Monday, 3 August 2009


Bonuses Back As Big Banks Make Billions - Sky News
Barclay's profit up to almost £3bn - BBC News
Banks defend bonus culture as profits jump - The Guardian

What is there to say?
They got us into this mess with their arrogance and sheer naked greed, and while the unemployment queue grows, business fail and house repossessions go through the roof, they are back to their same old ways.
The only politician with an ounce of sense, Vince Cabel, described it as "appalling" and said that "Without the taxpayer, many bankers would be without a job let alone a huge bonus."
As far as i can see, nothing has changed at all despite all the talk of tougher regulation on the banks to stop them tipping us over the edge once again.
The only winner seems to be the banks who know that they can do what they want and if they win the gamble then they can clean up with massive profits but if it all goes belly up again, our leaders will be there to bail them out with our money. In the case of Barclay's, prostituting themselves to Middle East businessmen.
If Gordon Brown has one iota of self respect left, he would levy a windfall tax on the lot of them to reduce how much he, or rather the next Conservative Government, will have to raise taxes to scrape back the spiralling national debt.
Maybe i'm wrong and the banks will use these profits to help ease the burden on their hard pressed customers but then again i have yet to see the silhouette of a flying pig against a blue moon.


Nog said...

The whole banking system of the West is a great example of mercantilism at its worst. Governments (in the form of central banks) and businesses get together and so they make trillions and the rest of humanity gets screwed.


Kvatch said...

As far as i can see, nothing has changed at all... thing has changed. The US government is now Wall Street's "indemnifier of last resort". We may as well get used to the kleptocracy we have become.

Lucy said...

It's just so maddening that they can get away with it. Are our Governments so afraid that they are just going to let it happen? Seems like they are. Luckily ours is out in 18 months at the very most.

Anonymous said...

If you all think banking is such a sure deal then why don't you buy bank stock?