Bankers threaten to resign.

Combwork · #1 12-03-2009, 09:56 AM

No I'm not making it up. After the government (who after bailing them out with taxpayers money own more than 50% of the bank) told Royal Bank of Scotland chiefs "no bonuses this year", the greedy bastards have threatened to resign. All of them.

I'd say let them go. No severance pay; let them walk. OK, lets not be mean. We could give them their bus fare, but only if they ask nicely. There must be enough genuinely skilled and well motivated people out there willing to do the job for a fair salary. Remember, when those pricks claimed to have made a lot of money for the bank, it was the the banks money they were gambling with, not their own. When it all went tits up it cost them nothing. It's like playing poker with money going to you if you win while your employer covers your loses.

Fast_Eddie · #2 12-03-2009, 10:00 AM

Quote:

Originally Posted by Combwork

No I'm not making it up. After the government (who after bailing them out with taxpayers money own more than 50% of the bank) told Royal Bank of Scotland chiefs "no bonuses this year", the greedy bastards have threatened to resign. All of them.

To be fair, I think most of these guys could find a better job. If that's the case, God love them and may they prosper. As much as we dislike it, we're talking about people who work in a world we can't imagine. One where people make a lot of money. I think they're just pointing out that these crazy bonuses are part of that world and if they can't get them in their current jobs they can get them elsewhere.

These are the people, by the way, that the Reagan/Bush gang kept giving tax cuts to. I guess people didn't realize who they really were before now.

merrylander · #3 12-03-2009, 10:28 AM

Ed if they are all that smart how come they went belly up? Let them go by all means and promote the janitor.

Grumpy · #4 12-03-2009, 12:40 PM

Bankers and threats. Two words used in a sentence that should have been outlawed during this economy.

I have some advice for them.

Be like Mike and do it !

Fast_Eddie · #5 12-03-2009, 01:15 PM

Quote:

Originally Posted by merrylander

Ed if they are all that smart how come they went belly up? Let them go by all means and promote the janitor.

Wasn't necessasarily in their best interest to run the banks in our best interest. Maybe we need some regulation.

HatchetJack · #6 12-03-2009, 01:51 PM

Taxpayers should never have to pay bonuses to corrupt companies. However,
had the banks stuck with strict standards and 10% downpayments on home
loans and not been strongarmed by the Clinton administration to put 2nd and
3rd tier people in Mcmansions our banks and home values would still be
strong. All the blame can not rest with Clinton though as Bush should have
stopped it. Can you see the outrage that would have happened if he did that.
We made money too easy to get and turned it into a cheap slut. Now we are
paying the price.

merrylander · #7 12-03-2009, 02:25 PM

Jack the mortgage system was designed by thieves for thieves, no point trying to blame Clinton or Bush. Some mortgage agent gets a mortgage for an individual, takes one point off the top and is never seen again. The banks bundle the mortgage together with others and sells the resulting product and also takes a point or two. Neither the agent nor the bank gives a tinker's dam about what happens to that mortgage because they took the money and ran.

If the people who initiate the mortgages get the money at zero risk do you really think they care about the person's credit rating. If you really do I am running a special on the Bay Bridge this week.

That sort of theivery is not allowed in Canada that is why none of their banks needed a bailout.

HatchetJack · #8 12-03-2009, 05:16 PM

I agree, they were all in on the scam. From the Real Estate agents to the
appraisers, the builders, inspectors, surveyors, underwriters and even the
mexicans got rich. But, the buck could have stopped with the government.
After all they regulate and set the interest rates and agreed to the lower
standards. Bottom line, we are having to pay the price as the big banks
were hit the hardest. They loaned our money to people with lessor credit.
Redistribution of wealth works great dont it?

noonereal · #9 12-03-2009, 05:36 PM

Quote:

Originally Posted by HatchetJack

I agree, they were all in on the scam. From the Real Estate agents to the
appraisers, the builders, inspectors, surveyors, underwriters and even the

I still don't understand why these folks are not in jail.

HatchetJack · #10 12-03-2009, 05:50 PM

Well they really didnt break any laws. They were taking advantage of a
market that was artificially created. Maybe we should look at the bozos
that allowed it happen.