When will the Bankers stand trial? #OWS

The global financial crisis occurred in 2008. It is now 2011 and still no Board Director has stood trial for negligence or fraud at Northern Rock, RBS, HBOS, Lloyds, Lehman or Goldman Sachs. No doubt there were others. It appears all cases have been dropped. How is this possible? Surely there must have been negligence, fraud, collusion or incompetence of some kind. Why is this being swept under the carpet and not examined? Who has so much to lose?

Most business people I speak no longer trust their bank or any bank. Can any of us ever trust a bank again? Can any of us trust a politician associated with these events ever again? And why when QE is conducted is more money injected into the same old banks which continue to produce bad or negative results?

The case for the #OWS is a strong one simply for the trials to take place and reassure citizens worldwide that justice has been done.



Nikolay Kryachkov

nikolaikrjachkov-116001

When will the Bankers stand trial? #OWS

Dear Emil, "nothing" (absence of meaning, value, or worth) especially with interest can not measure the value, if to mention it. "Legal tender" and "generally accepted" change nothing here in principle. But my question was more specific - about BankToTheFuture business.

0 comments

Emil Pop

emilpop-43208

When will the Bankers stand trial? #OWS

what is money Nikolay? if you have coffee beans how do you measure them? Maybe in Kilograms, maybe in liters (doubtfully) or in cubic meters or any imperial equivalent measure, but mostly for their weight. If you have milk you might choose to go by volume, rarely by weight and if you are a scientist you might measure it in calories, or glucids or proteins if you have a distance to walk you will use a distance measurement, be it metrics or imperial, and if you have to move earth you will express in it's cubic volume, rather than in weight or liters. When periods of time are involved you measure them in hours, minutes or seconds, and when you check your tire pressure you use a metric or imperial scale of fluid pressure measurement like Atmosphere, or Bars or PSI. When it comes to the worth of your house, or of your hourly work or of an object you posses or wish to posses or try to sell, how do you express it's worth? In Man Hour value added worth? And how much is my hour of work worth, how about yours, or the cleaning lady that whips the dust in your house? So we invented a way to measure the "worth" of things, VALUE, and a way to express the value units: "MONEY", but unfortunately we have not ended here. When you sell a Kilogram of peanuts trading it for liter of milk you traded peanuts per milk, but not the measuring units, those were measured with something that remained where it was, maybe yours, maybe his, or borrowed, but the scale was not part of your exchange, just helped you measure your goods. And here is the problem, people start writing certificates of value (actually checks) in which they say "I... have in my warehouse 1000 Kg of peanuts and give this certificate of 1 Kg of peanuts to the milkman for 1 Liter of milk" But the milkman needed no peanuts, so he gave the certificate to the baker for a loaf of bread, the baker needed no peanuts either, but more flour, and have various certificates from clients, thus he gave them to the mill-man, and the mill-man had too many certificates but needed somebody to clean the mill, so he gave you the peanut certificate for one hour of work, your debt was extinguished, you burned the paper, and had your milk. MONEY IS A WORTH MEASURING UNIT. the problem started when people started to perceive them as an intrinsic value, and banks came up, and the politics came up, and banks and politics merged, and military came up to protect money, and military/police/banks and politics became one machine that produced NO VALUE but lived on your PLUS VALUES in exchange of WORTH CERTIFICATES called money that they issue out of nothing. How would we live without money? To me... better.

0 comments

Nikolay Kryachkov

nikolaikrjachkov-116001

When will the Bankers stand trial? #OWS

The only thing I can not understand, Simon, where will be the place for money "after the banking system collapses" or money will be not money? In other words who will be a first level of authority to emit money "after the banking system collapses"?

1 comments

Simon Dixon

simondixon4-491062

When will the Bankers stand trial? #OWS

When we start to repair after the banking system collapses...

0 comments

ed percival

edwardpercival-668177

When will the Bankers stand trial? #OWS

Thomas, I would join the revolution, but I am concerned that the Illuminati, who control the banks as you know, will send the boys round. besides, we hold thousands of Lloyds at £6 and they're 20p now. So I have already given. Arrrgh! ed

1 comments

Robert Hill

roberthill-364844

When will the Bankers stand trial? #OWS

My first mortgage in 1971 was 2.5 times my annual salary. Since then we have come off the gold standard and floated currencies, then there was the big bang and deregulation in the global financial sectors. My son has to borrow over 5 times his annual salary to own a home. It is all about someone having their hand in your pocket helping themselves. About 20 years ago I went to my Bank Manger for a loan. I said to him "could I have a third world loan" He said "what are they" I replied "one that you don't have to pay back"! This was a few days after NatWest had written off £29,000,000 of debt, an extra £25,000 wouldn't have hurt and the money would have stayed in the UK. It would be no use to put bankers on trial, on their bonuses they can afford the best legal team that money can buy. Regards to all. Rob Hill

