March 28, 2024, 03:40:13 PM *
Welcome, Guest. Please login or register.

Login with username, password and session length
News: NEW CHILD BOARD CREATED IN THE POLITICAL SECTION FOR THE 2016 ELECTION
 
   Home   Help Login Register  
Pages: 1   Go Down
  Print  
Author Topic: Big City Banks "they are gambling with other people's money."  (Read 1373 times)
0 Members and 1 Guest are viewing this topic.
WhiskeyGirl
Monkey All Star Jr.
****
Offline Offline

Posts: 7754



« on: July 13, 2009, 01:55:25 PM »

"Big City bonuses are back! Less than a year after banks took billions in taxpayer-funded bailouts..."

Quote
John Mann, a Labour MP on the Treasury Select Committee, said: 'This is money for nothing.

'They are gambling with other people's money. They cannot lose from it. The idea that we should be allowing this culture to continue is quite mind-blowing.'

Goldman's bankers pocketed rewards running into millions of pounds throughout the credit boom for brokering a wave of major takeover deals.

These deals disappeared in the wake of the credit crunch in 2007.

But now that so many of its rivals have failed or been taken over, Goldman can charge more for advising clients and helping them raise money. Many companies are having to re-finance their debts, which means fat commissions.


Quote
The return of the mammoth bonuses will enrage millions of credit-starved businesses and families, who will be paying for the paying for clean-up of the banking system for years to come.

Taxes are expected to soar and spending on key public services will be slashed as successive governments grapple with the ballooning national debt.


Read more: http://www.dailymail.co.uk/news/article-1198904/City-banks-reward-staff-mind-blowing-bonuses-months-bringing-world-economy-brink-meltdown.html#ixzz0LABGgjWG&C

Eliminate competition, privatize profits, socialize losses...it continues.

jmho
Logged

All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
they'll end up in your family anyway...
Pages: 1   Go Up
  Print  
 
Jump to:  

Use of this web site in any manner signifies unconditional acceptance, without exception, of our terms of use.
Powered by SMF 1.1.13 | SMF © 2006-2011, Simple Machines LLC
 
Page created in 2.13 seconds with 20 queries.