Thwaites brewery takes £11.9m hit in banks scandal

Blackburn Citizen: Thwaites brewery takes £11.9m hit in banks scandal Thwaites brewery takes £11.9m hit in banks scandal

BLACKBURN brewery Thwaites took an £11.9m cash hit from the bank rates fixing scandal – plunging the firm into a rare pre-tax loss.

The company will have to pay £11.9million this year to cancel an interest rate swap agreed with a financial institution five years ago, chief executive Rick Bailey has revealed.

The decision to buy the firm out of the 22-year deal was taken as part of a recent review of its long-term financial strategy, but does not affect the company’s operational strategy, including moving the brewery out of Blackburn town centre.

The change plunged Thwaites from an operating profit of £12.4million into a loss of £8.2million for the year to March 31 2012, down from an overall profit of £5.3million for 2010/2011.

The other exceptional factor behind the loss was a reduction in the valuation of the company’s property portfolio.

The company’s annual report said that: “Due to the continued turmoil on the financial markets and the adverse impact on the valuation of our swap contracts, we have undertaken a review of our longer-term funding requirements, including the costs of the new brewery, and have taken the decision to pay off swap contracts that are not highly likely to be used against future borrowings.”

The government is promising a review of banking practices and an inquiry into interest rate fixing.

Mr Bailey refused to be drawn on who the lender behind the swap was, and whether Thwaites would seek compensation in the light of current developments.

He told the Lancashire Telegraph yesterday: “We shall be monitoring the situation very carefully.

“We will await the outcome of any reviews, or inquiries, before making any decision on what to do next.”

Comments (12)

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1:17pm Tue 3 Jul 12

accy lad and proud says...

Another large enterprise avoiding tax with the use of clever accounting me thinks ?
Another large enterprise avoiding tax with the use of clever accounting me thinks ? accy lad and proud

1:54pm Tue 3 Jul 12

midas says...

What does this have to do with "banks scandal". They may well have bought a "financial instrument" to hedge against raising interest rates and now realised that the rate is going to stay low for some years, and took a business decision to cut their losses now.
What does this have to do with "banks scandal". They may well have bought a "financial instrument" to hedge against raising interest rates and now realised that the rate is going to stay low for some years, and took a business decision to cut their losses now. midas

2:02pm Tue 3 Jul 12

Judge Nic Sanders says...

Their business strategy of closing or disposing of 'local' outlets in favour of spending say £2m on refurbishing 5 up-market outlets in 2011 and abandoning all the Lancashire League Cricket Clubs may have affected their reputation and sales.
Their business strategy of closing or disposing of 'local' outlets in favour of spending say £2m on refurbishing 5 up-market outlets in 2011 and abandoning all the Lancashire League Cricket Clubs may have affected their reputation and sales. Judge Nic Sanders

3:24pm Tue 3 Jul 12

sen c ble says...

'the other exceptional factor behind the loss was a reduction in the valuation of the company's property portfolio', the main reason reflecting Thwaites losses!
'the other exceptional factor behind the loss was a reduction in the valuation of the company's property portfolio', the main reason reflecting Thwaites losses! sen c ble

4:43pm Tue 3 Jul 12

Info-warrior says...

The government is promising a review of banking practices and an inquiry into interest rate fixing.

These Banksters have broken the law why are the government not going after these Banksters like they went after the kids who were caught stealing bottles of water. Cameroon said about the kids if they are old enough to break the law they are old enough to be sent to prison.. Will he be as tough on the Banksters as he was over the 10 year old kids he wanted to send to prison..?

Mr Diamond will be grilled in the Commons by the Treasury Select Committee tomorrow and the details could be highly embarrassing for regulators with increasing speculation that they were aware of the bank’s practices but failed to act.

They are all in this together and they will now protect each others backs to the bitter end.

Look for two things to begin to happen now; the media getting behind an unprecedented routing of the bankers, followed by subsequent bankster resignations.

Their grip on the media, on everything, is such that this would not be visible or an issue unless they wanted it to be.

