Cultocracy note :
Had to laugh at this headline , not sure if it was intended as tongue in cheek or a final swan song from the Barclay’s chair .
I wonder if he claimed PPI himself ?
The current chair of Barclays , John McFarlane , has been quoted as stating that the PPI scandal has turned “portions of Britain into fraudsters” .
I am not altogether sure which ‘portions’ John McFarlane is referring to . Maybe all of the portions , maybe just those portions that have claimed PPI , maybe even those portions that have not claimed PPI . Maybe the professional portions that are employed in the trades of legalized robbery ? (bankers and solicitors to you and me)
Maybe John Mc’s words are simply a fit of pique caused by a drop in profits at Barclays which means a drop in the size of his pay packet , a subliminal Freudian slip as it were .
You would be surprised at how often the words of public (and not so public) figures often relate directly to themselves .
PPI was an unusual case in UK history in that the government (Conservative at that) actually stood up to the all-powerful cozy club of globalist bank$ters , or did they ?
It should be noted that the PPI claim regulation was initiated after the 2008 bank
heist crash .
According to John Mc , the PPI claims will cost the financial sector £50 billion , a nice round figure , you can guarantee that this figure will be passed on discreetly to banking customers .
Unfortunately nobody has a clue how much the 2008
fraud crash will eventually cost the taxpayer . Estimates vary and range between £500 billion and several £trillion . You can probably err on the side of the latter figure .
- £850bn: official cost of the bank bailout
- Reality check: how much did the banking crisis cost taxpayers?
That is before we factor in other residual costs , it should be noted that the 2008
racket crash led to legalized loansharking quantitive easing , which up to 2016 is suspected of costing the UK taxpayer more than £400 billion .
The global figure is much larger , as with most large-scale rackets , only the insiders will actually know the size of the prize .
It should also be noted that the racket is centuries old and is ongoing , the 2008 manoeuver simply added to the squeeze .
Cultocracy note :
At least the Banking Cartel is paying their own electricity bill to run the printing press .
What is PPI ?
For the uninitiated or non-UK citizens or those who do not have a TV or radio , or those who do not read newspapers or magazines , or those that live in the wilderness off grid , a description of PPI is below .
“PPI – which stands for payment protection insurance – was sold with loans, credit cards, mortgages and other types of credit too, like car finance or catalogue accounts. Some “stand alone” PPI policies were also sold – that weren’t linked to particular credit.”
If you did have it , get a claim in now .
- The Spider’s Web: Britain’s Second Empire (Documentary)
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- Barclays and the LIBOR Scandal
- FCA fines Barclays £72 million for poor handling of financial crime risks
- Barclays $2 billion fraud fine resolves major U.S. legal issue
- Barclays Bank charged by Serious Fraud Office over Qatar loan
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