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THE 23 February 1995 and the ensuing days are not ones that I am likely to forget. Not least because the 25 February marks the date of my birthday but, by some strange twist of fate, these are the same days that mark the collapse of Barings bank.
So in my world, my birthday is always inextricably linked with the most embarrassing period of my life. It’s a tough one: Do you celebrate, commiserate or lower your head in shame and hide away?
The fact is, it’s been 20 years now since the judge handed down my sentence. I don’t believe that there is a minimum length of remorse that I was told to serve.
However, life moves on and it’s important that we all remember that.
On the 23 February 1995, I left Singapore for the last time. Finally, I’d been asked an intelligent question about the illegal trading position that I was holding on the Singaporean International Money Exchange and there was no longer any way to continue the deception.
My number was metaphorically and literally up.
Planes, trains and automobiles comes to mind. I needed the quickest route out of Singapore.
Paranoia was my constant companion; everyone was looking at me. As I approached the immigration desk, it seemed that my passport grew to twice the size of everyone else’s and that every conversation in the departure lounge concerned me. Every nod of the head was directed at me and there was no way out.
Somehow, I managed to stumble aboard the plane and start – what for this period of my life – was the beginning of the end. My simple apology note when I hit mainland in Malaysia escalated the problem that the bank was facing.
Early on the morning of 24 February, the Barings’ desks on the trading floor were vacant. The more astute vultures on the trading floor were already collecting memorabilia. By the close of business, Barings had informed the Bank of England of its insolvency and the message was conveyed to parliament.
The weekend of 25 and 26 February 1995 saw intense discussions taking place in the City of London. Was there a way to rescue Barings for the second time in its history or were the losses too big to quantify, or more importantly, to accurately calculate?
Unfortunately, the latter was the case and on the evening of 26 February, all 232 years of history of Barings bank was placed into administration. In the early morning of 2 March, I was arrested leaving a flight at Frankfurt airport and handed over to the border police.
It is impossible to distance myself from the embarrassment that still is the overriding memory of that period. I wanted to be successful but will always be remembered for my biggest failure.
That still rankles to this day but whilst it was a livid open wound in the beginning, as you read and heard things about yourself, it does become easier to live with.
No longer do the words disgraced banker, fraud, criminal feel like fingers digging deeper into that open laceration, they simply brush off the scar tissue that now remains.
As much as that period serves to remind the financial world of how badly things can go wrong, it also serves as a reminder that you can recover and move on. I suppose that has been the most empowering part of my journey; at least to me. Prison was quickly followed by divorce and the onset of cancer, chemotherapy and a very bleak outlook.
Somehow though, you garner the strength to overcome. I firmly believe that it is innate within all of us and that we are only ever confronted by problems that we are able to work through.
I sat down with my two sons earlier this week to discuss in more detail than they’ve previously heard about the collapse of the bank and the messages that I would like them to take from my experiences.
I was never a great communicator but thankfully I have had to become one through the circumstances that I have had to face. It’s not always easy and I started by keeping a diary. Confronting my thoughts and problems on paper was an easier way to start.
The lessons I gave my sons are all quite simple but I think they need to be regularly enforced.
Nick Leeson now lives in Barna, Galway.
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Not long now before he skulks off, 2020 beginning to look up…. better late than never.
Oh god. Here we go… I hope it’s stays peaceful.
@Kris Kendellen: In fairness the Hilliary supporters protested for months after trump got in in 2016 so nothing new here
@Shaun Gallagher: Hillary conceded on the night of the election and was gracious in defeat. A week since PA was called for Biden and Trump is still being a cry baby.
@Shaun Gallagher: Protesting is where the comparisons end. Back in 2016 a lot of people felt hard done by the electoral college and Hillary losing after securing nearly 3 million more votes than Trump. Biden has won both in 2020, the White supremacists planning to show up today just want to cause mayhem for the sake of it.
@Jen: If the march is peaceful then there will be no mayhem. Let them have their march. Ignore it and then carry on.
As for 2016, Hilary may have conceded but she has never accepted the result. She has trotted out all sorts of conspiracy theories in the yeas since and the left, including the media, have never accepted Trump’s presidency. You have to expect the right to push back a little now.
Finally, the popular vote is a meaningless statistic. Everyone knows how the election works over there and the rules apply to all equally. Hillary just ran a terrible campaign and paid the price. She thought it was in the bag and became complacent. I’ll bet that’s what annoys her the most in hindsight.
@Kris Kendellen: I hope they leave their guns at home.
@Will: what conspiracy theories has she trotted out? Russian interference, that was proven? I don’t believe trump colluded with them before you say it but there is certainly more than enough evidence to suggest they went on a solo run.
