Category Archives: PPI

SME Alliance meetings at EMM Law and Metro Bank. A really brilliant day!

IMG_8976Yesterday was a double whammy for SME Alliance – we had a morning meeting sponsored by EMM law http://www.emmlegal.com/meet-the-lawyers/kate-mcmahon/ on the subject of Private Criminal prosecutions and an afternoon meeting sponsored by the Metro Bank. I didn’t attend the morning meeting (no room at the inn) so I can’t say a lot except we’ve had some really good feedback and we’d like to thank Kate McMahon and her team at Edmonds Marshall McMahon for their hospitality and for explaining how the process of Private Criminal Prosecutions works. Hopefully Andy Keats, who set the meeting up for us, will blog about it in the very near future.

The afternoon meeting at the Metro bank also went brilliantly. Derek Granville, our host, was our first speaker and he explained both the ethos of the Metro bank and the way they work. Two things in particular were music to the ears of our members. First – they don’t want to sell you financial products. So no PPI, no swaps and no other dodgy, so called, insurance. Secondly the Metro Bank is completely deposit funded and there is no wholesale funding. So they are not reliant on the ‘money market.’ Sophie took loads of notes of the whole meeting and we will post all the main points Derek made as soon as she has typed her notes up. But I can say a lot of us were very impressed with what Metro bank has to offer and it does seem like they are bringing back old fashioned banking where you know who you’re dealing with and what you’re dealing with.

IMG_9015Our second speaker was Andrew Hilderbrand http://gunnercooke.com/team/andrew-hildebrand/ who is a mediator. And whereas the word ‘mediation’ means an alternative form of bank bullying to some of our members, Andrew very eloquently put the case for positive mediation. As many members pointed out, it’s not always the case you can get a bank to consider positive mediation as they’re used to having everything on their terms. However, tying this in with our report to Andrea Leadsom where we suggested ‘FOS Plus’ would require banks and clients to ‘mediate’ early on in the process of dispute resolution, Andrew’s brand of very successful mediation would work very well. Will blog in more detail soon – or better still I’ll ask Andrew to blog.

Our last speaker was Lindsay Whitelaw from Urica. This company offers a very different type of factoring. I have never thought much about factoring except when people call to talk about Bibby (which they often do) but what Urica is offering sounds very different and very positive. The difference with ordinary factoring is Urica requires no personal guarantees and only checks the credit worthiness of the creditor. Anyone who uses factoring services should check Urica out: https://urica.com/ As their website says – “It’s not invoice discounting because that’s just debt by another name.” So it’s an interesting concept and a very new business model.

IMG_8990

Overall it was a great meeting with many new faces including people I’ve been talking to for years about HBOS, Lloyds, bank fraud, SME issues, but I’ve never met. And both Jon and Nick invited some interesting guests. But as always it was really great to see all of our founder members there. I know some people came from Scotland, Wales, the West Country and the North of England. Thank you all for making the effort to travel so far to join us. And thanks also to the two new members who felt it was so positive they have offered to sponsor us.

I will blog again over Easter in more detail but, if I don’t get another blog out before Easter Friday, Happy Easter to all and many thanks for your support. Who would have thought we could achieve so much in such a short time???

p.s I don’t know what time everyone left the Shakespeare’s Head where networking was still going strong when the Turner crew left about 7.00pm but I’m guessing Weatherspoons like SME Alliance!

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Apathy International. Does anyone really expect HSBC or wealthy tax evaders to be prosecuted?

I had an interesting conversation on twitter last night with someone I don’t know from Canada – although I think he is British. The very topical subject was “why are wealthy people guilty of tax evasion not prosecuted?” And right from the start of the conversation my twitter friend, let’s call him Bill, made the point that in his view it would cost so much money and take so much time to prosecute them all, it would be counter productive. The cost would be more than the gain.

