The Ethics of Banking

We are rather a tolerant people. We tolerate the Chief Executives of large banks receiving huge sums of money , ostensibly as wages, when any analysis shows that they are actually doing their jobs very badly and frequently do not deserve even a fraction of what they are paid. Paying people much more than they are worth is a feature of tolerance and sometimes the distinction between tolerance and stupidity becomes very hard to discern.

It is said, rightly, that a fsh rots from its head. The chap running Barclays Bank is being paid around £5 million a year, one way or another. The bank has indulged in various criminal and quasi criminal activities which have harmed many people and forced many people to lose either their businesses or their fortunes by following the “advice” provided by Barclays. If the Chief Executive was now acting in ways to remedy the damage that the bank has caused, it he might be deserving of some financial recognition, because that necessary task is very hard to do. Instead the Chief Executive has organised a system under which every claim is being fought by the bank tooth and nail with the bank erecting as many traps and obstacles as it can devise to postpone defer delay or defeat just claims for compensation.

It seems that these bankers talk with forked tongues, although they do talk very well and write very well too. These are the principles to which Barclays claim to adhere.

Ensuring good financial outcomes for our customers and clients is fundamental to the way Barclays conducts business and core to our strategy. We proactively consider the impact of our strategy, products and services, and how they are sold and managed, on customers and clients and we consider and identify any risks of poor outcomes for them.

Our culture places customer and client interests at the heart of our strategy, planning, decision-making and judgements

 We do not disadvantage or exploit particular customers or clients, customer segments, markets, or distort market competition inappropriately

 We identify potential/emerging problems relating to our conduct proactively and intervene before they crystallise by managing, escalating and mitigating issues promptly

 We provide customers and clients with products and services that serve their interests

This is splendid propaganda of which the late unlamented Dr Josef Goebbels would have been proud.   


4 Responses


  2. Everything is not as it seems.

  3. The grand plan and promissory note the Templars introduce for their masters and design which use air as it currency, one that we cannot and never will see.

    Part not with your children at birth by certificate and trade your labour at a global even and then you will be free of the fiat that does not exist.

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