Naughty Nigel

She had to go …. Whatever your thoughts on Farage personally, her actions are completely indefensible.

For the CEO of a bank to be discussing their client over a meal and drinks with a source from the BBC is completely out of order.
 
bfcpete said:
Inevitable. I was surprised the Chairman and board supported her yesterday. You can't have your CEO breaking the rules (and potentially the law) in a highly regulated industry. What example does that set for other managers and employees of the bank.
What us more worrying is that there are many more people coming forward (many appear to be ordinary people, not high profile individuals) that have had their accounts closed at no notice and with no reasons given. And the establishment of committees at banks to do this. Very sinister. A bit like the Nazis closing the bank accounts of Jews in the 1939s and 1940s.
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I worked for a bank and we weren’t told the reason for customers having their accounts close. Even the department that issued the notice to close the accounts, wouldn’t reveal why. It obviously caused problems for colleagues in branches having to confront sometime, pretty angry people who naturally wanted to know the reason.
 
Tangerinemoss said:
You have to have a little sympathy for her. he is entitled to slag them off from here to kingdom come, yet NatWest is not allowed right of reply. Sometimes GDPR is not balanced
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She made a mistake and has paid the price... I have respect for her , for doing the right thing but it would seem others have been “ making plans for Nigel”( XTC😉) which is quite concerning and needs further investigation to see how widespread this type of victimisation is... all political views aside.. it’s plainly wrong.
 
Newholland said:
She made a mistake and has paid the price... I have respect for her , for doing the right thing but it would seem others have been “ making plans for Nigel”( XTC😉) which is quite concerning and needs further investigation to see how widespread this type of victimisation is... all political views aside.. it’s plainly wrong.
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Which bit do you think is wrong Newholland ?

I don’t disagree that some of this is concerning, but I’m not sure (for example) that it’s wrong for the bank reps to have had a discussion about NF and review his status and any of the relative subject matter include in the document.

I also think that there may be justification (in some instances) to disassociate themselves from a client and it’s up to the bank to determine their criteria for that.

Where it feels wrong to me is that they are unable to justify their decision with any real clarity.
 
So Nigel has been completely exonerated. Banks are behaving as the moral arbiter of account holders. They are not. They are just banks. I hope this leads to a reassessment of their powers. I was interested to hear that banks are closing down accounts of businesses that take cash as it doesn't fit in with their needs and procedures. Ridiculous.
 
Mexboroseasider said:
I’ve been told I should start a new thread so here we are.

It was announced in the House of Commons that Nigel had received close to £550k from the Kremlin backed Russia Today.

Suddenly Nigel’s bank accounts are being closed.

Is there a connection?

I dunno but Nigel is very cross and may be leaving the U.K. as a result.
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So it’s never came out about this £550,000 Kremlin money, it’s clear Farage isn’t about to leave the country, it’s clear Farage has been shit on from a great height here, it’s clear his account was closed for personal reasons (they don’t like him) not financial ones as it was first stated, and now to cap it all the CEO of Coutts has resigned.

Surely the O/P either has to apologise for being wrong and do the honourable thing and remove the thread?

At the end of the day who has actually been naughty here?

Let’s see the whole NatWest board do the honourable thing now and resign. 👍
 
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BFC_BFC_BFC said:
Which bit do you think is wrong Newholland ?

I don’t disagree that some of this is concerning, but I’m not sure (for example) that it’s wrong for the bank reps to have had a discussion about NF and review his status and any of the relative subject matter include in the document.

I also think that there may be justification (in some instances) to disassociate themselves from a client and it’s up to the bank to determine their criteria for that.

Where it feels wrong to me is that they are unable to justify their decision with any real clarity.
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I agree.

It’s wrong for a bank employee (at whatever level) to discuss a customer’s bank account with anyone other than another employee at the same bank who has a need to know (other than the police or other regulatory authority).

It’s perfectly acceptable for appropriate bank employees to discuss any risks that a customer might pose the bank, including reputational risks. And it’s fine for them to manage that risk.

