Welcome to Cutting Edge. Guests can see and read the contents of most of the boards on this forum but need to become members to read all of them. Currently membership is instant, but new accounts may be deleted if not activated within fourteen days.

If you decide to join the forum, please open your welcome message for further details. New members are requested to introduce themselves on the appropriate thread on our welcome board.

Members may post messages and start threads, but it is essential that they read our posting rules and advice before doing so. If you have any immediate questions or queries, please post them on the suggestions board.

After posting at least ten messages, members are able to contact each other and the staff through our personal messaging system.

This forum is administrated by Ivan and moonbeam and moderated by boatlady and astradt1.

Thank you for visiting Cutting Edge.

Is it right for bankers to act like this? Anyone for a cheap drink?

Page 1 of 5 1, 2, 3, 4, 5  Next

View previous topic View next topic Go down

Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Stox 16 on Mon Dec 19, 2011 12:10 am

So Cameron looks after the interests of the City Bankers while they have a cheap drink or two. are you happy with this?

In an interview with the Times, Diamond said the rule applied to bankers considered to be prima donnas, too greedy, too ostentatious or poor team players. He said he had already kicked out 30 staff for breaking his new ethics rule.

"If someone can't behave with their colleagues and can't be part of the culture, it doesn't matter how good they are at what they do, they have to be asked to leave," he said.

Referring to the incident at the Gordon Ramsay restaurant Petrus, Diamond said: "That was embarrasing. It was taking advantage – we have a responsibility to our colleagues to have acted that way in a public place was inexcusable."

The bankers consumed some of the most expensive wine available to London diners: a 1982 Montrachet priced at £1,400 and three bottles of Petrus Pomerol. A 1945 bottle of Petrus cost £11,600, a 1946 bottle £9,400 and a 1947 bottle £12,300. There was also a dessert wine costing £9,200. The restaurant threw in the food for free.

Still.... as Cameron said, We must look after the interests of the City from Europe. I can see what he means by this. as its so worrying that they are driven to drinking £12,300 bottles of wine. Still they do pay the Tory party £6 million a year to look after them. Wounder who looks after the rest of US? or the 2.7Million Unemployed.
avatar
Stox 16

Posts : 1064
Join date : 2011-12-18
Age : 58
Location : Suffolk in the UK

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Ivan on Wed Dec 21, 2011 12:45 am

Is it right for the Inland Revenue to act like this? George Eaton writes:-

In these straitened times, £25 billion could go a long way. It's the amount that MPs on the Public Accounts Committee claim that HM Revenue and Customs (HMRC) has failed to collect in "unresolved tax bills". The nation's tax collectors stand accused of treating large companies "more favourably" than ordinary taxpayers, of maintaining a "cosy" relationship with the likes of Goldman Sachs and Vodafone, and of providing "no accountability" about whether their deals provide good value for money.

Margaret Hodge, the chair of the committee, denounced HMRC officials for their lack of transparency, revealing that the committee relied on "whistleblowers and Private Eye" to expose alleged tax avoidance. "We found that the head of tax had a cosy relationship with many of the businesses with which he had to negotiate," she said in a quietly damning statement. Indeed, Dave Hartnett, the permanent secretary for tax, has enjoyed 107 dinners and lunches with companies, tax lawyers and advisers over the last two years. When called into Parliament to answer questions he gave "imprecise, inconsistent, and potentially misleading" information. Vindication for UK Uncut, it seems, is at hand.


http://www.newstatesman.com/blogs/the-staggers/2011/12/cosy-relationship-hmrc-tax#reader-comments
avatar
Ivan
Administrator (Correspondence & Recruitment)

Posts : 6903
Join date : 2011-10-07
Location : West Sussex, UK

http://cuttingedge2.forumotion.co.uk

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Stox 16 on Wed Dec 21, 2011 3:19 am

Ivan wrote:Is it right for the Inland Revenue to act like this? George Eaton writes:-

In these straitened times, £25 billion could go a long way. It's the amount that MPs on the Public Accounts Committee claim that HM Revenue and Customs (HMRC) has failed to collect in "unresolved tax bills". The nation's tax collectors stand accused of treating large companies "more favourably" than ordinary taxpayers, of maintaining a "cosy" relationship with the likes of Goldman Sachs and Vodafone, and of providing "no accountability" about whether their deals provide good value for money.

