehman officially in 2009 and that any wrong doing they can flatly deny their involvement ie it was Lehman Bros not Barclays-well that's how I read it.They may end up settling on the steps of the court rather than going through the whole process

[clond] 23/12/2016 08:11

You widing diku up - he's obsessed with lehmann brothers.

[montyhedge] 23/12/2016 07:56

DikuYou are right, yanks still smarting over Barc nicking Lehmans on the cheap.

[montyhedge] 23/12/2016 07:47

Going to get hammered if they put up a fight and lose, a fine I expect would be more.