Bright and sunny day, but quite cold in the brisk northerly wind. The thin layer of snow may melt in the afternoon sun, and I do think we're having the best weather in the country. I do not envy those in England who may find themselves in a 12 to 15 degree frost overnight tonight. More snow is on its way to the southern parts of the UK over the weekend, so this cold winter is not over by a long shot.
In recent days, there has been ongoing coverage in the news media about the credit crisis and particularly bonuses for bankers. I think it is a complete outrage for bonuses to be paid to bankers anywhere in the world, for adopting the policies that have led to the current crisis. They are the ones that were selling debts, in other words air, between each other, getting rich in the process. For instance, the Royal Bank of Scotland, currently 70% in public ownership, says it has to pay the bonuses in order to retain its top bankers. Methinks they can do without those bankers if they caused the bank to be taken into partial public ownership. I have also noticed that the banks continue to rake in money from their customers in order not to have to change their modus operandi.
A few months ago, news emerged of a so-called City fat cat taking his own life. Whilst deploring suicides for whichever reason, my sympathy wore thin when I read that this particular chap was holding down a lavish lifestyle, throwing parties in sumptuous locations across Europe at very frequent intervals. It struck me that he probably was unable to cope with the loss of earnings and therefore a loss of face for not being able to hold down said lifestyle.
For as long as banks and other financial institutions do not realise and own up to the fact they are mostly responsible for the current financial crisis, this same crisis will not be resolved any time soon. A complete overhaul in attitude is required, not just on the part of the banks. People do not seem to remember that when you borrow money it also has to be paid back at some stage. Creditcards, storecards and the like are all very nice and convenient, but you don't see you are spending money - until the day the final demand comes in.
I do agree Guido ,I dont/wont spend what I dont have ,bring back the little brown envelope ie wage packet ,when it was empty there was no more money ..love Jan xx
ReplyDeleteI agree.....the bonuses are outrages,as you stated...changes need to happen...and will I hope, take care....Joyce
ReplyDeleteIt is much warmer and melting is going on but no sunshine for us. Promises of rain later on today.
ReplyDelete50 degrees here, loving the hint of spring.
ReplyDeleteThe shame is that there is no legal way to hold those responsible accountable.
How I agree Guido, Bring back the day when people took responsibility for what they did and do...I wonder when it all started to go wrong...but one thing is for sure paying bonuses for doing cr-p work is not on, and they MUST be brought to book or it will go on and on and on..this is happening in all fields of work...there just does not seem to pride in people these days..it seems as if you are pleased with yourself it is something to be ashamed of. Down here even at school they are not allowed to be at the "top of class" or first in school races... I do really fear for the future
ReplyDeleteLove Sybil xx
It did my heart good when Obama publically scolded the banks giving CEOs such outrageous bonuses and perks despite the fact that some are even taking bailout money. Everyone seems afraid to try to curb these excesses including those under them. They act like these CEOs wave some magic wand and the money keeps coming. I think they thought to stave off the crash by hiring CEOs who promised to fix everything with their expertise and they are still afraid to curb them. I thought well finally Obama is speaking out like a person with common sense asking what in the world is this kind of behavior? Whew.
ReplyDeleteWe had a wonderful high of 58 today..it was lovely for a few hours.
ReplyDeleteYou are right on with your banking/bankers thoughts.