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Nigel Farage cries persecution, nobody wants to be his banker after ties to Russia

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  • Posts: 0 [Deleted User]


    Nobody knew Farage was a member of Coutts to decide whether they'd want to bank with them. It's simply untrue.

    You keep repeating this line that it's about Farage not being profitable and it being nothing to do with political views.

    Please explain then why the dossier almost exclusively talks about his political views?



  • Registered Users Posts: 23,553 ✭✭✭✭pjohnson


    This might be your funniest post yet across all identities.

    Not as ludicrous as your insistence that Saville and Rashford are similar but it really pushes it close.



  • Registered Users Posts: 4,960 ✭✭✭Shoog


    Because the financial part is a simple yes or no, a concept you seem incapable of grasping.



  • Registered Users Posts: 3,697 ✭✭✭Flaneur OBrien


    Nobody knew?

    Hmmm… I’m sure the vast majority of the public knew, but

    A: I would bet my last penny that Farage has boasted about having a Coutts account. Let’s be reasonable, he’s not known for being discrete.

    and

    B: Once he told a few people, word could have travelled around other Coutts account holders, so the fear of reputational damage was real.

    I cannot believe for one moment that no one knew Farage banked with Coutts before this debacle.



  • Posts: 0 [Deleted User]


    Nonsense.

    That's pure speculation. Nobody talks about their banking arrangements in public.

    The insufficiently wealthy line turned out to be a lie.



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  • Registered Users Posts: 41,062 ✭✭✭✭Annasopra


    It was so much easier to blame it on Them. It was bleakly depressing to think that They were Us. If it was Them, then nothing was anyone's fault. If it was us, what did that make Me? After all, I'm one of Us. I must be. I've certainly never thought of myself as one of Them. No one ever thinks of themselves as one of Them. We're always one of Us. It's Them that do the bad things.

    Terry Pratchet



  • Registered Users Posts: 16,622 ✭✭✭✭astrofool


    Because they are incapable of grasping it, that is the reason.

    They are literally arguing that up is down right now and think it's a great argument.



  • Moderators, Category Moderators, Science, Health & Environment Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 38,635 CMod ✭✭✭✭ancapailldorcha


    That's not it. They know full well Farage isn't far above being a peasant like the rest of us but they can't bear to have their grubby little fantasy get ruined so they parrot the same lies over and over again. Before the dossier appeared, we were supposed to treat Farage, a known racist, liar and Quisling, as some sort of political pope who's word can't be questioned or discussed.

    They've been slavishly shilling for Farage for years. Admitting that he lied as he objectively did would mean that all that time was wasted. Sunken cost fallacy is a heck of a thing.

    The foreigner residing among you must be treated as your native-born. Love them as yourself, for you were foreigners in Egypt. I am the LORD your God.

    Leviticus 19:34



  • Registered Users Posts: 7,215 ✭✭✭HalloweenJack


    Page 9 of that Cutts document which Farage fans hold up as vindicating his financial viability states there are various instances reporting him as a client of Coutts. Here's one example they highlighted from 2019.

    Are we seriously supposed to believe that an article in one of the UK's leading papers is not going to be seen by a decent amount of people?



  • Registered Users Posts: 16,622 ✭✭✭✭astrofool


    They're incapable for those reasons, I don't think it's an understanding thing, just the mental block on accepting reality in a cogent way.

    It comes across to everyone else as looking really dumb.

    They also get "vindicated" by the current tory government now and then which doesn't help their escaping of reality.



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  • Moderators, Category Moderators, Science, Health & Environment Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 38,635 CMod ✭✭✭✭ancapailldorcha


    I think they do. They've spent years virtually campaigning for free for this disgusting individual. They know full well what he represents -cruelty, racism & greed- and they can't have that being questioned.

    The foreigner residing among you must be treated as your native-born. Love them as yourself, for you were foreigners in Egypt. I am the LORD your God.

    Leviticus 19:34



  • Registered Users Posts: 4,960 ✭✭✭Shoog


    Would you like to show us where it was shown to be a lie. Hard evidence now, no hearsay.



  • Registered Users Posts: 16,622 ✭✭✭✭astrofool


    They won't like people calling them racist and xenophobic, they think the couched language and whataboutery is enough cover for it, this lays it bare, an official institution will read through the lines and ignore the childish protests of innocence.

