Most bankers are crooks

[L00b]

Interesting. Do you have anything to back this up?

 

Enjoy

 

Were Northern Rock and IndyMac solvent at the time, at the time the regulators acted to resolve them, or were they victims of short-term liquidity crises and only suffering temporarily depressed asset values? <...> For example, the inability of UK regulators to find a buyer for Northern Rock without the need for substantial governmental support implies that, at least in market value terms, NR was not solvent. On the other hand, in terms of Basel I risk-based book value capital, it was quite solvent. Because residential mortgages are assigned a low risk weight in this protocol, risk based capital measures showed home mortgage lender NR to be highly capitalized. However, at the end of June the NR reported a capital-to-assets leverage ratio of only near 2%. This level is defined in the US law as “critically undercapitalized” and the level at which US regulators are required to invoke legal closure within 270 days. In addition, the bank’s assets grew by nearly 30% over the previous year at a time that the mortgage market was showing signs of stress, and this should have served as a read flag. Yet the UK regulators not only failed to take notice, but effectively rewarded Northern Rock by permitting it to compute its minimum capital requirement by the Basel II advanced internal rating approach rather than Basel I. This action further reduced its risk-weighted assets by over 40% and reduced its risk-based minimum capital requirement substantially. Much of the “excess” capital was scheduled to be paid out as dividends.

No-one went to jail then, what makes you think they would now, I1L2T3?

[I1L2T3]

Interesting. Do you have anything to back this up?

 

Yes. That figure was supplied as written evidence to a House of Commons Treasury committee - the NR figure was 322%

[I1L2T3]

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No-one went to jail then, what makes you think they would now, I1L2T3?

 

I think it is still early days. Most people don't understand what has happened but when they do there will be demands for prosecutions IMO.

[harvey19]

Is there any joined up thinking out there?

What do you think the Occupy Sheffield lot are doing? They are crying out for justice.

 

These Bankers run the politicians (as the programme clearly showed) as easily as the Mafia ran Chicago.

They are the ultimate Mafia bosses, with all the money, power and influence in the world to protect them.

Watch the interviews when they were up before the Senate enquiries. They are above the law. The police won't touch them.

You say in later posts some bankers ruined pension funds.

If their actions were accepted to be provably corrupt and illegal why did not these powerfull pension fund executives demand legal action be taken against them.

I am not defending anyone but I think it is necessary to determine why the laws of the land are not applied to them which is not a matter to be dealt with in a flippant way.

[L00b]

Most people don't understand what has happened but when they do there will be demands for prosecutions IMO.

Would enough people ever understand to constitute a politcal 'critical mass'?

 

That's a big assumption. IMO.

 

'Solving' the issue (to the extent of warranting and obtaining criminal prosecutions, besides other, more regulatory courses of action) would require enough G8/G10/G20 governments with clean hands to tackle it head-on, in a coordinated manner.

 

My (admittedly very cynical...note to self: must seek professional help) $ says it won't happen.

[grafikhaus74]

The problem with programmes like this is that nobody watches them. They are literally only preaching to the converted, not to the people who most need to see them.

 

Ain't that the truth. The reason 'they' get away with it is that they know the great masses are basically thick - too busy watching X-Factor, TOWIE and Strictly and arranging their payday loans.

 

But the title of this thread intrigues me. Most bankers are crooks. I presume we're talking of the Fred Goodwins of this world with their chauffeur-driven limos and vast bonuses for being failures. But what about the bank staff? You know, those smiling assassins who for years have been pushing totally unsuitable products, the latest of which were the HSBC financial tools for the elderly?

 

HSBC insider tells how the elderly became targets as soon as they entered bank

 

Yes, as well as running radio stations (Ice Ice, Baby!) and singing angelic songs, these people have justified their (non) jobs by fleecing the public.

 

They're all as culpable.

[I1L2T3]

Would enough people ever understand to constitute a politcal 'critical mass'?

 

That's a big assumption. IMO.

 

'Solving' the issue (to the extent of warranting and obtaining criminal prosecutions, besides other, more regulatory courses of action) would require enough G8/G10/G20 governments with clean hands to tackle it head-on, in a coordinated manner.

 

My (admittedly very cynical...note to self: must seek professional help) $ says it won't happen.

 

It couldn't happen now but I think we will have a very different social & economic landscape within the next couple of years.

 

The questions will start to be asked. Don't think we couldn't have a similar process to the arab spring. It has happened in Europe before and it WILL happen again.

 

We do not have a steady state system. We have a highly unstable and potentially very volatile system now.

[purdy]

The people outside the cathedral are making no difference what so ever to anything positive in relation to your concerns. Nothing is changing by them being there.

 

They are. They are putting off people who might want to invest money in Sheffield and provide jobs for the unwashed mob who are camping outside the cathederal.

[mossdog]

You've missed the point entirely.

I never mentioned the Labour government, or the conservatives other than to mention David Cameron as this week's liar. Brown / Labour are every bit as bad.

 

The bankers were in power before, during and after the start of the crisis, and having been proved corrupt and/or innept the programme clearly showed they now hold some of the highest positions in the land.

 

Make no mistake, it's clearly the bankers who are in power.

No it's not!.............it's the people who are in ultimate power,the bankers are only there to feed a public who have not got the money to buy things they want today.If there had not been a borrowing feeding frenzy over the last three decades,most banks would not exist.

Ween the people off the credit drug then your average banker would have to resort to stacking shelves at Tesco!................and ween the politicians off it too and they can join them!

[Mecky]

No it's not!.............it's the people who are in ultimate power,the bankers are only there to feed a public who have not got the money to buy things they want today.If there had not been a borrowing feeding frenzy over the last three decades,most banks would not exist.

Ween the people off the credit drug then your average banker would have to resort to stacking shelves at Tesco!................and ween the politicians off it too and they can join them!

 

Crkey I'll have some of what you're drinking. what you scribbled doesn't make the slightest bit of sense