Bill is probably right. Tracking down the thousands of people identified by the Swiss Whistle blower (and let’s face it, as he says, his list is the tip of the iceberg) would cost a fortune and would probably result in very lengthy criminal trials where the only beneficiaries would be the lawyers. And Bill compared the situation to the gun amnesty used in the US. Hand in your unlicensed gun and we’ll say no more about it. Here the equivalent would be throw the tax man a few thousand pounds voluntarily and we’ll call it a day. I say a few thousand because, in the same way it wouldn’t be cost effective to prosecute these people, I can’t imagine HMRC have the manpower or even the will to do full on investigations into how much is actually owed?

My point was (and is) even considering the logistics of this situation, how can a democratic country ditch the law in the case of one section of society because it’s not cost effective to enforce law? Tax evasion is against the law and nowhere does it say “unless you are part of a rich minority who has been advised by your bank to shunt your money offshore.”

I also made the point HMRC will go through hell and high water to prosecute so called benefit cheats or even people on low incomes who may have been overpaid and then can’t pay it back. Similarly SMEs will be hounded for perceived VAT or tax issues and, if the man in the street doesn’t get all his tax returns in precisely on time and to their satisfaction, HMRC will be very efficient in sending out demands for what they calculate is owed or hefty fines. They also have no compunction about prosecuting for a few hundred pounds if they feel it is due. And that happens to thousands of people.

Bill made the point it doesn’t make any difference whether you cheat the tax man of £50.00 or £5M – it’s still against the law. I agree. So why do I have this horrible feeling you are less likely to be penalised for the £5M than the £50? And the same seems to be true of money laundering or other economic crimes. Big banks money laundering for drug cartels just get hefty fines paid by their shareholders but no one goes to jail. Here’s an extract from my book about HBOS (to be published in the dim and distant future) on these criminal but curiously acceptable transactions:

And by the way, how does that happen? It’s common knowledge now that certain banks have done these totally illegal deals and, yet again, no one in any bank is to blame and instead, the shareholders have paid massive fines as a penalty for bankers conduct. But if no one’s to blame, how do the deals get done? Do the bosses of the drug cartels phone a special ‘money laundering’ call centre and listen to an anonymous voice giving various options: “Please dial 1 for drug deals, 2 for arms deals or 3 for off shore tax evasion. To hear these options again, please dial 4.” Or do the Banks have departments which deal specifically with these ‘dodgy transactions’ and where the staff work in the secure knowledge no one will ever go to jail for criminal deals because bankers are above the law?”

Then there’s other proven fraudulent products like IRHP – another fine. Out and out asset theft from SMEs – another fine. PPI, EFG, SFLG, it’s becoming like a game show – think of an acronym and the contestants get to guess the appropriate meaning and the applicable fine. Winner gets two weeks in the Caymen Islands all expenses (and of course taxes) paid by the FCA. But if you or I were to commit any deliberately fraudulent act to turn a quick profit, you could expect and get the full force of the law to come into force.

However, taxes and financial crime aside, what really disturbed me about my twitter conversation which, by the way, I thoroughly enjoyed because I love a good debate, was the apathy involved. While Bill agreed with me we shouldn’t have a two tier justice system, his very logical approach was, as Tony Soprano would say, wattayagonnado? We are where we are and there’s little we can do about it – apparently.

I am pretty sure the members of SME Alliance would not agree. Most of them (me included) have been victims of the many and varied banking scams which have devastated SMEs. Most of us have been fighting for justice for what seems like a lifetime and sometimes pretty much is and we are, putting it politely, extremely angry at the way banks, who have caused us so much damage, are never penalised except with shareholders fines. Neither are they obliged by the regulators to repair the damage done. So when we hear about people with very healthy off shore bank accounts, organised by their bank, becoming immune from prosecution, we are anything but apathetic, we’re furious. It’s another slap in the face of the British justice system and another reason we are losing faith in it.

But, being honest, I think back to my life before the consequences of fraudulent bankers and their associates kicked in – was I even aware of our two tier justice system? Admittedly inequality has got worse since the so called credit crunch but, if my business hadn’t been sabotaged and had instead fulfilled its full potential and made millions of pounds, would I be seriously concerned about the conduct of the likes of HSBC and its tax dodging clients? Would I be calling for prosecutions? Or would I be taking the rather detached and very logical approach Bill takes?