@Will: The popular vote result of Clinton vs Trump shows how bad the electoral college system is.
@Dave Harris: So, the 4 million California excess votes should over-rule the other 49 states?
Sometimes I just love the comedy that comes from the Trump deluded fanatics – their spokesperson for the Women for America First March is a man. #maga
I wonder will BLM/Antifa as usual start trouble?
@Jamo: I would wager that the crowd who aren’t accepting the results of an election are the trouble makers to be honest. Is there a precedent for this in the Western world?
@Ben Darley: Hasn’t been any trouble yet even though Trump lost, could you imagine Antifa if Trump won? There would be cities burning.
@Jamo: Antifa….lol…. you make it sound like a bad thing..
@Jamo: scary bogeyman Antifa, just another exaggerated enemy to scare the American population
@Jamo: you’re not the brightest light, are you Jamo…
@Jamo: You do know that when people say Antifa, it’s as silly as saying, Did you see the forecast for tomorrow, there is going to be a lot of weather”
@Jamo: Can’t have them uppity no good lefties pestering the poor innocent Proud Boys and Oath Keepers in their Christian crusade, can we?
@Jamo: @Jamo: Can’t have them uppity no good lefties pestering the poor innocent Proud Boys and Oath Keepers in their Christian crusade, can we?
@DJ François: Reds under the bed!
@EdmundOrlando: Whats good about Antifa?
@Jamo: Stop digging man. Stop watching Trump propaganda.
Listen to the FBI about who the real domestic terrorists are. White nationalism.
@Jamo: ANTI FAscist
@Jamo: Rubbish takk
@leolaup: surely the FBI are not describing themselves as domestic terrorists… I think the main form of terrorism is financial with a splash of corporatism for good measure. Its time we all woke you a realised that but unfortunately we are contributors as we work in these places. Anyways not the discussion for now but give it a few years.
@Ben Darley: yea your so right it’s always President Trumps supporters just like all the cities that the destroyed in the run up to the election oh how stupid of me wasnt it President Trump that put a stop of the shops and buildings been set on fire the looting and not to mention all the murders
@Jamo: Antifa is an ideology, not a group like the KKK and the countless other right wing gangs falling in behind trump. And Do you understand why the BLM started?
@EdmundOrlando: cause it is, Antifa r a destructive force who just wanna burn it all down! Maybe u should read some of there literature b4 commenting
@Cian – Wash your: FREEDOM FIGHTERS
They must be all good people to right?
Maybe don’t read the tin, and delve a little deeper
@Paul Furey: Antifa is not a organisation is that what u r saying!! U r wrong, do some research then comment, when I say research I mean outside that comfortable little left wing bubble u r in
@Paul Furey: Ye right Paul that’s why ACAB is written all over cars and buildings in multiple US cities.
@James greene: Have you heard of Kyle Rittenhouse, who murdered two men? Trump supporter.
Have you heard of the men who wanted to kidnap the governor of Michigan Gretchen Whitmer? Trump supporters.
Dr Anthony Fauci needs 24/7 security. Why? Trump supporters.
@Al.Dunne: No, antifa is not an organisation. You’re the one living in a bubble if you believe they are, maybe drop the unregulated far right blogs and get your news from credible sources in future.
@Ben Darley: I’ll tell you now Rittenhouse will not be convicted of murder. The evidence is there to show (I believe should not have been there in the first place) he was being attacked first
@Jamo: They are not considered a terrorist organisation unlike the white supremacists
@Jamo: What is Anifa have you any idea at all.
@Will: No they have described them as the biggest terrorist threat internally in the US
@Paul Furey: No they dont and thats the sad part.
@Johnny Al Lenn: “unregulated far right blogs”. As a opposed to your Regulated far left blogs!!!
Thanks for the laugh !!!
Waah. Waah. Waaaaaaah…..
@Greg Ward: interesting
Most will get lost or will march around in circles bumping into each other, I wouldn’t worry
@Patrick Hughes: Excellent comment
@Patrick Hughes: they might assemble at the Four Seasons Landscaping Company.
The be fair there was marchers in 2017 #notmypresident ect . What comes around goes around
@Peter Laurent: There wasn’t a global pandemic then.
@Peter Laurent: they weren’t contesting the results just displeasure
@Peter Laurent: there is likely to be gun wielding, white supremacist Neo-Nazis involved today, so I think there’s a major difference. Actually it was Republicans who started using the hashtag #notmypresident during Obama’s presidency, something given greater impetus by Trump as he kept spreading the racist birther conspiracy theory. He and his racist supporters could not accept the legitimacy of an African American as president.
