Anarchists warn. "This is just the start"

bluey890

mewbie wrote: »

And we are all upset about that? Why didn't he just say "yeah I did my job, it all went pear shaped thanks to that idiot Brown, and you expect me to carry the can. I'm off mate, I'm the one person in the UK with a better pension than an MP".

some of us are. qe is making my foreign holidays more expensive.
the financial system and mps were in it together, they pay taxes, reguator&mps don't ask questions. worked fine when things were going up

mewbie_2

At least Fred seems to have bought a house with his money. Rather than those who have maxed out every possible avenue to pretend they are a big shot.

bo_drinker

One word....... Greed is why we are where we are. Up !!!!!! creek.

subarusty

bluey890 wrote: »

some of us are. qe is making my foreign holidays more expensive.
the financial system and mps were in it together, they pay taxes, reguator&mps don't ask questions. worked fine when things were going up

Blimey - you really like your foreign hols if that is the only things that has got you this wound up.

JP45

subarusty wrote: »

The deal was a bad one for the government, not Fred's fault - he got the most he could for himself, fair enough.

I really think the wrong person is getting the blame, the government have a lot more to answer for than 1 banker.

It was clearly a good deal for Sir Fred but it wasn't just a bad deal for the government. It was a bad deal for all of us.

Any time someone gets rewarded for failure, as Sir Fred has been, it's a bad deal. Of course he's not alone. There have been numerous examples over the past eighteen months of others, such as Applegarth and Fuld, who have steered their banks into the rocks and yet walked away with pensions and payoffs that ordinary folk could only dream of.

One of the most remarkable things to have emerged from this whole crisis is the realisation that bankers have engineered for themselves a system of remuneration that sees them richly rewarded whether they succeed or fail.

To receive £700k a year for the rest of your life from age 50 having played a key role in the destruction of a major bank just beggars belief.

1echidna

JP45 wrote: »

To receive £700k a year for the rest of your life from age 50 having played a key role in the destruction of a major bank just beggars belief.

I am prepared to admit that to reach the position he did Sir Fred must be a man of high talent, drive and ability. The way society is organised now such men whether they be in other branches of business, politics or even football management they often carry 'insurance' against failure as it were and receive substantial payoffs/pensions in the event of failure. This may be a price for attracting the top people to a job. Personally I would worry more about the size of the salaries some people achieve rather than being too concerned about the 'insurance' they carry though clearly in Sir Fred's case both were too high, I think, given the deprivation of others in society.

mewbie_2

JP45 wrote: »

To receive £700k a year for the rest of your life from age 50 having played a key role in the destruction of a major bank just beggars belief.

I don't believe he was employed specifically to destroy the bank. Or as some would have you believe the entire global economoy and the known galaxy. I think he was a highly successful individual who made a few bob.

On the other hand this weekend we can all cheer on some people who also get paid a lot and can play football quite well.

bluey890

mewbie wrote: »

I don't believe he was employed specifically to destroy the bank. Or as some would have you believe the entire global economoy and the known galaxy. I think he was a highly successful individual who made a few bob.

running a bank into the ground is a strange definition of success.

pickles110564

bluey890 wrote: »

running a bank into the ground is a strange definition of success.

There is now way that anyone heading a business today would know or understand what is going on in the background, it would be impossible.
But it does not excuse the fact that he still has to carry the can when things go wrong.

ninky_2

Yes prepare for the big anarcho demonstration tomorrow with the 'Put People First' march and rally, kicking off in London 11.30am.

Attending will be such well known fringe movements as ActionAid, Salvation Army, Oxfam and the National Pensioners Convention (watch out for the latter, particularly known for petrol bombing behaviour).

This group of anti-establishment miscreants have such anarcho-revolutionary demands as "create a fair distribution of wealth", "decent jobs and public services for all" and "a low-carbon future".

The public are warned to stay indoors.