Wow, how do you sleep?
A little on the simplistic side but shouldn't these bankers pay back a couple of years of their bonus payments before they even look to the rest of us to bail them out?
They've made the mistakes, they've previously earned loads of spondooli, time for them to payback first before the depositors money is safe guarded as a last resort.
Wat
We need to know what the Swiss are doing. They never miss a trick, regardless of what is happening.
You will remember that World War Two was a non-event for the banking system, nothing changed. The Swiss were bankrolling the Nazi Party and this little country managed to come out of WW2, three times richer than when they went into it.
If UBS is a bit short of readies, which some reports would have us believe, the Swiss will make sure it comes back smelling of roses.
a-tracy
Ah, if only those bankers would recognise their public duty...
But comfort yourself with this thought- many of the senior bankers are not paid their bonuses in folding money, but in deferred stock. And that stock is now worth a great deal less than it was last summer (as the bankers at Bear Stearns).
It's the shareholders who have to bear the real pain. And next time, they need to be a lot more careful about reining in their gung-ho managers.
Acorn-
Such cynicism in one so young.
So let's see, how would it work here...
Governments in the US, the UK, Germany, France etc etc all enact tough new regs that make it much more difficult for their banks to run these off-balance sheet wheezes. But the Swiss don't.
UBS and CS thereby get a huge advantage over other banks, HSBC redoms to Zurich, and Bob's your uncle.
Yes, I see what you mean.
Didn't Gordo reduce the Cash Ratio thus allowing banks to turn NIBELS into high-yield investments ?
Obviously the Pension Funds should be forced buyers of Junk Bonds from banks - that's how the system works isn't it ?
After all Gordo liberated me from Equitable Life and now I am thinking about writing a novel as I track down where the 226 With Profits, Equity Linked and other funds were syndicated off to....
This is a really exciting time to be alive and watching personal Net Worth being re-allocated in the Grand Liability Blender that is Casino-Capitalism
A business contact pointed out to me another factor: banks are about to see another source of liquidity dry up as interbank and bank to credit card account settlement moves to overnight - they will then not have our money to play with for 3 days.
Commenting by HaloScan