We have a saying in our house, “you can’t not know what you do know.” And that’s a shame because the things I now know after 7 years of investigating bank fraud and social injustice, very often stop me sleeping at night. I didn’t sleep much last night thinking it’s possible a massive segment of society may be so oblivious to what is happening to democracy or, more likely, just trying to get on with their own reduced circumstances in austerity Britain, they don’t even care about off shore accounts in Switzerland or Monaco. But I think (or should I say I hope) I would have been aware, albeit to a lesser degree, of the increasing dangers our democracy faces even if I hadn’t experienced the consequences personally. I’m a lyricist and a poet and I grew up listening to Bob Dylan and Joan Baez – so the spirit of protest has always been there. But who knows? As long as the comfortable remain comfortable, will they rock the boat? Hmmn. While apathy is, on the one hand a powerful tool for the State, it’s also a powerful tool for the individual conscience.

“If there is nothing I can do about injustice, no one can blame me for doing nothing.” It’s a scary concept but one that has helped permit every shameful human catastrophe.

Anyway, I don’t know what the resolution is to the HSBC tax evaders or the many other tax evaders who were no doubt advised by other banks. Quite frankly, I think those banks must be bricking it in case their own whistle blowers come forward. I agree with Bill, it is impractical to think HMRC can or will prosecute all of these people. But, and remembering this year sees the 800th birthday of the Magna Carta, if we are truly a democratic society, I cannot see how Government, or the appropriate authority, cannot prosecuted them? After all, one person has been prosecuted and surely that has set the precedent? And what was so special about that case? Seems a bit harsh – thousands do it but only one pays the price.

I wouldn’t like to be running this Country. Whatever good intentions any of our politicians have, there seems to be an endless barrage of obstacles in the way of good governance and most of those involve the necessity to compromise and close their eyes to the kind of corruption that is swamping the Country. Hard, I imagine, not to just go with the flow for the 5 years they are in power. And hardest for those in power as opposed to those in opposition where it’s easy to shout foul (especially if you have a short memory)!

If anyone thinks they have the answer to the current problem – is it possible to prosecute every criminal act in the financial system and the associated activities like tax evasion, I’d be happy to hear it and I’m sure many politicians would as well. If we did take this route, we’d have to build a lot more prisons because financial crime, without doubt, is more epidemic or contagious than the flu and we have no jab for it. We seem to have no cure for corruption.

I leave you with a poem I wrote in 2003. I rarely inflict poetry on my blog readers but this one seems entirely appropriate.

Apathy International

I am a member of

Apathy International.

I am working my way up in the company

and should shortly become

a bored member.

Membership was free

and just slipped onto my shoulders

during a raging storm,

like a comfortable old raincoat.

The effects are almost unnoticeable

as is everything else now.

And, as in all such large organisations,

only non members receive active attention,

so I fully expect to disappear completely and painlessly any day now.

(Which I really can’t worry about).

But late at night I wake up

terrified

as a distant but unfiltered image of raw gaping wounds stabs me

and I can hear the hideous cackle of the devil’s favourite shareholders

and I recognise the voice of our beloved CEO crooning

and I think I will implode with panic.

But in the grey reasoned morning light

I think –

what could I do? Nothing.

So I don’t –

except to gently fondle my membership badge.

© Nikki Turner 2003

If you don’t identify the crimes or the criminals, you don’t have to support the victims.

There was an interesting article in the Guardian today on the subject of Lady Newlove’s report into the lack of support for victims of crime. http://www.theguardian.com/uk-news/2015/jan/27/victims-crime-let-down-criminal-justice-newlove I agree with her entirely – there is very little support. Equally interesting was the comments below the article.

