tag:blogger.com,1999:blog-32841798.post1078939912387871917..comments2024-03-28T22:45:51.014+00:00Comments on Capitalists@Work: Obama and the Banker quick shuffleCityUnslickerhttp://www.blogger.com/profile/15929544047783163175noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-32841798.post-66108025631305740532010-01-25T17:07:06.655+00:002010-01-25T17:07:06.655+00:00I watched a programme that investigated some of th...I watched a programme that investigated some of the recent scandal surrounding Fred Goodwin. So many non-executive directors who were, themselves, high ranking members of other banks. <br /><br />My understanding was that the non-executive directors were there to provide balance and represent the interests of the shareholders. Clearly, I was completely naive because it was, as has been said before, all so much back scratching.<br /><br />They all get their salaries and bonuses from their main employment and then additional salaries from their secondary employment saying yes so that others can get their salaries and bonuses from their main employment who then, in turn, become the first bank's non-execs.<br /><br />It's quite horrible. And then you hear that bin men and nurses and people actually working in public services are all being told that there is no money for them to have a payrise at all.<br /><br />These are the guys who, eventually, pay for those fat cats.<br /><br />Grrrrrr!<br /><br />Sorry, rant over.Joanna Cakehttps://www.blogger.com/profile/15944673677004607976noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-4767927980310072402010-01-23T11:24:30.371+00:002010-01-23T11:24:30.371+00:00There really is obscenity to that MS payout.There really is obscenity to that MS payout.James Highamhttps://www.blogger.com/profile/14525082702330365464noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-23814685817345126652010-01-23T01:56:16.774+00:002010-01-23T01:56:16.774+00:00I think we're trapped in a self-fulfilling pro...I think we're trapped in a self-fulfilling prophesy.<br /><br />Bankers, deep inside, have foregone any notion of patriotism believing that the West is done for. They fill their boots while they can ...<br /><br />... and so the West is done for.<br /><br />We have 15 years max.<br /><br />The wrong president, the wrong PM, the wrong politicians.<br /><br />None of them have a handle on this.Electro-Kevinhttps://www.blogger.com/profile/18073103431166273080noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-63018804375338549062010-01-22T19:58:56.565+00:002010-01-22T19:58:56.565+00:00"Old South"... The majority shareholders..."Old South"... The majority shareholders are almost always big institutions, pension funds and the like. They are run by people very similar to "the bankers" and who are on very similar terms and conditions - or to put it another way, if they rock the boat <i>their</i> bonuses get hit too. Mutual back-scratching guarantees that all the "top brass" get their money and it's just the "ordinary shareholders" who get shafted.Pogohttps://www.blogger.com/profile/10812765444160924585noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-787444688584190272010-01-22T19:31:27.571+00:002010-01-22T19:31:27.571+00:00Where are the shareholders, and why don't they...Where are the shareholders, and why don't they object?<br /><br />If they don't object, and demand dividends, they are idiots.<br /><br />But it's a free country--shareholders get to be idiots without gov't intervention. <br /><br />Or they should.OldSouthhttps://www.blogger.com/profile/01381229263357074199noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-57180140753726037962010-01-22T18:31:07.561+00:002010-01-22T18:31:07.561+00:00CU I think you are spot on that everything that cu...CU I think you are spot on that everything that currently takes place will continue to do so, just in different parts of the economy e.g. private partnerships and hedge funds.<br /><br />However, don't you think one of these new companies operating in a less regulated space could become too big to fail? Which sort of defeats the purpose.<br /><br />I am still unsure on the detail on how banks will be affected. E.g. BarCap doesn't really have a prop desk and the private equity boys didn't make any money so could be sold off or shut down with minimal impact. The bulk of the business is client driven, which I think is allowed to stay?Richard Elliothttps://www.blogger.com/profile/00565380446421416586noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-91525288256474722892010-01-22T13:27:31.273+00:002010-01-22T13:27:31.273+00:00I am with you guys, this is a good outcome. The co...I am with you guys, this is a good outcome. The compromis is that they still get to run the economy and get rich - just not by risking us too!CityUnslickerhttps://www.blogger.com/profile/15929544047783163175noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-15414148831598647492010-01-22T13:25:44.519+00:002010-01-22T13:25:44.519+00:00"Assisted suicide in Scotland" - is that..."Assisted suicide in Scotland" - is that a PC term for Tennants Extra Strength Lager?Elby the Beserkhttps://www.blogger.com/profile/15060519682739666145noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-91170260048886820032010-01-22T11:10:51.952+00:002010-01-22T11:10:51.952+00:00SL - I don't know about US company law, but in...SL - I don't know about US company law, but in the UK LLPs still have to publish their accounts...Old BEhttps://www.blogger.com/profile/06974090439936326476noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-17468217798525899912010-01-22T10:37:30.130+00:002010-01-22T10:37:30.130+00:00Re "while the casino bankers are playing with...Re "while the casino bankers are playing with their own money": yes. As long as it is their own money that they play with,and they are not able to leverage themselves with loans provided by the banks.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-32841798.post-11752865038547182002010-01-22T10:26:37.619+00:002010-01-22T10:26:37.619+00:00All true Mr. Slicker, but if the end result is tha...All true Mr. Slicker, but if the end result is that retail banking is protected, while the casino bankers are playing with their own money and without State guarantees or taxpayer bailouts, I can't see any downside.<br /><br />Maybe I missed something.Weekend Yachtsmanhttps://www.blogger.com/profile/04262853091154005651noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-54878755160583842852010-01-22T10:24:46.018+00:002010-01-22T10:24:46.018+00:00They'll form LLP's methinks BE.They'll form LLP's methinks BE.Steven_Lhttps://www.blogger.com/profile/05029437876479574883noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-10678765486927333722010-01-22T09:48:56.649+00:002010-01-22T09:48:56.649+00:00Banks as partnerships could be quite a good model,...Banks as partnerships could be quite a good model, at least the risk-takers then share the downside.Old BEhttps://www.blogger.com/profile/06974090439936326476noreply@blogger.com