0 comments

Alan Bowman

alanbowman-330504

@Wouter When will the Bankers stand trial? #OWS

Hi Wouter Many thanks for this contribution and good to see that Mr Costa is taking such action and more power to his elbow and those other people and organisations taking part in this change of emphasis. I have always believed that Ecademy has the position and power to be the greatest Humanity Network around and all we need continue to do is spread the word and the knowledge which is the one thing we can give away which never diminishes but helps others grow and thus Ecademy. Cheers Alan

0 comments

Richard J Francis

richardfrancis1-363696

When will the Bankers stand trial? #OWS

Have you (or anyone else) seen "Inside Job"? Some claim the film is flawed in it's research and biased in it's perspective. Personally - I thought it gave a reasonably fair overview of how US bankers, the US Treasury and US Ivy-league business schools architected a triumvirate erosion of saver deposits rights over 3-4 decades and then proceeded to act as 'statute amongst themselves' - with little or no regard to the consequences. Trade recklessly by day - snort cocaine and sleep with prostitutes by night - all on expenses (our money). Interesting - all the same architects of that burgeoning fiscal balloon / meltdown are all mainly advising Barack Obama and his aides in the US senate TODAY. Scary or what? The $64k question (or should that be trillion) is where exactly in a landscape like that - do you begin to pin the blame and make it stick? These are the most powerful well-connected people on earth - who has any sway over them? If this is an answer aimed mainly at the US - then I'd prepared to bet the last pound to my name - the issues are probably frighteningly similar here in the UK. Richard J Francis Commercial Tuner www.boardroombreakthrough.com

0 comments

Alan Bowman

alanbowman-330504

@Lucas and Thomas When will the Bankers stand trial? #OWS

The Directors should be done for breach of Fiduciary Duty but they won'st be. Worse still Fred the Shred is being shown to have been a bully if the allegations by ex staff are anything to believe, and would rather believe them. Also he had no Banking qualifications nor had many who were in positions alongside him nor did they understand some of the transactions going through. It was the classic Turnover for Vanity scenario coming home to roost rather than Profit for Sanity. As Lucas has said many times and myself the older experienced Bankers were chopped and technology and wet behind the ears MBA's and corporate bullies ruled the roost and now look at the eggs they laid that we are all having to deal with.

1 comments

Thomas Power

thomas-power-8

When will the Bankers stand trial? #OWS

0 comments

Thomas Power

thomas-power-8

When will the Bankers stand trial? #OWS

So why isn't Sir Fred Goodwin and the RBS Board of Directors going to stand trial for directors negligence?

1 comments

Wouter Havinga

wouter-havinga-36680

When will the Bankers stand trial? #OWS

Hi Thomas, This morning on BBC radio 4 was about the Financial Services Authority investigation ref the collapse of RBS which reviewed the banker's legal responsibility. Apparently legal responsibility is difficult to pin point to a single person in the banking sector as compared to businesses in general, but that at the same time if things go wrong it has an effect on society. This is in contrast to when 'general' businesses fail, where a collapse does not have an effect on society as a whole. http://news.bbc.co.uk/today/hi/today/newsid_9660000/9660190.stm Michael Fallon said that due to the potential detrimental effects on society, things need to change. But I am concerned that in general rules and regulations are focused on, but equal focus should be given to the awareness that it is actually a personal issue for each and every individual, rather than cosily pointing away from one-self to some 'rules and regulations'. To me, what foremost needs to change is the awareness that we are all personally responsible to the community we serve because we are part of that community. In that respect each and every one can pin point their own motives and balance the effects our actions have on society and our own wallet. It is important to be a member of community and at the same time to be an individual and being aware of our (moral) responsibilities. With reference to egocentric hyped up investers and shareholders having caused havoc on a global scale in the investment banking sector, is a similar attitude continuing with the Tories (David Cameron) isolating the UK from the European Community - focusing only on UK's interest (wallet) rather than the community at large? Just like investment bankers wanting to hoard capital - to make capital out of capital and keeping it completely isolated from society - rather than investing capital usefully and develop communities, is the UK hoarding it's own self interest - perhaps to it's own detriment and the European or World community? To me it not a legal issue but an ongoing moral development of our consciousness. It is a spiritual process but that notion seems to be avoided - probably because it is too challenging, too confrontational as people are having to reflect and thereby often unable to put the onus on others but having to take (moral) responsibility for their actions. Nevertheless I believe that that personal awareness is now awaking in society, particulary with the New Of The World investigations, etc. These type of investigations are dealing exactly with that notion of personal responsibitily, of balancing one's actions to whether it serves the community or only one-self. www.twitter.com/wouterhavinga

