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Author Topic: The Late Sir Fred RBS  (Read 4281 times)

polaris

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The Late Sir Fred RBS
« on: January 31, 2012, 08:44:29 PM »


Well, it seems that the system can bite back...

He not dead, but Socially so anyway.

I just hope that the People catch up with him... he affected me in a roundabout sort of way I suppose, but I am aware of others that were finished off permanently by him - and were severely damaged as a result - I now, because I had to guide some of them to some sort of sanity.

That man has a very great deal to answer for... moreso than many might realise.

If the block or gallows was still about, I would have no hesitation in sentencing... he brought many to their demise, and what he did slightly less is just as greatly unforgivable.

His illustrious 'follower' has of course 'fallen-on-the-sword' by forsaking his 1M 'bonus'... I wonder why... do all these people take us for fools or what!!!!!!!!!!!!!!!! Don't try and tell me he didin't know this already {-) Who is playing off whom O0 {-) >>:-( <*<
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irishcarguy

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Re: The Late Sir Fred RBS
« Reply #1 on: February 01, 2012, 06:04:06 AM »

There is more than him needing to answer some questions, three hundred trillion dollars missing & not one of the crooks that caused it has been brought to justice, in fact the bonuses are back in full swing, & the real  and ultimate insult is asking, no actually DEMANDING the working stiffs of the world pay for the whole mess. There is no justice, I can see big trouble coming in the not too distant future & I would not want to be one of the fat cats that caused it when it comes, Mick B.
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Mick B.

FsASTSyd1

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Re: The Late Sir Fred RBS
« Reply #2 on: February 01, 2012, 07:53:15 AM »

Mick B.  How true. I take it that your figure is just for your side of the pond. Although the Bankers seem to have leapt on to a gravy train that they ought to have known was going to crash into the buffers sooner rather than later. The "Politicians" who in all likelyhood blindly followed them without a thought and borrowed countries into debt that will take a lifetime or two to pay off,sorry, longer because arn't they still borrowing, are just as much at fault. How many of them will we or should we have already seen locked up for their failings, whats the betting on less than one?
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nhp651

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Re: The Late Sir Fred RBS
« Reply #3 on: February 01, 2012, 08:28:17 AM »

you'll never see this happening lads, because this corrupt government is full of failed bankers. {:-{ {:-{ {:-{ >>:-( >>:-( >>:-(
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ACTion

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Re: The Late Sir Fred RBS
« Reply #4 on: February 01, 2012, 09:05:05 AM »

three hundred trillion dollars missing & not one of the crooks that caused it has been brought to justice, i
The sad fact is that it was never there in the first place. That insane valuation was based on the bank's own balance sheet and included assets made up of a lot of worthless US sub-prime mortgages hidden away in (mis-described) Grade A bonds. These were invented and unloaded onto the market by unscrupulous US bond dealers who did it to turn what were actually liabilities into commission for themselves - which unfortunately was paid with real money. Nice one, guys!
Goodwin became infatuated/obsessed with the idea of running the biggest bank in the world - he started life as a lowly small-town accountant - and acquiring all and any 'assets' he could get hold of seemed to be the fastest way of doing that. I was amazed when tiny RBS managed to buy High Street No2 Nat West. The wheels fell off when he railroaded the RBS board into buying a Dutch bank and someone spotted that it wasn't worth a tin dime. A subsequent 3% fall in the market finally did for Fred the Shred and his bank of cards. It was a bit like becoming the world's largest collector of art but not knowing or caring that all of your paintings are fakes.
As regards Mr Hester and his unspendable salary and bonus, it's true that he is among the lowest paid CEOs in the City and may well be very good at his job - except that the share value of RBS has tumbled from 65p to 28p on his watch and his "performance indicator" to trigger that 80% bonus was simply to lend more money to small businesses. When I was in public service the maximum performance bonus available was about 2% of salary and you had to do your job with your nose stuck firmly up the boss's fundament 24/7 to get that.
At the end of the day these "highly responsible and valuable" CEOs are at the head of organisations which pay their investors 0.5% interest and lend their money out at 6%. "I could do dat - gizza job, mister!"
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malcolmfrary

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Re: The Late Sir Fred RBS
« Reply #5 on: February 01, 2012, 09:26:09 AM »

I suspect that the trillions of dollars weren't actually lost because they never existed in the first place other than as a figment of the bankers' and governments' imaginations.  Its what happens when debt is traded as a commodity, and creation of debt is seen as an achievement and a desirable goal.  Add to that there was a total lack of checks and balances in the debt selling market, with bonuses being handed out for successful selling of loans, whether or not there was any chance of them ever being repaid.  A recipe for disaster created for the benefit of financiers, who having done untold damage will have safely skimmed their cut off the top, aided by their buddies the politicians, who will have done exactly as they were told by their paymasters.
In one of my past jobs I had to do the paperwork following up the trail of destruction left by kiosk bandits.  What struck me there was that the perpetrators didn't care how much it would cost to repair the damage they did to get a few quid into their pockets.  Much the same with our establishment.