I predict that many high profile bankers will be resigning in the near future as the rats leave the sinking ship under cover of being “punished” in order to both placate the public and for them not be at the helm when it all goes bad.

This resignation is perhaps the most profound indicator we’ve had that the mucky stuff is about to hit the fan and the big boys don’t want history to remember them as being at the wheel when it does.

I’m sorry but I don’t buy this; for a start there’s more chance of David Cameroon knitting fog than Bob Diamond going to prison. If prosecutions were likely, then by the time that was even a remote possibility we would have already been at war with Iran and in full financial collapse for several months. Their grip on the media, on everything, is such that this would not be visible or an issue unless they wanted it to be. Something’s going on here. If Bob Diamond left the bank now (because he is full aware of the fire storm in the financial markets that’s coming very,very soon) then perhaps it would raise suspicions. I predict that many high profile bankers will be resigning in the near future as the rats leave the sinking ship under cover of being “punished” in order to both placate the public and for them not be at the helm when it all goes bad. This resignation is perhaps the most profound indicator we’ve had that it’d about to hit the fan and the big boys don’t want history to remember them as being at the wheel when it does. Look for Jamie soon, This isn’t the victory you think it is; “they” are getting out whilst there is at least the smallest vestige of plausible deniability still left for them. The think tank analysts can see via world chatter (via internet snooping devices) that the peasants are restless; this will give the disgruntled masses a bone whilst also facilitating the departure of their “boys” (think about it, if Bob, Jaimie the usual suspects all started resigning at once without a reason then wouldn’t you start to get suspicious as to what the hell was going on? Look for two things; the media getting behind this unprecedented routing of the bankers and their subsequent resignations. As you are raising your pitchforks watch the bankers sail of in the lifeboats while you are celebrating on the Titanic. This is them getting out whilst quelling a rebellion in the making..

Four years of austerity measures and still no let up from these blood sucking parasites. I just which the sheople were not so affraid of waking up and seeing these globalist elite for what they are and how they have lied to us about Banking the ecomony the whloe shabang has been one big lie.
The government is promising a review of banking practices and an inquiry into interest rate fixing. These Banksters have broken the law why are the government not going after these Banksters like they went after the kids who were caught stealing bottles of water. Cameroon said about the kids if they are old enough to break the law they are old enough to be sent to prison.. Will he be as tough on the Banksters as he was over the 10 year old kids he wanted to send to prison..? Mr Diamond will be grilled in the Commons by the Treasury Select Committee tomorrow and the details could be highly embarrassing for regulators with increasing speculation that they were aware of the bank’s practices but failed to act. They are all in this together and they will now protect each others backs to the bitter end. Look for two things to begin to happen now; the media getting behind an unprecedented routing of the bankers, followed by subsequent bankster resignations. Their grip on the media, on everything, is such that this would not be visible or an issue unless they wanted it to be. I predict that many high profile bankers will be resigning in the near future as the rats leave the sinking ship under cover of being “punished” in order to both placate the public and for them not be at the helm when it all goes bad. This resignation is perhaps the most profound indicator we’ve had that the mucky stuff is about to hit the fan and the big boys don’t want history to remember them as being at the wheel when it does. I’m sorry but I don’t buy this; for a start there’s more chance of David Cameroon knitting fog than Bob Diamond going to prison. If prosecutions were likely, then by the time that was even a remote possibility we would have already been at war with Iran and in full financial collapse for several months. Their grip on the media, on everything, is such that this would not be visible or an issue unless they wanted it to be. Something’s going on here. If Bob Diamond left the bank now (because he is full aware of the fire storm in the financial markets that’s coming very,very soon) then perhaps it would raise suspicions. I predict that many high profile bankers will be resigning in the near future as the rats leave the sinking ship under cover of being “punished” in order to both placate the public and for them not be at the helm when it all goes bad. This resignation is perhaps the most profound indicator we’ve had that it’d about to hit the fan and the big boys don’t want history to remember them as being at the wheel when it does. Look for Jamie soon, This isn’t the victory you think it is; “they” are getting out whilst there is at least the smallest vestige of plausible deniability still left for them. The think tank analysts can see via world chatter (via internet snooping devices) that the peasants are restless; this will give the disgruntled masses a bone whilst also facilitating the departure of their “boys” (think about it, if Bob, Jaimie the usual suspects all started resigning at once without a reason then wouldn’t you start to get suspicious as to what the hell was going on? Look for two things; the media getting behind this unprecedented routing of the bankers and their subsequent resignations. As you are raising your pitchforks watch the bankers sail of in the lifeboats while you are celebrating on the Titanic. This is them getting out whilst quelling a rebellion in the making.. Four years of austerity measures and still no let up from these blood sucking parasites. I just which the sheople were not so affraid of waking up and seeing these globalist elite for what they are and how they have lied to us about Banking the ecomony the whloe shabang has been one big lie. Info-warrior

