Bank Watch ...

[extractorfan]

I'm very sexy, but not in it for the money, just the ride.

[Little John]

Homeless, destitute ex-banker sleeping in park in Croydon:

http://www.bbc.co.uk/news/uk-england-20704588

Poor bastard



It's good to see you're broken
But I'm not glad you're hurt
I'm just glad you're back
And that your bubble burst
The dreams that you were chasing
Have left you in the dirt
Things are getting better
Now that things are getting worse

You only heard the sermons
Of how much money you were worth
Now you'll have to listen
To the rythms of the earth
There's a brand new order coming
And you will not be first
Things are getting better
Now that things are getting worse

And all the easy money
Is flying out the door
It's back to basics now
That you have joined the poor
You'll have to meet your neighbours
And find out what you're worth
Things are getting better
Now that things are getting worse

Our blessings don't come easy
That is just our curse
With our foot hard to the pedal
We are in reverse
We'll make more friends out walking
Than driving in that hearse
Things are getting better
Now that things are getting worse

[Tarrel]

Just watched the Panorama programme in which he was featured. Desperately sad and depressing to watch. Not just his story, but the many others featured.

I like the poem. Where did it come from?

[JavaScriptDonkey]

Gene Burnett

[kenneal - lagger]

The bankers plight makes you wonder if we are that much different from animals. While on the up and successful the female of the species saw him as a good match but when he could no longer deliver the goods she ditched him for a better more successful match. Survival of the fittest!

I also wonder what we weren't told in some of the cases as their treatment, from what we were told, seemed unduly harsh. There have been many cases recently of care workers in homes abusing their charges. Is this the Housing Department equivalent: workers taking their frustrations out on their clients for making their working lives uncomfortable?

[Little John]

The bankers plight makes you wonder if we are that much different from animals. While on the up and successful the female of the species saw him as a good match but when he could no longer deliver the goods she ditched him for a better more successful match. Survival of the fittest!

I also wonder what we weren't told in some of the cases as their treatment, from what we were told, seemed unduly harsh. There have been many cases recently of care workers in homes abusing their charges. Is this the Housing Department equivalent: workers taking their frustrations out on their clients for making their working lives uncomfortable?

Stress can bring out either the best or worst behaviour in humans . Which becomes most prevalent depends on the underlying culture pre-dating the stress. Given that we have developed, especially over the last two or three decades, a culture of "F--k-you-Jack I'm alright", "it's every man for himself", it would be most unsurprising to see the growing stresses in our economy leading to equally culturally unpleasant responses to that stress.

We reap what we sow.

[UndercoverElephant]

The bankers plight makes you wonder if we are that much different from animals. While on the up and successful the female of the species saw him as a good match but when he could no longer deliver the goods she ditched him for a better more successful match. Survival of the fittest!

I don't think there is any doubt that many human reproductive strategies also occur in nature...pretty much where-ever there are monogamous male-female couples.

I also wonder what we weren't told in some of the cases as their treatment, from what we were told, seemed unduly harsh. There have been many cases recently of care workers in homes abusing their charges. Is this the Housing Department equivalent: workers taking their frustrations out on their clients for making their working lives uncomfortable?

That's about abuse of power. Whenever humans are given power and there is no power above them watching to prevent abuses, abuses will happen.

[emordnilap]

Bank of England warns Lloyds and RBS need billions more in capital

The warning came as regulators admitted that the government had overpaid when rescuing the banks in 2008. Britain's banks may now be forced to raise large amounts of capital in a short time to ensure they remain solvent, Bank of England (BoE) officials said.

More here.

[JohnB]

That's a few more disabled people who will have to get off their arses and get a job then .

[adam2]

Things look a bit worrying in Cyprus !
An emergency levy has been anounced on every bank account, in effect the confiscation of a percentage of everyones savings.
"controls" indroduced to prevent electronic withdrawals in advance of the confiscation which is to be over this weekend.

http://www.bbc.co.uk/news/world-europe-21814325

edit to add link.

Could never happen here could it ?

[JavaScriptDonkey]

Just seen it myself.

Interesting take on the concept of bailing out the country by making the people of the country pay for it.

"You voted these idiots in on the basis if their daft spending plans so now you get to pay for it."

[adam2]

The confiscation of part of ones savings is bad enough, but AFAIK this levy applies to all bank accounts.
Think of the person whom yesterday had 510 euros in the bank ready to pay a 500 euro utility bill on teusday, they now have less than 480 euro in the bank but must still pay a bill, perhaps by direct debit.

UK experiences suggest that the banks will delight in extracting say 50 euro for bouncing the direct debit, plus as many other fees, fines and charges as they can.

[clv101]

It might feel different, and as adam2 points out, there could be some short term practical difficulties. But it's not very different from the QE we've been seeing there. Cyprus can't unilaterally print more euros, so just have to take what's already in circulation.

QE has already done similar here.

[adam2]

The overall effect of QE or of partial confiscation is indeed very similar, but QE is a bit more gradual.
I predict a series of bank runs in the less stable bits of the eurozone as people rush to protect their money.

Although this is said to be a "one off" I believe that they said that about income tax !

[biffvernon]

At least it has a strongly progressive element:

People in Cyprus with less than 100,000 euros in their accounts will have to pay a one-time tax of 6.75%, Eurozone officials said.

Those with greater sums will lose 9.9%.

Depositors will be compensated with the equivalent amount in shares in their banks.