UK News article filters out £16.3 Trillion number

islandannie

Generali wrote: »

I don't really understand your question. Do we identify the greedy bankers and force them into bankruptcy through some previously unknown route and their money given to people who borrowed money? Is that what you're saying?

Identification is easy,they are all guilty .

From the branch manager to the dealer on the floor they have all played fast and loose with other peoples money.

All were quite happy to accept dissproportiate gains through bonuses which were linked to turnover not profit,but good lord if we mess up the public purse has to pay.

Justify that if you can?

Generali

islandannie wrote: »

Identification is easy,they are all guilty .

From the branch manager to the dealer on the floor they have all played fast and loose with other peoples money.

All were quite happy to accept dissproportiate gains through bonuses which were linked to turnover not profit,but good lord if we mess up the public purse has to pay.

Justify that if you can?

I can't justify and wouldn't as I don't think the banks should be bailed out by the Government.

So you think the best solution is to bankrupt everyone that has worked for a bank and to give the money to borrowers? Might work. I have my doubts on a practical level. What about a bank teller married to a teacher. Do we bankrupt them both or do we try to identify the assets of the banker only. Do we confiscate bonuses or salary or everything?

islandannie

Generali wrote: »

I can't justify and wouldn't as I don't think the banks should be bailed out by the Government.

So you think the best solution is to bankrupt everyone that has worked for a bank and to give the money to borrowers? Might work. I have my doubts on a practical level. What about a bank teller married to a teacher. Do we bankrupt them both or do we try to identify the assets of the banker only. Do we confiscate bonuses or salary or everything?

No I think it a ridiculous assumption that bank tellers and ordinary bank employees should be penalised.

I think I made it quite clear that spivs and jacketed boys deserve no bonus for failure.

Generali

islandannie wrote: »

No I think it a ridiculous assumption that bank tellers and ordinary bank employees should be penalised.

I think I made it quite clear that spivs and jacketed boys deserve no bonus for failure.

Oh ok. What level should the confiscation start at?

islandannie

Generali wrote: »

Oh ok. What level should the confiscation start at?

Are you asking what level of Management/

Generali

islandannie wrote: »

Are you asking what level of Management/

Just who should have some or all assets taken. Eg managers only or do some professionals such as auditors, risk management analysts, traders, brokers, sales traders, analysts and valuation modelling experts have some responsibility.

I'm just trying to see how you think this would work on a practical level.

How would you deal with a banker married to a non-banker?

islandannie

Generali wrote: »

Just who should have some or all assets taken. Eg managers only or do some professionals such as auditors, risk management analysts, traders, brokers, sales traders, analysts and valuation modelling experts have some responsibility.

I'm just trying to see how you think this would work on a practical level.

How would you deal with a banker married to a non-banker?

A banker married to a non banker is no different to a nurse married to a plumber.

The board of directors are directly responsible for the performance of the company and in their particularly speciality of banking they have been PROVED to be absoluletly incompetent and probably criminally irresponsible

I am convinced that shortly we will see some prosecutions along those lines.

The ordinary bank worker is totally innocent but will no doubt pay a much higher personal price than the people who precipitated this crisis.

StevieJ

pandamonia wrote: »

This is worrying

No, You are worrying.

crazygaijin

Its pointless debating something that will never happen.

Yes its very unfair that the top bankers have got rich by ordinary people getting poor plus they are given fat bonuses for doing it, then the Gov throws billions at them on top of everything else.

On top of all that they have messed up so much of the wold economy that this could be the worst depression ever, yes far worse than the one at the begining of the 20th century.

So instead of saying what would be fair to take money of the rich bankers, why not just accept the world is unfair always has been always will be.


I am more interested in how bad things are going to get. Most people still have no idea whats going on. The original poster has showed the gov is trying to cover up how bad things really are.

That would be a far more productive, than debating which bankers should give back the greedy spoil that they unfaily stole from the rest of us.

amcluesent

>The Commission estimates that so-called financial instruments in the trading book total £12.3 trillion<

Is that at the absurd 'mark to market' basis that accountants have dreamed up?