0 comments

Bob Jones

bobjones7-361398

When will the Bankers stand trial? #OWS

Thanks, Thomas. Very interesting! I guess the magical veil could be pierced without the protections, we as society, have put in place. Seems as though we are all calling plays after the game is over. Too bad some well known "coach" (can you say "Leader"?) did not have the courage to impose his or her will at a time when it would have made a difference. I read this morning an interesting, unintended snip it. It came from and investment letter called Zacks. Yes it is an oversimplified, but it does provide professional insight. Consider: "Speaking of super models, one of the most dangerous ever didn't walk a fashion runway, but it did earn its creators a Nobel Prize. The Black-Scholes option pricing model is "dangerous" because it ushered in the era of derivatives. Not that there's anything wrong with derivatives like options and futures. But other complex financial engineering - like the kind that spawned the sub-prime housing bubble and subsequent banking meltdown - can be very dangerous indeed. Why? Because they are all based on some variation of the same quantitative methods used in Black-Scholes. Specifically we are talking about standard deviation and the bell curve. And these quant tools offer Wall Street the illusion of control and safety. If you can measure the past, and its variations, you can model the future. Sounds simple enough. And it sounds so objective and scientific without appearing to offer precise predictions. But we all know "past performance doesn't guarantee future result." So how does Wall Street get away with using standard deviation to measure risk? Because it offers such a tangible, numbers-based approach to describing the world. "Don’t worry," the quants say. "The statistical volatility (risk) is only X." The problem is that standard deviation was invented to measure the variation in physical phenomena like the anatomy of animals, the composition of rocks and the structure of matter. Nature has an order, and science is all about discovering it, measuring it and classifying it so that we can make predictions that work. Markets meanwhile are anything but natural physical objects that can give us reliable "standard" measurements. Markets are social beasts with unpredictable "wild randomness" as Nassim Nicolas Taleb calls it his book The Black Swan. So the next time that some Wall Street quant or analyst tells you he has carefully defined the risk of a particular investment according to its "variance" in his model, tell him you'll be happy to trade it with his money. What does all this mean to us? While some on the Street would have us believe that markets are efficient and rational, they are actually more subject to bubbles and shocks. And that spells opportunity for traders who can exploit the emotional extremes of optimism and pessimism". So, a Nobel Prize winning concept becomes the basis for evaluation, decision and ultimately, misuse. And the legal system society put in place protects those who misused their power and authority. Wow!! Have a nice weekend. Bob Robert C. Jones Make today the longest day of our lives! Grand Luxxe Villa - The Symbol of Luxury

1 comments

Bob Jones

bobjones7-361398

When will the Bankers stand trial? #OWS

Hello Thomas, Thank you for exposing the senior members of companies who sincerely say they are sorry. Will a public apology speed the recovery? Will the public apology make everyone feel better so they can now go about their business? It is interesting to me the number of high officials who feel compelled to say they are sorry for pushing the system and then getting caught. Leverage is a double edged sword; these executives were making money through the use of extreme leverage, and now have lost more money through extreme leverage. Leverage -> Temptations -> Gain -> / Loss -> I'm sorry..... Have a wonderful weekend. Best, Bob Robert C. Jones Make today the longest day of our lives! Grand Luxxe Villa - The Symbol of Luxury

1 comments

Thomas Power

thomas-power-8

When will the Bankers stand trial? #OWS

1 comments

Simon Dixon

simondixon4-491062

When will the Bankers stand trial? #OWS

I recently got invited to present at a European Banking Reform conference in Prague. At the conference I was invited to do a guest interview by Max Keiser (Will post the recording when done) Here is Mak Keiser's proposed solution - Hang / Shoot the bankers... Simon Dixon CEO BankToTheFuture.com Founder of Benedix Author 'Bank To The Future: Protect Your Future Before Governments Go Bust' & 'Student To CEO: 97 Ways To Influence Your Way To The Top In Banking & Finance'

0 comments

Bob Jones

bobjones7-361398

When will the Bankers stand trial? #OWS

Dear Thomas and all contributors, I want to thank Thomas for starting this blog and everyone else for participating. There are so many points of view, all of which deserve some consideration, and so much collateral information provided to support or expand upon those views, that all of us are now participating in an "Occupy Wallstreet" right here on Ecandemy. Take a moment and browse through the variety of posts. Only a couple or less weird contributions. Otherwise, this post is a mosaic of ideas, emotions, and information. I now have a much better appreciation for what it might feel like camping out in New York, Seattle, San Francisco, Oakland, San Jose, Chicago, London, etc. and listening to all the points of view offered in those physical places. Management of the issues under discussion are in the hands of many politicians and government and banking officials, and there are none here..... Have a nice day, all, and thanks so much again. Robert C. Jones Make today the longest day of our lives! Grand Luxxe Villa - The Symbol of Luxury

1 comments

Derek Sorensen

dereksorensen-69312

When will the climatologists stand trial?