Margaret Hodge, the chair of the committee, denounced HMRC officials for their lack of transparency, revealing that the committee relied on "whistleblowers and Private Eye" to expose alleged tax avoidance. "We found that the head of tax had a cosy relationship with many of the businesses with which he had to negotiate," she said in a quietly damning statement. Indeed, Dave Hartnett, the permanent secretary for tax, has enjoyed 107 dinners and lunches with companies, tax lawyers and advisers over the last two years. When called into Parliament to answer questions he gave "imprecise, inconsistent, and potentially misleading" information. Vindication for UK Uncut, it seems, is at hand.


http://www.newstatesman.com/blogs/the-staggers/2011/12/cosy-relationship-hmrc-tax#reader-comments


The truth is, we all know what the rules are on Tax, The law is not put in place to bend it when you OR the Taxman see fit or when you dislike something. There can be no justification for any company or person to Cheat in my own mind. The Law does not say that its all OK, if company finds a loophole in tax collection, then this somehow makes it justifiable, as in my mind it does not. No person like paying Tax. But when you start a company you know what the rules are. as you get sent some very big books on the subject. its therefore quite wrong that a very big company can then have a dinner with the Tax man and come to some agreement on what tax they should pay. as the majority of hard working people have no say at all in what tax they should pay. this rule should be the same for everyone and not end up as one rule for companies and another rule for the rest of us.

STOX
avatar
Stox 16

Posts : 1064
Join date : 2011-12-18
Age : 58
Location : Suffolk in the UK

Back to top Go down

Why have no bankers been arrested?

Post by Ivan on Wed Dec 28, 2011 1:01 pm

In one month after the UK riots in August, hundreds of rioters and looters were prosecuted and punished by the English courts, often for offences with a value of under fifty pounds. Yet the threat to the well-being of this country was far greater from the bankers than from any number of rioters.

In the three years since the global financial crisis and the virtual implosion of the British banking system, there has not been one prosecution of bankers for their part in the financial meltdown. The banking regulator, the FSA, was supposed to have started “a major investigation”, but why hasn’t the Serious Fraud Office been called in?

As Jon Snow tells us on his blog:-

Investigators on both sides of the Atlantic have had no doubt that criminality, subterfuge, and downright dishonesty accompanied many of the ingredients that brought about the crash. At the very least there was gross dishonesty in the representation of exposure to the sub-prime mortgage business. The convenient fall-guy was the Ponzi magician, Bernie Madoff, who was quickly jailed for thieving billions with his criminal scheme. But Madoff had nothing to do with bringing down the banks. He’d have been jailed anyway. But his jailing served to suggest that a high profile scalp had been secured.

There is a strong impression abroad that the UK doesn’t want to prosecute anyone for the banking crisis, a crisis that has affected every taxpayer in the kingdom. Soon enough the statute of limitations will kick in to ensure that no-one will ever be prosecuted for their role, no banker will ever go to jail
.”

http://blogs.channel4.com/snowblog/bankers-arrested/16148

Why not? Could it be because bankers are natural friends of Tories and, unlike rioters, make generous donations to party funds?
avatar
Ivan
Administrator (Correspondence & Recruitment)

Posts : 6903
Join date : 2011-10-07
Location : West Sussex, UK

http://cuttingedge2.forumotion.co.uk

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by sickchip on Wed Dec 28, 2011 1:15 pm

Because these people are the best at what they do....and we want the best. If we start persecuting these highly able people, or reducing their monies, they will take their undoubted expertise to other places in the world. If we want the best we have to pay for them - these are the only people who can get us through this economic crisis.....because they have the specialist knowledge.

If they abandoned the UK - where would that leave us, who would we turn to then?
avatar
sickchip

Posts : 1149
Join date : 2011-10-11

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by atv on Wed Dec 28, 2011 1:34 pm

Ivan wrote:In one month after the UK riots in August, hundreds of rioters and looters were prosecuted and punished by the English courts, often for offences with a value of under fifty pounds. Yet the threat to the well-being of this country was far greater from the bankers than from any number of rioters.

In the three years since the global financial crisis and the virtual implosion of the British banking system, there has not been one prosecution of bankers for their part in the financial meltdown. The banking regulator, the FSA, was supposed to have started “a major investigation”, but why hasn’t the Serious Fraud Office been called in?