"While you were typing, Dave said much the same"
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Colin Bishop

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Re: The Late Sir Fred RBS
« Reply #6 on: February 01, 2012, 10:04:53 AM »

Dave has got it right. All these astronomical salaries and 'bonuses' for CEOs and directors of large companies (not just bankers) are supposed to be justified by the 'added value' that they bring to their organisations. Yet the stock marrket is at the same level as it was five years ago so where is the added value?

Colin
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Circlip

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Re: The Late Sir Fred RBS
« Reply #7 on: February 01, 2012, 10:48:12 AM »

Another victim of the "Blame" culture.

  Regards   Ian.
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ACTion

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Re: The Late Sir Fred RBS
« Reply #8 on: February 01, 2012, 11:35:18 AM »

Another victim of the "Blame" culture.

  Regards   Ian.

Save your sympathy not for this greedy slimeball with his seven-figure pension but for all the RBS employees whose jobs he shredded and all the RBS investors who lost their savings. Save it for the millions of victims of the austerity measures brought in to pay for the whole debacle. Save it for the thousands of small businessmen and women who now can't obtain the credit needed to keep their enterprises afloat (more jobs lost). Save it for the young people who can't get a job for love nor money, and those who can but are unable to save the huge deposit now needed to obtain a mortgage.  
Blame culture? I think not. It wasn't the media who built Goodwin up only to knock him down..............he did it all on his own. If they ultimately bury him next to Thatcher then it will save me a journey to spit on both graves.
DM
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malcolmfrary

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Re: The Late Sir Fred RBS
« Reply #9 on: February 01, 2012, 11:38:45 AM »

Another victim of the "Blame" culture.

  Regards   Ian.
True, but he should not be alone.  He was "rewarded" for taking risks with other peoples money when the risk worked.  The withdrawal of the "reward" for a failed risk is perfectly reasonable.

Just read this  http://www.bbc.co.uk/news/science-environment-16811042

When it actually does mind reading, perhaps it should be compulsory for all politicians.  A portable version strapped to a politicians forehead should make for actually interesting TV interviews.

Quote
If they ultimately bury him next to Thatcher then it will save me a journey to spit on both graves.
DM
Late Chinese New Year Wish - "Soon"
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Netleyned

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Re: The Late Sir Fred RBS
« Reply #10 on: February 01, 2012, 11:46:30 AM »

If they ultimately bury him next to Thatcher then it will save me a journey to spit on both graves.
DM


Not going to see the film I take it  O0 O0 O0

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malcolmfrary

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Re: The Late Sir Fred RBS
« Reply #11 on: February 01, 2012, 11:49:11 AM »

Living through it was enough.
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snowwolflair

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Re: The Late Sir Fred RBS
« Reply #12 on: February 01, 2012, 12:00:55 PM »

Sorry this is a politicians revenge.

I would love Fred to be charged and convicted, but without that this is sheer political vindictiveness designed to divert the stupid masses from seeing what a crap job they are doing.

Nobody died as far as I know from Fred's actions, but people are dying from the politicians rape of the NHS.
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pugwash

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Re: The Late Sir Fred RBS
« Reply #13 on: February 01, 2012, 12:26:43 PM »

Nobody died directly because of his actions David but how many committed suicide after losing their jobs/businesses/homes etc
I bet the numbers went up over the past 3 or 4 years.

Geoff
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Circlip

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Re: The Late Sir Fred RBS
« Reply #14 on: February 01, 2012, 01:42:47 PM »

But probably not as many as in the 30's depression.

   And lets not forget to sympathise with those who borrowed far in excess of their earnings cos they were lined up against the wall and threatened with a machine gun if they didn't borrow?

   I don't sympathise with Ex Sir Fred but question the logic in the numpties that have issued Knighthoods like confetti.

  Regards  Ian
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Re: The Late Sir Fred RBS
« Reply #15 on: February 01, 2012, 01:58:20 PM »

I don't sympathise with Ex Sir Fred but question the logic in the numpties that have issued Knighthoods like confetti.