The global financial scam began in 1988. It is now 2011 and still no climatologist has stood trial for negligence or fraud at UAE, Penn State, or the IPCC. No doubt there were others. It appears all cases have been dropped. How is this possible? Surely there must have been negligence, fraud, collusion or incompetence of some kind. Why is this being swept under the carpet and not examined? Who has so much to lose? Most people I speak no longer trust climatologists. Can any of us ever trust a climatologist again? Can any of us trust a politician associated with these people ever again? And why when investigations are conducted is more money given to the same old duffers who continue to produce the same pseudo-scientific results? and so on ... (Sorry, Thomas, to [slightly] hijack the thread - but what's the difference between what you posted and what I did - other than the names?) Derek

1 comments

dsgre dfgher

dsgredfgher-673604

When will the Bankers stand trial? #OWS

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0 comments

Derek Watkins

derekwatkins-82593

When will the Bankers stand trial? #OWS

The positive from this is that there is reform. Whilst this crisis was initiated in the US it has highlighted in a very painful way for many of us the vast deficiencies in our financial systems. To my mind to finance US banks to the tune of 100s of millions of $ blindly without ever knowing what the debt was that they were funding is gross negligence. Would they provide you with a million pounds without asking what it was for and how it would be secured???? Derek Watkins http://www.charterage.co.uk derek@charterage.co.uk 01892 288072 07771 716434

0 comments

Tony Laverick

tonylaverick-542253

When will the Bankers stand trial? #OWS

David Clausen is right - the problem started because US politicians wanted cheap loans for homeowner citizens who should never have moved out of the rented sector. These were securitized as high quality (a lie) and exported. When they went bad, contagion was so great, it caused the problems we now have. Securitizing is wrong and should be stopped so that lenders adopt more sensible approaches and suffer the impact of their foolishness. The people who packaged and sold these products should be prevented from working in financial services again, as they are crooked. That fate should be shared by the fools that bought them because they clearly did not investigate what they were buying and learned nothing from the previous split cap debacle, but not imprisonment. But it's not confined to the banks, since Vendor Finance should also be made illegal. That enabled German manfacturers to sell expensive products to greek and other buyers at prices higher than they could normally afford because they were charged interest rates lower than they should have been paying, thanks to the Euro. Would you like those manufacturers jailed too or should they just suffer the losses they have created? So many negative comments on this thread. The markets work on greed and fear but recovery is all about confidence and people spending so that taxes can start to reduce the debts. if money doesn't turn over, there are no tax revenues. Doom and gloom are self fulfilling prophesies. It's time to at least talk positively and too look to the future. Tony Laverick Chartered Financial Planner/b> Email: tonylaverick@argentisfm.co.uk

1 comments

Richard Evans

richardevansuk

When will the Bankers stand trial? #OWS

A most (and appropriate) far fetched idea ever to happen. The Bankers versus the rest of us. The process itself will get lost in translation with a slap on the wrist. If we took the bankers out of their current role would we be asking for more disaster??? Best Regards Richard Evans "Nobody can go back and start a new beginning, but anyone can start today and make a new ending." - www.no-more-9to5.com

0 comments

Alan Bowman

alanbowman-330504

When will the Bankers stand trial? #OWS

Thanks for the update Simon and the historical context is hysterical when you look at what was in the 1844 Act about "paper money" and then look at what is happening makes you really squirm from a Banking perspective. Cheers Alan

0 comments

Alan Bowman

alanbowman-330504

When will the Bankers stand trial? #OWS

Hi Simon At least for the non-bankers amongst us you have pointed out the debt based system we now have grown to such proportions that reform will take a long time but at least individuals who know what to do can start to make changes. A journey of 1,000 miles starts with the first step. Good luck with your plans. Cheers Alan

1 comments

Alan Bowman

alanbowman-330504

When will the Bankers stand trial? #OWS

Hi Lucas Many thanks for your ever informative blogging and hope all is well with you. Problem we have is that our politicians and financial hierarchy are so intertwined that they will not change the system and the resistance to a Tobin Tax, when you hear from those currently in high positions, is akin to the fact that Turkeys would never vote for Christmas. Simon's new Banking structure he hopes to get off the ground plus Peer to Peer lending, Bartering and Switch My Bank Account to Banktothefuture or to Building Societies or Mutuals is one way individuals can have an impact of change. Also Credit Unions and other structures such as Jeff Mowatt has expanded upon many times will return a modicum of control to the populace but it will all take time. For sure no Politician or Banker in the UK is going to stand up and be counted and say this as once their head was above the parapet they are there to be shot at so the status quo will continue for the foreseeable future. Thanks goodness Warren Buffet, Bill Gates et al are now doing so much good with their accumulated wealth.

2 comments

Emil Pop

emilpop-43208

The bankers will NEVER stand trial, trust me!

