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Dangerous Woman

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Everything posted by Dangerous Woman

  1. This whole discussion may be moot if John Prescot has his facts right. Here is a copy of his open letter to the Group Chief Executive of RBS, Stephen Hester. Dear Stephen, So now we know that RBS is sorry! Well, that’s a start at least. But it’s quite clear from the 12,000 people who’ve signed our petition so far, that this is not enough. I urge you to take a few minutes and go to our online petition at www.giveupthebonus.co.uk and look at the signatures and the comments people have left behind. These are just a few examples of their thoughts: “I feel you will be committing fraud if you use MY money to reward yourself for causing your business to fail. NO BONUS FOR BANKERS.” “It is about time these greedy bankers were seriously brought to task for wrecking the economy. They should be falling on there swords not getting bonuses.” “The greedy, irresponsible behaviour of RBS employees in the past has directly resulted in the British economy falling to its knees. And now after receiving £20billion of taxpayer’s money, RBS wants to give £1billion to its staff whilst we as shareholders look on. Well not this time!” And those are the polite messages! These are people who are struggling to get through this recession and angry that they can’t get credit or loans from the banks. They’re pensioners furious that someone can be rewarded for failure with public money and some are even RBS shareholders who will rebel if you hand out that bonus. But the fact is Stephen we are ALL shareholders now. We saved RBS and now own 68% of the bank. So even to consider handing out £1billion of OUR money after you posted a loss of £28billion is both morally and economically outrageous. I see you’re up in front of the Treasury Select Committee. So before you speak, let me tell you what else people have been telling me on the street and on the internet. There is no way that the public will allow you to hand out those bonuses. They don’t buy the excuse of contractual obligations. Why? Because some of your former staff have been sending me messages on Facebook saying this just isn’t the case. One said: “John, I worked for RBS up until the end of last year and my contract always said that bonuses were discretionary even if I exceeded my targets.” So think long and hard about what you say in front of the select committee. Take the opportunity to listen to your account holders, shareholders and everyone in this country. No ifs, no buts, Stephen– RBS should give up the bonus. If you want to chat, you can find me on Facebook. JP
  2. I expect he is the only one who will end up being prosecuted. Free the HBOS one!
  3. Here's another link along those lines. NSFW http://rathergood.com/hedgehogs
  4. They took Lester Piggot's away when he was done for tax evasion, but not Jeffry Archer's or Conrad Black's. Curious, hmm?
  5. They stated that, in this situation, the employer's decision to award a nil bonus to an employee who had earned profits for the Company of over £6million in nine months and was responsible for a transaction that would probably bring to the Company a further £16million in the near future......profits which have yet to materialise? You are Grant Bovey and I claim my five pounds.
  6. I am going to vote Lib Dem next election for the first time. Normally where I live you could a blue rosette on a donkey and it would win. Lately, however I detect a sea-change; anything seems a better alternative than this thieving bunch of to**ers currently in charge or the horrible Lord Snooty and his chums. If Ken Clark was leader I might rethink.
  7. Are they making sea from the polar icecaps? I think there is a conspiracy.
  8. In 1990 I bought a house in the Home Counties with 25% off the asking price from a woman who had moved up North where houses were much cheaper; she was also on a bridging loan. We never went into negative equity. My sister bought at the same time in the West Country. Within a year the house next door (identical in every way) sold for exactly 50% of what she had paid. As before, this crash is going to be about luck and location, and vary quite wildly.
  9. I suggest you wrap up all the debt you have on you TV, fridge, cooker, kettle etc., call it a winky wonky woo (or WWW), sell it to someone else by getting your Dad to tell them it's a great investment and pay yourself one million dollars. You could use this money to raise a loan and buy youself a superyacht for $100 million. Yhe downside of having one of these is that Mandleson and Osborne will keep trying to come aboard. Most sailing guides advise keeping a gun on board for just such an emergency.
  10. We thought of doing the Albania-Italy run. You can charge 20,000 Euros per person and if approached by the Guardia Costiera you simply chuck them overboard as they have to stop to pick up the drowning people and you can run away!
  11. Equity! In a boat! Idiot! Boats, like cars are not "investments". Sailing is standing under a cold shower tearing up £20 notes.
  12. On a similar note: ENRON VENTURE CAPITALISM You have two cows. You sell three of them to your publicly listed company, using letters of credit opened by your brother-in-law at the bank, then execute a debt/equity swap with an associated general offer so that you get all four cows back, with a tax exemption for five cows. The milk rights of the six cows are transferred via an intermediary to a Cayman Island Company secretly owned by the majority shareholder who sells the rights to all seven cows back to your listed company. The annual report says the company owns eight cows, with an option on one more. You sell one cow to buy a new president of the United States, leaving you with nine cows. No balance sheet provided with the release. The public then buys your bull.
  13. You are allowed up to about £4000 a year tax free if you rent a room, but you must, must, must declare it on your tax return Curses! Beaten by a minute!
  14. In Chester, its legal to shoot a Welsh person with a bow and arrow inside city walls after midnight. In Hereford, you may not shoot a Welsh person on Sunday with a longbow in the Cathedral Close. Off you go!
  15. None taken - my point is they deliberately obfuscated things so that even their own bosses didn't understand what they were doing. Had they called the products "unemployed black man in a string vest sitting on a porch loans" the penny might have dropped sooner.
  16. Also a 20% fee on some of these huge transaction would be unacceptable in any other sector, but the investors tolerate it while the see the big money coming in.
  17. Ok, I give up. What do these geniuses call property. Debt/equity tier one AAAA capitalised swap shop?
  18. Is this going to cover the costs? I wouldn't have much confidence in the build quality; I am constantly catching contractors trying to cut corners, for instance (actual case) omitting insulation in an effort to save money. Maybe you should watch Towering Inferno to see where this can lead with highrise?
  19. This same much talked about exceptional skillset can be found propping up the counter at my local Ladbrokes. PS Anyone think that Barclays have just produced a set of Enron-stylee figures? I wonder what they are valuing their pwoperdee portfolio at?
  20. Commercial has been bad for a long time. The same proprties round here have been empty since 2001, all asking very high rents. Also the Local Authority consistently refuses change of use for old warehouses etc while approving loads of new commercial which then stands empty. But of course all these investors are highly intelligent people who deserve massive salaries/bonuses. Maybe this kind of thinking would explain why my pension is worth less than I have paid in to it.
  21. Having read this from his obit I can only agree; if only he had suceeded things might be very different today. "After the Scottish referendum result in 1997, he proposed a fighting fund be set up to mount a legal action to remove all Scottish MPs from Westminster, though he later returned sums of money sent directly to him by supportive readers of The Daily Telegraph."
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