@Sean Murnin: yea buy there was a pandemic when the were burning and looting shops and buildings and destroying cities not to mention all the innocent murders remind who’s supporters were the after all amazing how you forget to mention that I wonder why
@James greene: I’m sorry, I have read your comment a few times and I still genuinely can’t make sense of it. Try again but, type slowly this time :)
@Peter Laurent: massive fail there mate!!
@Sean Murnin: so u must have an issue around the street parties when joe win then ?
@Paul Furey: wow such incisive comment there , well done you !
@Al.Dunne: You’re absolutely right, they shouldn’t have been out celebrating in such close proximity to each other. However, what I will say in favour of Joe’s supporters was at least the vast majority were wearing masks. I know some trump supporters will be wearing masks too (KKK hoods)
The blind leading the blind comes to mind
Are they disparate supporters or desperate supporters?
Slow down Sleepy Joe wasting all that energy , and realize that Mainstream Media are not the ones to certify the outcome result call on the Presidential Election..
@Laz Mahon: sleepy Joe put the overweight muppet out of office.
@Laz Mahon: not as sleepy as…u. bet you can’t orate like him…
@Laz Mahon: turns out sleepy Joe isn’t that sleepy. He put stop to Trumpism. these trump supporters couldn’t commit themselves to intelligence so it’s unlikely they’ll stay with trump past the next 12 months ;)
@The Guy is Here: u mean nearly half the American population, so inclusive of u !!
@Al.Dunne: half the American population is below average intelligence so yeah they could account for most of the trump supporters. Add in the bigots, the White supremacists, the anti abortion fanatics and of course the “its fine for everyone to own automatic weapons” loons and you have accounted for pretty much all the trump supporters.
Look up the stats: The higher level of education an American has the less likely they are to support Trump.
It doesn’t take a whole lot of brain power to recognise the rabble rousing nonsense trump spouts for what it is.
@The Guy is Here: I would say in 12 months time after the great so called Reset your attitude will change quite quickly, when your freedom is curtailed even more . This is usually what happens when you support Socialism / Communism. This is the battle between good and evil for the country. No one is asking for people to like Trump but look at the policies and values of both people.
@Wood Jackson: With Technology its a amazing what a Teleprompter can do for you.
@Laz Mahon: so let me get this straight.
Socialism, the basic tenets of which are everyone in society help each other and all chip in to help the weakest members of society is evil..
while Capitalism,
a system that promotes everyone for themselves, grab as much as you can and to hell with helping others at the expense of the poorest people and the environment, is the system of good??
While neither have panned out very well in practice, I find it hard to follow your good vs evil take on it.
@Laz Mahon: The great reset, that QAnon theory, there are conspiracy theories and some conspiracy theories. This has to be the most ridiculous one ever. Off the wall does not come close, it’s so wild and fanciful that the shocking part is people believe it. You can fool some of the people all of the time, the describes the followers of QAnon.Off the wall does not come close,
A coronavirus convention!
Let them march, why are people holding counter protests when Biden clearly won? Let the the Trump klan have their day to embarrass themselves and stay home.
Will there be good people on both sides?
Following the Tax Dodger’s logic the NFL has brought in a new rule to decide the Super Bowl. If the team that loses on the scoreboard has a bigger score than the previous year’s winner, then they are declared champions.
So, the last Super Bowl ended on a score of Kansas City 31 – San Francisco 20. But the year before the Patriots won by scoring just 13 points (to LA Rams 3 points). Under the new Tax Dodger rule San Francisco are declared winners and Kansas City are fined for fraudulently scoring 31 points. Makes perfect sense if you’re a MAGATT.
THE BOZO LIER TRUMP THIS MAN SHOULD BE IN JAIL FOR HIS CRIMES INCLUDING MASS MURDER
@Anthony Ross: Trump is a clõwn bit when did he commit mass murder?
@D’oh: The US has 5% of the world’s population, but 20% of the Covid deaths, and you can (should) get jailed for killing one person. Seems unlikely that Trump is not responsible for even one of those excess deaths.
@Type17: incompetence is not murder.
@Craic_a_tower: negligence then
@Derek: still not murder
@Type17: I suppose that’s a good idea we should hold all world leaders to account for anyone that died from the China virus why single out President Trump after all he did Promise that a vaccine was almost ready but the fake news made a laugh of that and how amazing that the waited a few days for the election to be over before announcing that there was a vaccine I wonder way ?
@Anthony Ross: Jail is what he is trying to avoid by hanging around. He wants a pardon and immunity from prosecution for his money laundering family, plus a whip round to raise a billion to pay off his debts and another billion to live on in some country without an extradition treaty with the US. He will get his way (as with Nixon.) The damage he can do in the next 8 weeks is far greater then the desire most people have for him to face justice. The establishment just want rid of him and to paper over his toxic legacy – as they did with Nixon.
