Why Absa dumped the Guptas

[scudsucker]

Be careful what you say. When we look from the other side, bankers who do not treat customers fair might find better business prospects with foreign governments.

So what?

A business is free to do business with whomsoever they wish. If their service does not please the majority of their customers they will fail. If their service does not please one rich, influential and corrupt family.... who gives a ****?

Certainly not the banks. Your defence of the Guptas is bizarre given all of the revelations in the news recently.

 

[j4ck455]

Be careful what you say. When we look from the other side, bankers who do not treat customers fair might find better business prospects with foreign governments.

Someone has had a few too many drinks at the #saxonwoldShebeen.

 

[ponder]

sajunky, what's you're business association with the guptas? This not only one bank & the issue has been escalated upstream.

This might require further investigation.

 

[crackersa]

sajunky, what's you're business association with the guptas? This not only one bank & the issue has been escalated upstream.

This might require further investigation.

I thought the same as he's white Knighting for them.

 

[OrbitalDawn]

This is all about risk and how a business mitigates it. Banks took the right decision under the circumstances. It was pretty clever from PG to preempt the whole process by approaching the court. Courts will side with PG and the banks on this one.

PG?

 

[f2wohf]

PG?

Pravin Gordhan

 

[falcon786]

Yes and this is a problem. It is a basic service and cannot be denied to individuals. You can't get paid salary without bank account and you will be unable to pay people's salary having closed bank account like it was in this case. Bank made political decision with disregard to suffering by many who were employed by the company. No notice, no reasoning.

What? We don't live in a cashless society.They can pay people in cash no problem.

And it's not a basic service you actually don't need a bank account to survive in SA.

 

[ToxicBunny]

Be careful what you say. When we look from the other side, bankers who do not treat customers fair might find better business prospects with foreign governments.

You live in a very strange and twisted world and you have less then no idea about banking regulations, foreign exchange regulations etc

 

[sajunky]

You live in a very strange and twisted world and you have less then no idea about banking regulations, foreign exchange regulations etc

I live in the twisted world where without bank account I cannot run business. Try to open dealership account with most of companies, you will see that bank account is required. You can't even pay cash for goods in some places. Receiving payments is even more difficult.

Perception has been created that if I carry cash with me I am suspect to be a drug dealer or a terrorist.

Banking is de-facto essential service. It is regulated by specific exclusive regislation, so banking is not a normal business. Even the normal business is not allowed to refuse dealing with individuals based on sex, skin colour religion, social or political affiliation (like it is in the case of Guptas).

I am being continuously accused of defending Guptas. I repeat... It is not about Guptas, it is about consitutional rights and our rights as a customer to not be prejudiced by anticompetetive or politically influenced mafia operating inside the banks.

 

[j4ck455]

I live in the twisted world where without bank account I cannot run business. Try to open dealership account with most of companies, you will see that bank account is required. You can't even pay cash for goods in some places. Receiving payments is even more difficult.

Perception has been created that if I carry cash with me I am suspect to be a drug dealer or a terrorist.

I'm just wondering what sort of business you are running that generates so much cash revenue and you don't even have a bank account.

Please elaborate about your dealer account.

Have you considered trading in Bitcoin (or are you already)?

Banking is de-facto essential service.

Use other banks that have a presence in South Africa for your business, those banks can make a plan like they do for the Guptas:

The ANCYL leader got given a multi-million rand home financed through one of those deals.

Millions of rands were suspiciously transferred out of a mining trust fund into one of those banks.

Don't be so defeatist, anything is possible when you put your mind to it.

It is regulated by specific exclusive regislation, so banking is not a normal business.

http://lmgtfy.com/?q=regislation

Even the normal business is not allowed to refuse dealing with individuals based on sex,

I prefer not to have sex with businesses but I will not discriminate against those with odd fetishes.

skin colour religion,

I will not discriminate against odd religions even when it seems a tad racist to create a religion around skin colour.

social or political affiliation (like it is in the case of Guptas).

I am being continuously accused of defending Guptas. I repeat... It is not about Guptas, it is about consitutional rights and our rights as a customer to not be prejudiced by anticompetetive or politically influenced mafia operating inside the banks.

Now you're just being disingenuous and the mafia together with the politicians they control can be found at #saxonwoldShebeen, it's possible that there is a branch of Bank of Baroda there.

 

[ToxicBunny]

I live in the twisted world where without bank account I cannot run business. Try to open dealership account with most of companies, you will see that bank account is required. You can't even pay cash for goods in some places. Receiving payments is even more difficult.

Perception has been created that if I carry cash with me I am suspect to be a drug dealer or a terrorist.

Banking is de-facto essential service. It is regulated by specific exclusive regislation, so banking is not a normal business. Even the normal business is not allowed to refuse dealing with individuals based on sex, skin colour religion, social or political affiliation (like it is in the case of Guptas).

I am being continuously accused of defending Guptas. I repeat... It is not about Guptas, it is about consitutional rights and our rights as a customer to not be prejudiced by anticompetetive or politically influenced mafia operating inside the banks.

No it's not about your supposed rights as a customer or the constitution.

My original statement stands, you have no clue about the legislation under which the banks operate and are just making yourself look like more and more of an idiot by getting on your Ill informed soapbox

 

[sajunky]

I'm just wondering what sort of business you are running that generates so much cash revenue and you don't even have a bank account.

Please elaborate about your dealer account.

Have you considered trading in Bitcoin (or are you already)?

Sorry pal, it is getting personal. Maybe I have no clue, but what makes you so nervous? Oh, I know eventually... Bankers know well that they screwed up and they can be out of the business... soon.

