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J P Morgan London Branch Divvy Up £2,000,000,000.00 In Pay & Bonuses

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http://uk.finance.yahoo.com/news/JP-Morgan-UK-bankers-handed-tele-1027257908.html?x=0

Richard "Dick" Blackden and Harry "Harry" Wilson, 8:54, Saturday 15 January 2011
JP Morgan Chase's London bankers scooped almost
£2bn in pay and bonuses
last year, a reward that will feed the explosive political debate over the role the City should play in Britain's economic recovery..../
However, the bonus pool at the investment banking division, which includes its capital markets business,
rose despite profits slipping
to $6.63bn for the year from $6.89bn.
:lol:

The "explosive debate" might, if this does not get rectified, become a conflagration. :angry:

Edited by Realistbear

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http://uk.finance.yahoo.com/news/JP-Morgan-UK-bankers-handed-tele-1027257908.html?x=0

Richard "Dick" Blackden and Harry "Harry" Wilson, 8:54, Saturday 15 January 2011
JP Morgan Chase's London bankers scooped almost
£2bn in pay and bonuses
last year, a reward that will feed the explosive political debate over the role the City should play in Britain's economic recovery..../
However, the bonus pool at the investment banking division, which includes its capital markets business,
rose despite profits slipping
to $6.63bn for the year from $6.89bn.
:lol:

The "explosive debate" might, if this does not get rectified, become a conflagration. :angry:

So labour costs are less than a third of profits. Sounds like the shareholders are getting value for money.

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So labour costs are less than a third of profits. Sounds like the shareholders are getting value for money.

The problem is where, exactly, do the billions come from? If not actual profits from actual loans to real people who buy things to help the economy, they must be conjured through false accounting methods. And what good to society and to the economy are banksters who conjure money through creative finacing instruments out of which they pay themselves real money to buy real things with?

In the meantime, the real economy is starved of loans because the banksters have indebted them beyond their ability to repay. The economy has become hooked on false accounting and manufactured money while industry and productive activities have withered and died.

The net result is a MASSIVE ponzi that is kept going by the mugs who invest in the banks and use their products to buy other products from the same magical false accounting source. Its basically fractional reserve on hyper-steriods.

Its a massive fraud and time for another Lerach to take up the case and sue them into oblivion.

Edited by Realistbear

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The problem is where, exactly, do the billions come from? If not actual profits from actual loans to real people who buy things to help the economy, they must be conjured through false accounting methods. And what good to society and to the economy are banksters who conjure money through creative finacing instruments out of which they pay themselves real money to buy real things with?

In the meantime, the real economy is starved of loans because the banksters have indebted them beyond their ability to repay. The economy has become hooked on false accounting and manufactured money while industry and productive activities have withered and died.

The net result is a MASSIVE ponzi that is kept going by the mugs who invest in the banks and use their products to buy other products from the same magical false accounting source. Its basically fractional reserve on hyper-steriods.

Its a massive fraud and time for another Lerach to take up the case and sue them into oblivion.

Quite so RB. Much of the easy money they make is by doing stuff for old rope. Buy a government bond, then sell it back to the central bank in one of their purchasing operations. Anyone could do it. They also make money front running deals, illegal but hard to prove.

The bank isnt run for the benefit of shareholders, but for the crooks inside. They have to bleed it dry, without killing it, or if they kill it, be so powerful that taxpayers will bail them out.

They cant really do this by cranking up wages too far, as a bad year will leave them with the same wage bill, but no cash to pay it with. So instead they convey their ill gotten gains out of the bank, and into their pockets, in full view of the world, via means of the bonus.

We need some honest cops to go and have a look at these banks. They need to look at front running, insider dealing, balance sheet fraud and fraud via misrepresentation.

An investment shouldnt be making abnormal profits. What they do in theory is quite simple. They bet on the markets, but if they have no insider information, then there is no way that they can continually beat the markets. That they do speaks volumes.

They also gain a fee for issuing debt. If this was competitive as it should be, their shouldnt be much profit in it. I dont understand why big companies dont just issue their own bonds directly, and keep the fee? I would be interested to know why if someone could explain this to me.

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How big was Tony Bliar's bonus?

January 2008

Tony Blair will be paid £2.5m a year for his post at US investment bank JP Morgan, it was revealed today.

It is the first of a series of posts that could see the former prime minister rake in a staggering £40million.

http://www.dailymail.co.uk/news/article-508157/Tony-Blairs-time-bank-job-make-times-expected.html

Edited by Redhat Sly

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Profits at JP Morgan, the only bank to stay in the black throughout the financial crisis, were polished as an improving US economy allowed it to include $7bn it had put aside to cover bad loans

Seems all they've done is restated loan provisions so they can pay it out to themselves in bonuses.

If these turn out to be junk in a few years time they'll come back with their begging bowl.

Same old scam.

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Very few in the police actually understand whats going on and the same can be said about the politicians, they dont understand whats going on either, they just rely on the same experts to tell the truth but those experts dont want to spill the beans becuase its like shooting themselves in the foot. Why would anyone do that now?

There are some though who do understand whats going on becuase they have to write the very software that carries out the banks activities.

This is the key to their success. They have obscured the truth so cleverly that no one knows what is happening or whether it is fraud or not. They need to bring in a predatory firm of lawyers to sort it out and pay them a whopping fee for their trouble as it would be worth it.

Banking is no longer banking as the world knew it a couple of decades ago. It has been hijacked by spivs and those without any education or financial expereince in the legitimate world. I recall one of the banksters (Freddy the shredder I believe) being asked by an MP what qualifications did he have? None. What previous banking experience? Virtually none. Why was he paid millions in salary and bonuses? Smile.

We have all been ripped off and someone needs to do something. I have a feeling someone may be trying. ;)

Edited by Realistbear

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If JP Morgan have a problem in 5 years time or someone of a similar size we have to let them fall back down, otherwise they and those who keep their money

with them will learn nothing inclduing the general public putting their wages into a High Street Bank.

Nobody can say we haven't been given a vey expensive lesson on how weak and bloated the industry is.

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How big was Tony Bliar's bonus?

That is commercially confidential. You wouldn't want some other bunch of thieves bagging this top prize would you?

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Of course the government's timing in all this was dreadful as usual. Trust 'em to make yet another mess of things.

If they'd nationalised the banks when they were solvent the politicians could have been the ones getting the billion dollar bonuses now - in case they left the country :lol:

Then they wouldn't need to be bribed by the bankers offering jobs etc after leaving Parliament.

Edited by billybong

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Of course the government's timing in all this was dreadful as usual. Trust 'em to make yet another mess of things.

If they'd nationalised the banks when they were solvent the politicians could have been the ones getting the billion dollar bonuses now - in case they left the country.

Then they wouldn't need to be bribed by the bankers offering jobs etc after leaving Parliament.

Cameron looks like a clown and a shit at the same time, quite an achievement. All the politicians are in this up to their armpits, never mind cash for questions its cash for policy all the way.

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So labour costs are less than a third of profits. Sounds like the shareholders are getting value for money.

Surely that depends on the divedends/share price growth.

It did say pay and bonuses rather than just bonuses. So theoretically they could have a 1.8 billion payroll and 0.2 billion bonus, which isn't particularly extravagent.

( Of course that doesn't mean what RB was saying about them being parasites on society isn't true )

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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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