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Post by wetkingcanute on Feb 10, 2009 11:27:48 GMT
Upon reflection...you're right.
Fire the fuckers.
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Post by minge tightly on Feb 10, 2009 11:31:12 GMT
Time for this country to stand up to hyper-capitalism. The government can do what the fcuk they like and the bankers can go swing
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Post by tarrant on Feb 10, 2009 11:35:46 GMT
When the economy was good, these bankers were in demand.
They were given generous contracts to stop them moving to other companies thaking their skills and company secrets with them.
Now the whole structure has collapsed, in large part because some US bankers thought there might be money to be made in lending to people without any income at all then selling the debts onto other banks.
Don't know if the legal route is feasable. It isn't my areas of expertese.
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Post by omnipleasant on Feb 10, 2009 11:36:24 GMT
I'm not defending the bonuses. I'm saying that in many cases there is probably fcuk all we can do about it.
You could sack them I suppose. Then still be due redundancy AND their bonus. And might sue for unfair dismissal.
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Post by bertrus2 on Feb 10, 2009 11:36:45 GMT
If we lose, we lose but at least we'll have done the right thing. Thinking of personally funding all our legal costs, are we? |
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Post by flatandy on Feb 10, 2009 11:40:01 GMT
And might sue for unfair dismissal. Unfair dismissal? Losing your company 10s of billions of quid isn't just cause for being sacked? Making it go effectively bankrupt isn't just cause for being sacked? Requiring it to be rescued by Alisdair bloody Darling isn't just cause for being sacked? Causing the shareholders to lose 70% of their equity to the state (and that's not taking into account the collapse of the share price, too) isn't just cause for being sacked? What the fcuk would qualify as fair dismissal? It's not even like the products they sell exist any more. The markets they've been working in are dead, which is why we own them now. Christ. |
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Post by omnipleasant on Feb 10, 2009 11:41:39 GMT
Haha. I suspect the lawyers would have a field day arguing that their particular client wasn't personally responsible for losing billions (or if he was, it was just a routine part of his job description).
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Post by jonren on Feb 10, 2009 11:43:53 GMT
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Post by omnipleasant on Feb 10, 2009 11:44:10 GMT
I reckon we should do whatever we possibly can to stop these bonuses this time round (which might not actually be much).
Then the important thing is learning a big lesson for the future - as Minge said, time for hyper-capitalism to die. Regulate and tax and legislate until the bankers can barely move from now own - and if any cnut tries to tell us that it's "stifling inovation" or "growth", string them up.
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Post by flatandy on Feb 10, 2009 11:45:37 GMT
Honestly, it's getting towards time to march for the revolution, and put all the bankers and the contract lawyers' heads on spikes outside the tower for the ravens to chew on.
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Post by minge tightly on Feb 10, 2009 11:47:40 GMT
Withdraw the bail-out, pull our money back out and let the fcukers sign on.
If we lose a few billion in the process, fcuk it, it will be lost on principle and we can start our own fcuking bank
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mids
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Post by mids on Feb 10, 2009 11:48:17 GMT
If we lose, we lose but at least we'll have done the right thing. Thinking of personally funding all our legal costs, are we? Just my share as a taxpayer. |
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Post by omnipleasant on Feb 10, 2009 11:49:52 GMT
Hehe. That's pretty tempting too actually. Problem is, we'd be cutting off our noses to spite our face a bit. We withdraw the bailout, they shrug and kick back on their seven figure nest eggs whilst the little people suffer big time.
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Post by flatandy on Feb 10, 2009 11:49:55 GMT
Yeah. What Minge said.
Tell them we're going to withdraw all government funds from any bank that is paying bonuses, and they can them choose to waive their bonus or let their bank go out of existence and as the state we'll buy up the loan-book and savings account assets.
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Post by wetkingcanute on Feb 10, 2009 11:50:20 GMT
Steady on Omni, don't get a rush of blood to your head.
'The City' , despite this latest debacle, is one of the great success stories of the UK. It is still in the top two trading places of the world. It earns the money that Brown uses to pay for all his 'public spending'.
It you shackle it -it will die.
and then there won't be any money to pay for Social Workers.
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Post by omnipleasant on Feb 10, 2009 11:54:36 GMT
"'The City' , despite this latest debacle, is one of the great success stories of the UK. It is still in the top two trading places of the world. It earns the money that Brown uses to pay for all his 'public spending'.
It you shackle it -it will die."
Aha. You see, this is why we will never have the reforms we need. Despite everything that's happened, the myth that we couldn't survive if the "City" was "shackled" is still deeply entrenched in some quarters.
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Post by flatandy on Feb 10, 2009 11:56:01 GMT
We'd be so much worse off now if the city had been shackled. Oh yes.
Those shackles that came off, particularly in the last 4 or 5 years, really really helped us get through this recession.
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Post by wetkingcanute on Feb 10, 2009 12:29:45 GMT
in 2008 - a very bad year - Barclays made £6.1 billion profit.
Work out the Corporation tax on that.
and that's just one Bank. Every country in the world has a Bank in London - they have to. Plus we have the biggest Insurance industry in the world. All Shipping and Aviation insurance and brokerage goes through London.
Our economy would be worth diddley squat without the City.
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Woolf
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Post by Woolf on Feb 10, 2009 12:47:22 GMT
Barclays made £6.1 billion profit
Is that including the massive bailout by the Saudis.
They took that option to avoid being monitored by the government.
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Post by omnipleasant on Feb 10, 2009 12:50:05 GMT
£6.1bn profit. Ridiculous. TAX THE FECKERS TILL THE PIPS SQUEEK.
And if they take their ball off to play in Hong Kong in a huff, wave them out.
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