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London Mayor: The barefaced greed of bankers and their bonuses beggars belief
The Telegraph ^ | 10/19/2009 | Boris Johnson

Posted on 10/19/2009 7:22:49 AM PDT by SeekAndFind

If you pressed a rifle into the hand of the man in the street and asked him to choose between two targets – an MP or a banker – who do you think would get the bullet? Tricky, eh? It is hard to know which of these two formerly respectable professions has fallen further in public esteem.

Some people might hesitate, like Buridan's ass, the rifle barrel weaving indecisively between two such luscious hate-objects. Most people would simply call for two bullets.

But then let me ask you a slightly different question. Which of the two species has managed to steer itself most effectively through the crisis? Which type of cockroach has scuttled through the nuclear blast of public disapproval? On the face of it, there is an obvious answer, and it is getting more blatant by the day.

Most of the MPs I know seem to be in a state of nervous collapse. Some of them are on suicide watch. Some of them face the task of sacking their wives and selling the house, or possibly the other way round. Some face penury. Never has Parliament been subjected to such protracted humiliation at the hands of the people.

Then look at the bankers, the bankers whose high-rolling risk-taking triggered the recession that has so exacerbated public rage at MPs. The bankers seem to be waltzing off with a song on their lips and their hands in their pockets – at least, their hands would be in their pockets if they were not stuffed with money. And when I say stuffed, I mean bulging, bursting, ballooning with the biggest bonuses you ever saw.

(Excerpt) Read more at telegraph.co.uk ...


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: bankers; greed

1 posted on 10/19/2009 7:22:49 AM PDT by SeekAndFind
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To: SeekAndFind

The MPs were stealing the public blind with falsely reported expenses.

I thought Boris was supposed to be conservative?


2 posted on 10/19/2009 7:28:01 AM PDT by y6162 (uish..)
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To: SeekAndFind

The simple solution would be to tie them back to back,
then shoot one in the forehead...

Myself, I would shoot the politician, the banker
has only been doing what the government wanted him
to do.
As far as getting a bonus, what is he going to do
with it? Put it under his mattress? No, it will come
back to the economy. When a politician gets it, it
just withers away, or gets spent on building more
government.


3 posted on 10/19/2009 7:32:23 AM PDT by tet68 ( " We would not die in that man's company, that fears his fellowship to die with us...." Henry V.)
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To: y6162

I don’t see a dichotomy here. There are greedy MP’s and there are greedy bankers. Boris Johnson focuses on the later. We already know about the former.


4 posted on 10/19/2009 7:33:13 AM PDT by SeekAndFind (wH)
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To: SeekAndFind
Wall St. Is Winning: Elizabeth Warren "Speechless" About Record Bonuses


5 posted on 10/19/2009 7:42:53 AM PDT by blam
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To: SeekAndFind

Umm..bankers are supposed to be greedy, that’s what they get paid for.

“The point is, ladies and gentleman, that greed — for lack of a better word — is good.

Greed is right.

Greed works.

Greed clarifies, cuts through, and captures the essence of the evolutionary spirit.

Greed, in all of its forms — greed for life, for money, for love, knowledge — has marked the upward surge of mankind.

And greed — you mark my words — will not only save Teldar Paper, but that other malfunctioning corporation called the USA.

Thank you very much

Gordon Gekko, Wall Street


6 posted on 10/19/2009 7:43:12 AM PDT by y6162 (uish..)
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To: y6162
In a free market, greed cancels itself out. Both the buyer and the seller are greedy, and the competition on both sides is greedy as well.

Equal amounts on both sides of an equation cancel out.

Screaming about "greed" doesn't really say anything at all, since it's a common vice among all men, not just bankers.

7 posted on 10/19/2009 7:46:37 AM PDT by TChris (There is no freedom without the possibility of failure.)
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To: SeekAndFind
"the bankers whose high-rolling risk-taking triggered the recession that"

This frequently repeated lie has now became self-evident truth that requires no justification. When will this bubble of lies burst? Will we be on a hunt for those responsible for this brainwashing?

The crisis was created by the GOVERNMENT (not market) FAILURE in the form of the Community Reinvestment Act that MANDATED bad loans that could never be repaid.

8 posted on 10/19/2009 8:09:42 AM PDT by TopQuark
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To: y6162
Gordon Gekko, Wall Street

The guy went to jail and has been recently released. Wall Street II has just been filmed with Michael Douglas reprising his role. Some people never learn.
9 posted on 10/19/2009 8:25:21 AM PDT by SeekAndFind (wH)
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To: SeekAndFind

On the other hand, confiscating vast amounts of money from the public and distributing it to your political allies is okay.


10 posted on 10/19/2009 8:34:47 AM PDT by popdonnelly (Yes, we disagree - no, we won't shut up - no, we won't quit.)
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To: SeekAndFind

Gordon Gekko, Wall Street

He went to jail for insider trading, not greed.


11 posted on 10/19/2009 8:55:17 AM PDT by y6162 (uish..)
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To: y6162
He went to jail for insider trading, not greed.

Isn't insider trading a consequence of acting on your greed ?
12 posted on 10/19/2009 9:00:42 AM PDT by SeekAndFind (wH)
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To: SeekAndFind

“Isn’t insider trading a consequence of acting on your greed ? “

Yes. But Capitalism is based on enlightened self interest and making money is a good example of self interest in action. Greed, the obsession with riches while extreme, is not illegal, yet.

Not all bankers are guilty of insider trading.


13 posted on 10/19/2009 9:08:07 AM PDT by y6162 (uish..)
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To: y6162
He went to jail for insider trading, not greed.

This sentence actually makes sense to you?

Heaven help us!

14 posted on 10/19/2009 9:51:17 AM PDT by Publius6961 (Â…he's not America, he's an employee who hasn't risen to minimal expectations.)
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To: Publius6961

“This sentence actually makes sense to you?”

Yes, greed is not illegal, yet. A person can be greedy and not a law breaker.

I find that people who object to “greed” are Marxists.

I am pro Capitalism. There’s nothing wrong with making as much money as you can.


15 posted on 10/19/2009 9:56:45 AM PDT by y6162 (uish..)
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