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Realistbear

Bankster Bonuses Rise 25% --We Are All In It Together

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http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/7932157/City-bonuses-jump-25pc-to-10bn.html

City bonuses jumped by 25pc to £10bn in the latest pay round despite Government efforts to rein back bankers' pay in the aftermath of the financial crisis.
By Jonathan "Jon" Sibun and Harry Wilson
Published: 9:52PM BST 07 Aug 2010
Financial sector bonuses paid out to the lucky few in the five-month period between December and April for the previous financial year reached £10bn, compared with £8bn in 2008, according to figures from the Office for National Statistics (ONS).

Did anyone really think these people would stop skimming because the majority of people think it is wrong to help yourself to vast sums of taxpayer's money? We live in a cat eat cat world and those that can will.

All in it together? A political catch-phrase that will become the most infamous in history.

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Thats £10bn that could A: add to the profits and therefore the tax take.

B: repay some taxpayer help back.

course, £10bn, is just a small percentage of the "Profits" these guys have made for their firms....I guess, if its 2%, there is £500bn in profits....not heard of that amount...3bn here, 5 bn there......

If they have "made" 500bn, then why are we in hock to them AT ALL????

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Don't worry about it, just keep licking up the government mantra.

Inflation at "2%", Bonus growth 25%PA perhaps year on year? That's hockey stick/hyperinflation territory.

But we must pay them these bonuses or they will go elsewere! Have mercy we can't live without bankers. Think of the children!

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But we must pay them these bonuses or they will go elsewere! Have mercy we can't live without bankers. Think of the children!

I wish they would go elsewhere then maybe could start building an economy on something other than sand.

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I wish they would go elsewhere then maybe could start building an economy on something other than sand.

And in many of the elsewheres they'd have been lined up an shot for their fraud.  Brown was and Cameron is weak - this would not have happen in China, the last transaction made by the bankers there would have been for a bullet with their name on.

China would do it the official way, I am assuming that in the US this could be happening in a non state sanctioned way with rednecks (assuming they can spell)   carving the Goldman Sachs alumni list into lead slugs.

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Its really a waste of time moaning and posting about it. Nothing is going to change. I dare say Vince Cable and the Government will grumble about it, but they won't do anything. It just bread and circuses. Its more (ineffectual) government for the bankers, run by the bankers. Nothing has changed. Did you really think it would?

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Its really a waste of time moaning and posting about it. Nothing is going to change. I dare say Vince Cable and the Government will grumble about it, but they won't do anything. It just bread and circuses. Its more (ineffectual) government for the bankers, run by the bankers. Nothing has changed. Did you really think it would?

saying nothing is what they need.

daylight and comment will move the world.

They may have won the battle, but they will not win the war.

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saying nothing is what they need.

daylight and comment will move the world.

They may have won the battle, but they will not win the war.

Well they are winning the war. Actions speak louder than words. Unless people are prepared to switch off their crappy iPods and X Factor for more than a few minutes, and wake up and start smelling some coffee, then there isn't much hope. What is wanted is a campaign of mass civil disobedience, until this looting by the so called "City" is stopped.Follow the money. Who finances the politicians? Looks who's just made a generous donation to one of the Millibands. And you think anything will change?

Edited by Sir John Steed

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During some protests in london in 08/09 i remember hearing tales of bankers in the windows waving wads of cash and mocking people, could be a load of ******** but everytime i read an article like this that's what i see.

Edited by fatsam

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Well they are winning the war. Actions speak louder than words. Unless people are prepared to switch off their crappy iPods and X Factor for more than a few minutes, and wake up and start smelling some coffee, then there isn't much hope. What is wanted is a campaign of mass civil disobedience, until this looting by the so called "City" is stopped.Follow the money. Who finances the politicians? Looks who's just made a generous donation to one of the Millibands. And you think anything will change?

it may seem that way, but they are destroying themselves.

drip by drip.

giving up and not commenting where you can will hand them every battle. As I say, there SHOULD be profits, in cash, to pay these, IF they really have them...not cash they get from the merrygoround of cash flows....real cash they can afford to lose and clients dont suffer..

the whole credit crunch "Illiquidity problem" was just such an issue....they couldnt borrow to "finance" their commitments...yet bonuses were always paid.

I dont have a problem with bonus...ie commission per se....but some of these guys!....it just makes one sick.

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It's not the bankers that are the problem it's the government giving them our money. It's high time all the talk was stopped and the ConDems took some action. Are they going to split them into Retail and Investment or what? Or is this just another proposal that gets implemented when hell freezes over?