And that’s a completely different debate to the “thousands of Brexiters have bank accounts closed” conspiracy theory that’s being pushed currently.
 
Jaffa_The_Hut said:
So it’s never came out about this £550,000 Kremlin money, it’s clear Farage isn’t about to leave the country, it’s clear Farage has been shit on from a great height here, and now to cap it all the CEO of Coutts has resigned.

Surely the O/P either has to apologise for being wrong and do the honourable thing and remove the thread?
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Eh?

It was Farage who originally floated the idea that the closure of his account was because of Chris Bryant’s claim that he’d been paid £500k by Russia Today.

And it was Farage who said he might have to leave the country.

So the OP was just repeating what your hero was alleging.

You really do have a problem with free speech Jaffa. Talk about cancel culture. Jeez Louise.
 
Mexboroseasider said:
Eh?

It was Farage who originally floated the idea that the closure of his account was because of Chris Bryant’s claim that he’d been paid £500k by Russia Today.

And it was Farage who said he might have to leave the country.

So the OP was just setting out what your hero was alleging.

You really do have a problem with free speech Jaffa. Talk about cancel culture. Jeez Louise.
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I’ll take that as a no then.

You were wrong on every account of him yet you fail to accept it.

I’m not surprised for one minute Mex you are like Allison Rose you clearly can’t stand the bloke that’s fair enough no issues with that but you are trying to hide around other issues now.
I’d think a lot more of you if you’d just admit you got it wrong on this story.

I won’t hold my breath though.
 
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BFC_BFC_BFC said:
Which bit do you think is wrong Newholland ?

I don’t disagree that some of this is concerning, but I’m not sure (for example) that it’s wrong for the bank reps to have had a discussion about NF and review his status and any of the relative subject matter include in the document.

I also think that there may be justification (in some instances) to disassociate themselves from a client and it’s up to the bank to determine their criteria for that.

Where it feels wrong to me is that they are unable to justify their decision with any real clarity.
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Your last sentence would seem sum this situation up nicely.
Total agreement that banks or any other business have a right to discuss a clients circumstances etc ...internally....the client should have the right to know, when a service has been withdrawn , why?
If that client feels wronged, it’s up to them to go public... the business would then have the right to give clarity ( subject to legality)
 
Jaffa_The_Hut said:
I’ll take that as a no then.

You were wrong on every account of him yet you fail to accept it.

I’m not surprised for one minute Mex you are like Allison Rose you clearly can’t stand the bloke but are trying to hide around other issues I’d think a lot more of you if you’d just admit you got it wrong on this story.

I won’t hold my breath though.
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You can hold your breath if you like 👍
 
Mexboroseasider said:
I agree.

It’s wrong for a bank employee (at whatever level) to discuss a customer’s bank account with anyone other than another employee at the same bank who has a need to know (other than the police or other regulatory authority).

It’s perfectly acceptable for appropriate bank employees to discuss any risks that a customer might pose the bank, including reputational risks. And it’s fine for them to manage that risk.

And that’s a completely different debate to the “thousands of Brexiters have bank accounts closed” conspiracy theory that’s being pushed currently.
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Whilst banks may establish criteria they should be very clear and transparent (including with their clients) and proportionate, consistent and fair. If they target Farage because they don't like his political views or who he has met, shouldn't they also exclude Labour MPs who have been sanctioned by the party for anti-semetic views or unsavory individuals they have met or the many dodgy, mega rich football club owners? I note today that the Spurs owner has been charged by the US authorities with multiple charges of insider trading.

In the case of Farage and probably many others, it even worse because they now appear to be excluded from other banks. Everyone knew there was a bad credit list, but there now appears to be a 'we don't like them' list
 
Newholland said:
Your last sentence would seem sum this situation up nicely.
Total agreement that banks or any other business have a right to discuss a clients circumstances etc ...internally....the client should have the right to know, when a service has been withdrawn , why?
If that client feels wronged, it’s up to them to go public... the business would then have the right to give clarity ( subject to legality)
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Thanks fir clarifying, I thought you were implying something you obviously weren’t and thought I’d best check before diving in 😂
 
tommytwojags said:
So Nigel has been completely exonerated. Banks are behaving as the moral arbiter of account holders. They are not. They are just banks. I hope this leads to a reassessment of their powers. I was interested to hear that banks are closing down accounts of businesses that take cash as it doesn't fit in with their needs and procedures. Ridiculous.
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Yep exactly what some said was happening and not just in banks either.
 
