Case Studies
[AGAIN, THIS WEBSITE IS STILL UNDER CONSTRUCTION]
Please begin by reading: Bank reform will never work unless you tackle the accountants. This article, together with others in the aabaglobal.org archive, sets the scene. It explores the main reason for the financial mess inflicted upon us by the banks, aided and abetted by the 'big4' accountancy organisations [these GFEGs are no longer members of a profession, merely a business that has lost its way in protecting the PUBLIC INTEREST!]. Recent additions to the other pages in our Case Studies, particularly Corporate Scandals, will illuminate the reasons why there are so many casualties of bad regulation. Bad regulation, the one constant theme - but why is it not addressed PROPERLY in this so called democracy?
When bankers and auditors are in CONFLICTING relationships then bank Annual Report & Accounts are not worth the paper they're written on!
Many hundreds of CBRs have similar stories to the following. The similarities of such cases are too obvious to be a coincidence as exposed by, amongst others, Austin Mitchell M.P., going back to 1991, and since, in the House of Commons and elsewhere e.g. in the J S Bass/ERNST & YOUNG scandal http://www.cbr.me/index.php?page=individual-cases - and now since the debate in Westminster Hall, 2nd June, 2009, by James Paice MP, and others, re the HBoS, Reading office, scandal [time will tell whether the word FRAUD can also be attached to this] - ESTIMATED at some £250m, involving 13 BoS customers!! [what's with BoS's tendency to ruin customers in clusters of 13?] This, since Lloyds Banking Group 'absorbed' HBoS is now a Lloyds Banking Group situation to be investigated/PROSECUTED. In time then, the casualties of all Lloyds/Bank of Scotland IMPROPRIETY will INEVITABLY be PLACED BACK INTO THE POSITION they would have been in had none of the impropriety/PERJURY/CONSPIRACY TO PERVERT THE COURSE OF JUSTICE, taken place. In addition, PUNITIVE damages will be sought so that such practices, that are now known to have begun on or about 1988, with the J S Bass case, will be eradicated from banking/auditing/financial and legal services as a result of the institutions/service providers realising that it CAN BE VERY EXPENSIVE once they're found out and have to SUFFER the consequences, as the CBRs have suffered, many for some 20 years! In 1993 it was proposed that FEAR should be the basis of regulation.....we're still waiting! There's no point in relying upon the ethics/conscience of the perpetrators - they have non of those virtues! Had they had, then the present crisis in the World's finances, which has damaged every 'ordinary' family in the Western World, would have been avoided.
Sadly, the UK Government/REGULATORS continue in their state of denial - will they now take ACTION?.....will Jack Straw MP, having apologised to the families of the 2 French students murdered in London [apology Televised, 4th June 2009] now also apologise to "the Baker's Dozen" [this website] and so many others who, had he acted properly in 1998 following his review of Crown Dependencies, and matters incidental thereto [including those via the HBoS Reading office, above] would have been protected from the huge suffering they've had - by new procedures THAT SHOULD HAVE BEEN IMPLEMENTED IN 1999. Or even before, had Alistair Darling MP done what he promised in 1994, likewise! Again, will the Justice Secretary and/or Chancellor of the Exchequer now push for the proper INQUIRY, and COMPENSATION to be paid to these CBRs as a matter of URGENCY?.....
Comments, as ever please, to: justin@CBR.me
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