5:36pm Tue 3 Jul 12

midas says...

Info-warrior wrote:
The government is promising a review of banking practices and an inquiry into interest rate fixing. These Banksters have broken the law why are the government not going after these Banksters like they went after the kids who were caught stealing bottles of water. Cameroon said about the kids if they are old enough to break the law they are old enough to be sent to prison.. Will he be as tough on the Banksters as he was over the 10 year old kids he wanted to send to prison..? Mr Diamond will be grilled in the Commons by the Treasury Select Committee tomorrow and the details could be highly embarrassing for regulators with increasing speculation that they were aware of the bank’s practices but failed to act. They are all in this together and they will now protect each others backs to the bitter end. Look for two things to begin to happen now; the media getting behind an unprecedented routing of the bankers, followed by subsequent bankster resignations. Their grip on the media, on everything, is such that this would not be visible or an issue unless they wanted it to be. I predict that many high profile bankers will be resigning in the near future as the rats leave the sinking ship under cover of being “punished” in order to both placate the public and for them not be at the helm when it all goes bad. This resignation is perhaps the most profound indicator we’ve had that the mucky stuff is about to hit the fan and the big boys don’t want history to remember them as being at the wheel when it does. I’m sorry but I don’t buy this; for a start there’s more chance of David Cameroon knitting fog than Bob Diamond going to prison. If prosecutions were likely, then by the time that was even a remote possibility we would have already been at war with Iran and in full financial collapse for several months. Their grip on the media, on everything, is such that this would not be visible or an issue unless they wanted it to be. Something’s going on here. If Bob Diamond left the bank now (because he is full aware of the fire storm in the financial markets that’s coming very,very soon) then perhaps it would raise suspicions. I predict that many high profile bankers will be resigning in the near future as the rats leave the sinking ship under cover of being “punished” in order to both placate the public and for them not be at the helm when it all goes bad. This resignation is perhaps the most profound indicator we’ve had that it’d about to hit the fan and the big boys don’t want history to remember them as being at the wheel when it does. Look for Jamie soon, This isn’t the victory you think it is; “they” are getting out whilst there is at least the smallest vestige of plausible deniability still left for them. The think tank analysts can see via world chatter (via internet snooping devices) that the peasants are restless; this will give the disgruntled masses a bone whilst also facilitating the departure of their “boys” (think about it, if Bob, Jaimie the usual suspects all started resigning at once without a reason then wouldn’t you start to get suspicious as to what the hell was going on? Look for two things; the media getting behind this unprecedented routing of the bankers and their subsequent resignations. As you are raising your pitchforks watch the bankers sail of in the lifeboats while you are celebrating on the Titanic. This is them getting out whilst quelling a rebellion in the making.. Four years of austerity measures and still no let up from these blood sucking parasites. I just which the sheople were not so affraid of waking up and seeing these globalist elite for what they are and how they have lied to us about Banking the ecomony the whloe shabang has been one big lie.
Not sure what relevance this has to Thwaites, but what law has Bob Diamond broken? What about the role played by Baroness Vadera and Ed Balls?