For example, someone posted we are all more likely to be victims of financial crime than being mugged in the street. I would agree because PPI, IRHP, LIBOR rigging, asset theft (GRG) and various other fraudulent schemes, all have their victims – not that I am in anyway decrying the horrific consequences of violent crime.

However, there is a huge problem when it comes to financial crime. First and foremost, it is rarely classified as crime. It has various bogus titles and the most common is mis-selling. Also, financial crime is a political animal and as such, it seems to feel it is reasonable it should fall outside of the boundaries of common law. It shouldn’t do but it does. This is probably because any major case exposing the horrendous corruption in our financial system would have far reaching political and economic consequences. Not only would it risk serious ‘Brand protection’ to financial institutions, it would also damage UKPLC. Therefore even if you report serious and fully substantiated financial fraud to the police, you are unlikely to get an investigation – so you are unlikely to get a result.

Anyone challenging this view should consider why, when Banks are found guilty of money laundering for drug cartels, or of rigging LIBOR (which affects everyone), or of selling fraudulent products to consumers and SMEs, the answer is invariably a huge fine paid by the Bank shareholders? But no one goes to jail.

Occasionally and if you are incredibly persistent, the police will open an investigation into specific crimes by bankers or their associates in the financial system and, I can say from experience, that despite the initial euphoria victims may feel when this happens, what follows is a long drawn out process which gives little or no consideration to victims or to the consequences of those crimes. And while I adhere to the theory of “every man is innocent until proven guilty,” a justice system which takes years and years to bring cases to trial means that some victims, suffering badly from the effects of a crime, will have their lives on hold for an indefinite period. Some die before they ever see justice and that is a fact. “Justice delayed is justice denied.”(See below)

Take for example the case (which I won’t name for reasons of sub judice) where some 80 SMEs were first defrauded and then destroyed by employees and associates of a High Street bank. This was first exposed by the victims in 2007 but the police refused to investigate because the bank concerned assured them there was nothing to investigate. However, in 2010 and under the radar, a different police force did start an investigation. By the end of 2010 several people had been arrested but no one was charged until 2013. The trials for those people charged with assorted serious crimes were due to start in January this year but have now been put back to September and will finish in 2016 – if they happen at all. 2007 to 2016 is a long time to wait for justice. Three people have died while waiting.

The victims have lost their businesses, therefore their livelihoods and in many cases their family homes. They are all due compensation – but that won’t happen until after the trials as the management of the bank concerned are adamant no crime was committed (even although the Bank was the biggest loser of all) and the police have spent a fortune of public money on a witch hunt.

In the meantime there is little communication between the police and the victims except for the odd brief e-mail. The victims are dissuaded and even threatened not to attend any case management hearings – so they don’t know how the case is progressing (or not in this case) and if ‘victim support’ are aware of this crime, they haven’t acknowledged it. I know most of the victims – I don’t know any who have had any support.

The defendants on the other hand, are kept fully briefed by their legal teams (some of whom are paid for by legal aid), they continue to work or trade their businesses (which haven’t been destroyed) and some have requested and been given their passports back as and when they want to go on holiday abroad. Fair enough, they have not been found guilty as yet.

My point – most people in this Country are asking (quite reasonably) why bankers, who have already been found guilty of various crimes for which their shareholders have been penalised, have not been charged or gone to jail? I would say it is because the majority of the really serious crimes had to have happened with at least the knowledge and possibly the authorisation of those at the top of the Banks – not to mention key figures in associated ‘professional’ firms. But if Governments (via the justice system) start admitting our banks have been and are being run by criminals, it would destabilise our much loved financial system. So, even where a case does slip through the radar and bankers are charged with crimes, the main consideration seems to be how the authorities can limit contagion and, if possible, stop these trials actually going to Court. A valiant attempt was made to stop Operation Cotton and therefore other big financial fraud and VHCC (very high cost cases) from proceeding, via the legal aid débâcle. Fortunately it wasn’t successful.