Mexboroseasider said:
I agree.

It’s wrong for a bank employee (at whatever level) to discuss a customer’s bank account with anyone other than another employee at the same bank who has a need to know (other than the police or other regulatory authority).

It’s perfectly acceptable for appropriate bank employees to discuss any risks that a customer might pose the bank, including reputational risks. And it’s fine for them to manage that risk.

And that’s a completely different debate to the “thousands of Brexiters have bank accounts closed” conspiracy theory that’s being pushed currently.
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Well, there's been loads more subject access requests being put in, including Richard Tice about some accounts he's had closed.

It'll be interesting to see when they come back, seems to happen to quite a lot of people.
 
JJpool said:
Well, there's been loads more subject access requests being put in, including Richard Tice about some accounts he's had closed.

It'll be interesting to see when they come back, seems to happen to quite a lot of people.
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NatWest Shares dropped this morning surprise surprise.

I bet Nigel had a grin like a Cheshire Cat eating his breakfast this morning. 🤣

Well done Nige keep it going lad the more people you piss off the better for being wrong. 👍
 
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JJpool said:
Well, there's been loads more subject access requests being put in, including Richard Tice about some accounts he's had closed.

It'll be interesting to see when they come back, seems to happen to quite a lot of people.
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Ah yes. Subject access requests.

Thank heavens the EU forced us to adopt GDPR eh? 😂
 
bfcpete said:
Whilst banks may establish criteria they should be very clear and transparent (including with their clients) and proportionate, consistent and fair. If they target Farage because they don't like his political views or who he has met, shouldn't they also exclude Labour MPs who have been sanctioned by the party for anti-semetic views or unsavory individuals they have met or the many dodgy, mega rich football club owners? I note today that the Spurs owner has been charged by the US authorities with multiple charges of insider trading.

In the case of Farage and probably many others, it even worse because they now appear to be excluded from other banks. Everyone knew there was a bad credit list, but there now appears to be a 'we don't like them' list
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As a matter of interest who keeps this “we don’t like them” list?

Is it George Soros 👀 👀?

It usually is.
 
Mexboroseasider said:
Ah yes. Subject access requests.

Thank heavens the EU forced us to adopt GDPR eh? 😂
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Forced us? We were in the EU when it was brought in, nothing wrong with adopting any good things. We would have our own versions of things anyway, it's not like we're a country that hasn't developed suitable laws before.
 
JJpool said:
Forced us? We were in the EU when it was brought in, nothing wrong with adopting any good things. We would have our own versions of things anyway, it's not like we're a country that hasn't developed suitable laws before.
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GDPR was one of the things filed under red tape that would be swept away by Brexit.
 
JJpool said:
www.gbnews.com

NatWest share price drops to bottom of FTSE as bank left reeling after Nigel Farage row

Bank's shares slide after Dame Alison Rose resignation
www.gbnews.com www.gbnews.com

www.telegraph.co.uk

NatWest chairman under pressure to resign as Farage row wipes £850m off value

The chairman of NatWest is facing growing pressure to resign over his handling of the Nigel Farage “debanking” scandal.
www.telegraph.co.uk www.telegraph.co.uk
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Ah yes.

Brexiters talking down U.K. Plc.

No surprise there then.

Why don’t you all move to Germany or Russia?
 
I think that some have been taken for a walk round the block by Nigel (not for the first time). Listen to the second half of the podcast below if you are interested in the real reasons for Coutts decisions. It's about money of course, as you would expect from a private bank.
Can I also ask if any who post on here have a Coutts account? What would happen if I wanted one? It's a right isn't it? At least that's what Nigel says.

https://twitter.com/x/status/1684296979411607556

open.spotify.com

The climate crisis - is it already out of control?

