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Maddog21

Mark Steel: We Owe It To Bankers To Feel Their Pain

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http://www.independent.co.uk/opinion/commentators/mark-steel/mark-steel-we-owe-it-to-bankers-to-feel-their-pain-2182016.html#

Mark Steel: We owe it to bankers to feel their pain

At last someone has dared to defend the oppressed people of the banking community. Bob Diamond, chief executive of Barclays, who himself has to suffer the trauma of an £8m bonus, said yesterday that the bankers' "period of remorse and apology should be over". And you feel his pain, because the first words to cross your mind when you see a banker are "remorseful and apologetic". Then you're left worrying, "Oh, how I wish the poor souls were slightly less burdened with remorse about their bonus, and didn't apologise with such agonising sincerity about putting it into their wife's name in a series of untraceable accounts based in uninhabitable islands off Ecuador."

But at last they've learnt to stand up for themselves, and Bob Diamond has emerged as their Martin Luther King. Soon the whole banking community will declare: "Say it out loud, I'm 27 million quid in the black and I'm proud."

Already Bankers' Rights activist Lord Jones of HSBC has protested that bankers who received smaller bonuses last year received "not one jot of praise". Isn't that always the way? It was the same with Ronnie Biggs. Everyone goes on about the year he robbed a train but no one gives him credit for all the years he DIDN'T rob any trains. So is it any wonder the bankers have reverted and taken £7bn in bonuses this year? Because last year they received the much more frugal sum of £7bn, which may look the same but that doesn't take into account the higher remorse rate and the punitively high apology index.

In this paper David Buik, a market analyst with BGC Partners, showed his analytical skills with a detailed economic response to the bonuses: "Life is not fair... Folks, get over it! Let's move on!" This is why we have to pay seemingly vast sums to people in the City, because you wouldn't get that level of fiscal genius from any idiot down the pub.

So at last the bankers may win the human rights they deserve, as even the Prime Minister seems likely to back down. According to a Daily Telegraph headline yesterday, "Cameron admits defeat over bonuses for bankers". This shows how flexible Cameron can be, because he fought so hard to reduce those bonuses, asking the bankers as many as one time if they wouldn't mind reducing them although it didn't really matter, but when the bankers resisted through the wily tactic of taking no notice, he showed he was prepared to think again. But Nick Clegg is still as tough as ever, insisting if they want to swipe this much again that "the key issue is to be sensitive".

So now the same attitudes will probably trickle down to the poor. The Government will scrap their plans for cutting housing benefit, and replace it with a voluntary scheme in which they ask claimants whether they fancy receiving less. And instead of student tuition fees there will be a "graduation loan scheme" in which students are asked to loan a sum of their choosing to the Government, unless they'd rather not. Then the head of the CBI will present a series of adverts about benefit fraud, in which he'll say: "This man claimed unemployment benefit for six months while he was driving a truck for his brother's removal firm. But when he didn't claim it one week he received not one jot of praise. Doesn't it make you sick?"

Then a social security analyst will inform us that there are deep social reasons for some people remaining on benefits, which is "Life isn't fair, get over it", and Nick Clegg will insist that when someone's caught claiming £8m in disability benefit while they're training to compete as an Olympic triple jumper, the key issue is they should try and be a bit sensitive

Edited by Maddog21

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Cameron can feel my pain, as I won't be voting for his party or any other, ever again, ever. And I've been voting for his mob since the days of Ted Heath.

Utterly pointless exercise voting for our politicians. Boycott the next election!

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Cameron can feel my pain, as I won't be voting for his party or any other, ever again, ever. And I've been voting for his mob since the days of Ted Heath.

Utterly pointless exercise voting for our politicians. Boycott the next election!

We need a none of the above on the ballot paper.

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Cameron can feel my pain, as I won't be voting for his party or any other, ever again, ever. And I've been voting for his mob since the days of Ted Heath.

Utterly pointless exercise voting for our politicians. Boycott the next election!

But you could vote Labour and get Alan Johnson for chancellor. He'll sort it out. As long as none of the bankers confuse him with economics. Or long words. Or numbers.

Or lib dem, where the warm glow of embarrassment and anger at voting for a bunch of chancers who apparently didn't really mean what they said in their manifesto will help keep those heating bills down.

