Showing posts with label capitalists with pants down. Show all posts
Showing posts with label capitalists with pants down. Show all posts

Sunday, 8 February 2009

crazy bankers and their employees' bonuses

[drawing- copyright Pinn]
Here's a view about the banks that few will have mentioned.
While people have, with their hearts in the right place, sought to stop all those bankers from receiving their bonuses, I have a couple of things to say. In theory I agree with everyone else. Those guys are rich enough; all of them.
problem one:
The lower level bank workers, particularly, are on contracts. These contracts have bonus clauses. I would hate to take away any workers' rights IN THIS WAY. If these contracts are changed, then it's open to negotiation. Workers are usually screwed in this country, so I see the low-level bankers as workers first, and royal ones too. More power to them.
problem two:
The lower level bank workers were working within a system designed by their upper bosses and Crash Gordon Brown. If the economy went tits-up, it's not the workers' fault, so our jealousy should be parked. If they had the brains to foresee the crisis, then logic would have them being the bosses, not the workers. And the bosses WERE idiots. Most of them had 30:1 ratio of debt to capital. Even I know that's stupid.
I wonder what laws could be created for the government to actually recind executive pay bonuses for our 'public banks'.

Also, if Crash Gordon gave the banks the ability to play fast and loose with all our money and, frankly, with the laws or nature and Cartesian reality, then
CRASH GORDON IS TO BLAME.
Take his pay away.
What Obama is doing, bless him, is controlling those stupid bosses by limiting their pay to 500K bucks, or 2 pounds 95. If he could have put Greenspan and Bush43 in jail, it seems like he would have tried. But let's just focus on cleaning up this mess, in the right way.
Leave the 'workers' alone, for now.
UPDATE: SMART WORKERS & STUPID BOSSES
Paul Moore at HBOS bank group had warned the executives of their overstretched finances and he was eventually fired for raining on the parade. In fact, he was fired by James Crosbie, the guy who was chosen by Crash Gordon to run the FSA and OVERSEE the BANKS! The guy just quit today. Best move he's ever made. Maybe, or so he thinks, he will not be charged or sued for his stupidity at HBOS.

Sunday, 23 November 2008

Savings on ice

I've just realised the full weight of the tax-haven and the laws in the semi-British bailiwicks which surround this verdant fortress of rectitude. The Isle of Man, Guernsey and Jersey (home of the cow) do not have the same banking laws as the rest of the country. Thus, offshore banks can set up shop and if things go tits-up, as they did, the savings of British people are not protected. This allowed some of the Icelandic banks to 'take' the savings of families, organisations, municipal governments, etc.
It is fitting for a government that presents itself [or at least did until recently if the law has changed] as 'the City', where rich Germans could hide their money from their own government. So, tax-haven Britain has no moral leg to stand on in this case. Iceland is not a tax haven, as far as I can tell. How can the UK petition the government of Iceland for those deposits when their whole country is bankrupt, and when their banks did nothing illegal? They just lost all of their deposits because they followed the laws of international banking, i.e. grab the lucre and run. Britain cannot complain about that either, for obvious reasons of authorship. If Iceland pays up on behalf of its '25 crazy bankers' then it will be branded as a haven for stupid politicians. The IMF will instantly set up a torture chamber there
-Costick67 ( 8^P

Sunday, 9 November 2008

Bom dia from Lula. Wake up and smell the Braz coffee






As per the CBC G20 summit report from Brazil, the local politicians have taken the rich world to task for the world-wide financial meltdown. Lula and FinMin Mantega, and the rest of the sane world, believe that new financial regs are required. I'm embarrassed to say that the Canuck FinMin was speaking out his backside when he rejected the idea, (he says) due to the difficulties we're having with the present crisis. To him: Nobody's talking about making this crisis worse, you pelt! (By the way, Canada has largely avoided the repurcusions DUE TO ITS CONSERVATIVE BANKING REGULATIONS.) We're talking about what to do if we survive this one. I foresee a samba protest, worldwide. Ole.
If they have the time, perhaps Brazil should take those communist G7 countries to the WTO for illegally subsidising their businesses and banks. No es monetarism, amigo, now is it?
G7 says: It's ah--ah--ah--ahypocrisy!
Response: Bless you! Thanks for truthing.
[G7 politicians are advised to heed message, below]