[quote][p][bold]Info-warrior[/bold] wrote: The government is promising a review of banking practices and an inquiry into interest rate fixing. These Banksters have broken the law why are the government not going after these Banksters like they went after the kids who were caught stealing bottles of water. Cameroon said about the kids if they are old enough to break the law they are old enough to be sent to prison.. Will he be as tough on the Banksters as he was over the 10 year old kids he wanted to send to prison..? Mr Diamond will be grilled in the Commons by the Treasury Select Committee tomorrow and the details could be highly embarrassing for regulators with increasing speculation that they were aware of the bank’s practices but failed to act. They are all in this together and they will now protect each others backs to the bitter end. Look for two things to begin to happen now; the media getting behind an unprecedented routing of the bankers, followed by subsequent bankster resignations. Their grip on the media, on everything, is such that this would not be visible or an issue unless they wanted it to be. I predict that many high profile bankers will be resigning in the near future as the rats leave the sinking ship under cover of being “punished” in order to both placate the public and for them not be at the helm when it all goes bad. This resignation is perhaps the most profound indicator we’ve had that the mucky stuff is about to hit the fan and the big boys don’t want history to remember them as being at the wheel when it does. I’m sorry but I don’t buy this; for a start there’s more chance of David Cameroon knitting fog than Bob Diamond going to prison. If prosecutions were likely, then by the time that was even a remote possibility we would have already been at war with Iran and in full financial collapse for several months. Their grip on the media, on everything, is such that this would not be visible or an issue unless they wanted it to be. Something’s going on here. If Bob Diamond left the bank now (because he is full aware of the fire storm in the financial markets that’s coming very,very soon) then perhaps it would raise suspicions. I predict that many high profile bankers will be resigning in the near future as the rats leave the sinking ship under cover of being “punished” in order to both placate the public and for them not be at the helm when it all goes bad. This resignation is perhaps the most profound indicator we’ve had that it’d about to hit the fan and the big boys don’t want history to remember them as being at the wheel when it does. Look for Jamie soon, This isn’t the victory you think it is; “they” are getting out whilst there is at least the smallest vestige of plausible deniability still left for them. The think tank analysts can see via world chatter (via internet snooping devices) that the peasants are restless; this will give the disgruntled masses a bone whilst also facilitating the departure of their “boys” (think about it, if Bob, Jaimie the usual suspects all started resigning at once without a reason then wouldn’t you start to get suspicious as to what the hell was going on? Look for two things; the media getting behind this unprecedented routing of the bankers and their subsequent resignations. As you are raising your pitchforks watch the bankers sail of in the lifeboats while you are celebrating on the Titanic. This is them getting out whilst quelling a rebellion in the making.. Four years of austerity measures and still no let up from these blood sucking parasites. I just which the sheople were not so affraid of waking up and seeing these globalist elite for what they are and how they have lied to us about Banking the ecomony the whloe shabang has been one big lie.[/p][/quote]Not sure what relevance this has to Thwaites, but what law has Bob Diamond broken? What about the role played by Baroness Vadera and Ed Balls? midas

7:45pm Tue 3 Jul 12

Kevin, Colne says...

I take a different position in relation to retail banking and commercial banking.

As a general rule in retail banking the knowledge gap between the provider of the product and the consumer is very large indeed. In the main the seller (bank) will know more about the product that is being sold and its’ intricacies than the customer. The technical term for this is, I believe, known as ‘information asymmetry’. It’s a big problem.

While information asymmetry can and does occur in commercial transactions I take the view that corporate bodies by and large have professionally qualified finance directors and accountants and, therefore, they should – at least theoretically – be in a better position to judge the structure, value and price of transactions into which they are entering.

In short the test for a claim of mis-selling should be higher than in domestic banking.

I think the best way to deal with banks is to use visualisation: picture the bank as the wolf and you as a sheep. I think of this image every time I enter a bank or mainstream financial institution and I find that it gets me into the right frame of mind to repel their rapacious advances.

