C4 News tonight and Conservative Hypocrisy

[Phanerothyme]

Companies can pay their execs whatever they want, whining about how much people get paid by their companies is pathetic.

 

However, I'm concerned that we don't seem to have anyone in the dock over Libor, if the multi billion pound fraud had been an armed robbery every copper in the country would be looking for them. Let's see some barclays people in the dock for the massive fraud they have already corporately admitted.

 

I'm looking forward to the compensation claim from either mortgage holders or banks savers. A considerable number of them lost out due to the LIBOR fixing conspiracy. It will all add up to a pretty penny, if it's not simply swept under the (very lumpy and uneven) carpet.

[Crosser]

Don't forget that the government has gradually forced everyone to have a bank account in order to function.

 

Now that they have nearly abolished any purely cash payments, the banks have started to try charging for current accounts.

 

They have had several attempts at charging for this over the last few years.

 

I predicted this in the 80's when things started going to bank accounts & atm's .... To be honest I'm surprised it isn't mainstream yet.

 

But it WILL be, and probably soon now.

 

 

Afterall why would the banks offer "free" accounts and ATM facilities unless there was something in it for them?............. Well there WAS .... until the interest rates dropped, and unless it rises soon, expect to pay to access your own money soon!

[Ministry88]

No-one working in the public sector is 'living hand to mouth'. Private sector workers are the ones who are struggling, and even they aren't 'living hand to mouth'.

 

Yes, like Mikeam I'd like to know where you've got your evidence from. Order of the day is pay freezes, forced/threats to resign altered contracts, unfilled posts but expected to cover them thus doubling workloads.....please enlighten us where you have received your evidence.

[alchresearch]

“The sheer hypocrisy of Labour to point the finger on bankers’ bonuses is staggering. Labour presided over the biggest boom in bonuses this country has seen, from £3.1bn in 2001 to £11.5 billion in 2007. At the same time, they sat back and knighted the financial speculators who led this country to the brink of economic collapse.

 

http://www.libdems.org.uk/latest_news_detail.aspx?title=Lorely_Burt%3A_Labour_hypocrisy_on_bankers%E2%80%99_bonuses&pPK=f7fc0ab4-14ed-4610-b3c0-ee5ab1184933

 

Labour’s incoherence on bankers’ bonuses

 

Labour is busy stoking up rage over the bonus culture – quite right too, some will say. It is, after all, the opposition’s job to cause trouble for the government. But there’s a good deal of hypocrisy in its claim that it wants to get tough with the City.

 

As Jeff Randall points out in The Daily Telegraph, Labour was more than happy with the bonus culture when it was in office. Far from challenging the iniquity of boardroom bonuses, Gordon Brown saw them as a source of easy money with which to bribe voters and create a client state. “In the old days, the Treasury used to cheer when these bank bonuses were announced,” Alistair Darling, the last Labour chancellor, admitted on Sky last week.

 

Among those cheering when the cash was transferred from Canary Wharf to Whitehall was Ed Balls, which may explain, says Randall, why the shadow chancellor “has been so subdued recently on finance-sector incentives”. Instead, the attack on the government has been led by Chuka Umunna, shadow business secretary, and Rachel Reeves, shadow chief secretary to the Treasury, “who proposes to fund job creation with a tax on – you’ve guessed it – bankers’ bonuses”.

 

What all this adds up to is incoherence – and incoherence, as Randall says, is an unaffordable luxury in politics. Labour can’t have it both ways. The top 1% of earners pay nearly 27% of Britain’s total income tax. If Miliband and his team plan to demand a reduction in the clout of the financial services industry, and a reduction in top-end bonuses, then they will have to explain how they would make up the loss in government income that would result. What are they planning? More taxes for the rest of us? Deeper spending cuts?

 

http://www.moneyweek.com/spending-it/blowing-it/578-labours-incoherence-on-bankers-bonuses-57845

[WeX]

On the day that more austerity is announced, Rich Ricci, Barclays fat cat, with his aptly named racehorse, 'The Fat Cat in the Hat', pockets millions in shares

 

http://www.mirror.co.uk/money/city-news/barclays-boss-rich-ricci-pockets-1775429

 

When confronted with this just now on C4 news, Brooks Newmark, Conservative MP, Treasury Select Committee says it's not up to the government to cap what people earn. Try telling that to the hard working people on a pittance at ground level in the public services, with year after year of pay freezes as the cost of living spirals and they are living hand to mouth.

 

Commenting, John Mann MP, Labour, Treasury Select Committee said it's an insult that Barclays Criminal Fraud has cost us so much and not a single person has been punished and they are paying themselves huge bonuses, 'It says something about the morality that we now have, that there aren't demonstrations on every street in the country'.

 

I couldn't agree more. This is absolutely disgusting.

 

Why are you so interested in Barclay's paying bonuses, its not state owned or did it receive state support. What they pay their staff is their business and it has nothing to do with any political party!

[truman]

They have had several attempts at charging for this over the last few years.

 

I predicted this in the 80's when things started going to bank accounts & atm's .... To be honest I'm surprised it isn't mainstream yet.

 

But it WILL be, and probably soon now.

 

 

Afterall why would the banks offer "free" accounts and ATM facilities unless there was something in it for them?............. Well there WAS .... until the interest rates dropped, and unless it rises soon, expect to pay to access your own money soon!

 

They make money by lending your money out to other banks/people/companies .. they give you nothing for it but run your account for free (so long as you don't go overdrawn)

[Mr Bloom]

why are you so interested in barclay's paying bonuses, its not state owned or did it receive state support. What they pay their staff is their business and it has nothing to do with any political party!

 

l.i.b.o.r.

[Supertramp]

l.i.b.o.r.

 

It is a PRIVATE company. Nothing to do with the government, you can moan that the LIBOR punishment was crap BUT they can pay their staff whatever they like.

[green]

The moment we bailed the banks and offered £85k security on accounts those bonuses went out of the window.

 

The banksters have a choice, they either believe in capitalism and as such they would likely be jobless now, or they have their bonuses removed because we bailed them.

 

You cant have it all ways.

[Vague_Boy]

says it's not up to the government to cap what people earn. Try telling that to the hard working people on a pittance at ground level in the public services

 

Well, if you work for the government, of course they can cap what you earn. If you don't like it, get a job in the private sector (if they'll have you).

 

I don't work in the public sector, hence the government has no say in what I earn.

 

It's not rocket science.

 

Austerity relates to the public finances. If you're personally in the black and living within your means, austerity is unnecessary (now, where did I put that Dodo pâté?).

 

It's only because the public finances have been run so badly that we need austerity.