Comments on: Counterparties: King vs Geithner vs Barclays http://blogs.reuters.com/felix-salmon/2012/07/17/counterparties-king-vs-geithner-vs-barclays/ A slice of lime in the soda Sat, 25 May 2013 16:48:33 +0000 hourly 1 http://wordpress.org/?v=3.4.2 By: fresnodan http://blogs.reuters.com/felix-salmon/2012/07/17/counterparties-king-vs-geithner-vs-barclays/comment-page-1/#comment-41873 fresnodan Wed, 18 Jul 2012 09:25:33 +0000 http://blogs.reuters.com/felix-salmon/?p=16160#comment-41873 Using Occam's razor, the most logical conclusion is that every banking regulator and banking executive is a lying liar. But I am a fear that it is actually worse. These people are so divorced from reality that they jump in front of WHATever happens and reimagine it (Subprime is contained, QE is a success, things will be all right...) Its bad when they drop bombs on you - it is worse when they believe they are dropping flowers. Using Occam’s razor, the most logical conclusion is that every banking regulator and banking executive is a lying liar.
But I am a fear that it is actually worse. These people are so divorced from reality that they jump in front of WHATever happens and reimagine it (Subprime is contained, QE is a success, things will be all right…)
Its bad when they drop bombs on you – it is worse when they believe they are dropping flowers.

]]> By: sandeepY http://blogs.reuters.com/felix-salmon/2012/07/17/counterparties-king-vs-geithner-vs-barclays/comment-page-1/#comment-41872 sandeepY Wed, 18 Jul 2012 05:14:42 +0000 http://blogs.reuters.com/felix-salmon/?p=16160#comment-41872 Fleix a great read .. I am just wondering bot the future of banking industry ..http://wp.me/c3rd Fleix a great read .. I am just wondering bot the future of banking industry ..http://wp.me/c3rd

]]> By: MrRFox http://blogs.reuters.com/felix-salmon/2012/07/17/counterparties-king-vs-geithner-vs-barclays/comment-page-1/#comment-41871 MrRFox Wed, 18 Jul 2012 04:08:52 +0000 http://blogs.reuters.com/felix-salmon/?p=16160#comment-41871 A ‘falling-out among thieves’ can have a high entertainment-value for those not at risk from the exercise, as JPM has demonstrated to some degree and will do more so in the near future, IMO. A ‘falling-out among bureaucrats’ has the potential to be even more spectacular, and we see the first glimmers of that already. ** gets popcorn ready to pop ** That BoE/FSA crew appears to embrace the principle that ‘truth is whatever lie happens to be most convenient at the moment’ – a technique employed to excess by one Bill Clinton whenever the chips were down; Hilly too. The Limeys are blessed to be facing a panel of legislative inquisitors that includes not one competent cross-examiner among them. Lucky Limeys they are, for the solons could remedy that by engaging a pro to drag the truth out of the witnesses. No risk of that though – for it would mean less face-time on camera for the preening pols; can’t have that (on either side of the Atlantic), can we? And Barclays’ – IMO they have done little/none of the fraudulent finger-pointing, and come out of this looking better on the merits than any of the others IMO. Not that it matters – Barc/BD is the designated piñata in this kabuki performance. That’s OK – to some extent they have it coming – and so do we, the public, for allowing the inquiry to proceed as it has and will. A ‘falling-out among thieves’ can have a high entertainment-value for those not at risk from the exercise, as JPM has demonstrated to some degree and will do more so in the near future, IMO. A ‘falling-out among bureaucrats’ has the potential to be even more spectacular, and we see the first glimmers of that already.
** gets popcorn ready to pop **

That BoE/FSA crew appears to embrace the principle that ‘truth is whatever lie happens to be most convenient at the moment’ – a technique employed to excess by one Bill Clinton whenever the chips were down; Hilly too. The Limeys are blessed to be facing a panel of legislative inquisitors that includes not one competent cross-examiner among them. Lucky Limeys they are, for the solons could remedy that by engaging a pro to drag the truth out of the witnesses. No risk of that though – for it would mean less face-time on camera for the preening pols; can’t have that (on either side of the Atlantic), can we?

And Barclays’ – IMO they have done little/none of the fraudulent finger-pointing, and come out of this looking better on the merits than any of the others IMO. Not that it matters – Barc/BD is the designated piñata in this kabuki performance. That’s OK – to some extent they have it coming – and so do we, the public, for allowing the inquiry to proceed as it has and will.

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