It saddens me greatly to write in these terms but this is the situation that we are now in. This isn’t about ‘banker bashing’ as there are some very fine and honourable people employed in banking - it’s about self-preservation.
I take a different position in relation to retail banking and commercial banking. As a general rule in retail banking the knowledge gap between the provider of the product and the consumer is very large indeed. In the main the seller (bank) will know more about the product that is being sold and its’ intricacies than the customer. The technical term for this is, I believe, known as ‘information asymmetry’. It’s a big problem. While information asymmetry can and does occur in commercial transactions I take the view that corporate bodies by and large have professionally qualified finance directors and accountants and, therefore, they should – at least theoretically – be in a better position to judge the structure, value and price of transactions into which they are entering. In short the test for a claim of mis-selling should be higher than in domestic banking. I think the best way to deal with banks is to use visualisation: picture the bank as the wolf and you as a sheep. I think of this image every time I enter a bank or mainstream financial institution and I find that it gets me into the right frame of mind to repel their rapacious advances. It saddens me greatly to write in these terms but this is the situation that we are now in. This isn’t about ‘banker bashing’ as there are some very fine and honourable people employed in banking - it’s about self-preservation. Kevin, Colne

8:09pm Tue 3 Jul 12

Kevin, Colne says...

One point I should have made in my posting above is remember that whereas a sheep can only ‘Baaa’ you can say ‘No’.

It’s dead-easy. Here’s how it works:

Can we quote for your car insurance? No
Can we quote for your home insurance? No.
Can we give you a credit card? No
Can we give you a loan? No
Can we supply you with a mortgage? No
Can we entice you with mortgage equity withdrawal? No
Can we help you make a will and be your executor? No
Can we help you with saving? No
Can we advise you on investments? No

What can we do? You have my current account and all you have to do is to process money in and money out. This in my view is the only business any sane person should give to a bank and it should be well within your circle of competence, and I thank you profusely for your efforts now please leave me alone.

I’m very sorry to have gone off on one, but this is something about which I feel very strongly.
One point I should have made in my posting above is remember that whereas a sheep can only ‘Baaa’ you can say ‘No’. It’s dead-easy. Here’s how it works: Can we quote for your car insurance? No Can we quote for your home insurance? No. Can we give you a credit card? No Can we give you a loan? No Can we supply you with a mortgage? No Can we entice you with mortgage equity withdrawal? No Can we help you make a will and be your executor? No Can we help you with saving? No Can we advise you on investments? No What can we do? You have my current account and all you have to do is to process money in and money out. This in my view is the only business any sane person should give to a bank and it should be well within your circle of competence, and I thank you profusely for your efforts now please leave me alone. I’m very sorry to have gone off on one, but this is something about which I feel very strongly. Kevin, Colne

12:24am Wed 4 Jul 12

Love Rovers Hate Venkys says...

Does this mean we can expect to pay more for Thwaites beers, in the not too distant future?
Does this mean we can expect to pay more for Thwaites beers, in the not too distant future? Love Rovers Hate Venkys

7:26am Wed 4 Jul 12

midas says...

Kevin, Colne wrote:
One point I should have made in my posting above is remember that whereas a sheep can only ‘Baaa’ you can say ‘No’.

It’s dead-easy. Here’s how it works:

Can we quote for your car insurance? No
Can we quote for your home insurance? No.
Can we give you a credit card? No
Can we give you a loan? No
Can we supply you with a mortgage? No
Can we entice you with mortgage equity withdrawal? No
Can we help you make a will and be your executor? No
Can we help you with saving? No
Can we advise you on investments? No

What can we do? You have my current account and all you have to do is to process money in and money out. This in my view is the only business any sane person should give to a bank and it should be well within your circle of competence, and I thank you profusely for your efforts now please leave me alone.