Court ruling would be a miracle for them, saving their assess. Response in this threadd is an indicative level of frustration.

PS. I didn't analyze carefully the rest of the crap, so no comment.

 

[j4ck455]

Analysis Completed

Sorry pal, it is getting personal. Maybe I have no clue, but what makes you so nervous? Oh, I know eventually... Bankers know well that they screwed up and they can be out of the business... soon.

Court ruling would be a miracle for them, saving their assess. Response in this threadd is an indicative level of frustration.

PS. I didn't analyze carefully the rest of the crap, so no comment.

I get it, your beans are baked after you realised that you have no valid argument and instead of admitting that you are the only frustrated and nervous poster, you are accusing the rest of us of being nervous and frustrated, which is your problem not ours.

 

[Sinbad]

He'd probably be the first to castigated a bank that financed the Suidlanders

 

[supersunbird]

If bank had any evidence of concealing funds or assets, it should inform authorities, but not closing accounts without notice. Bank made purely political decision on dealing with some politically linked individuals and I think they crossed the line. If Zuma camp survive, ABSA will be forced to sell their assets.

Then don't go doing illegal-like, drawing attention to oneself, things like landing at Waterkloof Air Force Base for a private wedding and having some TMPD (I think it was) give you a blue light escort to Sun City (way out of their jurisdiction). Before that, who knew of the Guptas besides that they owned Sahara computers?

 

[ToxicBunny]

Sorry pal, it is getting personal. Maybe I have no clue, but what makes you so nervous? Oh, I know eventually... Bankers know well that they screwed up and they can be out of the business... soon.

Court ruling would be a miracle for them, saving their assess. Response in this threadd is an indicative level of frustration.

PS. I didn't analyze carefully the rest of the crap, so no comment.

How do you figure a court ruling would save their asses?

Us right minded folk see the court ruling as a confirmation that they did the right thing.

Response in this thread only shows frustration in just how little you know about the situation regarding the banks, the regulations they operate within and the Guptas/Zuma cabal.

 

[undesign]

Sorry pal, it is getting personal. Maybe I have no clue, but what makes you so nervous? Oh, I know eventually... Bankers know well that they screwed up and they can be out of the business... soon.

Court ruling would be a miracle for them, saving their assess. Response in this threadd is an indicative level of frustration.

PS. I didn't analyze carefully the rest of the crap, so no comment.

LOLZ...

Guptas are the victim of government's own bank regulation. Delicious, beautiful irony.

BTW you really don't have any idea what your talking about. But enjoy.

 

[sajunky]

LOLZ...

Guptas are the victim of government's own bank regulation. Delicious, beautiful irony.

BTW you really don't have any idea what your talking about. But enjoy.

I agree on this.
They followed blindly NWO guidelines and didn't look at the plot closely enough. Even with above banks can be heavily fined for discrimination.

Banks are not clean as some posters suggest between lines. There are currently number of problems with banks and one of them is ever increasing industrial espionage. For every loan applied banks request detailed project and then they pass this information to the competitors who belong to the inner circle of the elite. Before even project is started your competitors know about it and your loan can be declined if it is a threat to monopoly. Now under umbrella of fighting with drugd, money laundering and terrorism they can exchange this information (almost legaly) with other banks. Something went terrible wrong and these international spying ties have to be cut to protect governments in developing countries.

On the bankers side serious mistake exposing themselves was made in February(?) this year which was in purpose to unseat Zuma. So far all attempts to impeach Zuma, replace by ANC executive committe or force to resign failed and now bank managers can be even accused for treason. It is why many posters in this thread who claim to be bank epmloyees say I have no clue and they even escaped to the number of personal remarks.

As a person having absolutely no idea what I am talking about I would like to point out that concept of banking for everybody had been on the cards for sometime and already implemented by Post Office. I don't know how it works in practice, but it is an indication that government is considering banking as an essential service.

Will be watching following insults, I do enjoy Christmas, do you?

 

[supersunbird]

I agree on this.
They followed blindly NWO guidelines and didn't look at the plot closely enough. Even with above banks can be heavily fined for discrimination.

Banks are not clean as some posters suggest between lines. There are currently number of problems with banks and one of them is ever increasing industrial espionage. For every loan applied banks request detailed project and then they pass this information to the competitors who belong to the inner circle of the elite. Before even project is started your competitors know about it and your loan can be declined if it is a threat to monopoly. Now under umbrella of fighting with drugd, money laundering and terrorism they can exchange this information (almost legaly) with other banks. Something went terrible wrong and these international spying ties have to be cut to protect governments in developing countries.

On the bankers side serious mistake exposing themselves was made in February(?) this year which was in purpose to unseat Zuma. So far all attempts to impeach Zuma, replace by ANC executive committe or force to resign failed and now bank managers can be even accused for treason. It is why many posters in this thread who claim to be bank epmloyees say I have no clue and they even escaped to the number of personal remarks.

As a person having absolutely no idea what I am talking about I would like to point out that concept of banking for everybody had been on the cards for sometime and already implemented by Post Office. I don't know how it works in practice, but it is an indication that government is considering banking as an essential service.

Will be watching following insults, I do enjoy Christmas, do you?

I guess the lesson here is to not advertise your PEP status... Waterkloof AFB landings, New Age and ANN very pro government media (advertising SOEs heavily, those "breakfasts")...

 

[sajunky]

I guess the lesson here is to not advertise your PEP status... Waterkloof AFB landings, New Age and ANN very pro government media (advertising SOEs heavily, those "breakfasts")...

There is always businnes supporting political party or individuals. Why did you drop Mbeki's house story, as he resigned?