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Mon Jan 14, 2013, 03:47 PM

 

Goldman Sachs bankers to reward themselves a staggering £8.3billion in bonuses

Veronika Padberg ‏@CarryCandy

RT @BaburRealer Goldman Sachs bankers to reward themselves a staggering £8.3billion in bonuses. http://bit.ly/VaEl6e
Retweeted by fr0g5

http://www.dailymail.co.uk/news/article-2261906/Goldman-Sachs-bankers-reward-staggering-8-3billion-bonuses.html

Britain’s army of bankers will re-ignite public fury over lavish pay rewards as staff at Goldman Sachs are expected to reward themselves £8.3 billion in bonuses on Wednesday.

The American investment bank, which employs 5,500 staff in the UK, will be the first to unveil its telephone number-sized rewards – an average of £250,000 a person – as part of the latest round of bonus updates.

The increase, up from £230,000 last year, comes as British families are still struggling to make ends meet five years after banks brought the economy to the brink of meltdown.

snip

At taxpayer-backed Lloyds Banking Group, which is expected to make a loss this year, its boss is likely to be entitled to a multimillion-pound bonus.

(What DUer called them a "Wunch of Bankers" a bit back? More at the link)

6 replies, 796 views

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Reply Goldman Sachs bankers to reward themselves a staggering £8.3billion in bonuses (Original post)
Fire Walk With Me Jan 2013 OP
muriel_volestrangler Jan 2013 #1
Catherina Jan 2013 #2
Scuba Jan 2013 #3
hobbit709 Jan 2013 #4
Fire Walk With Me Jan 2013 #5
jsr Jan 2013 #6

Response to Fire Walk With Me (Original post)

Mon Jan 14, 2013, 05:05 PM

1. 'Merchant banker' has been Cockney rhyming slang for 'wanker' for years

for good reason.

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Response to Fire Walk With Me (Original post)

Mon Jan 14, 2013, 05:18 PM

2. the poverty caused by the bad influence of the English bankers on the Parliament...

Everyone knows that the American colonists revolted largely because of taxation without representation and related forms of oppression by the British. See this and this.

But - according to Benjamin Franklin and others in the thick of the action - a little-known factor was actually the main reason for the revolution.

To give some background on the issue, when Benjamin Franklin went to London in 1764, this is what he observed:

When he arrived, he was surprised to find rampant unemployment and poverty among the British working classes… Franklin was then asked how the American colonies managed to collect enough money to support their poor houses. He reportedly replied:

“We have no poor houses in the Colonies; and if we had some, there would be nobody to put in them, since there is, in the Colonies, not a single unemployed person, neither beggars nor tramps.”

In 1764, the Bank of England used its influence on Parliament to get a Currency Act passed that made it illegal for any of the colonies to print their own money. The colonists were forced to pay all future taxes to Britain in silver or gold. Anyone lacking in those precious metals had to borrow them at interest from the banks.

Only a year later, Franklin said, the streets of the colonies were filled with unemployed beggars, just as they were in England. The money supply had suddenly been reduced by half, leaving insufficient funds to pay for the goods and services these workers could have provided. He maintained that it was "the poverty caused by the bad influence of the English bankers on the Parliament which has caused in the colonies hatred of the English and . . . the Revolutionary War." This, he said, was the real reason for the Revolution: "the colonies would gladly have borne the little tax on tea and other matters had it not been that England took away from the colonies their money, which created unemployment and dissatisfaction."


http://georgewashington2.blogspot.com/2009/06/other-reason-for-american-revolution.html

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Response to Fire Walk With Me (Original post)

Mon Jan 14, 2013, 05:41 PM

3. There's a reason they're called "banksters".

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Response to Fire Walk With Me (Original post)

Mon Jan 14, 2013, 05:46 PM

4. The only bonus they deserve is a visit to the good doctor's invention.

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Response to Fire Walk With Me (Original post)

Tue Jan 15, 2013, 12:43 PM

5. Kick

 

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Response to Fire Walk With Me (Original post)

Tue Jan 15, 2013, 12:45 PM

6. Well, bankstering is hard work.

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