You can take my statement and put it in the bank, is as good as money! Not because they have the money, since money is FAKE value to trick people out of their real values: work, products, property, creativity, achievements. And people are stupid enough to give up this and more, their freedom, liberties, rights, in exchange of a fake safety and security called CASH. The bankers will never be trialed simply because they know too much about the truth, they simply obeyed orders of those that REALLY control the world through MONEY using them as a leverage to make folks and governments obey their orders, and it is them that wanted this crisis since too many of us got rich enough in MONEY to need no more to obey them, and now they are simply deleting richness to can control us again. (Rockefeller, Rotschild, Morgan, the UK royal family, some other royalty's around the globe, etc) We can get rid of them by simply ignoring money, eliminating the need of cash and credit, and building a parallel economy based on another form of compensation that makes no money, no tax, no need of monetary system. Here is a few thigs I was pondering over the years: do you see any way out of this monetary crisis? you-are-doomed what can i say that is the american dream, sort of... our last salvation is to educate the sheeple the two enemies of people are criminals and government vote is a very powerful weapon held against the voters freedom is an inside job all we need is good old dictatorship, my way! how do you turn a good country into a manipulating dictatorship it takes no money to fight pollution banks own us own our families own our future He who sacrifices his freedom for security deserves neither of them Emil Pop Mind Your Business Ultralight Aviation Enthusiasts Home Store Free plans for recreational (Ultralight, LSA and microlight) flight machines, want one, build one! Not good with tools? Buy one! Ready to fly planes and helicopters, gyroplanes and gliders.

2 comments

GHOLAMREZA SOLEIMANI

gholamrezasoleimani-532822

When will the Bankers stand trial? #OWS

I suggest you to review my article of "Efficient Portfolio of Assets: Application of Markov Chain (CON)" on the link: "http://emfps.blogspot.com/". In this article, I am willing to explain why I wrote previous article of "Efficient Portfolio of Assets: Application of Markov Chain" (http://emfps.blogspot.com/2011/11/emfps-efficient-portfolio-of-assets-con.html) . Perhaps, you will find your answer. Regards Reza At the first, we should know if the problem is actually the problem . It means: Which problem should be solved by us? Further more, we should simplify the complex problem to be perceived easily. Besides,we should know that there are so many ways to solve the problem and we should choose the best one by balancing of Time and Energy (cost)

0 comments

Simon Gray

simongray-85348

When will the Bankers stand trial? #OWS

Let's stick to regulating the banks, not going back to medieval economic systems. There are good reasons why we moved away from bartering to money-based transactions.

1 comments

Alan Bowman

alanbowman-330504

When will the Bankers stand trial? #OWS

Hi Clive Thanks for this as I had heard the comment that the EU had made bartering illegal and that really got me thinking as Bartercard is one of the largest growing businesses in the World and I thought this was the politicians and tax man and bankers trying to block that as it changes the dynamics of trade and business. Cheers Alan

0 comments

Alan Bowman

alanbowman-330504

When will the Bankers stand trial? #OWS

Hi Lucas et al I think we are all agreed the present system stinks and the casino gambling element of banking has screwed us all to varying degrees be it as individuals, companies or countries. Bank to the Future that Simon is working on, peer to peer lending, bartering (which I understand is illegal in the EU, can anyone confirm this) and trading real commodities and real assets(on which fractional reserve debts are generally raised) will all need to be closely examined. However, with the Banks controlling so much of what goes on I very very much doubt there is enough political will or chutzpa amongst our political elite to change anything of note in the current system. All each of us can do is work and explain in our own area of influence what we do with the monies we have and the real assets which are not used for debt raising. As Gandhi said "be the change you want to see in the world" and that applies to all of us but the more you put your head above the parapet the more you must be prepared to be shot at. Good luck all.

2 comments

Simon Dixon

simondixon4-491062

When will the Bankers stand trial? #OWS

Voted no respectfully Lucas. I feel that until we put an end to fractional reserve banking and banks creating money as credit, tax reforms will be in vain. Look forward to a good discussion when we finally get the opportunity to meet. Simon Dixon CEO BankToTheFuture.com Founder of Benedix Author 'Student To CEO: 97 Ways To Influence Your Way To The Top In Banking & Finance'

1 comments

Gray Lawrence

grayjl-463096

When will the Bankers stand trial? #OWS

Gray J Lawrence A Servant With a Mentors Heart Mob: 0044 (0) 7740 591 361 Tel: 0044 (0) 1522 691508 E-Mail: graylawrence@live.co.uk

