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Why There Will Never Be A Full Enquiry Into The Banking Scandals

Updated on August 5, 2012

Do We Need An Enquiry Into The Banking Scandals

As yet another banking scandal hits the headlines , the manipulation of interest rates which has caused more misery for the average citizen and leading to an even greater mistrust of the banking system today.

What the people who have placed their trust in banks need to know is are they going to be protected from the rogues with a full enquiry into the banking scandals.There is a distinct reluctance from the British Government to hold a full enquiry into the bankers deception.

Corruption

"Where there is power there is corruption; where there is absolute power there is absolute corruption."

The public have not forgotten the MP's expenses scandal that has since blemished our belief of the politicians ability to have any real interest in its constituents.

The banks continually let us down and the rigging of the LIBOR rate is another reason for the populace to feel the assurance of any commitment from the bankers to its customers.

For decades there have been constant enquiries into police corruption that have further damaged the confidence of society today.

We cannot be so naive as to think corruption does not exist and it may well be only the work of a few. We would all like to live in an ideal world, the fact is we all live in the same world and have the opportunity to take what we need, only those in power take more than they need.

MP'S, bankers and the Judaical system would form the cornerstone of a full enquiry into the banking scandal the MP's do not want.

They will continue to blame previous governments , they will not want to see any current politicians implicated, and destroy the reputation built up over centuries that the City of London is a safe, reputable place to invest money.


Bank of England

Secrecy and Lies

An Internet search reveals that the Bank of England was nationalised in 1946,and up until then it was a privately run bank.In 1977, the Bank set up a wholly owned subsidiary called Bank of England Nominees Limited, (BOEN) a private limited company.

The Bank of England is also protected by the official secrets act and its Royal Charter status.

We know who the Governer of the Bank of England is, but the secrecy still leaves us in doubt about its ownership.

The Bank of England is it private or is it not? The question still remains that successive governments persists with the lie that it needs to borrow from the Bank of England with interest, which becomes the national debt; money that will be re-paid by the taxpayers toils.

It now seems that the banks control politicians. They lie to the public for the votes they need, whilst rolling over and covering for the banks with little consideration for the majority of the poor voters.

This is a democratic country, and this should not happen to an electorate who don’t know who the major players are, and what their ultimate game is.

If the government had any consideration for its populous it should come clean on who owns the Bank of England.

Who Owns The Bank of England

Should we be told who are the Bank of England shareholders

See results

The Banking World

There is no doubt that the Nation needs the world of finance and banking, it is genuinely the heart of the British economy creating revenue and taxes that sustain the standard of living as it seems the days of good old manufacturing are over.Most of our services industries rely on financial services either directly or indirectly.

The world of banking is often seen as murky and open to criticism from conspiracy theorists and anti-capitalist protesters alike.The general public are now much wiser on the affects of banks and have lost confidence in their accountability.

MP's are not prepared to run the risk of a full enquiry to the banking scandals but could reassure the frustrated democracy by explaining the secrecy surrounding the Bank of England.


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    • Princesscool profile image

      Princesscool 

      6 years ago

      I agree with Sidkemp answer. Money makes money and if you have power and money to some extend you can escape scandals. Lack of ethics, governance, objectivity, integrity, professionalism, moral values has lead to scandals and unless there strict implementation of these scandals will never be eliminate form the banking industry.

    • ronaldoh profile imageAUTHOR

      ronaldoh 

      6 years ago from England

      Thanks for your comment Sid, I think many Nationalities will see similarities.It seems we will have to dig deep to get the answers we need.

    • SidKemp profile image

      Sid Kemp 

      6 years ago from Boca Raton, Florida (near Miami and Palm Beach)

      I'm from the US, and I see similar problems here. Democratic government cannot survive without transparency, and those with power and money want to use money and power to get more power and money. Therefore, they don't want, and have the power to prevent, transparency. Keep calling for governance by a higher standard of values!

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