And the victims? Well, better a few victims fall by the wayside than we tarnish the City of London. But actually it’s not a ‘few victims’ because we are all victims of financial crime and we are all paying the price (national austerity) while the charade goes on. And what a charade it is – after all that has happened and after banks brought world economies to their knees, top bankers demand and still get millions of pounds a year. And once a year they head off to Davos with the great and the good, to decide our economic future for the following 12 months. It’s not just illogical and unethical – it’s bonkers.

Great to see Lady Newlove has written a report and identified the lack of support for victims but, in the case of financial crime, which has reached epidemic proportions in the UK, the biggest hurdle to our justice system is a refusal to identify the criminals. Cost effective and sneaky but not democratic.

  • On the subject of “justice delayed is justice denied” and while I was looking for the origins of that quote, I randomly came across an extraordinary dark example of how this statement is sometimes abused by the very authorities we rely on for justice. The case is nothing to do with financial crime and the victim in the case is the accused. And this highlights yet again how important it is to democracy that justice is seen to be done and in a timely manner. I would say in too many cases, it isn’t. http://www.innocent.org.uk/cases/Karl%20Watson%20-%20Woffinden%20art.pdf

Christmas 2014 round up of financial crimes with no one going to jail.

My husband made a very valid point a few days ago and I have been thinking about it every day since. He pointed out that when we (Paul and I) started looking at misconduct in the financial industry and specifically HBOS, we couldn’t get anyone to take our allegations seriously because no one believed us. That was in 2007 and it took until late 2009 to actually get the FSA involved and 2010 before the police got involved – even although we made allegations to the police in November 2007. We’re not a lot further forward now in December 2014 because the criminal trials for that alleged crime won’t start until September 2015 – and even then, I’m not holding my breath.

It was disappointing no one believed us in 2007 but not surprising because the idea banks, or rather bankers, might be crooks, was out of the question back then. Bankers were seen as respectable professionals and your bank manager was so trustworthy, he or she could even sign your passport. The same doesn’t apply now and no one bats an eyelid at the concept of crooked bankers – in fact bad conduct is what we expect from them, to the point even the good guys (yes I do acknowledge there are still many good bankers our there) are tarred with the same brush.

Paul’s point was simple: It was tough back in 2007 because no one believed us, so nothing was done. Now, everyone knows the financial sector is rife with fraud and corruption and still nothing has been done! Not just in the case we reported – right across the board and in thousands of cases. Even more alarming is the fact that, in many instances I know of, where people have tried to report financial crime, the police will not investigate it! In all probability this is because they don’t have the budgets to investigate such a glut of criminality in austerity Britain – but that is of no help to the victims who are frequently told – “it’s a civil matter.” No it’s not – crime is never a ‘civil matter’ and even victims of PPI have a right to report it as a crime, get a crime number and, if applicable, also have it investigated. Of course that might damage crime statistics.

But no. Most financial crime is just swept under the carpet as “mis-selling” or “restructuring” and resolved by bank shareholders’ paying huge fines to the FCA. Think about that for a moment – we all believe bankers have committed criminal acts but nothing has happened. It just beggars belief and is really as scary as hell because, what it actually means is, we can no longer rely on the Law and really do have a two tier criminal justice system. There isn’t another, plausible explanation.

This terrifying thought was brought home again when I read the latest excellent Matt Taibbi article in Rolling Stone magazine: http://www.rollingstone.com/politics/news/the-police-in-america-are-becoming-illegitimate-20141205 where he is talking about the disparities in the US legal system and it reminded me that I still haven’t had a reply to my letter to Mr Cameron of December 2012 when I asked for some clarification about the apparent immunity bankers have from prosecution. In that letter, which I wrote after reading some worrying comments from Andrew Bailey (now head of the PRA), I said:

Mr Cameron, unless I am completely mistaken, Mr Bailey seems to be telling us that banks, and therefore bankers, are now officially considered to be above the law in this country and that, in the interests of confidence in the banking industry (which is already at rock bottom among the British public, and therefore can hardly sink any lower), they cannot be prosecuted.