Edited by MrFlibble

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it may seem that way, but they are destroying themselves.

drip by drip.

giving up and not commenting where you can will hand them every battle. As I say, there SHOULD be profits, in cash, to pay these, IF they really have them...not cash they get from the merrygoround of cash flows....real cash they can afford to lose and clients dont suffer..

the whole credit crunch "Illiquidity problem" was just such an issue....they couldnt borrow to "finance" their commitments...yet bonuses were always paid.

I dont have a problem with bonus...ie commission per se....but some of these guys!....it just makes one sick.

Yes I suppose they are, but taking us down with them. As the UK economy gets flushed down the plughole, an increasing percentage finds its way into the banksta's offshore accounts. Its the tapeworm economy. Robber baron, feudal capitalism at its worst. Pop over to the "Northampton" thread. NCC workers are getting huge pay reviews, DOWNWARDS. Not rich people or the fat cats by any standards, but nursery school teachers on £16k per year getting £4-5k wage cuts (oh I dare say the council fat cats will be fully protected!) Yet the bankers loot themselves a few extra billion from the "free" money provided by Merv and co. Where is the real growth to justify these earnings? It can't all be automating trading, scimming pence by rigging the stock market. What is up with people? WAKE UP!

Edited by Sir John Steed

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Inflation at "2%", Bonus growth 25%PA perhaps year on year? That's hockey stick/hyperinflation territory.

Unless there are 25% more bankers getting 0% extra bonus.

Having global bankers earning globally and spending in London is better than having them earning globally and spending in Frankfurt.

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Its really a waste of time moaning and posting about it. Nothing is going to change. I dare say Vince Cable and the Government will grumble about it, but they won't do anything. It just bread and circuses. Its more (ineffectual) government for the bankers, run by the bankers. Nothing has changed. Did you really think it would?

Don't confuse global banks working out of London with domestic UK banks.

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Well they are winning the war. Actions speak louder than words. Unless people are prepared to switch off their crappy iPods and X Factor for more than a few minutes, and wake up and start smelling some coffee, then there isn't much hope. What is wanted is a campaign of mass civil disobedience, until this looting by the so called "City" is stopped.Follow the money. Who finances the politicians? Looks who's just made a generous donation to one of the Millibands. And you think anything will change?

Politicians have a deal with banks. The banks take the money and the blame and the politicians take the popularity. The reality is that it is our money the politicians swapped for the popularity.

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Thats £10bn that could A: add to the profits and therefore the tax take.

B: repay some taxpayer help back.

course, £10bn, is just a small percentage of the "Profits" these guys have made for their firms....I guess, if its 2%, there is £500bn in profits....not heard of that amount...3bn here, 5 bn there......

If they have "made" 500bn, then why are we in hock to them AT ALL????

Because this side of a banking licence, almost all of what we are compelled to use as money is in fact the bankers' rent-a-currency funny money, lent to us at interest.

http://www.bankofenglandact.co.uk/

We are in dire need of our own debt-free, publicly and adequately issued means of exchange.

Isn't it obvious?

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Because this side of a banking licence, almost all of what we are compelled to use as money is in fact the bankers' rent-a-currency funny money, lent to us at interest.

http://www.bankofenglandact.co.uk/

We are in dire need of our own debt-free, publicly and adequately issued means of exchange.

Isn't it obvious?

ALL paper currency implies a debt - it's a promise that someone, somewhere will pay. Cash is just promissory notes from the government. Of course, the government can force people to work in return for them as they mandate fiat currency use for tax, fines, permits etc. so at least you have some sort of guarantee that it is worth something.

But for sure we need to stop our dependency on the issue of bank credit as our primary 'money supply'. Every penny of profit that the banksters make represents wealth taken out of the productive economy (and of course, even when they make losses they are dumped on the taxpayer directly, as recent events show).

Given that:

a. The public are thick as a brick when it comes to money matters, in fact they're totally apathetic about anything vaguely important anyway and

b. The bankers OWN the politicians

... I don't see this sort of change happening any time soon.

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Well they are winning the war. Actions speak louder than words. Unless people are prepared to switch off their crappy iPods and X Factor for more than a few minutes, and wake up and start smelling some coffee, then there isn't much hope. What is wanted is a campaign of mass civil disobedience, until this looting by the so called "City" is stopped.Follow the money. Who finances the politicians? Looks who's just made a generous donation to one of the Millibands. And you think anything will change?