As Jon Snow tells us on his blog:-

Investigators on both sides of the Atlantic have had no doubt that criminality, subterfuge, and downright dishonesty accompanied many of the ingredients that brought about the crash. At the very least there was gross dishonesty in the representation of exposure to the sub-prime mortgage business. The convenient fall-guy was the Ponzi magician, Bernie Madoff, who was quickly jailed for thieving billions with his criminal scheme. But Madoff had nothing to do with bringing down the banks. He’d have been jailed anyway. But his jailing served to suggest that a high profile scalp had been secured.

There is a strong impression abroad that the UK doesn’t want to prosecute anyone for the banking crisis, a crisis that has affected every taxpayer in the kingdom. Soon enough the statute of limitations will kick in to ensure that no-one will ever be prosecuted for their role, no banker will ever go to jail
.”

http://blogs.channel4.com/snowblog/bankers-arrested/16148

Why not? Could it be because bankers are natural friends of Tories and, unlike rioters, make generous donations to party funds?

Or was it in 2008 they were still the friends of Labour, not being tougher in regulating the banks, giving Fred Goodwin a Knighthood and a damn good pension to boot etc,etc. Now less than two years in power the lefties want the Coalition to put right what Labour couldn't do in 13 years of government.
And who do you suggest we start with, Labour's friend Sir Fred, The FSA, the Labour party who were in power at the time???
The list is endless. There won't be any prosecutions because as you well know, it's always someone else's fault.
avatar
atv

Posts : 144
Join date : 2011-10-12
Location : West Midlands

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Guest on Wed Dec 28, 2011 1:58 pm


Why have no bankers been arrested?

For what specific crimes?
avatar
Guest
Guest


Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by jackthelad on Wed Dec 28, 2011 2:20 pm

Why have no bankers been arrested?


They don't arrest people for incompetence, otherwise the whole British government would be behind bars. Most of the Tories deserve to behind bars, they are all a bunch of crooks.
avatar
jackthelad

Posts : 335
Join date : 2011-10-07
Age : 85
Location : Yorkshire

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Guest on Wed Dec 28, 2011 3:00 pm

jackthelad wrote:
They don't arrest people for incompetence, otherwise the whole British government would be behind bars. Most of the Tories deserve to behind bars, they are all a bunch of crooks.

What specific crimes have bankers and Tories committed?
avatar
Guest
Guest


Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by oftenwrong on Wed Dec 28, 2011 6:07 pm

Perhaps incompetence should be on the list of criminal statutes.
Theoretically it is a Company's shareholders who supervise the actions of Directors and can vote against re-election of the failures. Theoretically. In practice the major shareholders are Insurance Companies and Pension Funds who are investing OUR money that we pay in premiums and pension contributions. Their interests are similar to those of most Boards of Directors, they are similar characters, and their children are sent to similar schools. There is little reward for them in "rocking the boat" and most prefer a quiet life anyway.

If you want to have an effect on the way that Banks, or indeed any public companies are run, you must become a shareholder and attend their Annual General Meetings where your vote will count alongside the millions of proxy votes which have been sent in by post.
avatar
oftenwrong
Sage

Posts : 11608
Join date : 2011-10-08

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by astra on Wed Dec 28, 2011 10:14 pm

If you want to have an effect on the way that Banks, or indeed any public companies are run, you must become a shareholder and attend their Annual General Meetings


Don't make any noise though - else you'll get chucked out.



NO discerning voices know wot I mean?
avatar
astra
Deceased

Posts : 1864
Join date : 2011-10-07
Location : North East England.

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Stox 16 on Fri Dec 30, 2011 3:45 am

atv wrote:
Ivan wrote:In one month after the UK riots in August, hundreds of rioters and looters were prosecuted and punished by the English courts, often for offences with a value of under fifty pounds. Yet the threat to the well-being of this country was far greater from the bankers than from any number of rioters.

In the three years since the global financial crisis and the virtual implosion of the British banking system, there has not been one prosecution of bankers for their part in the financial meltdown. The banking regulator, the FSA, was supposed to have started “a major investigation”, but why hasn’t the Serious Fraud Office been called in?

