Regulators at the City of London are working with the UK’s Serious Fraud Office (“SFO”) in an investigation of you guessed it, Barclays bank. Apparently, everyone is interested in the bank raising approximately £4.5 billion in June 2008 and later in November of the same year of £7.1 billion for numerous Middle eastern investors, according to an exclusive report from the UK’s The Independent. Such an investigation may lead to fraud charges, say reports.
Some already say this is too little, too late given the state of the banking industry at this point in time: “The SFO needs to work flat out to catch up on lost time. This should have happened a long time ago, so I worry that it is too little too late,” says John Mann, the Labour member of the Treasury Select Committee who is conducting his own investigation into the banking industry.
Specifically, it appears that regulators and officials are looking at documents from a June 2008 fundraising that covers “an agreement for provision of advisory services” by Qatar investment Authority to Barclays and “a co-operative business relationship” with Sumitomo Mitsui Banking Corporation. Commissions of approximately 4.2% were raised, which is much higher than the standard 3% fees in such endeavors.
As to an official response, the SFO and the UK’s Financial Services Authority have declined to comment.
Story is HERE.
As you can see, there is great reluctance among governments to fight the banksters, as is evident by continual failures by worldwide regulators and governments to do anything against them. However, the bought politicians can’t do it for much longer.
How many more investigations and “scandals” that are actually crime syndicates need to be revealed before real consequences are dished out? We know they’re coming, but we need to demand this now, it’s getting ridiculous. The bough politicians are still trying to use their legalese and jargon to dance around the issues because we’re still accepting the bullshit. We can’t do that anymore, we have to out and call out each bought politician and law enforcer that refuses to follow the constitution (and of course for those outside the US, your respective documents similar to the constitution) until we get actual justice.