Listen to this episode from The News Agents on Spotify. Is the global climate crisis already out of control? Lewis' special report from Southern Spain. And, as the boss of NatWest resigns over the Farage - Coutts crisis - why has one man and his bank account consumed national news?Editor: Tom...
open.spotify.com open.spotify.com
 
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Newholland said:
...a desperate attempt to rack the 400🏏....happy to oblige with a quick single....nice to see the retired keeping an active mindset 😉
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I’m not so sure about desperate. Jaffa said about a hundred posts ago that he wasn’t posting again as he didn’t want me to get a triple century.

But his delusional paranoia runs so deep he can’t stop himself.
 
Mexboroseasider said:
I’m not so sure about desperate. Jaffa said about a hundred posts ago that he wasn’t posting again as he didn’t want me to get a triple century.

But his delusional paranoia runs so deep he can’t stop himself.
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I did yes but since then the news just gets better and better for Nigel so didn't want to miss the opportunity by not reminding people. 😀
 
Astonished to find that the foreign owner of GB news has made an absolute fortune off the back of this latest bollocks. I wonder how much Farage's cut was?
The CEO was a dickhead for what she did and for breaking confidentiality, it's right that she goes but let's face it, some of you seem more bothered about him being downgraded by a bank than energy prices, food inflation and mortgage costs. Surely those are the things that really matter rather than the hurt pride of a public school educated, millionaire City trader with a dodgy political past in the NF?
I wonder whether the CEO of P&O should have gone when he dismissed 800 workers under false pretences?
 
ElBurroSinNombre said:
The total gained by the fund was £850 million
Nigel might actually be able to keep his Coutts account after all!
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Silly bitch shouldn't have opened her gob then should she and closed his account.

Customer confidentiality my arse.

Hopefully the whole board will step down next.
 
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southshorepool said:
Astonished to find that the foreign owner of GB news has made an absolute fortune off the back of this latest bollocks. I wonder how much Farage's cut was?
The CEO was a dickhead for what she did and for breaking confidentiality, it's right that she goes but let's face it, some of you seem more bothered about him being downgraded by a bank than energy prices, food inflation and mortgage costs. Surely those are the things that really matter rather than the hurt pride of a public school educated, millionaire City trader with a dodgy political past in the NF?
I wonder whether the CEO of P&O should have gone when he dismissed 800 workers under false pretences?
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He's British.

That seems a bit of a leap and to mentioning NF and getting a cut seems a bit shady and unfounded.

"However, it is understood Marshall Wace’s bet against NatWest is mostly computer-driven.

The hedge fund has software it calls TOPS (Trade Optimised Portfolio System), which analyses the views of analysts and economists and gives indications where to invest.

Marshall Wace first disclosed that it was building a short position against NatWest in March, when fears were growing over the health of the global financial system following the collapses of Silicon Valley Bank and Credit Suisse."

A few points, NF said he'd been sitting on it for a couple of months, when he first announced it on his YouTube, back on 29ty June. Not sure when he first knew.

I don't see how anyone could know about the dossier of hate that the bank had on him and no-one could possibly know that the CEO would leak information and have to step down because of it, which seems to have caused the biggest recent fall in the price.

It does seem a coincidence... but also it seems a fair few leaps are also being made by people on here and elsewhere.
 
JJpool said:
He's British.

That seems a bit of a leap and to mentioning NF and getting a cut seems a bit shady and unfounded.

"However, it is understood Marshall Wace’s bet against NatWest is mostly computer-driven.

The hedge fund has software it calls TOPS (Trade Optimised Portfolio System), which analyses the views of analysts and economists and gives indications where to invest.

Marshall Wace first disclosed that it was building a short position against NatWest in March, when fears were growing over the health of the global financial system following the collapses of Silicon Valley Bank and Credit Suisse."

A few points, NF said he'd been sitting on it for a couple of months, when he first announced it on his YouTube, back on 29ty June. Not sure when he first knew.

I don't see how anyone could know about the dossier of hate that the bank had on him and no-one could possibly know that the CEO would leak information and have to step down because of it, which seems to have caused the biggest recent fall in the price.