As Jon Snow tells us on his blog:-

Investigators on both sides of the Atlantic have had no doubt that criminality, subterfuge, and downright dishonesty accompanied many of the ingredients that brought about the crash. At the very least there was gross dishonesty in the representation of exposure to the sub-prime mortgage business. The convenient fall-guy was the Ponzi magician, Bernie Madoff, who was quickly jailed for thieving billions with his criminal scheme. But Madoff had nothing to do with bringing down the banks. He’d have been jailed anyway. But his jailing served to suggest that a high profile scalp had been secured.

There is a strong impression abroad that the UK doesn’t want to prosecute anyone for the banking crisis, a crisis that has affected every taxpayer in the kingdom. Soon enough the statute of limitations will kick in to ensure that no-one will ever be prosecuted for their role, no banker will ever go to jail
.”

http://blogs.channel4.com/snowblog/bankers-arrested/16148

Why not? Could it be because bankers are natural friends of Tories and, unlike rioters, make generous donations to party funds?

Or was it in 2008 they were still the friends of Labour, not being tougher in regulating the banks, giving Fred Goodwin a Knighthood and a damn good pension to boot etc,etc. Now less than two years in power the lefties want the Coalition to put right what Labour couldn't do in 13 years of government.
And who do you suggest we start with, Labour's friend Sir Fred, The FSA, the Labour party who were in power at the time???
The list is endless. There won't be any prosecutions because as you well know, it's always someone else's fault.

Now lets have the Full story AEV


During the end of the 1970's into the 1980's British Conservative Prime Minister Margaret Thatcher and the City of London financial interests who backed her, introduced wholesale measures of privatization, state budget cuts, moves against labor and deregulation of the financial markets. She did so in parallel with similar moves in the USA initiated by advisers around President Ronald Reagan. The claim was that hard medicine was needed to curb inflation and that the bloated state bureaucracy was a central problem.

For almost three decades, Anglo-American university economic faculties have turned to Thatcherite deregulation of financial markets as ‘the efficient way,' in the process, undoing many of the hard-fought gains secured for personal social security, public health care and pension security of the population. Now the ‘poster child' economy of the Thatcher Revolution, Great Britain, is sinking like the proverbial Titanic, a testimony to the incompetence of what is generally called Neo-liberalism or free market ideology.

As the Neo-liberal revolution began in the economies of the USA and UK, it should not be not surprising that the epi-center of catastrophe in the global crisis now unfolding also lies with the economies of the USA and UK, as well as a handful of economies, including Ireland Canada, Australia, New Zealand and Iceland, all of which embraced the free market Thatcherite agenda most strongly in recent years. Notably, the man who personally implemented Thatcherite financial market

A sample of most recent British developments is instructive. Britain 's economy is about to suffer its most vicious slump since 1946, shrinking by a drastic 2.8 per cent this year, according to EU latest estimates. The UK is predicted to suffer the worst recession of any large European economy.

The consequences for the UK will include soaring unemployment, while the economy also teeters on the brink of full-blown deflation. Unemployment will rise by more than 900,000 people over the next 12 months, driving the jobless total to 2.7 million by the end of the year

Origins of the neo-liberal model

The so-called neo-liberal finance model which was espoused by the Thatcher government after 1979 had its origins in a decision by leading Anglo-American financial powers and their circle that it was time to begin a wholesale clawing back of the concessions which they had granted under, as they saw it, duress, during the great depression of the 1930's and in the case of Britain the postwar economic difficulties.

True economic causality was obscured and reams of press copy from the Friedmanite free market camp, during the Reagan and Thatcher era claimed that the ‘defeat of inflation' had been due to the ruthless discipline of Volcker and Thatcher. That was, we were told, again and again, the reason why the market should be unfettered from government regulation, freed to the devices of its own unbounded innovative genius. The results of that unfettered ‘humanistic capitalism' or what Alan Greenspan approvingly called the ‘revolution in finance' is now bringing both meccas of neo-liberalism, the United States and Great Britain to economic ruin. Somewhere between this and Stalin's Soviet central planning there lies a better way.

