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Banks punishment

Community Veteran
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Registered: 21-03-2011

Banks punishment

In Vietnam they treat embezzling and fraudulent bankers somewhat differently. The authorities use lethal injection. The amount embezzled was $25 Million.
Now Zen, but a +Net residue.
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Community Veteran
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Registered: 08-01-2008

Re: Banks punishment

Seems fair to me..  Lips are sealed
Call me 'w23'
At any given moment in the universe many things happen. Coincidence is a matter of how close these events are in space, time and relationship.
Opinions expressed in forum posts are those of the poster, others may have different views.
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Grafter
Posts: 673
Registered: 08-09-2008

Re: Banks punishment

Actually, we do treat bankers with an injection - A toxic injection of opium - vis Other People's Money. Whether by bailout, nationalisation, printing money or, the toxic effect on capital portfolios of real-term negative interest rates, bankers live in a win-win universe where risk is no longer part of the reward equation.
Cool Austerity is for everyone.... else
Community Veteran
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Registered: 24-09-2008

Re: Banks punishment

Quote from: AlaricAdair
In Vietnam they treat embezzling

What a splendid idea...............should be extended to politicians  Cheesy
WTF
Grafter
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Registered: 14-09-2012

Re: Banks punishment

To be fair to our bankers, they don't embezzle ..
Why would they need to when the BoE is handing them £40 BILLION each and every month?
Some of which the bankers then use to lobby for benefit cuts for the poor.
The news this morning was that Tory back benchers are campaigning against an increase in tax allowances because it doesn't benefit the middle classes - strangely, I don't remember any of them raising that objection when they cut taxes for the mega-rich last year ..
Community Veteran
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Registered: 12-08-2007

Re: Banks punishment

When have bankers lobbied for benefit cuts for the poor Undecided
Community Veteran
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Registered: 02-08-2007

Re: Banks punishment

I Don't know the answer to that question but it would be interesting to know if they have ever lobbied for benefit INCREASES to the poor.
WTF
Grafter
Posts: 673
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Registered: 14-09-2012

Re: Banks punishment

Quote from: artmo
When have bankers lobbied for benefit cuts for the poor Undecided

.. pretty much every time they speak to a government.
Where do you think all the idiotic Fix-Insufficient-Spending-By-Cutting-Spending 'plans' came from?  Unlike us, the Americans managed to squeeze a (way smaller than necessary) stimulation package past their right wing and consequently came out of recession about 2 years earlier than us - incidentally, thereby increasing tax revenues and reducing benefit spending which meant they actually cut their deficit faster than us, too.
Of course, if and when our economy finally does get going and we get the deficit under control you can bet your bottom dollar the same bankers (and other right wing ideologs) will be pushing hard for tax cuts instead of debt reduction - banks do make a lot of money lending to governments, after all  Roll eyes
nanotm
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Re: Banks punishment

not sure about that
most of the cuts were to pointless quango's that sprung up massive budgets to essentially do nothing, not much has been done that truly affects the poor, the benefits cap only affect those who were getting overpaid by the state, the spare room rate reduction for allocation of housing allowance was always available to councils to use (most of them chose not to enact it) the government just made policy change that they will be used all the time regardless, and they removed the local housing office's ability to overlook the upper rate of LHA in some cases overpaying it by up to 15x in order to pay rent on some overpriced property.
if anything our government has done something far more positive because of its long term effects, the so called cost of living crisis (caused by the inability to budget income and outgoings in the chronically stupid) hasn't magically appeared in the last year its been there since john major lost the election, at which point wages for private and public companies were de-regulated, as were house pricing rules and mortgage lending rules.....
I don't even like the tories but as things go there better for the country at large than either of the other two, the socialist's would have us all penniless paupers beholden to the state for a cup of rice, the lib dems would want us all to sit down and work it out with lots of man hugs, at least the tories have a viable long term plan (even if it's not exactly nice it does affect everyone at the same rate)
the only way the tories could actually make things completely fair would be to raise national insurance threshold to 10k as well and then also change from a tiered taxation system to a flat rate of 30% of everything (5% NI & 25% IT) that way everyone will pay there fair share instead of this strange socialist notion that people who work harder should somehow pay twice as much and end up worse off than people that don't put in the effort to get the same wage packet.....
just because your paranoid doesn't mean they aren't out to get you
WTF
Grafter
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Registered: 14-09-2012

Re: Banks punishment

Quote from: nanotm
most of the cuts were to pointless quango's that sprung up massive budgets to essentially do nothing

That might be true of a miniscule proportion of the cuts but it hardly begins to explain the 20% across the board cuts last year or the 10% across the board cuts this year.
Quote from: nanotm
not much has been done that truly affects the rich

FTFY  Wink
Quote from: nanotm
so called cost of living crisis

You mean, the so called 5.5% drop in real income over the last 3 years - one of the biggest drops in income across europe?
That so called cost of living crisis?
Quote from: nanotm
(caused by greedy businesses and chronically stupid government policy)

FTFY Wink
Quote from: nanotm
the socialist's would have us all penniless paupers beholden to the state for a cup of rice

Who are these socialist of which you speak?  Undecided
Quote from: nanotm
the tories have a viable long term plan (even if it's not exactly nice it does affect everyone at the same rate)

I am utterly gobsmacked  Shocked
Could you be more wrong?
The Tories have slashed benefits for the poor while simultaneously slashing tax rates for the rich: in what conceivable way could that be described as affecting everyone the same?  Shocked
Quote from: nanotm
the only way the tories could actually make things completely fair would be to raise national insurance threshold to 10k

That may be one of the better ideas .. if you insist on cutting taxes.
Personally, I think it borders on criminal negligence to cut taxes when you're running a massive deficit and have record - and ever increasing - national debt.
Having said that, it does fit perfectly with the Tory's arse-about-face economic 'plan'.  As any fule kno you should increase spending to get out of recession and pay down debt in the good times: the complete reverse of what Gormless George is doing.
Quote from: nanotm
as well and then also change from a tiered taxation system to a flat rate of 30% of everything (5% NI & 25% IT) that way everyone will pay there fair share instead of this strange socialist notion that people who work harder should somehow pay twice as much and end up worse off than people that don't put in the effort to get the same wage packet.....

Err .. no we shouldn't.
Those who benefit most from society - that would be those with the money - should pay the most for it.
Like they did in the 19th century and before.
What could be less 'socialist' than paying for what you get?
Besides, the rich would never allow that kind of tax hike (remember Jimmy Carr's 2% tax rate, anyone?)  Grin
kmilburn
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Re: Banks punishment

We need to do somethings,  as financial penalties don't seem to be effective...
[quote=http://www.bbc.co.uk/news/business-25009683]
US bank JP Morgan Chase has agreed to a record $13bn (£8bn) settlement with US regulators for misleading investors during the housing crisis.

sounds good but..
Quote
Nonetheless, many investors seem to continue to think that the bank will emerge relatively unscathed from the fines.
"The share price is bumping up against a ten year high," Duff McDonald, author of a book on JP Morgan, told the BBC.