Monday, 3 August 2009

Over paid bankers rear their ugly heads again.

LONDON, ENGLAND - AUGUST 03:  HSBC and Barclay...Image by Getty Images via Daylife

It had been announced today that the banks HSBC, and Barclays have made profits of around three billion each, and already there is talk of outrageous bonus payouts.
These banks were bailed out by the taxpayer, putting the economy in the disastrous state it is now in, leading to years of recession before it recovers, leaving each and every one of us much poorer, thanks to the bankers irresponsibility.
The billions borrowed is "DEBT" owed to the taxpayer, and until it is paid, the banks HAVE no profit, as debts should be paid off before their bankruptcy is lifted,and they become a solvent business in their own right again.
Bankruptcy being the correct word, the word, the same banks use against members of the public who go out of business by loosing their assets.
Before any bonuses should be considered, the bankers should have to prove that there is a steady enough growth to warrant them, but most importantly pay off all debts first.
Why should the very people who put us into this mess in the first place, reap any benefits before we do?
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  1. Great minds think alike.. :) I was kinda thinking of the same thing when I heard about the news. For heaven's sake, why don't they fix their bankruptcy problems first before awarding incentives to the people who, in the first place, are not yet even proven whether or not can be of contribution to the bank's future progress. They simply do not know how to prioritize and set long-term feasible plans as seen on their risky decisions. Pity on them in the end when the total bonuses given out are even greater than the bank's total profit or income.

    To those who would defend the other side, try to weight things out. Let's just think about the benefit of the majority which should definitely come first.

    Great post. I agree 101%.