Some critics have charged that the deregulation, and the atmosphere that it created, were responsible for such scandals as the Barings collapse, although others argue the opposite, that the failure to disestablish the old boys' networks completely was to blame.
In May 2011, The Guardian's economic editor, Larry Elliot, wrote: "There is a simple reason why output is still 4% below its peak and growing only slowly: the debt-driven model of economic growth deployed in the 25 years from the financial deregulation of the 1980s to the bank run at Northern Rock no longer delivers."

Try wikipedia as that will do just as well
avatar
Stox 16

Posts : 1064
Join date : 2011-12-18
Age : 58
Location : Suffolk in the UK

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by astra on Fri Dec 30, 2011 1:11 pm

If they (the Bankers) abandoned the UK - where would that leave us, who would we turn to then?

Chip Happy new year to you - and everyone!!

The Tories have always wanted the "working man" to have one hand tied up his back, and the other doffing his cap!!

IMO, we are back to the days before the Tolpuddle Martyrs, whose only "crime" was to teach themselves to read and write!
avatar
astra
Deceased

Posts : 1864
Join date : 2011-10-07
Location : North East England.

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Stox 16 on Sat Dec 31, 2011 1:42 am

astra wrote:
If they (the Bankers) abandoned the UK - where would that leave us, who would we turn to then?

Chip Happy new year to you - and everyone!!

The Tories have always wanted the "working man" to have one hand tied up his back, and the other doffing his cap!!

IMO, we are back to the days before the Tolpuddle Martyrs, whose only "crime" was to teach themselves to read and write!

HAPPY NEW YEAR TOO YOU ASTRA AND EVERYONE ELSE. i could not agree more with you. most working people only real wish is to have a job and a roof over their heads but have to fight like mad to have both theses things today.
avatar
Stox 16

Posts : 1064
Join date : 2011-12-18
Age : 58
Location : Suffolk in the UK

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Ivan on Sat Jan 28, 2012 3:08 pm


('Daily Telegraph' 28.01.12)
avatar
Ivan
Administrator (Correspondence & Recruitment)

Posts : 6903
Join date : 2011-10-07
Location : West Sussex, UK

http://cuttingedge2.forumotion.co.uk

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Stox 16 on Sun Jan 29, 2012 1:14 am

Ivan wrote:
('Daily Telegraph' 28.01.12)

like that Ivan, died funny, but also dead true
avatar
Stox 16

Posts : 1064
Join date : 2011-12-18
Age : 58
Location : Suffolk in the UK

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by oftenwrong on Sun Jan 29, 2012 3:31 pm

Bankers have been extremely successful in demonstrating that they are more powerful than mere Governments.
avatar
oftenwrong
Sage

Posts : 11608
Join date : 2011-10-08

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by bobby on Sun Jan 29, 2012 7:03 pm

@SkyNewsBreak tweeted: Labour to force House of Commons vote calling for RBS Chief Executive Stephen Hester to be stripped of his bonus.

Why only the greedy bastards bonus, take his skin as well.
avatar
bobby

Posts : 1939
Join date : 2011-11-18

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by astradt1 on Sun Jan 29, 2012 7:37 pm

With regard to Hesters bonus i wonder what has happen in the past seven days?

A week ago Scamoron was telling share holders they had the power to stop the excessive bonus now he claims that his government, as the major share holder, would be open to a claim for compensation if it tried to stop hesters bonus.............Was he lying last week or this?...Which one is it?
avatar
astradt1
Moderator

Posts : 959
Join date : 2011-10-08
Age : 62
Location : East Midlands

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Phil Hornby on Sun Jan 29, 2012 9:16 pm

" Labour to force House of Commons vote calling for RBS Chief Executive Stephen Hester to be stripped of his bonus."

I hope this isn't simply opportunism by the Labour Party. If its is, it is an exact replication of what Cameron did to them in government on every possible occasion...
avatar
Phil Hornby
Blogger

Posts : 3932
Join date : 2011-10-07
Location : Drifting on Easy Street

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Stox 16 on Mon Jan 30, 2012 1:14 am

Phil Hornby wrote: " Labour to force House of Commons vote calling for RBS Chief Executive Stephen Hester to be stripped of his bonus."

I hope this isn't simply opportunism by the Labour Party. If its is, it is an exact replication of what Cameron did to them in government on every possible occasion...