Now there we concur. Presumably the same numpties who have recently been baying for his gong back.
It's not as if "Services to banking" means anything more than "Self-service of the Highest Order". I doubt if he's that bothered - you can't spend a gong like you can three hundred grand plus a year for the rest of your natural puff.
DM
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Circlip

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Re: The Late Sir Fred RBS
« Reply #16 on: February 01, 2012, 02:11:56 PM »

Quote
Now there we concur.

   Hades is freezing over

    Well, the temperature has dropped today. {-)

  Regards  Ian.
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Colin Bishop

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Re: The Late Sir Fred RBS
« Reply #17 on: February 01, 2012, 04:23:51 PM »

It's been interesting to see the reactions in the media and elsewhere on this issue.

Certainly Hester and Goodwin have acted as lightning rods for public displeasure and others are more deserving than Hester of censure, but life ain't always fair. No doubt the funds remaining to them will allow them to maintain their current lifestyles as some consolation.

There is much talk of people at this level being paid at 'the going rate' but it is exactly this point that is making the general population see red while the beneficiaries don't seem to understand the problem. The situation appears perfectly normal to them, hence their indignation about what is happening.

There are a class of people, not insignificant in number either, who have effectively detached themselves from the financial environment in which the rest of us live and they have done so by enriching themselves at our expense with their huge salaries, bonuses and automatic commissions etc. much of which have been based on artificial targets which allow them to cream off huge sums with little or no risk to themselves. With 'Casino' banking (using our savings deposits which attract derisory interest rates) they wheel and deal with all their complex financial instruments. But in a real casino there are winners and losers. In banking, if you make a paper profit then you are paid a substantial proportion of that as a bonus.  But for every winner in a deal there must also be a loser and the loser is not penalised. On the next deal the positions may be reversed but again the winner gets the bonus and the loser is not penalised. So we just have a continuing 'money go round' which adds no economic value whatsover but allows large sums to be removed from the system into the pockets of those playing the game. That money has to come from somewhere and so it does - from us! That is why, as Dave correctly points out, there is such a wide margin between interest and loan rates. The whole system has become parasitical and the average joe in the street has now woken up to it as the effects are hurting him directly.

The problem is that changing the situation on one country isn't necessarily going to affect that in others where perhaps the pressures for change are not so great at the moment. But there does seem to be a tinge of panic emanating from the financial community and their handmaidens at the moment which suggests that they feel the foundations of their oh, so comfortable little world shifting under their feet.

Colin
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geids

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Re: The Late Sir Fred RBS
« Reply #18 on: February 01, 2012, 06:53:32 PM »

Hi,

Don't really care one way or the other about ex Sir Fred. What I do care about is the individuals who were suspended from the house of lords for stealing our money through false expence claims. They are getting back into the house after their suspension and will be able to start claiming expence's again. I believe one "Lady" ripped us off for over 20,000 and has not paid back a penny, because she said I can't afford to. So Sir Fred losses his Knighthood for being a plonker but thieves are welcome to keep their Sir's and Ladies. To come back to rip us off again.   


John
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catengineman

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Re: The Late Sir Fred RBS
« Reply #19 on: February 01, 2012, 07:10:22 PM »


geids  :-))

also the liars that keep their gong and position in parliament even after a term in clink





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john s 2

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Re: The Late Sir Fred RBS
« Reply #20 on: February 01, 2012, 07:16:55 PM »

Totally agree with you. In Essex we have something called Lord? Hanningfield. Who used the Essex council car to commute to and fro from Parliament whilst claiming lodging in London. Now back claiming again. He does not appear to have been prosecuted for missuse of car. John.
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wbeedie

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Re: The Late Sir Fred RBS
« Reply #21 on: February 01, 2012, 10:45:02 PM »

you'll never see this happening lads, because this corrupt government is full of failed bankers. {:-{ {:-{ {:-{ >>:-( >>:-( >>:-(
I almost misread this one but thought that word wouldnt have been used on a family forum
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nhp651

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Re: The Late Sir Fred RBS
« Reply #22 on: February 01, 2012, 11:05:44 PM »

don't know what you mean wbeedie............

fred the shred is definately a failed banker, and so are some others in the government that couldn't hack it as bankers, going for the easy option of swindling a salary out of the tax payer for doing nothing as an MP!!!
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wbeedie

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Re: The Late Sir Fred RBS
« Reply #23 on: February 01, 2012, 11:30:26 PM »

change the b Neil to my initial lol
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nhp651

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Re: The Late Sir Fred RBS
« Reply #24 on: February 01, 2012, 11:34:25 PM »

oooohh, shame on you wb..........i'd never do that matey :embarrassed: :embarrassed: :embarrassed: :embarrassed:
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