World Wide recession!!!!

[billyfridge]

What is going on? I don't understand it.....Why should the Tax payer have to bale the fat cat bankers out of the sh-t they got themselves in?
How will it affect me 

[texasboy]

What is going on? I don't understand it.....Why should the Tax payer have to bale the fat cat bankers out of the sh-t they got themselves in?
How will it affect me 

So that the fat cat bankers can continue to charge you everytime you are overdrawn. Shouldnt affect you much unless you become a bad boy. We now own 40% of our banks as taxpayers, but dont let that fool you, because this Labour government hasent got a clue as to what it going on. When you look at the profits that the banks have just made,billions, and they are crying poverty due to the crunch. Yes we are victims. Billy no one gives a Sh*t about us punters out there. The fat cat share holders are looking for the big dividends,and the banks and government will continue to make sure they get their just rewards. You only have to ask yourself .Why are we living in relative poverty, struggling to pay gas/electric/food bills, when suddenly Labour can come up with billions to bale out the robbing bas*ards of banks,who in turn have been putting the screws on us for years with their penalty charges.

Let Gordan try to live in the real world in Manchester with his government pension. Dont think so. Lets see the billions help the people.!!
cheers

[Quantum]

Do 2 both honestly think that  ? If it hadn't been for the sub-prime mortgage problem in America we'd of been fine, sure the practices may of been a bit loose and fast with debt over here but it would have hardly caused a recession.

So, if the government had left it as it was there was a chance that one of the big U.K banks would of gone under, taking the whole U.K economy with it. Governments deal in abstracts because it's the only way to help everyone out, Gordon Brown can't go round to everyone struggling in the U.K with money problems ad give them £500, for a start it'd cause more problems than it would solve.

Also to counter both your points, assuming that 1 of the big banks don't go under which would of been catastrophic anyway, the government are going to make a fair bit of profit out of this by soaking up shares while they're cheap and selling them when they're back to normal, potentially saving the tax payer or helping build the U.K infrastructure in the future. The real people making a loss out of this is the shareholders.

[fuzzytomcat]

What is going on? I don't understand it.....Why should the Tax payer have to bale the fat cat bankers out of the sh-t they got themselves in?
How will it affect me 

Hey Billy,

I hate to say it but it looks to me as a complete restructuring of the monetary system and redistribution of the wealth world wide based on the paper it's written on, need more money call the printer. This to me is the down fall of the entire concept of net worth, now it's what the term worth means and to whom, who determines the price, the market or demand. What at one time was based on Gold, Silver or cash in the bank has now been replaced with money owed on paper or commodities on hand ready to sell.

Who is really at fault the bank lending money on shake investments or the business that borrowed and over manufactured and couldn't sell there product, the consumer that made bad economic decisions or that didn't make projected purchases.

When any corporate CEO's make more money than the President or Prime Minister of a entire "COUNTRY" there is something fundamentally wrong, and needs to be corrected.
 
What worries me is that the United States had this revelation one day that "Things are Economically Bad" out of the blue with little warning, several weeks later the other major countries of the world have the same exact revelation of financial problems with the same warning signs, markets crash, odd to say the least.

And the effects to everyone concerned ...... it's not here yet.

Cheers,
Fuzzy

[Quantum]

When any corporate CEO's make more money than the President or Prime Minister of a entire "COUNTRY" there is something fundamentally wrong, and needs to be corrected.

Cheers,
Fuzzy

It's not in the benefit of a country if the person running its motivation is money. Where as it is often useful for a company just looking for profits.

Executive positions in government are paid very little for their responsibilities on purpose..

[billyfridge]

I think it's down to having to house, and feed too many immigrants Quantum.


oooooops.......incoming!!..........







 

[xSyn]

What bothers me and my family the most is.. Even if we bail them out... Or.. Not.. They get to keep their jobs, but their the people that f--ked our country. I think they should be fired... I mean they are the reason that big companies are in such a disaster.

[fuzzytomcat]

When any corporate CEO's make more money than the President or Prime Minister of a entire "COUNTRY" there is something fundamentally wrong, and needs to be corrected.

Cheers,
Fuzzy

It's not in the benefit of a country if the person running its motivation is money. Where as it is often useful for a company just looking for profits.

Executive positions in government are paid very little for their responsibilities on purpose..

I hope you kinda get my meaning the "Executive" branch makes the policies that effect the company profit the CEO can possibly make, and the CEO has no bearing on nothing other than the money they can make.

What does these people do that effect the world that makes them worth so much ? I assumed the company workers making a product that the consumers want is what makes the company, not realy the CEO ?

1 Lawrence J Ellison              Oracle                       192.92  "MILLION DOLLARS" a year
2 Frederic M Poses                Trane                       127.10
3 Aubrey K McClendon          Chesapeake Energy     116.89
4 Angelo R Mozilo                 Countrywide Financial   102.84
5 Howard D Schultz              Starbucks                     98.60
6 Nabeel Gareeb                  MEMC Electronic Mats     79.56
7 Daniel P Amos                   Aflac                            75.16
8 Lloyd C Blankfein                Goldman Sachs Group    73.72
9 Richard D Fairbank             Capital One Financial       73.17
10 Bob R Simpson                XTO Energy                  72.27
11 Richard S Fuld Jr              Lehman Bros Holdings     71.90
12 Steven Roth                   Vornado Realty              71.85
13 Marijn E Dekkers              Thermo Fisher               69.00
14 Steven A Burd                 Safeway                      67.17
15 Gregg L Engles                 Dean Foods                 66.08
16 Nicholas D Chabraja           General Dynamics          60.26
17 Leslie H Wexner                Limited Brands             56.06
18 David C Novak                  Yum Brands                 54.91
19 John T Chambers              Cisco Systems              54.77
20 William R Berkley               WR Berkley                  54.60

The President of the United States is payed $460,000 (Thousand Dollars) a year ..................... I guess at this rate, you get what you pay for

Cheers,
Fuzzy
 

[texasboy]

  The very banks here in UK that are being funded by tax payers money.
Sir Fred Goodwin(50) cheif executive of Royal Bank of Scotland must be laughing all the way to the bank. Annual salary of £4 million which if my calculations are correct is £11,908.00 per day. Plus huge pensions and pay offs on retirement. Our present Labour government seems to be determined  to bale these fat cats out in the pretence that we need them to keep the economy stable. Boll*icks!! The banks are a business,just like any other company.  They have screwed us all for many years,and mis-management should not be rewarded.
Here are a few links for reading.

http://www.mirror.co.uk/news/top-stories/2008/10/13/credit-crunch-gordon-brown-in-blitz-on-fatcat-excess-as-banks-look-for-45bn-to-stay-afloat-115875-20798339/

http://www.independent.co.uk/news/business/news/revealed-how-gordon-brown-has-cost-you-163100000-443730.html
cheers

[Quantum]

The President of the United States is payed $460,000 (Thousand Dollars) a year ..................... I guess at this rate, you get what you pay for

Cheers,
Fuzzy
 

Do you honestly think that if a person running the country was payed $50 million a year we'd get better people? If the position were filled with people who were just in it for the money. Politics isn't like businesses, and it shouldn't be either.

Our present Labour government seems to be determined  to bale these fat cats out in the pretence that we need them to keep the economy stable. Boll*icks!! The banks are a business,just like any other company.  They have screwed us all for many years,and mis-management should not be rewarded.
Here are a few links for reading.

Well the banks spending isn't "fatcat spending", it's things like giving people a mortgage. So you can try and depersonalise the issues all you want and blame people who are earning a lot of money but it's a systemic failure across lending institutes that had been broadly backed by people and governments. Anyway government policy is to highly curb the excessive bonuses for bank bosses in the future.

[texasboy]

[

Our present Labour government seems to be determined  to bale these fat cats out in the pretence that we need them to keep the economy stable. Boll*icks!! The banks are a business,just like any other company.  They have screwed us all for many years,and mis-management should not be rewarded.
Here are a few links for reading.

Well the banks spending isn't "fatcat spending", it's things like giving people a mortgage. So you can try and depersonalise the issues all you want and blame people who are earning a lot of money but it's a systemic failure across lending institutes that had been broadly backed by people and governments. Anyway government policy is to highly curb the excessive bonuses for bank bosses in the future.

Quantum, I think that you are being very clinical in your observations and not looking at the big picture. The banks are out there to make any penny they can get their hands on. They make some good and some bad descisions on how they invest. As in the USA the banks forced loans on people that they knew had no hope in hell of ever repaying the money. ie. sub prime. A knock on effect on UK banks in the global market. But UK banks  were mostly sound and didnt need baling out. The people do not back lending institutions that dont know how to handle their business affairs . Its only this Labour government that continues to get its ass in trouble,and this started years ago with Blair and his kiss,kiss war (Bush) in Iraq and Afghanistan. We can watch banks pay their employees millions in bonuses while Labour spends a £million every week on these so called wars,and has no concern how the people in the UK struggle to survive. We should be one of the most prosperous nations in the world but alas we do not have anyone to manage the day to day running of iit. The government may be trying to curb fat cat bonuses but they will never suceed.  There is a breed of super rich folks that run this country because the government is afraid to step on their toes. (I`m on another PC at moment but will add BBC documentary  when I get the chance).
Will continue later.
cheers

[Quantum]

Quantum, I think that you are being very clinical in your observations and not looking at the big picture. The banks are out there to make any penny they can get their hands on.

Yes and our pensions and savings depend on this.

They make some good and some bad descisions on how they invest. As in the USA the banks forced loans on people that they knew had no hope in hell of ever repaying the money. ie. sub prime

Forced loans on people? Get serious, the majority of sub-primes are at least partly to blame for people not thinking about how they'll ever pay it back and just wanting a house to own.

Its only this Labour government that continues to get its ass in trouble,and this started years ago with Blair and his kiss,kiss war (Bush) in Iraq and Afghanistan. We can watch banks pay their employees millions in bonuses while Labour spends a £million every week on these so called wars,and has no concern how the people in the UK struggle to survive.

Your link is somewhat dubious here, wars tend to help economies like ours more than they hurt them.

We should be one of the most prosperous nations in the world but alas we do not have anyone to manage the day to day running of iit. The government may be trying to curb fat cat bonuses but they will never suceed.  There is a breed of super rich folks that run this country because the government is afraid to step on their toes.

We are one of the most prosperous nations in the world, we have about the 5th/6th highest GDP which is insane for the number of people we have and out limited resources. Like it or not we've done this by having a very financial based economy. Richer people tend to vote more than poorer people, so governments tend to listen to them. But at the moment there is certainly a strong feeling from the middle class and middle class vote in large numbers and there's a lot of them, so this is the strongest force for the government to act on things, so they are and will continue to.

You can't stop businesses rewarding for people getting to the top, it's the was business works and interfering with that too much mucks up economies. Government should regulate and step to stop large problems, not broadly interfere as we can see from history that never ends well. So I do like the idea of tying bonuses in to the banks stocks to encourage sound long term investment.

[billyfridge]

'Fat cat's' are human nature, if you manage to climb to the top, you reward yourself, and why not. Communism tried to make everybody equal, doesn't work, it's against human nature. I don't see anybody complaining about footballers exorbitant wages, if anybody is overpaid it's them. (except Man U players of course) .
OK Northern Rock went down! the government stepped in to help, then all of a sudden, four or five other banks were having difficulties, how convenient!! seems to me they were jumping on the band wagon, or gravy train.

[Quantum]

'Fat cat's' are human nature, if you manage to climb to the top, you reward yourself, and why not. Communism tried to make everybody equal, doesn't work, it's against human nature. I don't see anybody complaining about footballers exorbitant wages, if anybody is overpaid it's them. (except Man U players of course) .
OK Northern Rock went down! the government stepped in to help, then all of a sudden, four or five other banks were having difficulties, how convenient!! seems to me they were jumping on the band wagon, or gravy train.

Yes, I'm sure facing the possibility of bankruptcy to get a little bit of money out of the government with the cost of your stocks taking a nose dive, your baking leaders being booted, your bonuses being removed and the government taking a certain amount of control over you decisions from then on was on purpose 

[billyfridge]

'Fat cat's' are human nature, if you manage to climb to the top, you reward yourself, and why not. Communism tried to make everybody equal, doesn't work, it's against human nature. I don't see anybody complaining about footballers exorbitant wages, if anybody is overpaid it's them. (except Man U players of course) .
OK Northern Rock went down! the government stepped in to help, then all of a sudden, four or five other banks were having difficulties, how convenient!! seems to me they were jumping on the band wagon, or gravy train.

Yes, I'm sure facing the possibility of bankruptcy to get a little bit of money out of the government with the cost of your stocks taking a nose dive, your baking leaders being booted, your bonuses being removed and the government taking a certain amount of control over you decisions from then on was on purpose 

What ALL of them at the same time!!!!!!.....stinks to me....they will make money out of it eventually, that is their forte