Banks Are The Backbone Of The Economy!

[babesagainstmachines]

I'm not Satan

They really need knocking down a couple of pegs. They are a support service. They need to relearn it.

[lowrentyieldmakessense(honest!)]

I'm not Satan

They really need knocking down a couple of pegs. They are a support service. They need to relearn it.

debt pushing is a dying trade - as the addict cant handle any more

it wasnt always this way

[fluffy666]

I'm not Satan

They really need knocking down a couple of pegs. They are a support service. They need to relearn it.

OK, I'm an atheist, so can any resident Christians work out this one:

“The injunction of Jesus to love others as ourselves is an endorsement of self-interest,”

[izzy]

OK, I'm an atheist, so can any resident Christians work out this one:

“The injunction of Jesus to love others as ourselves is an endorsement of self-interest,”

This is my in depth analysis of his statement: it is total waffle.

If he truly believes that the best way to love others as ourselves is to make vast profits as the expense of the poor, to accept bailout money taken from the poor and to hord and enjoy great luxury when seeing suffering all around then he is a very confused individual.

This seems like George Bush style Christianity. Using the name of Jesus to justify the unjustifiable. Personally, I would say his statement was profoundly blasephemous and deeply offensive to Christians.

I wonder if he might like to remember that the act that finally led Jesus to crucifixtion was the turning over the tables in the temple, an overt protest against the use of the church for personal gain.

Ahhhh, at least we Christians have the hope of the final judgement. Let's just say there will be some very interesting confessions on that day.

[newbonic]

...

This seems like George Bush style Christianity. Using the name of Jesus to justify the unjustifiable. Personally, I would say his statement was profoundly blasephemous and deeply offensive to Christians.

...

It's offensive to atheists mate! The tactic of an immoral man using any means to justify the unjustifiable.

[Realistbear]

OK, I'm an atheist, so can any resident Christians work out this one:

The injunction of Jesus to love others as ourselves is an endorsement of self-interest,

The kind of love Jesus was speaking about was sacrificial love--the idea of putting other's interests ahead of your own. Self-interest was possibly the most destructive of all behaviour according to Jesus' teaching. Worship of wealth and money was at the root of all evil in his view and he suggested to one millionaire contemporay that it would be better to sell what he had and give it to the poor.

Strange that the banksters, being the ones who had Jesus excecuted for disturbing the Jerusalem FOREX tables set up in the Temple, are invoking the name of the one their ancestors had killed. Seems that the prodigy of those same banksters are still at it today--robbing the people to trouser the loot.

Edited November 4, 2009 by Realistbear

[thod]

The old and tired, "We need huge bonuses to retain talent" argument. If these bankers are so talented, why are they working for an employer and not starting their own bank so that they could retain all the profits? The answer is simple, they could not cut it in a competitive market. To operate at all they need access to the billions and trillions held by the big banks. They make money by pushing money around creating bubbles and collapsing them, they cannot do this outside. Thus there is no place for these 'talented' individuals to go but another similarly sized bank.

The question that should be asked is how the banks are able to generate the profits to pay these huge sums. The amount of profit before salary deduction has to be enormous. This suggests a malfunctioning of capitalism which says that profits will be driven down by competition. The only way to generate such profit is via a captive market.

[Injin]

The old and tired, "We need huge bonuses to retain talent" argument. If these bankers are so talented, why are they working for an employer and not starting their own bank so that they could retain all the profits? The answer is simple, they could not cut it in a competitive market. To operate at all they need access to the billions and trillions held by the big banks. They make money by pushing money around creating bubbles and collapsing them, they cannot do this outside. Thus there is no place for these 'talented' individuals to go but another similarly sized bank.

The question that should be asked is how the banks are able to generate the profits to pay these huge sums. The amount of profit before salary deduction has to be enormous. This suggests a malfunctioning of capitalism which says that profits will be driven down by competition. The only way to generate such profit is via a captive market.

The amount of money required to retain talent is a few quid more than their next highest wage.

So, unless most of the banking industry can reasonably expect to join La Liga or the NFL they are overpaid.

[scepticus]

Banks are not the backbone .

The correct analogy IMO is:

- the banks are the circulatory system

- the roads, industry and things like broadband infrastructure are the muscle that moves things

- the skeletal structure is the law and markets upon which defines musclar structure

Then in injinworld we have an amorphous anerobic blob with the metabolism of a lizard in a fridge.

Edited November 4, 2009 by scepticus

[Dorkins]

I think the banks are more like the brainslug of the economy, they attach themselves to the decision-making part and force the whole body to serve their selfish interests.