I have seen a front page headline set for tomorrows papers whereby a chairman(I Think)of one of the big banks(barclays? ...I'm guessing)Says we have returned massive profits increases for gods sake get off our backs.
I am almost ...yeah almost ...speechless.
I have said before they just don't get it do they ...and yet again I have to say THEY JUST DON'T BLOODY GET IT.
Inflation is rising (and we have yet to see if this gets affected by quantitative easing and rises yet further)
Unemployment is rising and will get much worse after the election
Savings are dwindling and attracting paltry interest rates.
Lending at reasonable interest rates is next to impossible to get...for individuals and even worse for small businesses.
...so what do the banks do for our economy ...raise the interest on credit cards to an obscene 18%. Now tell me which sector of our society is that going to hit the hardest?
I cut my credit card up 20 years ago so I am one of the lucky ones but I feel for those who have had little choice but to resort to thses as means of survival.
I feel so strongly about this corporate avarice and stupidity I feel like starting a peoples bank ....
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The Banks - AGAIN!
Master of Sex
when our them have money at zero percent ,so they can speculate and still do dodgy deals,how can they not make billions?
wish i could get my raw materials for nothing,see the bloody great profit i`d bankers.
wish i could get my raw materials for nothing,see the bloody great profit i`d bankers.
The way I see it, there are actually two issues here, although they are partly related:-
1) The high bonus payments to individuals, yet again! These are payable for their claimed good performance in the money trading markets etc.
2) The charging of high interest rates on credit cards when the wholesale cost of money to the card companies is probably "zilch".
The payment of big money to high achievers (in any field)is probably OK, provided that ordinary folk are not made to directly suffer - the problem with bankers over recent years is that they have NOT delivered and the bonus payments are really on false pretences.
Now the high interest rates combined with reduction in new lending and contracting credit limits, is in my view, quite immoral. These days many have to borrow to live decently and if they are restricted too far and beyond normal prudent limits, then goods are not purchased so frequently and the econmomy will retract (well I suppose the bankers will be spending though!) There may be deeper reasons for some of the high interest rates of course, but the current level of pressure on borrowers cannot be justified.
Plim :sad:
1) The high bonus payments to individuals, yet again! These are payable for their claimed good performance in the money trading markets etc.
2) The charging of high interest rates on credit cards when the wholesale cost of money to the card companies is probably "zilch".
The payment of big money to high achievers (in any field)is probably OK, provided that ordinary folk are not made to directly suffer - the problem with bankers over recent years is that they have NOT delivered and the bonus payments are really on false pretences.
Now the high interest rates combined with reduction in new lending and contracting credit limits, is in my view, quite immoral. These days many have to borrow to live decently and if they are restricted too far and beyond normal prudent limits, then goods are not purchased so frequently and the econmomy will retract (well I suppose the bankers will be spending though!) There may be deeper reasons for some of the high interest rates of course, but the current level of pressure on borrowers cannot be justified.
Plim :sad:
And, I just read the Stephanomics blog on the BBC, from which you can deduce that
(a) public sector got slightly better pay rises than private sector this year; well, fine, they do much worse than the private sector the rest of the time so that's fair enough, besides which somebody's got to have some money to spend or we're all buggered
(b) the banks got higher pay rises than anyone! What the fuck? Yeah briliant.
Their whole argument about having to pay everyone loads of money to make sure they get the best people only works if they actually do get the best people; looks like the vast majority of them have been pretty shite over the last however many years though; surely the sector as a whole shouldn't be getting pay raises at all at the moment, since they've created the recession that's fucking up everybody else just now.
(a) public sector got slightly better pay rises than private sector this year; well, fine, they do much worse than the private sector the rest of the time so that's fair enough, besides which somebody's got to have some money to spend or we're all buggered
(b) the banks got higher pay rises than anyone! What the fuck? Yeah briliant.
Their whole argument about having to pay everyone loads of money to make sure they get the best people only works if they actually do get the best people; looks like the vast majority of them have been pretty shite over the last however many years though; surely the sector as a whole shouldn't be getting pay raises at all at the moment, since they've created the recession that's fucking up everybody else just now.
