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"Back on topic . . . Last April BCS had discussed the what ifs and who's to do what. No one apart from Jes himself can be blamed apart from taking into account that he knowingly accepted benefits from a convicted nonce."
MrWolf, here's the thing, Staley's dealings with the peado Epstein were all before Dec 2015 when he took the role of Barclays CEO. Furthermore, Staley is working for JPMorgan from 2000 to 2013 while dealing with Epstein, In 2009 while still working at JPMorgan Staley visits Epstein in prison . In 2013 Staley moves jobs and JPMorgan cut ties with Epstein. Here is the problem I think - Staley and his wife visit Epstein at his island home in mid 2015!!!! In 2019 Staley tells Barclays board the details of his professional relationship with Epstein - if you can indeed call a visit with the wife to a then convicted criminals island home - professional. Not that its a crime to visit criminals at their home with your wife , but it certainly make one wonder why he was visiting at all, may leave one asking "was he really with the wife on the visit?".
Spindler, I realise whistleblowing is a tough one for any company. On the one hand there is genuine fraud or wrong doing being exposed and on the other hand there are very disruptive elements in an organisation with more nefarious objectives, e.g someone trying to falsely implicate an innocent person to get them fired. I have noticed strong words like "hunt down" being used in Staleys case, hunt means to pursue and kill. Did Staley really HUNT the whistleblower down and throw the kitchen sink in order to find the persons or was Staley trying to identity him/her being over zealous in his endeavour. The fact is its easy for the media to but a lot of spin on such events and the public don't hear the full facts because there is company info identities to protect.
Spindler, I realise whistleblowing is a tough one for any company. On the one hand there is genuine fraud or wrong doing being exposed and on the other hand there are very disruptive elements in an organisation with more nefarious objectives, e.g someone trying to falsely implicate an innocent person to get them fired. I have noticed strong words like "hunt down" being used in Staleys case, hunt means to pursue and kill. Did Staley really HUNT the whistleblower down and throw the kitchen sink in order to find the persons or was Staley trying to identity him/her being over zealous in his endeavour. The fact is its easy for the media to but a lot of spin on such events and the public don't hear the full facts because there is company info identities to protect.
" But really he should have gone over his hunt for the whistleblower."
Disagree, because a good COE should know who and why there is someone whistleblowing from within the company, if someone is not happy the CEO is the one who can put things right. Its what a ceo does with the whistleblower when he finds them that matters.
If it turns out Staley is innocent, that'll be another good CEO forced to resign from Barclays. Personally speaking I think Bob Diamond was a excellent COE that was used as a scapegoat by the government and banking regulator of the day to hide their own failings, all the way back in 2008. If it turns out there is evidence against Staley then this abrupt step down was the best to avoid scandal for the bank.
Thing that bothers me about Staley's step down is the abruptness of it. Even though Staley had announced his departure awhile ago, his departure this morning was an unplanned - why wasn't his departure date announced in advance?
Why would anyone sign? Short selling doesn't make the share price fall, what makes the share price fall is poor management, poor product or poor economic outlook. If all those factors are strong, makes no differnce how much someone short sells a business because there will be those who see the potential for going long, the short sellers lose. And on the other side of the coin if any/all those factors poor then more of those who were long will short the stock and rightly so - A sh*t company should not profit from investors money
Furthermore, the reason the sp falls after results is because the institutional investor doesn't want the share price to take off so they sell it down just after the results to scare the little fish off, ready to buy back big once they are happy with the results. My guess
I have no doubt the share price will rise considerably, in fact I think big institutional investors are busy chewing over the latest results and once that info has been digested and they are happy they will buy big. My guess
My brain bleeds, watching barc share price creep up to £2!!! The only thing about barc that's changed since Wednesday is the bank is sitting on an extra £6 billion profit and the knowledge its balance sheet is much much stronger than it was Wednesday.
It defies logic, or is there something in the balance sheet the average man on the street has not seen in the announcement on Thursday, something about the future prospects of profitability????
All week barc share price was hitting £2 based off of expected earnings/profits. Today actual real earning/profits came out, earnings up profits nearly doubled and the share price goes DOWN. The sp is down more than likely because one cylinder out of six wasn't performing as well as it might have. But they were more than happy to invest in barc on the news, but dump the stock on very good facts. Its the craziest sh*t I have ever witnessed!!!
Staley should start the buybacks around about now, he would do us investors in this stock proud, but they always seem to buyback when the stock is near a peak, never when its at its trough. So in conclusion the bank is much stronger financially than it was yesterday and its sp is less. Barc has to be a bargain, but the buyers have run for the hills today because the profits have doubled and the news is much better as fact, rather than yesterdays fiction.