Or conservative, and watch as every single decision is based entirely on what would be best for their fellow old etonians.

See, plenty of choice. Next you'll be saying you want good choices.

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Cameron can feel my pain, as I won't be voting for his party or any other, ever again, ever. And I've been voting for his mob since the days of Ted Heath.

Utterly pointless exercise voting for our politicians. Boycott the next election!

The only way to vote is with your feet (literally or metaphorically).

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But you could vote Labour and get Alan Johnson for chancellor. He'll sort it out. As long as none of the bankers confuse him with economics. Or long words. Or numbers.

Or lib dem, where the warm glow of embarrassment and anger at voting for a bunch of chancers who apparently didn't really mean what they said in their manifesto will help keep those heating bills down.

Or conservative, and watch as every single decision is based entirely on what would be best for their fellow old etonians.

See, plenty of choice. Next you'll be saying you want good choices.

Couldn't care less, Johnson wouldn't be any worse or better. Voting in the UK with its sham democracy is an exercise in futility. No doubt we'll tut tut and point fingers at Putins Russia, but UK is really no better.

Edited by Sir John Steed

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I voted with my wallet and to be fair, there was never any indication from the the Tories that they would be bringing house prices back down.

[Which is why I didnt vote for them]

[its not like Cameron/Osborne stood on a pedestal and shouted, "I will not let house prices get out of control"]

It was the Lib Dem's who were constantly banging on about fairness.

[And Nick Clegg appeared on a clip on this forum, courtesy of a member stating that affordable house prices was one of the top two subjects he was asked about. He went onto say they woud be affordable once again within a few years.]

The break up of the coalition would actually bring on the HPC quicker.

Vote Labour? I do not believe anyone priced out of housing now, or for the last 12 years is actually entertaining that.

Id rather be locked in a barrel full of nails and rolled down a hill.

Labour set out to put us in debt slavery. They purposefully did everything possible to create a house price boom.

Edited by Dan1

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Labour set out to put us in debt slavery. They purposefully did everything possible to create a house price boom.

True, but given that so many other countries with all different parties in government had house price booms at the same time we did, I really doubt that Lib/Con or even UKIP/Green/BNP would have been any different.

Democracy plus fiat currency equals disaster. For as long as politicians can print themselves, their well-connected friends, and the marginal swing voter out of trouble, that is exactly what they will do. Since my vote will not affect their actions one bit under those circumstances, I see no point in voting.

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Bankers will feel pain, when Americans start shooting them. Which I have no doubts they will do. Politicians similarly. And once a couple of thousand have been shot, and I do believe it will be in the thousand, then suddenly a whole new era of fiscal responsibility will wash over the banker/political class. Suddenly it will after all be possible for people who work not to be robbed by bankers playing the game of asset bubble and deflation.

Meanwhile, they will continue to loot the treasury, destroying the currencies and all stores of value (apart from PM) in the process and telling the poor they must keep paying for it (and to keep buying into a bubble). Suck it up, as Charlie Monger says.

The banksters used to keep houses in places like County Kerry for when the reckoning was nigh, where they could run to and be safe. I suspect that is still the plan.

We are in an interesting time. I suspect that, like the first world war, the elegant plans people at the top have made will appear to work for a time, and then fail short catastrophically, for them as well as us.

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Bankers will feel pain, when Americans start shooting them. Which I have no doubts they will do. Politicians similarly. And once a couple of thousand have been shot, and I do believe it will be in the thousand, then suddenly a whole new era of fiscal responsibility will wash over the banker/political class. Suddenly it will after all be possible for people who work not to be robbed by bankers playing the game of asset bubble and deflation.

I very much doubt that. Despite all the guns and "yeeh haw" attitude Americans are quite passive. There is no background of political revolt or violence (except in the civil war, and perhaps the race riots in the 60's). As has been explained to me, demonstrations are just not in the American vocabulary. Coupled with general confusion over what to do and an almost child like acceptance that capitalists are good and socialists are evil, its a dangerous cocktail of indifference.

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The banksters used to keep houses in places like County Kerry for when the reckoning was nigh, where they could run to and be safe. I suspect that is still the plan.