@James greene: People have died all over the world, despite the best efforts of governments and populations, but having four times the world average of deaths must fall into the realms of at least criminal negligence, reckless endangerment, or maybe even manslaughter or possibly even murder. There is clear evidence from public statements/tweets and actions that were carried out by his government, that he has caused a high proportion of these deaths. 9/11 killed around 3k and the US fought wars (in the wrong places) over that – the current death toll in the us is over 83 (yes, Eighty-Three) 9/11′s.
Ah sure is fashionable nowadays to march against and protest
I predict something of a damp squib here
Y’all Queda is marching on DC
Start of the civil unrest movement ? Civil war?
Sad to know we still have supporters of Fascism and Racism in Ireland .
@maxie o connor: what’s even sadder is some snowflakes can’t engage in debate without the constant need to label people to justify there ignorance in certain topics
#justsayin
@Al.Dunne: interesting that a comment complaining about the presence of racists in ireland triggered you. Why so sensitive.
Surely the existence of racism here is something denounce??
@john doe: oh corse it is joe, thanks for stating the obvious! Using it as a way to label people with different opinions is not !
Btw a response to a message is not triggered !
@Al.Dunne: you are defending these people and saying they are not far right https://www.splcenter.org/fighting-hate/extremist-files/group/proud-boys
If you could explain how it isn’t racist they might explain your twisted logic. You for example say you are not a hypocrite nor a Trump supporter. What you claim about yourself doesn’t actually matter when facts and quotes show it is just another lie.
@Al.Dunne: To quote Popper, “Unlimited tolerance must lead to the disappearance of tolerance. If we extend unlimited tolerance even to those who are intolerant, if we are not prepared to defend a tolerant society against the onslaught of the intolerant, then the tolerant will be destroyed, and tolerance with them.”
Simply put, we don’t have to sit by and just let white supremacists spew their hate.
@Craic_a_tower: great source u pulled out there dude, ffs!! Your honestly putting that out there as a creditable source!!
Btw where is all this violence u shouted about last week that was going to pop off??? (Crazy racist running around with guns!)
Put simply for the last time the proud boys is a joke hyped up by hysterical lefty groups because u need any enemy to keep all u lemmings singing off the same Hymn sheet
Look up who set them up & why
Who is there current leader
While it has morphed from what it was set up, it’s still fing joke
Lastly the election is called when it is officially called, that’s not the media job, get over it!
@Bee Bonthuys: or sit by n watch your city/business/income get destroyed!! That logic works both ways my friend !
@Al.Dunne: so you won’t deny the quotes of who you support?
They keep mention the 72 million that voted for him, with absolute no regard for the 77 million who voted for Biden. The reaction is childish
Million muppet march
Who are the proud boys? They sound like a bunch of andy pandys in hot pants, and will they all remember to bring there guns with them.
Reminds me of a time they tried something similar in Italy a few years back
Superb stuff witnessing that place implode after they allowed the wolf into the henhouse.
Come on journal , stop copying n pasting AP!
Proud boys r not a far right group, like many turning up r not far right, to label them like this just ridiculous journalism! 71 million voted for him are they all far right or all muppets from lowbrow comments above. Let them have there March, I would be more worried about Antifa turning up also & wrecking the place as is there form , not trump supporters
@Al.Dunne: Proud Boys are a far right group if you measure from the center. If you measure from the far right then they are fine. The wones in the body armour and carrying the AR-15 is you lot. Mind you the may have a problem in DC https://www.usconcealedcarry.com/resources/ccw_reciprocity_map/dc-gun-laws/#:~:text=Washington%2C%20D.C.%20is%20a%20shall,carry%20is%20illegal%20in%20D.C.
Start of the second american civil war
Trump will be getting a second term, fact
With hindsight President Trump only has himself to blame, although others may get fired. Just over 4 million votes separate a second term from loosing. voting-eligible population for this election, 239,247,182 (ish). Turnout, 158,831,694 – 165,000,000.
His supporters in majority turned out to vote on voting day but President Trumps failure to win postal votes determined this election.
Time for him and his family to get more creative accounting going. They are famous for it after all. To have the biggest most bigly crown every seen like his inauguration crowd, tiny to Obamas but hey they are good with imaginary numbers
Muuuurrrrikaw!
Trump will always be known for being a one time President. Almost 78 million Americans decided that and the Proud boys are not happy.
How tragic that a sitting President cannot be presidential and concede defeat. His supporters would rather dismiss his failings and lack of leadership, even in the midst of a pandemic, in order to absolve themselves from any blame of voting for a failure.
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