Barclays Profits Crash 76% As Bonuses More Than Double

[Realistbear]

http://www.bloomberg.com/news/2010-11-09/barclays-third-quarter-profit-declines-76-as-investment-bank-reports-loss.html

Barclays Plc, Britain’s third-largest bank, said its capital ratio remained “strong” as

quarterly profit fell 76 percent

on lower revenue at the investment banking unit.

http://www.telegraph.co.uk/finance/newsbysector/epic/barc/8119052/Barclays-bonuses-rise-to-2.2bn-despite-challenging-markets.html

Barclays bonuses rise to £2.2bn despite 'challenging markets'

Bonuses at Barclays have reached just over £2.2bn so far this year as the lender has set aside more than £1bn in cash to pay its staff despite what it said were "challenging markets".

http://www.bloomberg.com/news/2010-11-08/british-banks-warn-of-asian-exodus-as-cable-urges-moderation-over-bonuses.html

BanksTERS Warn of Asian Exodus as Cable Urges Bonus Moderation

These Banksters are nothing but cheeky monkeys in my view.

Edited November 9, 2010 by Realistbear

[MrFlibble]

These Banksters are nothing but cheeky monkeys in my view.

That was rather polite of you RB

[The Masked Tulip]

Where are they going to go in Asia? China? Hong Kong? Where exactly? About time their bluff was called IMPO.

[Bloo Loo]

hmm. the stock market levels,and they make frack all.

geniuses.

[billybong]

'challenging markets'

= not being doled out enough free money.

Edited November 9, 2010 by billybong

[Sour Mash]

Nothing could more strongly illustrate that the name of the game is now looting as much wealth as possible before the system goes belly up.

Government prints money - banks get first access to it - banksters transfer as much of it into their own pockets as they can get away with.

Meanwhile, the general public is shafted with inflation and savers and retirees are ripped off.

[aa3]

Its a good example of how the corporate governance model is breaking down. Who do these people work for.. it seems they work for themselves. Instead of working for the shareholders.

Its almost a transition to employee owned corporations.

[okaycuckoo]

Its a good example of how the corporate governance model is breaking down. Who do these people work for.. it seems they work for themselves. Instead of working for the shareholders.

Its almost a transition to employee owned corporations.

It is the Third Way. Mussolini style.

[headrow]

Its a good example of how the corporate governance model is breaking down. Who do these people work for.. it seems they work for themselves. Instead of working for the shareholders.

Its almost a transition to employee owned corporations.

What more do shareholders want? They are getting 1p a share every quarter.

[Jetset78]

As Barclays didn't take a bailout then they can pay whatever bonuses they want in my book - that's for their shareholders to deal with and nothing to do with anyone else

In the same vein - if their profits drop 76% that's also their problem, I guess they shouldn't have paid such high bonuses but again nothing to do with me - it's their business

Either way - I couldn't care less

[Realistbear]

It seems that the Trillions that have been "lost" in the last few years since the beginning of the structural cllapse concerns money that does not exist. "Creative" financing cannot be traced back to anything that resembles actual money and fractional reserve limits have long since gone out of the window. Its all a massive PONZI that is kept going to allow the Banksters to feed off that what doesn;t exist and turn it into hard assets that do exist such as houses, bonds, shares, commodoties of all sorts including paladium.

We are at the end of a 300 year cycle begun in the 18th Century when they had to introduce fractional reserve banking after the South Sea bubble collapsed. We are at the beginning of another South Sea Bubble type of collapse and it will end in massive deflation which not even a few metals will be able to protect against because the basics of life (food, clothing and shelter) will require some form of exchange value and there is not enough metal to replace the current system of trade. But eat and drink people will so no allusions that you will only be able to buy by paying with paladium etc. The millions of tons of gold that have been sold to the gullible who think they have bought physical will trigger a tulip-style sale that will rock even the metals market as everything will collapse together--something Buffett alluded to 3 years ago when he predicted that the bubbles will all go pop.

When the froth gets taken away and margin calls flood in they will dioscover the PONZI and prices for everything will collapse. Everything.

[Bloo Loo]

As Barclays didn't take a bailout then they can pay whatever bonuses they want in my book - that's for their shareholders to deal with and nothing to do with anyone else

In the same vein - if their profits drop 76% that's also their problem, I guess they shouldn't have paid such high bonuses but again nothing to do with me - it's their business

Either way - I couldn't care less

course they got a bailout...they got the luxury of their loans to other banks, paid in full.

[indirectapproach]

And Barclays shares close up 7% today,

http://uk.finance.yahoo.com/q?s=BARC.L

Anyone got anything sensible to say about that?

[Realistbear]

And Barclays shares close up 7% today,

http://uk.finance.yahoo.com/q?s=BARC.L

Anyone got anything sensible to say about that?

Their profits were only down 76% and it could have been worse, 86% for example.

Bad is good and good is bad these days.

[theonlywayisdown]

As Barclays didn't take a bailout then they can pay whatever bonuses they want in my book - that's for their shareholders to deal with and nothing to do with anyone else

In the same vein - if their profits drop 76% that's also their problem, I guess they shouldn't have paid such high bonuses but again nothing to do with me - it's their business

Either way - I couldn't care less

you're kidding right?

Just because one bank doesn't get a bailout package, it doesn't mean it hasn't benefited from other banks receiving bailouts. Not just that, but also the reduction in interest rates has boosted their profits.