I’m very sorry to have gone off on one, but this is something about which I feel very strongly.
And you are right!!!
[quote][p][bold]Kevin, Colne[/bold] wrote: One point I should have made in my posting above is remember that whereas a sheep can only ‘Baaa’ you can say ‘No’. It’s dead-easy. Here’s how it works: Can we quote for your car insurance? No Can we quote for your home insurance? No. Can we give you a credit card? No Can we give you a loan? No Can we supply you with a mortgage? No Can we entice you with mortgage equity withdrawal? No Can we help you make a will and be your executor? No Can we help you with saving? No Can we advise you on investments? No What can we do? You have my current account and all you have to do is to process money in and money out. This in my view is the only business any sane person should give to a bank and it should be well within your circle of competence, and I thank you profusely for your efforts now please leave me alone. I’m very sorry to have gone off on one, but this is something about which I feel very strongly.[/p][/quote]And you are right!!! midas

8:21am Wed 4 Jul 12

A Darener says...

Love Rovers Hate Venkys wrote:
Does this mean we can expect to pay more for Thwaites beers, in the not too distant future?
Yes!!
[quote][p][bold]Love Rovers Hate Venkys[/bold] wrote: Does this mean we can expect to pay more for Thwaites beers, in the not too distant future?[/p][/quote]Yes!! A Darener

9:34am Wed 4 Jul 12

Your ferret stinks says...

Info-warrior wrote:
The government is promising a review of banking practices and an inquiry into interest rate fixing. These Banksters have broken the law why are the government not going after these Banksters like they went after the kids who were caught stealing bottles of water. Cameroon said about the kids if they are old enough to break the law they are old enough to be sent to prison.. Will he be as tough on the Banksters as he was over the 10 year old kids he wanted to send to prison..? Mr Diamond will be grilled in the Commons by the Treasury Select Committee tomorrow and the details could be highly embarrassing for regulators with increasing speculation that they were aware of the bank’s practices but failed to act. They are all in this together and they will now protect each others backs to the bitter end. Look for two things to begin to happen now; the media getting behind an unprecedented routing of the bankers, followed by subsequent bankster resignations. Their grip on the media, on everything, is such that this would not be visible or an issue unless they wanted it to be. I predict that many high profile bankers will be resigning in the near future as the rats leave the sinking ship under cover of being “punished” in order to both placate the public and for them not be at the helm when it all goes bad. This resignation is perhaps the most profound indicator we’ve had that the mucky stuff is about to hit the fan and the big boys don’t want history to remember them as being at the wheel when it does. I’m sorry but I don’t buy this; for a start there’s more chance of David Cameroon knitting fog than Bob Diamond going to prison. If prosecutions were likely, then by the time that was even a remote possibility we would have already been at war with Iran and in full financial collapse for several months. Their grip on the media, on everything, is such that this would not be visible or an issue unless they wanted it to be. Something’s going on here. If Bob Diamond left the bank now (because he is full aware of the fire storm in the financial markets that’s coming very,very soon) then perhaps it would raise suspicions. I predict that many high profile bankers will be resigning in the near future as the rats leave the sinking ship under cover of being “punished” in order to both placate the public and for them not be at the helm when it all goes bad. This resignation is perhaps the most profound indicator we’ve had that it’d about to hit the fan and the big boys don’t want history to remember them as being at the wheel when it does. Look for Jamie soon, This isn’t the victory you think it is; “they” are getting out whilst there is at least the smallest vestige of plausible deniability still left for them. The think tank analysts can see via world chatter (via internet snooping devices) that the peasants are restless; this will give the disgruntled masses a bone whilst also facilitating the departure of their “boys” (think about it, if Bob, Jaimie the usual suspects all started resigning at once without a reason then wouldn’t you start to get suspicious as to what the hell was going on? Look for two things; the media getting behind this unprecedented routing of the bankers and their subsequent resignations. As you are raising your pitchforks watch the bankers sail of in the lifeboats while you are celebrating on the Titanic. This is them getting out whilst quelling a rebellion in the making.. Four years of austerity measures and still no let up from these blood sucking parasites. I just which the sheople were not so affraid of waking up and seeing these globalist elite for what they are and how they have lied to us about Banking the ecomony the whloe shabang has been one big lie.
You like others are a wealth of information with your hindsight, but exactly what are you insighting people to do to rectify the situation..answer absolutly nothing! Don't you think that we are all aware of these people/banksters and what is happening within our world at present, yet you profer no answers but yesterdays news.
Whilst i, like many others know we are in it up to our necks and don't need it repeated many times over as in your posts.

