Anybody else catch this programme last night? It detailed the causes and effects of the banking crash from the first signs of collapse from the banks in Iceland to the mahoosive bonus payments and golden handshakes received by those responsible. If you can get to see the show on i-player or similar it makes very interesting and shocking viewing. The show described how the US banking industry used its influence to get the Government to change the law which prevented speculating on risky stocks using investors money. The new found financial freedom led to massive profits and as the legitimate investment opportunities levelled out the big banks started trading in junk like sub-prime loans. Whereas previously a bank wouldn't give someone with poor credit any sort of loan they started to throw loans and mortgages around to any Tom, Dick or Harry regardless of their ability to pay the loans back. This caused a gigantic housing bubble which went bang leading to the collapse of a host of banks, insurance companies etc. which the US Government (tax payers) had to step in to bail out. The show reported on massive fraud committed by the big banks, money laundering for Mexican drug barons, rife use of drugs and prostitutes by the Wall Street crowd and the lack of (more like complete absence of) any criminal proceedings to be taken against anyone as a result. Some bankers/investors lost their jobs, cut to the stock footage of people clearing their desks in the City, but the architects of the whole financial meltdown are still in power, still heading up these big banks and still being paid fortunes as advisors to the US administration. Quite literally a handful of people caused the hardest hitting global crisis there has ever been and they are still there getting $Billions in payments, stock options and bonuses. You listen to pricks like Nick Ferrari on LBC and he and his ilk think the only way to come out of the banking crisis is to trust in the bankers. That they deserve their bonus payments and we should all be grateful that there are such experts around to help re-build our shattered economy. Well he can be put at the front of the queue to pucker up and kiss my ar*e!!!! Merchant Bankers. My thoughts exactly.
I worked for a bank mate when it all went tits up. In our company, we lost over 40,000 staff to redundancy, whilst the prick who got us into the mess was "let go" with a nice settlement of £2million. Not to mention the £7.8 million (roughly nowadays) in shares that he owns in the company. Some of the folk let go had worked there for over 20 years, and were on salaries between £11k and £14k. Not exactly the fat cat bankers, and yet people still felt the need to dish out the abuse in branches all over the country to these same folk...
http://www.bbc.co.uk/iplayer/episode/b0183l0t/Storyville_20112012_Inside_Job/ But we're all in this together!
A lot of crucial evidence from the wall street fraudsters was on hard drives at the IRS office in WT7, it was all pulverised ...
Russel Peters said it on 8 out of 10 cats apparently he has a physicist mate who says the levels of radiation are that high/dense that it would be impossible to survive
Naw, the moon disny, you're talking about the Van Halen belt, which you have to rock on through to get to the moon.