Phil
got a feeling we are on quite good ground over this issue. hell...if hester took his ill gotten gain. he would need 24hrs full time security team to look after him. anyway, i understand he will now not take it....bloody good job in my view too.
avatar
Stox 16

Posts : 1064
Join date : 2011-12-18
Age : 58
Location : Suffolk in the UK

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Phil Hornby on Mon Jan 30, 2012 8:47 am

There is every possibility that Cameron already has it in mind to reward Hester by some alternative means not immediately detectable by the public at large...
avatar
Phil Hornby
Blogger

Posts : 3932
Join date : 2011-10-07
Location : Drifting on Easy Street

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by oftenwrong on Mon Jan 30, 2012 10:14 am

Probably give him the Forestry Commission.
avatar
oftenwrong
Sage

Posts : 11608
Join date : 2011-10-08

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Fred Worms on Mon Jan 30, 2012 4:10 pm

Phil Hornby wrote:There is every possibility that Cameron already has it in mind to reward Hester by some alternative means not immediately detectable by the public at large...

Phil.You must know something.Announced today that they will not be blocking any future bonuses.
avatar
Fred Worms
Guest


Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Fred Worms on Mon Jan 30, 2012 4:13 pm

sickchip wrote:Because these people are the best at what they do....and we want the best. If we start persecuting these highly able people, or reducing their monies, they will take their undoubted expertise to other places in the world. If we want the best we have to pay for them - these are the only people who can get us through this economic crisis.....because they have the specialist knowledge.

If they abandoned the UK - where would that leave us, who would we turn to then?

Chip.New on here but do you have any evidence that these Bankers are the best at what they do? If so the restmust be really bad. There is no evidence either that they will quit the UK(HMRC figures show virtually no leavers)..
avatar
Fred Worms
Guest


Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Stox 16 on Tue Jan 31, 2012 3:10 am

Phil Hornby wrote:There is every possibility that Cameron already has it in mind to reward Hester by some alternative means not immediately detectable by the public at large...

Phil
a very fair point, as this sort of thing has been done before. time will show if this is so.
avatar
Stox 16

Posts : 1064
Join date : 2011-12-18
Age : 58
Location : Suffolk in the UK

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Stox 16 on Tue Jan 31, 2012 3:24 am

Fred Worms wrote:
sickchip wrote:Because these people are the best at what they do....and we want the best. If we start persecuting these highly able people, or reducing their monies, they will take their undoubted expertise to other places in the world. If we want the best we have to pay for them - these are the only people who can get us through this economic crisis.....because they have the specialist knowledge.

If they abandoned the UK - where would that leave us, who would we turn to then?

Chip.New on here but do you have any evidence that these Bankers are the best at what they do? If so the restmust be really bad. There is no evidence either that they will quit the UK(HMRC figures show virtually no leavers)..

Fred W
That is also a fair summary in my view. The fact is there is very little international banking CEO head hunting. this is mostly due to the different banking regulations within countries. in my own view anyone within the top 100 within a bank could well act quite well as an CEO within a bank. as these people are not entrepreneurs as the Tory party like to make out. as they are little more than civil servant at best and no more than that. we are dealing here with one of the great right wing myths
avatar
Stox 16

Posts : 1064
Join date : 2011-12-18
Age : 58
Location : Suffolk in the UK

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Stox 16 on Tue Jan 31, 2012 3:25 am

oftenwrong wrote:Probably give him the Forestry Commission.

not sure he could do even this well.
avatar
Stox 16

Posts : 1064
Join date : 2011-12-18
Age : 58
Location : Suffolk in the UK

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Phil Hornby on Tue Jan 31, 2012 1:14 pm

Probably wouldn't see the wood for the trees...... Embarassed
avatar
Phil Hornby
Blogger

Posts : 3932
Join date : 2011-10-07
Location : Drifting on Easy Street

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by atv on Tue Jan 31, 2012 4:47 pm

It should really be strange to note that the Political Wing of the Unite Trades Union has been remarkably quiet over the award of a £500,000 Golden Goodbye to Derek Simpson (Senior Official, Unite Union) when he retired in 2010.
After all, the Unite Union sponsors the majority of Labour MPs.
Although Stephen Hester was awarded a Performance Related Bonus, and earned the £960,000 awarded to him, I wonder whether Derek Simpson generated even £1 of profit for the Unite Union Membership. And whether those who are paying their dues are happy about Banker-type of bonus should be awarded to ANY Trades Union Official.
avatar
atv

Posts : 144
Join date : 2011-10-12
Location : West Midlands

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by oftenwrong on Tue Jan 31, 2012 5:16 pm

Condemned in The Daily Telegraph, The Daily Mail, by The Taxpayers Alliance in 2010, .................. and now by atv.