[richc]

As Barclays didn't take a bailout then they can pay whatever bonuses they want in my book - that's for their shareholders to deal with and nothing to do with anyone else

In the same vein - if their profits drop 76% that's also their problem, I guess they shouldn't have paid such high bonuses but again nothing to do with me - it's their business

Either way - I couldn't care less

Not to get personal, but Jesus F. Christ, how stupid and naive can you be? Barclays most certainly has been bailed out, through bailouts of other banks to maintain asset prices (and Barclays balance sheet) and lower interest rates at the expense of higher inflation. And do you honestly believe that Barclays wouldn't be bailed out if they ran into difficulties on the back of stupid deals done by bankers knowing that they'll get their bonus whether the bank is driven into bankruptcy or not? The banks love the attitude of people like you and have been milking it for all its worth.

[aa3]

What more do shareholders want? They are getting 1p a share every quarter.

Shareholders get to ride at the back of the bus, and have to give up their seat if a manager of the company gets on board.

Having said that, mutual funds and pension funds are eagerly investing in these companies.

[getknk]

Bonuses are required, but the high level of bonus is the culprit..

especially if you are making loss why u are giving millions in bonus !!?

[Jetset78]

Not to get personal, but Jesus F. Christ, how stupid and naive can you be?

I dont think I am

Barclays most certainly has been bailed out, through bailouts of other banks to maintain asset prices (and Barclays balance sheet) and lower interest rates at the expense of higher inflation.

So because other banks needed to be bailed out and Barclays didnt then Barclays are equally liable even though they didnt need to be bailed out? That's your logic? I see you also blame them for low interest rates and high inflation too - hmmm interesting

And do you honestly believe that Barclays wouldn't be bailed out if they ran into difficulties on the back of stupid deals done by bankers knowing that they'll get their bonus whether the bank is driven into bankruptcy or not?

But they didnt need to be bailed out - that's the point. If they need to be bailed out in the future (not an impossibility) then my position will change accordingly.

The banks love the attitude of people like you and have been milking it for all its worth.

Not wanting to get personal either, I imagine you are currently unemployed, voted Liebour and is now looking for someone to blame.

[erranta]

Where are they going to go in Asia? China? Hong Kong? Where exactly? About time their bluff was called IMPO.

They should confiscate their passports, posessions and strip them of their Blitish citizenship (like the beginning of 'Branded' that someone posted recently) if they won't help get the country off it's knees and leave the country floundering - for more bankster greed!

Other than that, if the parent companies shift then they know what to do and prove they can do it by starting their own Investment/other banks under some proper regulations.

Edited November 9, 2010 by erranta

[Umaguma]

I would rather call their bluff and either see them get what's coming and suffer the consequences of their absence.

I doubt however, that they would be missed

the banksters are scum skimming lowlife and know it

[erranta]

I dont think I am

So because other banks needed to be bailed out and Barclays didnt then Barclays are equally liable even though they didnt need to be bailed out? That's your logic? I see you also blame them for low interest rates and high inflation too - hmmm interesting

But they didnt need to be bailed out - that's the point. If they need to be bailed out in the future (not an impossibility) then my position will change accordingly.

Not wanting to get personal either, I imagine you are currently unemployed, voted Liebour and is now looking for someone to blame.

Loads of the Banks would never have survived the knock on effects had their thieving systems not been bailed out by taxpayers!

In my opinion they are just thieving the last of what is left before letting the whole thing collapse.

The blame will be put on something else but it has all been cleverly crafted to suck countries dry and make debt slaves of them ( the Satanic Globalisation) just like they have been for decades thru IMF in Africa/Sarf America etc

Edited November 9, 2010 by erranta

[Bloo Loo]

I dont think I am

So because other banks needed to be bailed out and Barclays didnt then Barclays are equally liable even though they didnt need to be bailed out? That's your logic? I see you also blame them for low interest rates and high inflation too - hmmm interesting

But they didnt need to be bailed out - that's the point. If they need to be bailed out in the future (not an impossibility) then my position will change accordingly.

Not wanting to get personal either, I imagine you are currently unemployed, voted Liebour and is now looking for someone to blame.

check this out...10 minutes about the cascade failure you seem to be missing

what they aimed to avoid

http://www.youtube.com/user/khanacademy?gl=GB&hl=en-GB#p/c/BE233FA3D593154E/7/gX9aKDeAOz4

what they tried and why it couldnt work unless bankers turned a blind eye to reality.

http://www.youtube.c...GB&hl=en-GB#p/p

Edited November 9, 2010 by Bloo Loo

[hirop]

Full steam ahead for the financial industry - a racket so perfect they must piss themselves laughing each and every night.

[Bubble&Squeak]

Were there not a number of secret loans that were made by the Bank and ECB early on in the crisis?

I remember an excellent post here (annoyed I can't find it as it was a particualrly good thread) where it was shown that large amounts of EUR->GBP forex exchanges were being made on the days that the ECB were providing discount loans (bailouts) to insolvent institutions. No specific reports in the public press as to which banks were taking the loans but the GBP value spike was such as to make one believe that the sums were large.

It was shown that this was likely to have been one of the main reasons GBP was so strong vs EUR shortly before it collapsed... it was effectively a weekly shot in the arm for GBP as the banks purchased GBP.

I am sure Barclays, and others, would have been drinking from this teat before it was withdrawn. With all that goes on it is easy to forget the details... they rely on this, they can then rewrite popular history. Bailout? What bailout...

Not to get personal, but Jesus F. Christ, how stupid and naive can you be? Barclays most certainly has been bailed out, through bailouts of other banks to maintain asset prices (and Barclays balance sheet) and lower interest rates at the expense of higher inflation. And do you honestly believe that Barclays wouldn't be bailed out if they ran into difficulties on the back of stupid deals done by bankers knowing that they'll get their bonus whether the bank is driven into bankruptcy or not? The banks love the attitude of people like you and have been milking it for all its worth.