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Roadstoruin

Listed below are comments made by Roadstoruin between Friday, 6th February 2009 and Tuesday, 3rd March 2009.

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Clawing back Sir Fred's pension 5:25pm on 03 Mar 2009 The Government can strip him of his Knighthood (and Archer at the same time). And if they really wish to claw money back from the super rich then 100% tax any pension over £250,000, that way it caps Goodwins and all the rest of the sharks who have done the same thing over the last ten years OK so some innocents will suffer but hey thats life baby and £250,000 a year pension is plenty plenty for anyone...
The Goodwin pension questions 3:26pm on 26 Feb 2009 Keep uncovering this stuff - The government has got to either take some very quick and unpleasant decisions or there will be civil action. Take to the streets Goodwin is the tip of the iceberg of the big boys club, they are all in it..........
RBS: big losses, big bailout 08:16am on 26 Feb 2009 You have got to hand it to Goodwin he is the textbook on how to look after number one, he must be laughing at everyone.

Pay yourself loads whilst the going is good then when it all goes wrong and the business is literally going bust the next day (and you would loose your mighty pension) get the Government to guarentee the gross pension you awarded yourself when times were much better.
Beware the City merry-go-round 4:42pm on 12 Feb 2009 I can never remember a politician from either side admitting to anything negative............. this is the basic trouble with power it corrupts everyone. Power and honesty are mutually exclusive.
Why Sir James Crosby resigned 08:27am on 12 Feb 2009 KPMG have a case to answer in this. They had a conflict of interests and were not independent and should not have been the ones looking into the Moore case. As the auditors of HBOS they knew which way their bread was buttered (and we know what auditors are ultimately the servants of those who pay their bills, remember Aurther Anderson and their employer Enron).
"I'm sorry the iceberg was there" 1:51pm on 11 Feb 2009 Brilliant analogy Mr Robinson very well put.

And as we know the Captain of the said ship went down with it, but the Chairman of the White Star Line did not, he survived in one of the lifeboats............but was shunned by society from thence forth.

So to, one may say, will be the publics judgment on bankers.....the public are angry and probably that anger will increase, not dissipate, as this crisis deepens and deepens.
The questions for the former bank bosses 10:26am on 10 Feb 2009 Post 2

You are wrong to liken bankers earnings with other high earners. Bankers do not have totally exceptional gifts, they should not earn so excessively (this is proven as there are thousands and thousands of bankers who have peen paid million pound plus bonuses).

The other highest earners are few and far between in their feilds.

They have been paid because they earn the banks so much - but their employers forgot it was a one way bet for the employee - hence the mess we are in. Hence it HAS to change!
The case for bonuses 09:12am on 10 Feb 2009 Varley is a politician - he says the right things but they are transparent lies to hide where the real bonuses are going (traders and huge risk takers). No Mortgage adviser has hit a single target this year - so they aint getting a bonus anyway in fact many many are out of work - what a totally facile comment he made to you in that interview.
Are Barclays' profits irrelevant? 09:20am on 09 Feb 2009 We need to remember that all through time many a profitable business has gone bust whilst still making huge audited profits.

Over £2 billion of Barclays announced profits are due to the experts valuing the part of Lehmans Barclays bought, at £2 million higher than Barclays paid - well thats what got us all in this fine mess.

You do have to put a figure on it for sure otherwise when things turn shareholders are ripped off the other way round. But in deflationary times look to the flows of real money.

Its cash flow that counts, real cash not paper profits.

This is why the excessive bonus culture came around, its based on paper profits, not earnings of hard cash.

There is a case of the market having to produce two p/l accounts, one of pure cash and one of capital gains profits, I know all the accountants out there will say the information is there if you look, but we need to headline these together (so journalists need training too) as it would then be more transparent to the non accountant public.
Bonus buck stops with Brown 09:22am on 06 Feb 2009 Shock Denial Anger Acceptance, thats the sequence of post crisis human feeling.

We (the masses who have been watching the financial meltdown from afar) have been in denial for a year. Its hitting home now to normal people and WE ARE NOT HAPPY with our leaders continued greed in face of adversity.

Summer of discontent is coming up, Obama can make bold steps because he was not part of the cause, Brown will keep tripping over his past and will do so on this issue also.

We will be out on the streets, the fat cats can get away with it in good times, they are too greedy not to want it to continue but those of us living on £15,000 - 30,000 a year thats the vast majority of the country will not stand for it in bad times.

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