Matt

Hope you had a good'un.

Not in the parallel universe where nothing is officially announced.

His Radio 2 show is horrific and mostly pre-recorded.

Being a local radio DJ is a miserable existence though, you can bet your last pound that all those grinning buffoons on the sides of buses go home each night and hit the bottle before crying themselves to sleep.

I use to quite like Moyles when he did the afternoon shows, but the one thing I cannot stand is the 'star' surrounded by a band of sycophants all telling him how great he is. It's horrendous to listen to and Moyles managed to surpass Steve Wright and Chris Evans (of old). Haven't listened to R1 for years really. Shite. Agree with 6 Music by the way. Cracking stuff generally.

Fair play to GSK for some excellent timing!

It depends on whether they are a net LIBOR borrower or depositor.

You fancy paying them the extra back? As for the article, it's entirely bollocks becuase LIBOR is reference rate for both lending and depositing. If the rate has been manipulated down, then banks will have lost millions in floating-rate interest payments. That quote makes it sound like it is a rate a bank pays out to small depositors, but most term deposits the likes of you or me will place will be fixed rate or a tracker. Yes, investors in a LIBOR-linked investment will have lost out, but this is only one side of the balance and one which hits other banks a thousand times harder than small investors.

They should stick to gig reviews.

The fines go to government- in the UK the fine reduces other levies across the industry (ie bad boys subsidise the good boys) though this is something that is now set to change and will in future go direct to HMG.

Not really. The only thing revealed to date has been Barclays deliberately pushing the rate down and we're not going to see mortgage holders given orders to cough up the difference! Only a few mortgages are L+ and the margins so fine that I don't think the man in the street will be left out of pocket. The trading desks on the other side of Barclays' trades (who will have been running several billions £ of positions) will liklely have more of a problem with it.

Have to say, if this isn't fraud I'm not sure what is. While Ed Miliband is a little premature demanding 'criminal prosecutions' (last time I checked we left that to the judiciary, not seat-warming politicians), surely, surely, there is a case here. For all we know, this action could actually have lost Barclays money- remember this guy was only covering the positions on his own desk, and not those of the wider bank. What is truly staggering- and shows just how failed the system was at this point- was that they were using monitored communications to discuss the fixing.

I can't wait to hear how this deal makes them more 'classy'.

Sounds like our place, spend a fortune on a team of people to help us save us a hundred quid a month.

Ah, you only listen to a radio outside then. You're going to get a shock when you wake up, its 1685 and all of this was an illusion.

Wolfy, if it helps you I have worked with microwave transmitter equipment- that's the same frequency band that satellites operate in. I can, from first hand experience, tell you that they need a line of sight between units for the signal path to work. We had some debris blow across a roof in the way of the transmitter in this case and signal was lost straight away. So that backs up the science that microwaves have little ability to penetrate objects. So on that basis, my Sky dish, which also is a microwave receiver, would not be able to receive signals if there was something in the way. That's why it's installed pointing at nothing, because there is something in orbit putting signals across a huge area. Now, there are no underground cables connected to my system, so it's not picking anything up from that. And it can't be radio waves as dish misalignment loses the signal. You can try this for yourself. Build a wall around your Sky dish. It will stop receiving. Turn a radio up and build a wall around that. It will still work. This will test both your acute scientific mind and give you practical real-world bricklaying skills. Now, bear in mind I haven't just written this and I'm not real so this may impact the validity of my claims.

I would definitely stay in a Premier Inn.

A Grexit was plausible at one stage, and clearly the Merkozy ultimatum showed this- but now this would likely trigger multiple EZ exits and massive devaluation of the replacment currencies- and the EU simply couldn't handle that. A fiscal union is looking increasingly like the only option. Thank Christ we're not part of it. And there is no room for butt plugs when there are 17 nations all trying to put their arms up there.

Well, anyone would if they could. You have a load of money which you can shift abroad in massive quantities without changing its value. Never mind the ordinary Greeks, its everyone in the EZ that is propping up Kostas Shipalotopos and his overpriced Greek Euros.

I remember years back listening to blokes like this one ring into the Night Owls.

Pissed down all day today, like it has been all bloody week. Back at work next week so we'll be guaranteed more of that 26C sweltering bollocks come Monday

That's a very short article attempting to cover a very complex topic and the bit about boardroom options is barely relevant given the scale of numbers in question when thinking over wider OTC derivatives contracts. And CDOs were a lesson in stupidity and greed, not how 'structured products are baaaaaad'. But she's right on one thing, JP Morgan have ensured that retail deposit-taking institutions cannot be allowed to carry out prop trading. This could be implemented very quickly across any major economy with non-bank market participants around to take up the slack. If those traded products cannot survive without implicit deposit bank (and hence govt) support then it's curtains. Retail and commercial banks do (and should be able to) act as a broker to their clients for certain risk management products and will need to bear some market risk in executing the trade- but this risk should be kept to an absolute minimum and under no circumstances should those banks be able to make a market. This is one of the aim of the ICB in the UK.

The original feed-in tariffs were ludicrously generous so I'm not surprised the government tried to claw it back. However it did so in such a clumsy way that they have undermined investment confidence for all green energy projects of the type.

Got a link to the story HF?

Assuming a free market for labour, income tax is a tax on temporary productive activity. It will always ensure those who start with £1m will pay less tax than those starting with nothing and earning £1m through productive processes, reducing the marginal benefit of productivity. Of course a perfect society is a pipedream, but you surely have to undertake a taxation structure that can best acheive those aims, rather than shrugging and admitting defeat?