Back on topic lets hope Thwaites can ride this without hurting too much as it's a great product, been around 200 years + along with having employed many people in the area over the years and still continues to do so, that my friends is worth raising a glass to, cheers!
[quote][p][bold]Info-warrior[/bold] wrote: The government is promising a review of banking practices and an inquiry into interest rate fixing. These Banksters have broken the law why are the government not going after these Banksters like they went after the kids who were caught stealing bottles of water. Cameroon said about the kids if they are old enough to break the law they are old enough to be sent to prison.. Will he be as tough on the Banksters as he was over the 10 year old kids he wanted to send to prison..? Mr Diamond will be grilled in the Commons by the Treasury Select Committee tomorrow and the details could be highly embarrassing for regulators with increasing speculation that they were aware of the bank’s practices but failed to act. They are all in this together and they will now protect each others backs to the bitter end. Look for two things to begin to happen now; the media getting behind an unprecedented routing of the bankers, followed by subsequent bankster resignations. Their grip on the media, on everything, is such that this would not be visible or an issue unless they wanted it to be. I predict that many high profile bankers will be resigning in the near future as the rats leave the sinking ship under cover of being “punished” in order to both placate the public and for them not be at the helm when it all goes bad. This resignation is perhaps the most profound indicator we’ve had that the mucky stuff is about to hit the fan and the big boys don’t want history to remember them as being at the wheel when it does. I’m sorry but I don’t buy this; for a start there’s more chance of David Cameroon knitting fog than Bob Diamond going to prison. If prosecutions were likely, then by the time that was even a remote possibility we would have already been at war with Iran and in full financial collapse for several months. Their grip on the media, on everything, is such that this would not be visible or an issue unless they wanted it to be. Something’s going on here. If Bob Diamond left the bank now (because he is full aware of the fire storm in the financial markets that’s coming very,very soon) then perhaps it would raise suspicions. I predict that many high profile bankers will be resigning in the near future as the rats leave the sinking ship under cover of being “punished” in order to both placate the public and for them not be at the helm when it all goes bad. This resignation is perhaps the most profound indicator we’ve had that it’d about to hit the fan and the big boys don’t want history to remember them as being at the wheel when it does. Look for Jamie soon, This isn’t the victory you think it is; “they” are getting out whilst there is at least the smallest vestige of plausible deniability still left for them. The think tank analysts can see via world chatter (via internet snooping devices) that the peasants are restless; this will give the disgruntled masses a bone whilst also facilitating the departure of their “boys” (think about it, if Bob, Jaimie the usual suspects all started resigning at once without a reason then wouldn’t you start to get suspicious as to what the hell was going on? Look for two things; the media getting behind this unprecedented routing of the bankers and their subsequent resignations. As you are raising your pitchforks watch the bankers sail of in the lifeboats while you are celebrating on the Titanic. This is them getting out whilst quelling a rebellion in the making.. Four years of austerity measures and still no let up from these blood sucking parasites. I just which the sheople were not so affraid of waking up and seeing these globalist elite for what they are and how they have lied to us about Banking the ecomony the whloe shabang has been one big lie.[/p][/quote]You like others are a wealth of information with your hindsight, but exactly what are you insighting people to do to rectify the situation..answer absolutly nothing! Don't you think that we are all aware of these people/banksters and what is happening within our world at present, yet you profer no answers but yesterdays news. Whilst i, like many others know we are in it up to our necks and don't need it repeated many times over as in your posts. Back on topic lets hope Thwaites can ride this without hurting too much as it's a great product, been around 200 years + along with having employed many people in the area over the years and still continues to do so, that my friends is worth raising a glass to, cheers! Your ferret stinks

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