5000 bankers given the boot

[SandyDown]

An interesting thread....it shows how short sighted some people can be.

A recent report showed the City generates 18% of the UK's GDP, yet you are all laughing that it is having problems. and that people are loosing their jobs, 13/14 months the credit crunch started, it took about 8/9 months to start to filter through to the rest of the uk economy, houses have lost value, business have gone under, people have lost their jobs. Now you are all laughing that the city has just had another down turn. This will in turn hit the rest of the UK economy.

Is this what you are really hoping for?

As for the talk of Porsche's remember that th majority of city workers don't get those huge packages. A junior in settlements can get about £30k pa with a bonus of about £2k now while this may sound high, it is worth remembering the cost of living is also very high....so this person doesn't have a job....

I personally don't wish misery / redundancy on anyone...

Who is laughing?? and who is wishing misery for others , please don't accuse us all because one or two people made some foolish comments- most of us realize what you are saying and have been through downturns before... we all saw the signs before, Lehman fall is reminiscent of Enron's fall - not the same reasons, but it will have its effect on the market and we know it.... anyone remembers who was next after Enron? was it Marconi?

[aceboy]

Who is laughing?? and who is wishing misery for others , please don't accuse us all because one or two people made some foolish comments- most of us realize what you are saying and have been through downturns before... we all saw the signs before, Lehman fall is reminiscent of Enron's fall - not the same reasons, but it will have its effect on the market and we know it.... anyone remembers who was next after Enron? was it Marconi?

Sorry, I generalised......

I have also lived through this before....

[ace00]

Sept. 16 (Bloomberg) -- Barclays Plc, the U.K.'s third- biggest bank, is in talks to buy assets from bankrupt Lehman Brothers Holdings Inc. two days after abandoning plans to acquire the entire securities firm.

Perhaps a silver-lining (from a UK perspective) ?

[SandyDown]

Wow - Barclays really do know when to go for the kill. They should have a good bargain!!

[stackpole]

I personally don't wish misery / redundancy on anyone...

Except Labour politicians, surely...

[HairyArsedBloke]

Except Labour politicians, surely...

Nope. We wish painful death on them.

[eliquant]

Sorry, I generalised......

I have also lived through this before....

yes I've lived through this before and it only seems like yesterday that the like of 'pF' and 'Janek' etc were on here complaining about the situation ... the last recession ended end of 2002 .. not really 'that' long ago and I remember it well.

I was stupid enough to hold on for 10 months or so waiting for my next contract almost reaching the end of my reserves, I took a nightmare permie job and rode out the tail end of the recession (for too long). Then I entered contracting and although more lucrative it didn't afford me an amazing life style.

Now we are here again but this time I'm not sitting on the end of a phone waiting for agents to get me a job its time for plan b to take control of things I reckon because in 6 years time, the same will occur .. I'll be older and I'll be out on the streets with more resposibilities and no prospects or way back into it.... so plan b it is then.

[swamp]

I'm certainly not laughing at the (former) Lehman employees.

But I don't exactly remember many people shedding any tears for us in the dotcom crash 2001 - 2003.

[SandyDown]

I'm certainly not laughing at the (former) Lehman employees.

But I don't exactly remember many people shedding any tears for us in the dotcom crash 2001 - 2003.

All to do with Impact... the fall of dotcom only affected the IT market (within reason), fall of financial institutions (not only lehman, remember all them mortgage companies)affects the whole economy,a dn almost every man on the street

[DaveB]

Sept. 16 (Bloomberg) -- Barclays Plc, the U.K.'s third- biggest bank, is in talks to buy assets from bankrupt Lehman Brothers Holdings Inc. two days after abandoning plans to acquire the entire securities firm.

Perhaps a silver-lining (from a UK perspective) ?

Barcleys are after the US assets, the Broker-Dealer and Meger-and-Aquisistions operations as they were the ones making money. They arn't going for the UK business.