I think they are winning the battle, the war is happening, has been since 07 but is longer term, it doesnt really bother me one way or the other, as Bloo says, the recognised names are killing themselves although many underneath will ultimately come out rather well,

People will smell the coffee once its in front of their nose, the credit is moreless completey removed and poverty takes us back to at least the 70s, not before, i am entirely confident the economies of western Europe and Asia too probably are in the process of financial collapse to some large degree and as such the banks are unsaveable.

In the mean time i dont think its worth worrying about who has what or who is looting what which will be sorted in the endgame, forget about it and position yourself and your own in the best place to be least affected (debt free and savings rich). Ultimately this bounce is a positive, it gives more time before the SHTF, most including on here will be wishing for 07 again once the social fragmentation begins/is full on, i dont think its something to look forward to. personally i think the clock has less than 3 years to run now until everything is completely fcked but i hope its longer, alot longer

Edited by Tamara De Lempicka

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ALL paper currency implies a debt - it's a promise that someone, somewhere will pay. Cash is just promissory notes from the government. Of course, the government can force people to work in return for them as they mandate fiat currency use for tax, fines, permits etc. so at least you have some sort of guarantee that it is worth something.

There is a formal, mathematical and important distinction between (non-commodity) money that is issued debt-free and that which is issued in tandem with initially equal and opposite debt.

The former circulates persistently, the latter is transitory and disappears from circulation when debt is repaid.

The former is essentially cost-free to its user base, the latter is not.

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I wish they would go elsewhere then maybe could start building an economy on something other than sand.

The City leverage 'borrowing' merry-go-round - profits/bonuses based on "borrowing" NOT 'producing' anything except higher bonuses!

The scamming thugs.

"Risk illusion, rather than a productivity miracle, appears to have driven high returns to finance. The recent history of banking appears to be as much mirage as miracle." The mirage is clearly evident when return on equity is measured against return on assets. Think of a £100,000 house bought with a £10,000 deposit. If prices rise 10pc, the house is worth £110,000. As the mortgage remains £90,000, the homeowner's return on equity is 100pc. However, the return on assets is just 10pc – the growth in value of the home.

As Mr Haldane puts it: "Virtually all of the increase in the return on equity of the major UK banks during this century appears to have been the result of higher leverage. Banks' return on assets – a more precise measure of their productivity – was flat or even falling over this period."

In other words, bankers were not being smart, just borrowing more. And reward structures encouraged them to do so. Little surprise, then, that "those banks with highest leverage are also the ones which have subsequently reported the largest writedowns", Andy Haldane, the Bank of England's executive director of financial stability notes.

Telegraph

Now you should be able to suss out why banks are not lending - they need the cash in hand (to conjure more leverage) since the crash, to lend between themselves, to continue the merry-go-round scam!

Edited by erranta

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Lynching key bankers is an absolute necessity now. Pour encourager les autres.

There's more chance of this happening in the USA than here. The masses are armed, and tensions between the states and Federal Government are rising

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Lynching key bankers is an absolute necessity now. Pour encourager les autres.

May I just point out that since tax rates have gone from 40% to 50% a 25% increase in each £100,000 bonus leaves the banker with 62,500 instead of 60,000. A less-than-inflation 4.2% increase.

Not only are the bankers effectively taking a paycut, but they're also paying more towards the handouts you socialists love so much.

So please just add your apologies below and show a bit of gratitude for once.

Tharg.

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May I just point out that since tax rates have gone from 40% to 50% a 25% increase in each £100,000 bonus leaves the banker with 62,500 instead of 60,000. A less-than-inflation 4.2% increase.

Not only are the bankers effectively taking a paycut, but they're also paying more towards the handouts you socialists love so much.

So please just add your apologies below and show a bit of gratitude for once.

Tharg.

The whole of their industry was bankrupt and saved by state handouts. No different to the unemployed!! Thse profits are rjust a result of low interest nothing to do with the commercial skils of bankers

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May I just point out that since tax rates have gone from 40% to 50% a 25% increase in each £100,000 bonus leaves the banker with 62,500 instead of 60,000. A less-than-inflation 4.2% increase.

Not only are the bankers effectively taking a paycut, but they're also paying more towards the handouts you socialists love so much.

So please just add your apologies below and show a bit of gratitude for once.

Tharg.

I'm no socialist. The banksters clearly are - the biggest welfare queens on the planet. TBTF status is the ultimate antithesis of the free market. If they think they're free market wealth creators, they are incurably deluded to boot. And those bonuses you think are so beneficial to society - they're for record net lending margins, derivatives scams, fraudulent asset and off balance sheet valuation and trading abuses like front-running and HFT. Not just socially useless, but actively harmful to the rest of us

Off with their greedy piggie heads!!!

Edited by mdman

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  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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