    I mean farage is the poster child for "tell me you're racist without telling me you're racist".



  • Moderators, Category Moderators, Science, Health & Environment Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 38,635 CMod ✭✭✭✭ancapailldorcha


    I was calling Farage racist and xenophobic to be clear.

    Reminds me of a poster who went on and on about illegal immigrants under the sophistry that they should use the legal routes when in the UK those are unavailable. When this was point out, the mask slipped and the poster essentially said "Tough". A lot of people want to freely espouse their hateful opinions. They know that they can but they can't stand being criticised or judged for it so they pretend to be victims themselves. It's incredibly toxic but it also explains the cult behind Farage, Trump, etc.

    The foreigner residing among you must be treated as your native-born. Love them as yourself, for you were foreigners in Egypt. I am the LORD your God.

    Leviticus 19:34



  • Registered Users Posts: 4,960 ✭✭✭Shoog


    The nice thing about all this is Farage loses out whatever he does;

    -he has already lost his Coutts account and they ain't offering it back to him

    -he has made himself to toxic for any elite bank to take him on (maybe one in Russia might accept him for all the good PR work he did)

    -he lost his reputation since he's outed himself as been despised by the British elite and poorer than he would like to claim (maybe he is a man of the people)

    -if he goes to court he will lose his shirt since no laws were broken and no slander was committed (since he released the private dossier himself)

    There are bonuses to boot;

    -if the Tories push ahead with legislation (how would the proposed legislation have saved Farage anyway), they will show themselves to be even more out of touch and elitist than they already are - losing a few more percent in the next election

    Then their is the double bonus that Coutts could actually go out of business as a result.


    What has Farage gained - the admiration of a few 10's of thousands of assholes who already worshipped the ground he walks upon.


    Its a win all-round really.



  • Posts: 0 [Deleted User]


    The UK government has announced a review into the matter to ensure that banks do not discriminate on the basis of political views, so I wouldn't paint the picture as you have done.



  • Moderators, Politics Moderators, Social & Fun Moderators Posts: 15,479 Mod ✭✭✭✭Quin_Dub


    It's a risk assessment document, what do you expect it to contain????

    It contained details of his political views/statements because those are his "risks".

    If he was a property developer it would talk about interest rates and exposure to the rental market in Sunderland or whatever.

    But he's a (would be) Politician and political commentator so those activities form the lions share of his risks when carrying out a risk assessment.

    As has been repeatedly pointed out, Banks don't give a damn about who you are and what you do.

    They care about risk exposure for their profits and that it all.

    If your activities put their profits at risk, they will dump you, it's a simple as that.

    But as long as you are profitable to them then they don't give a **** what you do or say.

    So again, Farage was dropped because he was no longer profitable to the Bank.

    The reason he's no longer profitable is that he doesn't have enough money ( in terms of Coutts) and he is a mouthy twat and that combination made him not worth keeping as a customer.

    Had he had enough money to offset his public twattery, Coutts would have kept him as a customer, but he didn't.



  • Registered Users Posts: 2,584 ✭✭✭eightieschewbaccy


    And they could still shut down his account cause it falls below the required wealth threshold. This appears to be a fact you're just gonna ignore over and over.



  • Moderators, Politics Moderators, Social & Fun Moderators Posts: 15,479 Mod ✭✭✭✭Quin_Dub


    And they will find zero evidence that that has occurred and absolutely nothing will change.

    And Farage still won't qualify for an account with any of the "Rich Boy" banks because he doesn't have enough money.



  • Registered Users Posts: 16,617 ✭✭✭✭osarusan


    Hmmm...bit of a murky area between 'Coutts did it because of his political beliefs' and 'Coutts didn't do it based on his political beliefs, they did because of reputational risk based on his image among the public' when that image among the public is pretty much entirely based on his political beliefs.



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  • Registered Users Posts: 4,960 ✭✭✭Shoog


    Of course you wouldn't 🤗

    What the government say they will do and what they actually do are two entirely different matters. The Elites of London will be applying significant pressure to change nothing since they actually want the anonymity and exclusivity. This government is gone within a year and they will have far bigger fish to fry than pandering to a populist troll.



  • Moderators, Category Moderators, Science, Health & Environment Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 38,635 CMod ✭✭✭✭ancapailldorcha


    They also announced that they'd halve inflation. I doubt Coutts are quaking in their boots.

