Reply to: Is the US Bailout a Fraud ?

[Central-Scrutiniser]

Observation : Social Econmoics - Excess and Rewarding Failure


Former HBOS boss on £60,000 a month from Lloyds to help in takeover



THE former chief executive of HBOS has been given a lucrative consultancy role with Lloyds TSB.

Andy Hornby will take home a reported £60,000 a month to assist in the takeover of HBOS after the government's nationalisation of several High Street banks.

News of Hornby's appointment – and the massive salary he is being paid – provoked an angry response from MSP Alex Neil.

In a statement today, the Central Scotland MSP said: "If this is true, it stinks to the high heavens. Hornby is the chief negotiator for HBOS shareholders in the proposed takeover by Lloyds TSB.

"How can HBOS shareholders be sure that Hornby will try to get them the best deal in the takeover talks if he is getting paid such a huge sweetener by Lloyds TSB.

"I am writing to the Financial Services Authority to ask for an immediate enquiry.

"There is a clear conflict of interest here which calls into serious question Hornby's ability to meet his statutory judiciary duties to HBOS shareholders

[DiscoStu]

"Gordon Brown has vowed to crack down on the culture of greed in the City"

But GS is American? What can Gordo do? Apart from talk nonsense that is.....

He's trying for the entrance exam for the AtW economics club.

[Pondlife]

Linky? (or it's not true)

[BrilloPad]

Observation : Deception and Fraud : Welfare for City Executives

Goldman Sachs is on course to pay its top City bankers multimillion-pound bonuses - despite asking the U.S. government for an emergency bail-out.

The struggling Wall Street bank has set aside £7billion for salaries and 2008 year-end bonuses, it emerged yesterday.

Each of the firm's 443 partners is on course to pocket an average Christmas bonus of more than £3million.

The size of the pay pool comfortably dwarfs the £6.1billion lifeline which the U.S. government is throwing to Goldman as part of its £430billion bail-out.

As Washington pours money into the bank, the cash will immediately be channelled to Goldman's already well-heeled employees.

News of the firm's largesse will revive the anger over the 'rewards for failure' culture endemic in the world of high finance.

The same bankers who have brought the global economy to its knees seem to pocketing the same kind of rewards they got during the boom years.

Gordon Brown has vowed to crack down on the culture of greed in the City as part of his £500billion bail-out of the UK banking industry.

But that won't affect the estimated 100 London partners working at Goldman Sachs's London headquarters.

The firm - known as Golden Sacks for the bumper bonuses it pay its top bankers - is expected to cut the payouts by a third this year. However, profits are falling much faster.

Earnings have plunged 47 per cent so far this year amid the worst financial crisis since the Great Depression.

"Gordon Brown has vowed to crack down on the culture of greed in the City"

But GS is American? What can Gordo do? Apart from talk nonsense that is.....

[Central-Scrutiniser]

Observation : Deception and Fraud : Welfare for City Executives

Goldman Sachs is on course to pay its top City bankers multimillion-pound bonuses - despite asking the U.S. government for an emergency bail-out.

The struggling Wall Street bank has set aside £7billion for salaries and 2008 year-end bonuses, it emerged yesterday.

Each of the firm's 443 partners is on course to pocket an average Christmas bonus of more than £3million.

The size of the pay pool comfortably dwarfs the £6.1billion lifeline which the U.S. government is throwing to Goldman as part of its £430billion bail-out.

As Washington pours money into the bank, the cash will immediately be channelled to Goldman's already well-heeled employees.

News of the firm's largesse will revive the anger over the 'rewards for failure' culture endemic in the world of high finance.

The same bankers who have brought the global economy to its knees seem to pocketing the same kind of rewards they got during the boom years.

Gordon Brown has vowed to crack down on the culture of greed in the City as part of his £500billion bail-out of the UK banking industry.

But that won't affect the estimated 100 London partners working at Goldman Sachs's London headquarters.

The firm - known as Golden Sacks for the bumper bonuses it pay its top bankers - is expected to cut the payouts by a third this year. However, profits are falling much faster.

Earnings have plunged 47 per cent so far this year amid the worst financial crisis since the Great Depression.

[AlfredJPruffock]

So - was it a fraud ??

Yep -I think it was !!!

Cos - if you were so smart - you'ld be rich too !!!

[AlfredJPruffock]

Building societies worked exactly like that before greedy bastards from the City turned them into "banks" to later ruin them.

http://finance.yahoo.com/q/bs?s=LYG&annual

Yep - you are certainly correct with that statement.

[AtW]

In fact, the more you post, the more apparent it is how little you know...

Quite. Only those slick City types know everything about finance - they are simply brill.

[Bob Dalek]

So, Squirrel Brain, if he used www.crookednumpty.com, he'd be legit?

[DiscoStu]

Of course I know about derivatives. I've been talking about this for a while now - specifically saying that any leveraging (above 1) should be illegal.

The fact you've been talking about this for a while doesn't mean you know anything about it. In fact, the more you post, the more apparent it is how little you know...

[AtW]

No bank has EVER worked like that.

Building societies worked exactly like that before greedy bastards from the City turned them into "banks" to later ruin them.

http://finance.yahoo.com/q/bs?s=LYG&annual

[sasguru]

Of course I know about derivatives. I've been talking about this for a while now - specifically saying that any leveraging (above 1) should be illegal.

If banks needs to loan money as a morgage they should use their deposits less %-tage put into reserves. So if bank gets £100k deposits they can use £90k for loans. In the last few years they would take £100k deposits in and use leverage to loan out £500k or even more (especially for hedge funds).

No bank has EVER worked like that. We've been thro this before.
You know atw I'm beginning to realise you really are thick.

[AtW]

Are you really complaining about his having a Yahoo address when your supposed "business" website has

I am pretty sure my business actually had more clients paying for my services than yours. Do you actually have a business? You are permie who wastes company money posting more than me on this site.

[AlfredJPruffock]

Of course I know about derivatives. I've been talking about this for a while now - specifically saying that any leveraging (above 1) should be illegal.


Aye Atw

My Dear esteemed Friend -

Life is very short and there's no time
For Fussing and Fighting my Friend
So I will ask you once again

Think of what you're saying.
You can get it wrong and still you think that it's all right.

Think of what I'm saying,
We can work it out and get it straight, or say good night.

We Can work it Out

[sasguru]

Are you really complaining about his having a Yahoo address when your supposed "business" website has (had?) spelling errors and looks like it was designed by a 5 year old? Now I've heard it all.
Words fail me.