You can judge a man by the company he keeps.
avatar
oftenwrong
Sage

Posts : 11608
Join date : 2011-10-08

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by atv on Tue Jan 31, 2012 5:37 pm

At the end of the day, the bonus is not being paid.
As for Darling and Brown what they did wrong was not negotiated proper terms of contract and ensured this kind of outrage should never have even been possible, as usual with Brown everything he touches turns to crap. I wouldn't trust him to oversee the appointment of a lollipop lady let alone the head of a failing bank.
avatar
atv

Posts : 144
Join date : 2011-10-12
Location : West Midlands

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by oftenwrong on Tue Jan 31, 2012 7:14 pm

Brown? Darling? What about Attlee, Wilson and Kier Hardie?
avatar
oftenwrong
Sage

Posts : 11608
Join date : 2011-10-08

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by atv on Tue Jan 31, 2012 9:08 pm

So at last the former Royal Bank of Scotland boss Fred Goodwin has been stripped of his knighthood after being heavily criticised for his role in the British bank's near-collapse in 2008.
I'm sure that losing his knighthood will cause a twinge of discomfort for him, however nowhere near as much discomfort that his actions have caused for the 30,000 employees that already have lost their jobs, but why was he knighted in the first place?! It's a reminder of how cosy Labour were with big business and Oligarchs. It makes Ed Milliband's comments this week all the more laughable.
As far as I'm concerned the affair won't be over until he is also stripped of the pension and huge bonuses he got while in the process of bankrupting the country.

avatar
atv

Posts : 144
Join date : 2011-10-12
Location : West Midlands

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by astradt1 on Tue Jan 31, 2012 9:23 pm

Have just been watching Daily Politics on BBCi player and was surprised that during the first item the guest said that Hester had come out of the Bonus argument 'smelling of roses' would be getting simpathy form other bankers for being 'the worst paid banker in the city' and 'simpathy from the public because 'he's taken the moral stand'.....When was the size of his bonus announced?....How long does it take for someone to take the moral stand........And of course teh threat of a vote in teh House of Commons had nothing to do with Hesters decission does it?

Hang on a minute I've just seen some pigs fly past the bedroom window!!!!!
avatar
astradt1
Moderator

Posts : 959
Join date : 2011-10-08
Age : 62
Location : East Midlands

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by witchfinder on Wed Feb 01, 2012 11:06 pm

The argument often put forward to justify huge banking bonuses is that these people have done a good job, and that they deserve it.

In a town somewhere in the UK is a lollypop lady called Edna or Doris, and she has got up at 6.30 am every day for 20 years, summer and winter, sunshine and blizzards, she has safely seen thousands of children safely accross the road - SHE HAS DONE A GOOD JOB.

Sometime soon, Doris or Edna will be made redundant, she will become another statistic, and her payout will probably be between 3 and 5 thousand pounds.

avatar
witchfinder
Forum Founder

Posts : 703
Join date : 2011-10-07
Location : North York Moors

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by oftenwrong on Thu Feb 02, 2012 9:46 am

Fred Goodwin, having been Knighted For services to Banking, but now back to being Fred the Shred, is said to have asked if he could perhaps be Knighted For services to Bankruptcy.
avatar
oftenwrong
Sage

Posts : 11608
Join date : 2011-10-08

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Ivan on Mon Feb 20, 2012 12:05 pm

Is it right for Moira Stuart to act like this?

Many of you will have seen the Inland Revenue advert to remind taxpayers to send in their self-assessment tax forms where BBC newsreader Moira Stuart tells us that "tax doesn't have to be taxing". It certainly isn’t for her. In April 2010 she set up a private firm, Moira Stuart Ltd (of which she is the sole director and shareholder) that allows her to avoid the 50% top rate of tax on some of her income. The device allows individuals to pay as little as 21% Corporation Tax, rather than the higher rate of 40% or top rate of 50% Income Tax. 'The Sunday Telegraph' estimates that in 2010-11, income that Stuart siphoned into this sham company paid Corporation Tax of £4,380 instead of Income Tax of over £11,000.

