Interrogating the bankers

Generali

chris_spackman wrote: »

Well said.

Did you hear the question put to one of them by an MP, the question was ' what banking qualifications do you have' to which the reply was' none'

Do you know much about banking qualifications? Should a bank board member be a Chartered or Certified banker or merely a holder of a Certificate of Banking?

Rochdale_Pioneers

dealsearcher wrote: »

Well said? Here we go again. Labour have been in power for alomst 12 years and yet it is still all the Tories fault. Come on!

No you're completely missing the point. Labour have been in power, its our watch so obviously we carry the can. The point is that at no point have the Tories proposed to do what they're now criticising the government for not doing. So yes the government should have clamped down on pay and bonuses and excessive risk. The Tories can't moan about Labour not having done so because they hadn't proposed doing it either. Nor at the moment are they proposing to do it in the future.

So its fine to knock the government for things they failed to do. But lets not pretend that the Tories had been warning about any of this and proposing solutions to save us. They were caught just as on the hop as the government.

SGE1

I thought it was quite interesting overall.

What came out of it was that bankers knew what they were doing, but the prospect of a good margin stopped them from worrying about it.

For all the negative chat about MPs on here, I think they did a rather good job of asking the right questions.

Also nice to know that I'm not the only one dealing with incompetent banks, John Mann had a good rant at the HBOS team for sending him the account details of another gent called John Mann!

dealsearcher

Rochdale_Pioneers wrote: »

No you're completely missing the point.

I may be missing your point, but I am not missing the point. The government is there to govern. The opposition can only criticise. Maybe they didn't criticise at the time, but which is worse? To govern poorly or to mistime your criticism of the government?

bo_drinker

None of them had any real qualifications. Fk me if you went to an average place for a job and admitted that they would show you the door. Is it me ?????????? Surely this should have been picked up years ago.

Rochdale_Pioneers

dealsearcher wrote: »

I may be missing your point, but I am not missing the point. The government is there to govern. The opposition can only criticise. Maybe they didn't criticise at the time, but which is worse? To govern poorly or to mistime your criticism of the government?

Cobblers. At election time it is the job of the opposition to offer their platform for government. We've had 2 elections in Labour's time in office and not once has the Conservative plan for government proposed to do all the things they accuse the government of not doing.

Admit it - the Tories have been as clueless at spotting this one coming as Labour, the Republicans and Democrats in America, Fianna Gael, the CDU etc etc. You're right in that their job now mid term is to criticise. But they had two opportunities when they stated what they would do Friday if elected Thursday and neither occasion did they say anything about the city and capping activities.

So please, lets drop this tosh that the Tories would have been doing things differently. The evidence simply doesn't support such an argument. If instead you look at their continuing calls for less regulation and for the city to stay competitive vs high levels of regulation elsewhere, they are STILL not pledging to do the things they complain that Brown isn't doing.

bo_drinker

Dooooooooooooooonut wrote: »

To echo the general here, what qualifications should they have had? Certain roles within a bank require specialist qualifications but most don't...

Not too long ago only 1 in 20 of us (by which I mean the UK in general, not bankers) had degrees

Needs to be looked into then. Seeing as the !!!!!! they got us into or again is it me? If not required why were they asked if they had any... any thing would be better than fk all surely.

tomstickland

I don't see what's wrong with bonuses. I think it's a side-show.
Bankers will behave like people with a gambling scheme if it works, regardless of the long term effects. They have to join the madness if everyone else is doing it.
The system has to be regulated to stop it overcooking.

SGE1

dealsearcher wrote: »

I may be missing your point, but I am not missing the point. The government is there to govern. The opposition can only criticise. Maybe they didn't criticise at the time, but which is worse? To govern poorly or to mistime your criticism of the government?

It's not about the Tories mistiming criticism, it's about them being blatant hypocrites.

purch

To echo the general here, what qualifications should they have had?

In fact there are probably too many over-qualified t*ats on the Trading Floors of these Banks.

Too many, with Masters Degrees in Statistics or Applied Math who 'thought' they are/were cleverer than everyone else, and could think up brilliant new ways of making money, which,as it turned out were anything but !!

Bring back the "Barrow Boys"