1 comments

David Amos

davidamos-513846

When will the Bankers stand trial? #OWS

Hello All, what a great series of contributions from some very knowledgeable people, thanks. It seems to me that the Tobin tax would be perfect in an ideal world, but tend to the view taken by Simon Dixon that it would be near impossible to get all the various governments to implement the same legislation at the same time .... which may lead us to believe that banking reform is the only solution .. The uk Government will never make any changes to the structure of banking in the uk because it is so dependent on the tax revenues taken from the London based banking profits .... So we must develop new ways of replicating those same banking services by new means, the existing banks started as a network of local high st. fronts for collecting and distributing money ... now we have the internet that can do that for us .. we just need the mechanisms for facilitating money exchange using the web only. These new exchanges will develop over time and make the high street banks redundant, only the casino banks will remain. I did investigate 'e-gold' some time ago, was never quite sure about it ... anyone got a view on this type of product ? What we need is an international unit of exchange that is controlled by the people, not governments and international quango's ala the IMF. Dave BTW - Nuclear plants - were implemented by governments in the 60's for the purpose of deriving material for nuclear warheads, I fail to see how they are relevant to this topic. Dave Amos Director Applied-IT(Cloud Apps/SaaS) Mobile Surveys & Reward Vouchers Personalised URL Service E-Billing & Web Documents Server Monitoring & Alerting Media Content for Smart Phones

0 comments

Alan Bowman

alanbowman-330504

When will the Bankers stand trial? #OWS

Hi Lucas Could not agree more and look forward to meeting up in due course. The world needs change in so many areas, both political and financial, so we never get into this mess again but who knows or has the courage to stand up among our politicians and be a statesman and say it as it is and that it must be changed, Cheers Alan

1 comments

Alan Bowman

alanbowman-330504

When will the Bankers stand trial? #OWS

Hi Lucas Many thanks for your response and most useful information and the press should be pushing this and the issue re the 147 companies that control everything which, by the way, are mainly Banks. Now the two couldn't be connected, could they :-)). Even for a very positive person I can be cynical also, naughty boy that I am :-)) Cheers and have a great one and meet you in Switzerland soon . Alan

1 comments

Martin Yau

martinyau-635722

When will the Bankers stand trial?

It may take some time before those responsible for the whole mess are brought to justice if there is enough support. When the alternatives to the banks are established enough then the politicians may have the will to take action against banks, in my opinion, as the economy will not be so dependent on them to achieve growth and prosperity. Martin Yau Web: www.martinyau.org

0 comments

Richard Singleton

richardsingleton-65720

When will the Bankers stand trial? #OWS

Very interesting blog and comments, it has taken me a few days to read this far! Thanks Thomas et al. Thay should IMHO stand trial...directors CEOs etc should take corporate responsibility as has been mentioned above. But thay probably won't as they are all members of the same club, bankers support government supports bankers support government......ad infinitum. Good luck Simon, interesting and inspiring reading your contributions. Happy outcomes to all...... Richard Singleton Digital design. SEO, eMarketing and I.T. Consultancy - making web sites work! Doing I.T. for business for over 25years! SAVE TIME, TRAVEL & MONEY WITH WEBOFFICE http://www.singleton.uk.com Beautiful Holiday Apartment to rent in Bosa, North West coast of Sardinia Apartments, Villas and B&B in Bosa, Sardinia

1 comments

David Clausen

davidclausen-601125

It's NOT the Banks

It's NOT the Banks or the Bankers. Why is anyone upset at someone else's success? This makes no since. This economic brake down was caused by Congress… period. They continued to change the laws and pushed the banks and lenders to loan to on properties and to people that they should not have lent to. There are some in the derivatives that classified bundled bad risk mortgages as A or A+ instruments when they clearly were not. Many of these CEOs and managers have been prosecuted and are in jail. The two biggest problems we have to deal with is this push to make an unfair world fair and the media. First everyone should understand that life is not fair. Each of us has our examples of how unfair life can be. But at least in America we have the freedom (at least for now) to move forward and make our own success. Unfortunately most Americans will not invest enough time to fact check the news they are spoon feed every day. Or they just take in the headlines and do not get the full story. And in the case Thomas you are contributing to the problem. Let's do some fact checking before we start downing what someone else is doing. And by the way didn't the banks just do what we ask them to do? Did any of them force anyone to accept a loan? Did any bank every make you accept their terms? No the choice is yours. If you don't like what they are doing simply don't do business with them. Finally, remember that whatever you ask the governments to do with the banks will mean that you are giving them the authority to do the same to you. In America the government gets it's authority from the people. Once we ask them to intervene in commerce or any other facet of our lives, they will never get out. Do you really want the government to be telling you how to bank and who you can bank with? One of the new laws that has been proposed because of this fallout would not let anyone sell a property to you without first requiring a substantial down payment. This would severely handicap the real estate market in hard times. For anyone that was not around in the Carter error when inflation went through the roof, one of the only was to buy a house when the interest rate is 21% is to get seller financing with little down. The bottom line is be careful what you ask for… You just might get it.

