Wednesday, 11 February 2009

What does the words FSA stand for or do ? What do Standards mean ?

The FSA has announced that it has extended its waiver from complaint handling rules regarding unauthorised overdrafts, for up to a further 6 months. This is because the Overdraft Charges Court Case (known as the 'Test Case') is ongoing, and it is not yet clear how banks should be responding to customer complaints.

The FSA can revoke the waiver at any time if it considers a waiver is no longer appropriate, for example, if it no longer provides adequate consumer protection, or material progress is not being made in the Test Case, or a firm fails to comply with the conditions set out in the waiver.

Basically this means that you cannot sue the Banks for over charging you, you issue a writ and the Courts will set it aside until after this test case brought by the OFT against all of the High Street Banks is finally heard after nearly two years, The Banks of course interpret this to mean that whilst you cannot sue them, they are entitled to sue you, even if you dispute the charges. Darien Government Darien Justice.

So whilst the Government was lobbing billions of our money at the Banks, Brown had not even asked for this test case to be resolved, mostly because he was in a blue funk.

FSA renews waiver from dealing with customer complaints

Sir James Crosby has resigned from the FSA after the revelations about him sacking the Head of Group Regulatory Risk , Paul Moore at HBOS for saying that the Bank's lending policies were causing the Bank to become unstable.

Brown is now tied in with Crosby for appointing a reckless banker to the FSA, Crosby repays him by jumping ship twenty minutes before PMQ's.

Do not forget that it was Brown who divied up the responsibilty for economic regulation rather than leave it with the Bank of England.

The rottenness at the centre of Westminster and its cronyism is laid bare for all to see.

This Government is sinking in sleaze and corruption, yet it will not go, it will supress and resort to reaction against protestors at every turn

Isn't James Crosby one of the chief execs who threw caution and corporate governance to the wind at HBOS and instituted an aggressive policy of rampant expansion in consumer lending despite snowballing risk.

Personally I'd like some fresh thinking on this one.

Bob Dawes, London, April 9th 2008

Personally, I am waiting for the call for a National Government,then we will be in a one party State run by the 646, and no further embarrassing questions.


Dave said...

Is this why fat Jacqui is stockpiling tasers?

Anonymous said...

"jumping ship twenty minutes before PMQ's"

Are you suggesting he wasn't pushed?

One can almost imagine the phone call he presumably took from Mandelbum or one of his minions.

Classic revolver and bottle of whisky stuff.

Anonymous said...

Hey, just wondered if you know, the Westboro baptist church are coming over from the USA to Basingstoke on the 20th to have a "got hates fags" protest. for source.

Check out their website and tell me, is this acceptable? Does this anger you? Will we let these nutters get away with this? or will we turn up and counter?

Guthrum said...

If you disagree with them, just ignore them. Its the right thing to do

Anonymous said...

One rule for the members of the Westboro church & al-Qaradawi and another for Wilders. Nobody's equal under these rotten laws Labour has enacted. Unity & Diversity: the crap meaningless motto of the EU and our filthy government. Time to get rid. There *must* be an election soon; the country's drowning in corruption.

The Penguin said...

Just keeps on getting smellier and smellier, doesn't it?

Gordon Brown's extra special friend and adviser "Sir" James Crosby was Chief Executive at The Halifax and through execrable TV advertising aimed at the LCDs expanded it's mortgage business exponentially. Then he became the boss of the merged HBOS and did the same thing there, pursuing ever more risky business. He and his fellow directors were warned in 2004 that the risks were becoming extensive and dangerous, and promptly sacked the messenger, and gagged him with a confidentiality clause.

Then good old "Sir" James abandons ship at HBOS, handing the poisoned chalice to Andy Hornby, and gets a cushy job writing a report for Gordon Brown on trying to sugar coat the nasty taste of ID cards, for which he is promoted by appointment as Deputy Chairman of the Financial Services Authority, whose remit is to ensure banks are not taking undue risks. Nice One!

Under the protection of parliamentary approval, the sacked Head of Risk Management at HBOS is at last able to spill the beans, and it turns out not only did he tell the directors at HBOS that things were in up shit creek with no paddle, but also took his concerns to the government watchdog tasked by Gordon Brown with regulating the banking system, that's the one, the fucking unfit for fucking purpose Financial Services Authority, who did nothing because "they like a quiet life".

"When Gordon Brown first set up his new system of banking supervision, the amount British banks lent out was matched by the amount that they held on deposit. In fact, they were often in overall surplus. By the time he finished as chancellor, they were lending over £625 billion more than they held on deposit. That’s not supervision – it was sheer recklessness. It’s that funding gap which is the key to understanding how our banks have crumbled." Michael Fallon MP

Andy Hornby's little chat with the Star Chamber also revealed that he was busy trying to undue the "rush for growth at any risk" culture that "Sir" James had been pursuing at HBOS but ran out of time especially when Gordon and his shitty little gob-piece Peston destroyed their share price to ensure a takeover by Gordon's other friend, Sir Victor Blank and Lloyds TSB. Do you suppose that Gordon knew of the problems at HBOS from chatting to "Sir" James?

Do bears shit in the woods?

The Penguin

someday said...

Anonymous said...
""got hates fags" protest."

Another anti-smoking movement?

Mr Very Angry said...

The amount of shit is too large to contemplate anymore. We are having to leave more shit than any fucking global warmist might want to talk about for the next generation and we can do nothing about it because these twats have totally and utterly disempowered a population.

It's hard to contain my anger, I despise these bastards more the I hate Alex Ferguson or Rafa Benitez - it's that bad. What I would like to do to them all is unprintable. So I'm gonna say it out loud ....ucking k...the bstds...and NO i DON'T WANT CCTV in my Pub...

Tomrat said...

Maybe we can remove them ourselves?

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