From the Guardian:
The FSA had “commenced an investigation involving Barclays and four current and former senior employees, including Chris Lucas. The FSA is investigating the sufficiency of disclosure in relation to fees payable under certain commercial agreements and whether these may have related to Barclays capital raisings in June and November 2008. Barclays considers that it satisfied its disclosure obligations and confirms that it will co-operate fully with the FSA’s investigation.”
Without further comment outside of the FSA’s general maneuvers, temporarily reinstated bank chairman Marcus Agius of Barclays had a terse standoff with journalists as they were poised to ask various questions on the matter, but he cut them off with a terse “enough”.
Now with regard to finance director Chris Lucas, the FSA is apparently focusing on a period in June 2008 when Barclays raised 4.5 billion pounds through new share issues, and a second fundraising where 7 billion pounds were raised from mainly Middle Eastern investors. At question are numerous fee provisions on advisory services by the Qatar Investment Authority to Barclays in the Middle East, though the article doesn’t go further to specify what particular issue has the FSA so focused on that specific arrangement, outside of it having to do with disclosure rules or obligations.
“We are sorry for the issues that have emerged over recent weeks and recognise that we have disappointed our customers and shareholders. I speak for all of Barclays people when I say how determined we are to regain the full confidence of all our stakeholders; customers and clients, investors, regulators and staff alike,” Agius said.
There is already a treasure trove of information to convict virtually every big wig megabank crook out there, but of course we get the slow roll because we’ve been jacked into the Matrix for so long – look, to wake up to a reality where we find out most of the stuff we deal with every day is complete bullshit is rather tough, so I think in some ways, this slow unwinding of the illusion is occurring to help us adjust to it more easily.
At this point it’s pretty obvious to me that the information to damn Barclays will not stop, as executives are now implicated, which is something quite nerve wracking to the cabal running the show, because it means that the system is cracking. At some point, even bought Federal agency heads will have to let the legitimate people in the government move forward and bring on some real prosecutions, and let’s hope this is sooner rather than later.
What’s certain is that this will unfold, it’s a question of when, but I do get concerned at times because this Rothschild banking collapse has real world consequences – many people lie homeless and starving in the First World now (this in no way implies deaths in the Third World are less meaningful, we are all sovereign human beings), so it’s tough to stomach a criminally fraudulent money and supply system that’s literally sucking the life out of us while our compatriots starve.
Nonetheless, we chug forward, and we realize that the banks are toppling, the fascade has mostly crumbled off and some internal structure is cracking. Eventually there will be a point where it will crash, but for now, the show continues.