2 comments

RealSteveHolmes Fading away soon

cvsage-38854

When will the Bankers stand trial? #OWS

Bankers have proved themselves to be common thieves, happy to make commissions on no-lose gambles with other people's savings and pensions but when called to own up merely blackmailed our governments because they are too large to fail. It's a disgrace and will go down as the biggest unpunished fraud in human history. READ MORE AT TAKE HEART

0 comments

Alan Bowman

alanbowman-330504

When will the Bankers stand trial? #OWS

With 147 corporations controlling a high proportion of the world and most of them Banks, see Lucas's blog about it or the New Statesmen, I think the chance of any Bankers being brought to justice are as improbable as that flotilla of flying pigs going over my office are. However, one can live in hope but can't one :-)) Cheers Alan

1 comments

Gordon Wheaton

gordonwheaton-294525

When will the Bankers stand trial? #OWS

I bank with HSBC and do trust them as they haven't caused me to distrust them. I do tend to blame the politicians for the economic climate. But I don't think the bankers are entirely free from blame, but there is good banking and bad banking Regards Gordon

0 comments

David Amos

davidamos-513846

When will the Bankers stand trial? #OWS

For anyone who is really interested, - follow this guy ... http://maxkeiser.com/ Dave Amos Director Applied-IT(Cloud Apps/SaaS) Mobile Surveys & Reward Vouchers Personalised URL Service E-Billing & Web Documents Server Monitoring & Alerting Media Content for Smart Phones

1 comments

Simon Dixon

simondixon4-491062

When will the Bankers stand trial? #OWS

Hi all, Just been invited to give a presentation at occupy London st. Paul's on Sunday at 11.30 to many of the anti capitalists with most of the mainstream media and TV there as an ex investment banker. Wish me luck. Simon Dixon CEO BankToTheFuture.com Founder of Benedix Author 'Student To CEO: 97 Ways To Influence Your Way To The Top In Banking & Finance'

0 comments

Erhard Ruettimann

erhardruettimann-669681

When will the Bankers stand trial? #OWS

Thank you Thomas for raising this question. We can leave this to the universal law of cause and effect. Everything will work out perfectly, if we believe it. The less energy we give to unworthy things the faster they will epxerience the drawback of their erroneous actions. Let's us no condemn but also let us not accept more of the wrong doing. We should clearyl state what we want and work towards it. Even when it is more difficult than to remain in status quo. Warm regards Erhard

0 comments

igor kirovski

igorkirovski-413790

When will the Bankers stand trial?

Ok... I see guys that you like to analyze, so with your permission I will tell you what I know at the moment : that is more interesting if you want to go further in details and put you glasses on, please (lol) : First, if you look carefully a "pyramid of ages", you can notice that there are 3 big drops in the west european countries, WW1, WW2 of course and .... the 70's, strange no ? Yes, sorry ladies, but the new freedoms of the student generations and the legalisation of the abortion (wich is good for me) created a consequent drop in the curve. So today there is about 2 persons of 65 years old for 1 "active" person of 35-40. Ask yourself why the demographic numbers and,the main ratios are not always public and why there is no more any "pyramid of ages" in the dictionnaries nowdays. When Sarkozy says that the french administration will remplace 1 position only for 2 people reaching 65, it is a big trick-lie. Even if he wanted, he couldn't find a second one...he is not born yet !!! lol and the immigration is not strong enough to remplace half of the working population of a country even a rich one ! Second, the end of the american dollars based on the gold in 1973 (petrodollars), made that the banking system calculated the garanties it generates for credit on the housing. Who became rich in the 80s 90s by just simply working ? Nobody. The middle class grew up by bying and reselling, not by the studies or the knowledge as it was for the generation after the WWII. The main asset was the properties not the gold you had in the safe, making the risks of inflation higher even if the bubbles have their own mecanism independant from the classical economy. And Third, The late up-rising of the informations technologies (the first TV or mobile phone could be made in the 20s, check the licences of Nikola Tesla or the work of Edison in USA) is a massive threat to all the monopolistic companies having their power maintained after the reconstruction of the WWII, and is re-enforcing a kind of globalisation by the down side. Today it is more and more difficult to hide his dodgy activity because somewhere in the world, someone is watching you and can report rapidely to everybody. So to summarize : 2 pensions to pay, for 1 to collect only, Nobody knows the exact value of the money, just the exchange rate is sure, If all the customers, big or small, stop to trust their notes, serious political problem at sight. Solution : organize and simulate a "wrong crise" to allow the money-printing machine to work again to avoid a serious inflationnist issue. The intellectuals who manage the states knows these numbers, that is why I suggest that Bernard Madoff & Co are not only just mobs, but organized mobs with the help of the national or federal banks. I am an ex-student of La Sorbonne, in Paris, in Geography, Statistics and Demography and we where working on these numbers 20 years ago. I see now that the calculations were right. We were trained to recognize a real capitalistic cyclic crise from an artificial one, this "crunch" is targeted and organized maybe to delay or avoid a cyclic one...who knows. Take care, girls and guys, and push your micro-businesses as I do, because to my economical point of view they are safer than any other industrial or licenced activity. You can take off you glasses, now...(lol)

0 comments

Michael RUDZIK

michaelrudzik-342121

When will the Bankers stand trial? #OWS

Most probably, not until we have a majority of politicians that have backbones ! Best wishes Mike It's not always what you do, that makes a difference. It's how you do it !

