White Collar Crime - Part 7 The FCA The Regulators and Policing.
Part 6, Part 5, Part 4, Part 3, Part 2, Part 1.
I returned on the 18th late at night having listened to many stories of how the Banks had wrecked many peoples lives through GRG, Lloyds, HBOS and RBS, a similar story from the lady that sat next to me the whistle blower who will remain nameless, sacked for exposing internal fraud to her Bank.
In my own experiences from 2007 - 2010 and beyond up till 6 years after the regulatory period neither the FSA, FCA or SFO or Manchester Fraud Squad would eventually do absolutely nothing but pass the buck.
At the fraud squad level, nothing was done whatsoever as they didn't want to challenge the situation as its systemic fraud top to bottom and criminals take advantage of this situation. Its good for the Banks.
The bigger the crime in the white collar world the easier it is to get off, without thorough criminal investigation.
Also the Police and Regulators are all at the behest of the Banks, just follow the money.
The newspaper the London Evening Standard was on a train seat nearby as we pulled into Tamworth, i dont usually read the papers as they are full of rubbish.
Little did i know that there was a little gem of an article about what the FCA were really doing with their time this week.
Group Drumming makes you feel Goooood!!
A Hard Day At The FCA?
Andrew Bailey FCA head in August and recently stated the FCA did not have the time or finances to investigate crimes against SME's or previous mis demenours? Interesting.
On Twitter ive followed Neil Mitchel @RNW_MITCHELL whose own investigations into RBS have proven the lack of effort of the FCA can in no way deem them a regulatory body. They monitor only, dont act. This has been my experience also with FSA then FCA.
After all FCA staff and management only move into the banking fraternity as and when they finish with the FCA.
The cartoon above came from Neils twitter thread.
Another commentary by Noel Edmonds and the task he has with Lloyds shows the feeling that is now building
Forthcoming actions against UK lenders to investigate mortgage securitisation is your opportunity to see if your mortgage has been securitised and are you able to get compensated for the process or the risks this has caused or could cause to the economic welfare of the UK and countries that purchase our bonds and securities.
Has your mortgage been securitised? MSC