I am writing to ask you, as Prime Minister, for some clarification.

Does your government endorse the notion that banks and bankers should be given a licence to commit criminal acts without any fear of prosecution? Is this now official government policy? Are the British public now being asked to accept that, despite incontrovertible evidence of multiple criminal acts by banks, including money-laundering, drug-money-laundering, Libor rigging, multiple frauds and assorted Ponzi schemes, bankers are considered to be immune from prosecution? And if so, can I ask on what grounds your government, or indeed the government of any democratic country, can justify such a policy?” Full letter here: http://www.ianfraser.org/dear-mr-cameron-if-bankers-are-above-the-law-we-need-an-urgent-explanation/

I didn’t write the letter to be confrontational – although I must admit I am incredibly disappointed the PM’s strong words in the run up to the last election about what should happen to criminal bankers, turned out to be hot air and no more. This is what he said to Jeff Randall in January 2009:

“I think that we need to look at the behaviour of banks and bankers and, where people have behaved inappropriately, that needs to be identified and if anyone has behaved criminally, in my view, there is a role for the criminal law and I don’t understand why is this country the regulatory authorities seem to be doing so little to investigate it, whereas in America they’re doing quite a lot.”

I wrote the letter because I genuinely wanted some reassurance from the Prime Minister that bankers are not above the law; we don’t have a two tier legal system and; something would be done to redress this inequitable situation.

So what has happened to clarify or allay my concerns since December 2012? Well a few things have happened but not what I was expecting. For example:

  1. I’ve never had a reply.

  2. Several banks have been found guilty of money laundering and even money laundering for drug cartels. And the only penalty has been a huge tax on the bank’s shareholders who have paid massive fines for the conduct of bankers. But no one has gone to jail.

*given that banks (buildings or legal entities) don’t have any physical ability to pick up the phone and negotiate with drug cartels – such deals had to be done by bankers. So why have no bankers been held responsible?

  1. Many banks have been found guilty of making billions of pounds with the PPI scam. They’ve had to pay the money back in many cases but, I assure you, not all cases. So again, the shareholders have lost a fortune. But no one has gone to jail.

* I often wonder who invented PPI? Did senior bankers sit down and plan how best to get thousands of their customers to take out insurance policies which cost them a fortune but could never be used? Or did someone in a bank find a recipe for creating and implementing PPI in a fortune cookie?

  1. As a founder member of SME Alliance, I talk every day to people whose businesses have been totally destroyed with various, ridiculously (and I would suggest deliberately) complicated financial products under the collective name of swaps. I’m not a victim of a swap and I know little about them (I’m learning fast) but even their titles smack of more contempt for businesses e.g. vanilla swaps. Can you have chocolate or strawberry? Probably. The FCA have said many of these products should never have been sold to ‘unsophisticated’ clients and in some cases banks have had to give the money back. However, the years it has taken for this to happen and the devastation these products have caused, apparently do not necessitate banks having to pay out billions in compensation. The redress scheme the FCA has come up with has conveniently been limited to peanuts – and no one has gone to jail.

* A journalist was telling me the other day of a case where someone challenged the FCA decision multiple times and was eventually awarded £500k – but of course the bank interest and charges on his account over the time it took to challenge the bank’s conduct meant the victim got nothing and the bank paid themselves £500k. You couldn’t make it up.

  1. The now infamous business recovery units like RBS/GRG have been merrily acquiring, appropriating, stealing their clients’ assets left right and centre and sadly RBS have not been working in isolation. It has caused outrage – it’s been all over the news, MPs have held debates on the subject, Committees have interviewed senior bankers and regulators and even the ever cautious BBC have suggested some bankers are crooks. http://www.bbc.co.uk/programmes/b04t6jy1 But no one has gone to jail.

* As a victim of HBOS Reading (similar model) I have so much to say on this – but am having to keep quiet for now but not forever.

