Bankers certainly know how to pay themselves even if they don't know how to run banks. And once again we are being told to lay off the big bankers and their bonuses. Apparently, even though the men and women who bust the world's financial system, did it whilst receiving eye watering billions of dollars, we still need more of the same. You see if we don't pay these people vast amounts of money they may leave. Lets hope they do. Then we may end up with a system which works and protects pensions and savings.
The truth is that there has been a massive bean feast at our expense. Not only bankers and traders but company executives have had their noses in the trough, paying themselves ludicrous amounts of money. But I know that my old granny, bless her, could have run a bank better than that - its not rocket science - and she wouldn't have expected to be paid millions either. Recently on BBC 2 there was a programme where they took a group of people and gave them eight weeks to become city traders. Here is the blurb:
Eight ordinary people are given a million dollars and a fortnight of intensive training to run their own hedge fund. Hedge fund manager Lex van Dam wants to see if they can beat the professionals
It was naff TV, boring really - lots of nose picking and looking a flashing lights on screens, but guess what happened? At the end of the series at least half of them had done OK. From what I can remember only two were outright failures. You see being a trader isn't rocket science either.
What has been going on is a racket. One which those who benefited have ended up costing ordinary people millions in lost jobs, houses and pensions, not to mention the harm to future generations. We have been shafted. The perpetrators should be made to pay compensation by handing back most of the billions they pocketed. Those who committed fraud, and there must be some, should go to gaol. There is absolutely no way that we should stand for any return to business as usual. We must do all we can to prevent it. Support Put People First and join the demo on 28th of March if you can.