'The Guardian' has revealed that as many as 25 full-time NHS staff, most on contracts as long as five years, are paid through companies owned by their families. Many were earning well over £100,000 a year. The Department of Health says it is investigating the position.

William Hague wins the hypocrite of the month award for saying: "I'm not very fond of that sort of behaviour……particularly at this time in the nation's history, people should be paying their taxes fully.” He no doubt assumes that we’ve all forgotten how he misled the nation for ten years over the tax status of his personal friend Lord Ashcroft, turning a blind eye to Ashcroft's failure to pay any tax in the UK while he was donating millions of pounds to the Tories.

"All in this together?" What a sick joke that is!

http://www.guardian.co.uk/politics/2012/feb/19/moira-stewart-tax-private-company?newsfeed=true
avatar
Ivan
Administrator (Correspondence & Recruitment)

Posts : 6903
Join date : 2011-10-07
Location : West Sussex, UK

http://cuttingedge2.forumotion.co.uk

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Ivan on Mon Feb 20, 2012 12:21 pm

atv wrote:-
as usual with Brown everything he touches turns to crap. I wouldn't trust him to oversee the appointment of a lollipop lady let alone the head of a failing bank
No, but you're quite happy to trust Cameron to destroy the NHS, despite his promises at the last election that it was safe with him.

Since the last election, the 'useless' Gordon Brown has earned over £1.3 million, and guess what? He's donated every penny of it to charity. He's also declined to take his pension for being Prime Minister. Do you think that Cameron (who, with his wife, is estimated to be worth more than £30 million) will make any such gestures, when he used to claim the maximum mortgage allowance from the taxpayer and even charged us for having his chimney cleared of wisteria? Somehow I think not.

Gordon Brown has his faults, but they pale into insignificance when compared to those of the vicious, lying Bullingdon Club thug who is currently disgracing the office of Prime Minister.
avatar
Ivan
Administrator (Correspondence & Recruitment)

Posts : 6903
Join date : 2011-10-07
Location : West Sussex, UK

http://cuttingedge2.forumotion.co.uk

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by oftenwrong on Mon Feb 20, 2012 3:08 pm

Ivan wrote:Is it right for Moira Stuart to act like this?

Many of you will have seen the Inland Revenue advert to remind taxpayers to send in their self-assessment tax forms where BBC newsreader Moira Stuart tells us that "tax doesn't have to be taxing". It certainly isn’t for her. In April 2010 she set up a private firm, Moira Stuart Ltd (of which she is the sole director and shareholder) that allows her to avoid the 50% top rate of tax on some of her income. The device allows individuals to pay as little as 21% Corporation Tax, rather than the higher rate of 40% or top rate of 50% Income Tax. 'The Sunday Telegraph' estimates that in 2010-11, income that Stuart siphoned into this sham Company paid Corporation Tax of £4,380 instead of Income Tax of over £11,000.

http://www.guardian.co.uk/politics/2012/feb/19/moira-stewart-tax-private-company?newsfeed=true

Is it right? Of course it's right. If it were not, the HMRC would have issued a Bankruptcy Notice for unpaid taxes by now.
If you are asking whether it is legitimate, you are talking about The Law, not the actions of individuals who work within the Law to their maximum advantage.

It was the Construction Industry that spawned the Company selling the services of its only Director, over thirty years ago. It began with Architects and Quantity Surveyors and spread as far as Plasterers and Elecricians etc.

If the government doesn't like it, it only has to change the Law. An awful lot of Tory supporters would be caught by such changes.

Incidentally it's totally inaccurate to describe " Moira Stuart Ltd " as a sham company. since it is a properly Registered legal entity at Companies House and you can see its Accounts upon application to Companies House. (There are tens of thousands similarly registered Companies with a sole Director.)
avatar
oftenwrong
Sage

Posts : 11608
Join date : 2011-10-08

Back to top Go down

Re: Is it right for bankers to act like this? Anyone for a cheap drink?

Post by Sponsored content


Sponsored content


Back to top Go down

Page 1 of 5 1, 2, 3, 4, 5  Next

View previous topic View next topic Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum