Monday, Sep 21, 2009
Do Try Not To Get Angry Whilst Watching This!!!
PANORAMA: Banks Behaving Badly?
Just watch it.....
Posted by titaniccaptain @ 11:54 PM (1167 views) Add Comment
8 Comments
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1. enuii said...
Watch Mandelsons face and eyes, they say everything you need to know!
2. watching with amusement said...
To be honest, Sweeney's question was a rather easy, sensationalist target. Even if the government whole heartedly believed in capping bonuses, how would such a scheme not be circumvented by, for instance, increasing basic salaries. I am fairly sure that the bankers would find ways of circumventing such a cap quicker than new legislation could be introduced.
I'm not saying that I'm happy with the bankers' bonus culture, or the fact that bonuses are back, I just think this line of questioning was rather puerile.
3. europeanbear said...
The solution to banks is to btreak them up. Put a limit on thier size (i.e. about 1/20 the size of lloyds/HBOS, Barc;ayus etc etc). Then we would have 40 or 50 banks, limited in theior size and hence NONE too big to fail. Then let them do what they want with no bail outs. If some fail due to bad management, they fail and so do their bonuses and as indivdually they are small then any failing bank does not hold a pistol at the head of the economy, government, tax payer etc ... its easy really
4. who stole my pension? said...
The government should split the banks in to two separate parts i.e. split the retail arm from the investment arm. The retail arm cannot be allowed to fail and thus will need to be regulated; either in size or by ensuring that it has enough capital to prevent a bank run e.g. 10% as opposed to less than 2% that was the norm at the time of Northern Rock. The investment arm can, and must, be allowed to fail! It is the investment arm of the banks that has behaved like a casino - although even this is being to kind to the investment managers as most casinos are properly run and thus make a profit!
5. matt_the_hat said...
3. europeanbear - easier than that - remove the deposit insurance and let the markets do the rest
6. icarus said...
@ europeanbear on the advantages of smaller banks - a recent study found that regional savings banks in Germany make a big contribution to financial stability by limiting capital mobility and by having long-term relationships with, and responsibilty for, their customers. The European Commission has criticised such banks in the past for being purely regional, thereby limiting financial integration within the internal market and concentrating risk at a regional level rather than diluting it by operating at a European or global level. The events of the past two years, where the original shock has been amplified at a global level, is causing a re-think of the EC's position on this issue. The study concluded that factors which aren't included in the calculations of big banks and rating agencies - such as regional focus and regional responsibility - contribute to financial stability despite the theoretically risky (because relatively undiversified) regional loan portfolios.
Much economic development thinking is at a micro or regional level (hence regional development agencies in most countries). If banking were there to support the real economy it would make sense for it too to be organised regionally.
7. Mym said...
Panorama is rather dumbed down.
8. greenshootsandleaves said...
I'd like to thank the producer for those helpful vignettes showing masked city gents/raiders making off with bags marked 'swag'. I'm not sure I'd have understood the programme otherwise. Definitely a boon for those of us more accustomed to reading the financial pages of the Beano.
If you've ever wondered what had happened to the people who use to make the film clips for Top Of The Pops, there's your answer!