Capitalism.

[moggyonspeed]

Jan 16, 2018 19:10:15 GMT mids said:

I'm sure they do but public sector types, who include MPs, look on enviously at the lifestyles of their private sector chums and think, "Hmmmm, I deserve that".

Anyway, has there ever been a time when large infrastructure works or house building was actually done entirely by public sector employees? I've no idea.

All public sector types (your implication), some unquantified number of public servants, or merely that disgruntled road sweeper you met down the pub?

I work with public servants, over half of whom are some of the best scientific minds I’ve ever had the privilege to call colleagues, and the notion that these people are motivated by money is WAY wide of the mark. They care far more about their reputation, their place in the academic pecking order and the science that they develop for the benefit of people in the U.K. and elsewhere. For sure, there will be exceptions, but I just don’t recognise your general characterisation.

[mids]

Well, we were discussing Carillion and the awarding of contracts so it seems likely that my implication was to do with the people who are in a position to award such contracts rather than street sweepers or people who work in public health etc.

[nobody]

Monbiot claims this is all part of the PFI scheme, where contracts are awarded, if the company fails, Govt. is obliged to pick up the tab.

[perrykneeham]

That's probably not far off the mark. That"s got to be in the back of their minds.

[flatandy]

Yeah. Like a stopped clock, even Monbiot is right occasionally.

[mids]

I'm going to have to agree that, amazingly, Monbiot might be right.

[Deleted]

The company is owned by Philip Nevill Green, not to be confused with Philip Green from Arcadia Group. He became Chairman of the company in 2014 after serving as Chairman for BakerCorp from 2011.

Green has acted as an advisor to former PM David Cameron on corporate responsibility, and was awarded a CBE for his services to business and charity in 2014.

[mids]

Probably a massive remainer.

[perrykneeham]

I see these princes of commerce (pronounced "common thieves") have gone Route 1 as usual and dipped into other people's pensions:

www.bbc.co.uk/news/business-42853895

We really do need string a few of these fuckers up, just to make an example of them.

[Deleted]

Tip of the pension-deficit iceberg. Hope you're covered.

[perrykneeham]

I'm covered in as much as I have a company pension which is outside the control of the company. Just as well: I wouldn't put it past them to do a Philip Green.

[perrykneeham]

I do hope KPMG get reemed over this.

[flatandy]

I really don't trust pensions. I'm inclined to think that becoming rentier landlord scum is the best way of funding my indolent elder days so I don't have to work the aisles at B&Q as an 85 year old.

[perrykneeham]

Yeah, my pension provision is shite. I thought we'd have enough wedge after we moved to get on the Rackman bandwagon, but Hyacinth has screwed that particular pooch.

[moggyonspeed]

So do I, but it's unlikely.

Look at Ernst & Young, Lehman Brothers' auditors leading right up to LB's collapse in September 2008. E&Y signed off on LB's accounts less than one quarter from their final implosion. And the result? In spite of US authorities vowing to throw the book at E&Y, an out-of-court settlement of $10M saw E&Y fundamentally off the hook. A lot of money, maybe, to you and I, but peanuts to the merchant-banking community.

[perrykneeham]

I wouldn't be sad to hear that the mouthy prick in charge of Goldman Sachs had been raped by dogs either.

[jimboky]

Jan 29, 2018 15:09:17 GMT flatandy said:

I really don't trust pensions. I'm inclined to think that becoming rentier landlord scum is the best way of funding my indolent elder days so I don't have to work the aisles at B&Q as an 85 year old.

being a landlord will cure you of liberal ideas, careful there

[voice]

I think my pension will be reasonable and enough to keep the wolf from the door, but I'm also kind of relying on my house helping given its doubled in value over 10 years, but if the bubble burst, who knows?

[flatandy]

I think government pensions (for those who had jobs in the public sector) are the only ones that feel like they're certain to exist in three decades, and even then there's a good risk that their values shrink. Even a proper privately owned private pension, independent of employment, is at risk of the annuity company collapsing.

[voice]

My problem is I've not worked that long in Canada, to get 25 years I've got to work till I'm 67. I'll get a bit from the NHS and a bit of UK state pension so hopefully it will be enough so I don't end my dotage as a Walmart greater just to make ends meet.