  1. And while the likes of GRG and HBOS Reading have caused many businesses to fail, a separate scandal has specifically targeted farms across the Country for over 20 years. Repeated allegations have been made against a man called Des Phillips and various of the 59 companies he has been or is a director of including UK Farm Finance, UKCC and UK Acorn Finance. And some of our major banks have been heavily implicated in these allegations as have other ‘professionals’. It’s a sickening story which has resulted in many family farms being repossessed and, sadly, farmers committing suicide. You can hear about it here: http://www.bbc.co.uk/programmes/b040hzz5 or read about here: http://www.publications.parliament.uk/pa/cm201415/cmhansrd/cm141111/halltext/141111h0001.htm No one has been prosecuted so no one has gone to jail.

  2. Bankers or traders have been found guilty of rigging LIBOR. Again, massive fines have been levied – another penalty on shareholders. However, in this instance it looks possible some bankers will go to jail and one banker has even pleaded guilty. But let’s not get too excited that justice might be done. Read this: http://www.theguardian.com/business/2014/oct/07/banker-pleads-guilty-libor-rigging-rate-fixing

As you can see the banker concerned could get up to 10 years in jail but we don’t know who he is or what bank he worked for and reporting on this case is heavily restricted. Presumably, after the other three people charged have had their trials, we might know more. But I wouldn’t bet money on it – especially if the banker in question worked for one of the State subsidised banks. But it’s a start.

I could make the list much longer but, to date and looking at the 6 instances above, money laundering, PPI, Swaps, asset theft including farms and LIBOR rigging, it’s certain 1 person in the UK will go to jail and 4 people might. And when you look at the trail of poverty, misery, desperation and devastation these crimes have caused, it is unbelievably disappointing – not to mention scandalous, that our regulators, justice system and worse still, our Government, have let this happen. In fact it is morally and ethically reprehensible.

Of course individual bankers do go to jail quite regularly – they’re usually quite low down in the pecking order and their offences (with a few noticeable exceptions) just about make it into their local newspapers. But the top dogs – the ones who make policy – the ones who instigate and oversee the kind of conduct which allowed all of the above to happen, seem to remain above the law. Which begs the question – why do we have laws?

Meanwhile, the Government have issued the following figures regarding crimes to businesses:

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/284818/crime-against-businesses-headlines-2013-pdf.pdf

I haven’t read it in any great detail but I’m pretty sure it doesn’t mention the wholesale destruction of SMEs by banks. I sometimes think we should move the Houses of Parliament to Canary Wharf and have done with it before La La Land spreads across the whole of London.

Here in the real world we are in the run up to what will be another very austere festive season for many people in Britain – and I’m not just talking about people or SMEs who have been defrauded by banks. I’m talking about those families who’ve lost jobs and/or benefits and most of all, those people relying on food banks or who have lost their homes and now live on the street. A lot of people would say – me included – our major banks and therefore our most senior bankers, were very instrumental in causing our national austerity. And, post the so called Credit Crunch, those same banks (especially the part State owned ones) have done little to help the economy and much to damage it further. Unbelievably, the people at the top of those banks continue to be heavily rewarded.

For example, yesterday (13th December) I was reading an article about the top paid European Bank CEO’s. http://www.cityam.com/1415705309/which-ceos-european-bank-have-biggest-pay-checks-two-uk-banks-take-second-and-third-place

Hmmm – £7.4M. Even when you deduct 50% tax, that still leaves approximately £71k a week. I think you could have one hell of a Christmas with that remuneration package!

Mind you, every silver lining has its own cloud and I suddenly thought – I bet it’s really tough finding the perfect Christmas gift for these top bankers because, what do you buy for the man or woman who has everything? So maybe La La Land has its own problems at Christmas.

Shame you can’t gift wrap integrity – if we could give some of them that, the whole Country might feel more festive. Still, there’s always the good old standby gift – Monopoly. After all, banks have bought, sold, packaged and mortgaged every property on the board many, many times over – but, to date, they have been very adept at steering clear of the “Go to Jail” square. But then I’m guessing Al Capone thought he would never lose ‘games’ either.