    The foreigner residing among you must be treated as your native-born. Love them as yourself, for you were foreigners in Egypt. I am the LORD your God.

    Leviticus 19:34



  • Registered Users Posts: 11,774 ✭✭✭✭BattleCorp


    So, Farage's views weren't a risk to the bank while he was paying back his mortgage but they were a risk when he had his mortgage fully paid? How does that make sense?

    You also mention that banks have a file on people keeping track of their ability to pay back a loan. Farage had the loan paid back. There was no chance of Farage defaulting on the mortgage because he had paid it back so clearly there wasn't a financial risk to the bank from that end.

    If the bank were worried about Farage's account being profitable, why didn't they say to him that their rules are x,y,z and you need to either deposit more money or take out another loan etc. or we will close your account. The bank didn't do that. They just wrote to him saying they were closing the account.

    Farage is a horrible individual but from an objective point of view, it looks like the decision to close his account was a political decision.



  • Moderators, Category Moderators, Science, Health & Environment Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 38,635 CMod ✭✭✭✭ancapailldorcha


    They probably did. Farage is, to use you words, "a horrible individual".

    When he paid back the mortgage, he failed to meet their criteria. This has been explained umpteen times and yet people still peddle the lie that it's down to his political views.

    The foreigner residing among you must be treated as your native-born. Love them as yourself, for you were foreigners in Egypt. I am the LORD your God.

    Leviticus 19:34



  • Registered Users Posts: 4,960 ✭✭✭Shoog


    Maybe because they simply didn't want his custom. His diminished status in their eyes were the excuse they needed to carry out their assessment which was based upon his low character.

    Would you be as shocked if an exclusive Golf/Country club were doing background checks on new members ? Coutts similarity to an exclusive country club is far stronger than its similarity to a highstreet bank.


    The underlying question here is do you really want to remove the right of individuals and private organisations to pick and choose who they associate with - because that the core issue here. Think hard about what that means.



  • Registered Users Posts: 11,774 ✭✭✭✭BattleCorp


    So, the banks are now the judge and jury on free speech. Yes, Farage is an objectionable character who has many political views that many reasonable people would find objectionable but he's entitled to hold those views. Are we to allow banks to decide what political views are allowed now?

    Alison Rose, Boss of NatWest Group


    "I believe very strongly that freedom of expression and access to banking are fundamental to our society and it is absolutely not our policy to exit a customer on the basis of legally held political and personal views," she added.

    Even the UK Government are backing Farage on this one.




  • Registered Users Posts: 4,960 ✭✭✭Shoog


    Pyrrick victory for Farage since his status is exactly where it was at the start.



  • Posts: 0 [Deleted User]


    "The underlying question here is do you really want to remove the right of individuals and private organisations to pick and choose who they associate with - because that the core issue here. Think hard about what that means."

    When the gay cake controversy erupted, the same people now telling us that private businesses have the right to decline custom were very much of the exact opposite position at the time.

    It's all about expediency and moulding your position whenever it suits.



  • Moderators, Politics Moderators, Social & Fun Moderators Posts: 15,479 Mod ✭✭✭✭Quin_Dub


    It's a basic cost benefit analysis equation.

    On one side you have the money coming in from Farage via his deposits and repayments and on the other you have the cost of having him as a customer.

    Those costs would have included the increased overheads of managing the account of a PEP - extra compliance requirements, and reporting etc. it would also include the "risk" aspect of what business they might not get or might lose because of who and what Nigel Farage is.

    Once the balance of that equation tipped into negative territory for the bank they made the decision to phase out his accounts.

    Everything you do will form part of the risk profile and what Farage "does" is politics so that's what his risks are.

    If he was Lionel Messi his risks would be breaking his leg.

    I would imagine that Coutts are making decisions like this on a reasonably regular basis, whether that is ending relationships with existing customers or refusing to start with new ones.

    They complete the equation and if there is no profit for them they don't pursue the business.



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  • Registered Users Posts: 4,960 ✭✭✭Shoog


    Its a protected right to be gay (you should be grateful for that liberal progress). End of story really.

    I personally think that the bigots who refused to make the cake should have been allowed to suffer the consequences of their prejudice through falling revenues.



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