Really? The place is stuffed with IRA supporters. They used to kidnap bankers in the '70s.

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There is no background of political revolt or violence (except in the civil war, and perhaps the race riots in the 60's).

Time will tell. We clearly have opposite views on this one.

I believe there are enough militia armed with guns and wanting to fight for the constitution against the federal government, that a fraction of them will be unhinged enough, or financially ruined enough, to get in their car and go carry out an assassination. The fact they believe they are saving their country, that the bankers are criminals, that they will be heroes to their people, all push them in the same direction. It's like the movie taxi driver, an unhinged individual ready to jump into an act of violence, preparing for it; the only question is how many people like that there are, polishing their guns as we speak. I think there may be a snowball effect as well, bankers are such an obvious target.

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I very much doubt that. Despite all the guns and "yeeh haw" attitude Americans are quite passive. There is no background of political revolt or violence (except in the civil war, and perhaps the race riots in the 60's). As has been explained to me, demonstrations are just not in the American vocabulary. Coupled with general confusion over what to do and an almost child like acceptance that capitalists are good and socialists are evil, its a dangerous cocktail of indifference.

It will not be the "normal, sane" Americans that do the shooting though. I think it will start soon.

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Time will tell. We clearly have opposite views on this one.

I believe there are enough militia armed with guns and wanting to fight for the constitution against the federal government, that a fraction of them will be unhinged enough, or financially ruined enough, to get in their car and go carry out an assassination. The fact they believe they are saving their country, that the bankers are criminals, that they will be heroes to their people, all push them in the same direction. It's like the movie taxi driver, an unhinged individual ready to jump into an act of violence, preparing for it; the only question is how many people like that there are, polishing their guns as we speak. I think there may be a snowball effect as well, bankers are such an obvious target.

Indeed.

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We need a none of the above on the ballot paper.

All you need to do is write "None of the above" at the bottom of the paper. It will count as a "spoiled paper". WTF would they do if the total of spoiled papers were more than the total number of votes cast for any individual candidate?

If you don't vote at all, it just looks like apathy.

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All you need to do is write "None of the above" at the bottom of the paper. It will count as a "spoiled paper". WTF would they do if the total of spoiled papers were more than the total number of votes cast for any individual candidate?

If you don't vote at all, it just looks like apathy.

www.noneoftheabove.co.uk

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How about joining together and starting our own party? Pay ourselves minimum wages, minimum expenses, no second homes, protect uk-based industries, buy back foreign-bought utilities, big subsidies for companies employing uk-born employees, zero immigration.

I'm serious. It's not gonna happen unless we do something about it.

We are long due a new political party....it is owed to us. ;)

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Care enough to be a founding member?

I would, but not sure where the town of Ixtlan is

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Really? The place is stuffed with IRA supporters. They used to kidnap bankers in the '70s.

Perhaps you're thinking of a different county?

Of course everyone in County Kerry supports the pre 1922 IRA; it was their war of independence. They're a pretty laid back lot these days; I've never heard of kidnaps in the 70's.

As for the boltholes, they are there all right. Empty palazzo's, waiting for armageddon. An extraordinary scene, in the middle of nowhere. Well worth a look.

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In this paper David Buik, a market analyst with BGC Partners, showed his analytical skills with a detailed economic response to the bonuses: "Life is not fair... Folks, get over it! Let's move on!" This is why we have to pay seemingly vast sums to people in the City, because you wouldn't get that level of fiscal genius from any idiot down the pub.

Thank god I'm not the only one who thinks Buik's a t0sser. Can't stand him on LBC every morning doing the business segment. Worse than business news on BBC (if that's possible). So smug and such an ardent capitalist busy talking up the city.

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How about joining together and starting our own party? Pay ourselves minimum wages, minimum expenses, no second homes, protect uk-based industries, buy back foreign-bought utilities, big subsidies for companies employing uk-born employees, zero immigration.

I'm serious. It's not gonna happen unless we do something about it.

It would only ever be a small party and might not ever get more than one seat in a by election.

Best to discredit the whole election process. Say less than 50% turn out at the General Election. Legally a government could be formed but would lack a mandate. Parties then needing to genuinely change and listen, in order to re engage the electorate, rather than the "fake" change foisted on us lately.

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  • 312 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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