It does seem a coincidence... but also it seems a fair few leaps are also being made by people on here and elsewhere.
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Ah yes. The “Happy Coincidence” defence.

Well if this is truly an unexpected windfall that’s come out of the blue I expect Marshall will do the decent thing and make a donation to charity (and by charity I don’t mean Farage).
 
After the revelations above, I am staggered that anyone has got the brass neck to keep backing poor Nigel..

Just like after the revelations about Kwarteng's meeting with financiers the night before he crashed the economy and cost mortgage holders a fortune for the next few years.

It is corruption, pure and simple and they are laughing at you
 
Mexboroseasider said:
Ah yes. The “Happy Coincidence” defence.

Well if this is truly an unexpected windfall that’s come out of the blue I expect Marshall will do the decent thing and make a donation to charity (and by charity I don’t mean Farage).
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I hadn't defended it, or attacked it.

Only tried to show a timeline and show how some points were impossible to know about, which is true isn't it? That's when the share price fell. The hedgefund did this back in March and I'd imagine will have done a number of financial stocks.

I don't know much about hedgefunds, but from comments I've read it seems it was largely algorithm driven and also to short banks during a period of economic turmoil is apparently pretty standard.

There's no way they could have known how this would have unfolded recently back in March.

I'd be interested in @seasideone opinion...
 
Tangerinemoss said:
After the revelations above, I am staggered that anyone has got the brass neck to keep backing poor Nigel..

Just like after the revelations about Kwarteng's meeting with financiers the night before he crashed the economy and cost mortgage holders a fortune for the next few years.

It is corruption, pure and simple and they are laughing at you
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What does it have to do with NF? He was always going to come out against the bank given what happened to him.

You're using some weird logic.

'They', glad it's not just those on the right who like a good conspiracy.
 
JJpool said:
What does it have to do with NF? He was always going to come out against the bank given what happened to him.

You're using some weird logic.

'They', glad it's not just those on the right who like a good conspiracy.
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So why did he sit on the story for a while, if I was hacked off I would come out about it immediately ?

Follow the money :)

As for "they", do you know the only sector who has seen an realtime increase in their pay since 2010?

The finance sector. Every other sector has seen a cut in their real pay. It's not too difficult to see why the electorate is so unhappy with the Tory Governments, particularly as they are pursuing policies which were never anywhere near the last manifesto.
 
One thing you can be 100% sure of is that if it had been someone who the o/p and his gang actually liked who'd had their banking issues made public, this thread would be all about evil, unethical bankers rather than another tedious Brexit v Remain thread with the same people spouting the same sh*te for the umpteenth time.
Whether you agree with Farage's views or not, a couple of things seem quite clear to me - he is clearly a very obnoxious git who is full of his own self importance but that is no reason for the banks behaviour however entertaining it may be to some.
 
It’s not unusual for a HF to place a short and then reveal information to drop the price.

It doesn’t always work - but it is common.

@JJpool
 
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Tangerinemoss said:
So why did he sit on the story for a while, if I was hacked off I would come out about it immediately ?

Follow the money :)

As for "they", do you know the only sector who has seen an realtime increase in their pay since 2010?

The finance sector. Every other sector has seen a cut in their real pay. It's not too difficult to see why the electorate is so unhappy with the Tory Governments, particularly as they are pursuing policies which were never anywhere near the last manifesto.
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Maybe he was considering what to do, taking advice etc.

Except in this case the two big factors that made this into a bigger story were completely unpredictable.

seasideone said:
It’s not unusual for a HF to place a short and then reveal information to drop the price.

It doesn’t always work - but it is common.

@JJpool
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Cheers, as said though they announced they would short back in March, it's unclear if Farage had even been spoken to by the bank back then.

Also, it wasn't known that the bank held that dossier and did actually discriminate because of his views until much later.

It was also completely unpredictable that the CEO would then lie to the bbc, months after they shorted it and reveal his information, ending in her having to resign and that's what caused the current share price to crash recently.

So seems a hell of a lot of luck involved here.
 
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