Eight billion gone from petty cash.

xelasnave · #1 25-01-2008, 04:42 PM

I dont have a link and wonder could I have dreampt that a bank let a worker loose 8 billion gambling with the depositers funds..

How does everyone feel about the notion of saving now?

That bank should be struck off and those responsible for administration locked up and their wages re paid as they did little to justify their receipt.

So thats one how many more of these problems remain un expossed?
alex

duncan · #2 25-01-2008, 04:45 PM

Like i said the other night Alex, Not one of them is worth what they get paid!!!
Cheers

duncan · #3 25-01-2008, 04:48 PM

Hey Alex check out the storms in Warrego Maranoa area. Here's the link
http://mirror.bom.gov.au/products/IDR673.loop.shtml
Cheers

xelasnave · #4 25-01-2008, 04:58 PM

It is all that AL Gores fault bringing global warming to the world I reckon.

Either him or his mate AL Ninio..

Well first year it has not been a bush fire problem... have not seen a fire for a while now but the fuel sure is building up now.

alex

duncan · #5 25-01-2008, 05:04 PM

:l ol:

Al Ninio Me thinks,LOL

Starkler (Geoff) · #6 25-01-2008, 05:18 PM

Heres a link

I found this comment particularly interesting...

" Bouton said he offered his resignation but the board decided not to accept it."

Oi vey, what does a man have to do to get sacked?

xelasnave · #7 25-01-2008, 06:19 PM

Thanks for the link...
being a suspicious sortta person I wonder if this guy really did the damage or if he was elected fall guy...

How can they have a "position" that is not in the system that they are legally responsible for?? if it was outside trading how does the bank get caught with it..so the bank must have given him authority and so it is their fault... and these folk present themsleves as gaudians of your money..mmm

I also find it funny that they had to fix it all up on the two days the market was at rock bottom ... It was all his fault mmmm ..the fault lays with the man who gave the kid a gun and did not stay to see what he was shooting in my book... still when the bank pays the bonuses to executives I wonder which one will not get a bonus... oh no ones to blame bonuses for all.

alex

Outbackmanyep · #8 25-01-2008, 06:20 PM

Might have been "Joe" the Banker.......and im not using rhyming slang either!

avandonk · #9 25-01-2008, 06:25 PM

Thats almost two Hubbles!

Those highly overpaid twits who dabble in high finance in front of their screens think it is a game. Yes it is a game, where twits in one room try to steal off twits in another. This happens all around the Earth while you sleep. The real trouble is it is NOT their money. Never forget it is YOUR money Ralph! This guy just got a little overexuberant!

I would like to know who now has the $8 Billion.

Something I would like to point out for every dollar gained on these markets someone some where loses a dollar.

Except for the US Gov as they just print more.

Bert

xelasnave · #10 25-01-2008, 06:32 PM

Bert said...Something I would like to point out for every dollar gained on these markets someone some where loses a dollar...er I think you forgot the commission on the contract

.
alex

Zuts · #11 25-01-2008, 08:38 PM

Hi,

This is very sad, that a criminal in a trusted position with enough back office systems knowledge to avoid detection and circumvent bank security systems can do such a thing.

This is the second biggest bank in France and probably employs around 50,000 people most of whom may lose their jobs if it goes under.

Paul

leon · #12 25-01-2008, 09:59 PM

Banks wont go under, they will just increase your fees.

leon

Zuts · #13 25-01-2008, 10:18 PM

Quote:

Originally Posted by leon

Banks wont go under, they will just increase your fees.

leon

Barings bank had the same problem, a rogue trader lost 1 billion. Following this ING bought the entire bank for 1 pound, this means they assumed all Bearings Debts. http://en.wikipedia.org/wiki/Barings_Bank

Westpac lost 2 billion in the eighties lending to Alan Bond and they very nearly went under.

I dont know about you but if my fees increase too much then i will go somewhere else.

Paul

Glenhuon (Bill) · #14 25-01-2008, 10:26 PM

We live in a world of ephemera, its only numbers on a screen nowadays, yesterday it was numbers in a ledger. Think of it this way, if the big NEA takes a poke at us someday, keep hold of the printed dollars, they'll be handy for lighting the cooking fire if you manage to find a cave to hide in

Bill

Zuts · #15 25-01-2008, 10:31 PM

Quote:

Originally Posted by Glenhuon

We live in a world of ephemera, its only numbers on a screen nowadays, yesterday it was numbers in a ledger. Think of it this way, if the big NEA takes a poke at us someday, keep hold of the printed dollars, they'll be handy for lighting the cooking fire if you manage to find a cave to hide in

Bill

Admittedly if the NEA takes a poke then todays problems will be small fry, can you just imagine the resale value of my C11 with all that dust floating around

Paul

Ric · #16 25-01-2008, 11:09 PM

I think I might just keep all my money in a sock under the mattress at least I wont have to pay the bank a $1.50 whenever I want to use some of it.

Cheers

GrahamL · #17 25-01-2008, 11:13 PM

The ceo has declined a salery until june 30 by the looks

futures traders !!..gotta love the ability to lose something that never
really existed put a dollar value on it..blame one person and move on .
IM ..h ..o all board members and senior management share equal
responsibility in this mess...will they be held accountable??

Glenhuon (Bill) · #18 25-01-2008, 11:13 PM

Quote:

Originally Posted by Zuts

Admittedly if the NEA takes a poke then todays problems will be small fry, can you just imagine the resale value of my C11 with all that dust floating around

Paul

Then we'd all be thinking that some small fluffy clouds and a patch of blue sky would be nice LOL