0 comments

Lucas Wyrsch

lucas_wyrsch

When will the Bankers stand trial? #OWS

Dear Thomas, Commercial use of nuclear power will bankrupt each and every country, it's only a question of time! France will be the next country that will go bankrupt because of commercial use of nuclear power! Germany, that phases out from nuclear power, will escape a state bankruptcy, France won't! Remember the USSR state bankruptcy in 1992, Argentina's state bankruptcy in 2000! Banks are victims of the nuclear renaissance that started in 2001 thanks to ENRON's War for Talent! Banks, like the 99 percent, are victims of the commercial use of nuclear power! China, during the last 30 years, most of this time, had no single nuclear power plant in operation! John Kerry: China 'Laughing All The Way To The Bank' Over Prospect Of U.S. Credit Downgrade! Our problem isn't about right and left, about capitalism and socialism, it's about commercial use of nuclear power! Nature acted on 3/11 2011 to show us that we have no other choice than to phase out from nuclear power! France still didn't get the message! Have fun and take care! Best - Lucas Join The Swiss Business Club - Join the GuanXi Game Club - Join the Risk Consulting Club - And Join Doing Business Virtually!

0 comments

John Kellden

johnkellden-23023

When will the Bankers stand trial? #OWS

Excellent thread. Thank you Thomas for inviting me back to Ecademy. I need to read up a bit more on the comments here. First thought, every last single one of the small and medium size entrepreneurs here, are more important than most have yet realized. Read carefully one of Thomas Powers earlier books, A Friend In Every City. for more clues and context.

0 comments

Eric Sutherland

ericsutherland1-131530

When will the Bankers stand trial? #OWS

Hi Thomas, We need to go back to the Wealth of Nations and rework how trading and money supply work. Also with reference to Peter F Druckers' book Post Capitalist-Society with the Megastate, Knowledge and ongoing Learning. Everything a Bank does should be measured and reported on to the Central Bank and spreadsheet models to measure real-time risk. Regards Eric Sutherland T/A Trog Associates Ltd View Storefront View 20% of each book Business Networking on ecademy Marketplace Author and Publisher Services Q & A on my Blog Skype Id: eric.sutherland1 Know Me for the knowledge I have in doing Business Process Analysis and Business and Technical Writing Like Me because I am willing to share my knowledge Follow Me so I can help you to be better at using my knowledge

0 comments

Lucas Wyrsch

lucas_wyrsch

When will the Bankers stand trial? #OWS

Here Are The 29 Global Banks That Are Too Big To FailOnly one is Chinese, BoC or Bank of China, but many are French and US, no Greek, no Russian, no Indian banks, etc. An amazing picture of the Western world that is braking down because of the War for Talent! The list of all the 29 banks considered is here: Bank of AmericaBank of New York MellonGoldman SachsJP Morgan ChaseMorgan StanleyCiti GroupState StreetWells FargoLlyods Banking GroupRoyal Bank of ScotlandBarclaysHSBCCredit AgricoleSociete GeneraleBNP ParibasBanque PopulaireDeutsche BankCommerzbankUniCredit BankUBSCredit SuisseDexiaINGBanco SantanderNordeaBank of Tokyo-Mitsubishi UFJMizuho Financial GroupSumitomo Mitsui Banking CorporationBank of ChinaGet inspired! Have fun and take care! Best - Lucas Join The Swiss Business Club - Join the GuanXi Game Club - Join the Risk Consulting Club - And Join Doing Business Virtually!

0 comments

tim mercurio

timmercurio-424593

When will the Bankers stand trial? #OWS

if there was a time and place? id be there to motivate and seek truth . if a pinhead stated let there be wind. and shouted in public , let there be a kinder person at hand what if the " if " scenario had come in play? all this talk in public and comments online i see i find it amusing but sometimes in good value and hopes, but again, "if" people actually took control of their limitations and done something besides talking too much,. why not instead of signing stupid documents ,rather we should be exploiting the truth and use some common sense, by explointing? i mean find their weakness and call demand on the irs and tax lobbyist , there are far more people in society than those who work with in the government . how is it so difficult for anyone to play the paparazzi where freelancing those pictures can actually earn good use and the benefits of getting rich at the same time , perhaps using that as what i call the U.H.U program now. U.H.U program stands for universal human unity , this bill calls for any criminal and tax evasions to set up 64 percent of their earnings annually to a trust fund for low income and those in dire poverty, those who are committed in jail must be required to give up their property rights and money as money is not just the sole purpose of success but as a given message of honesty and wealth must be earned . and never forgotten tsm tim@alltrusts.com

0 comments

Jeremy Harbour

unity-23450

When will the Bankers stand trial? #OWS

They introduced corporate manslaughter, I wonder is a similar structure around fraud could work, so the officers of a company can be held criminaly liable for the actions or vicarious actions of the organisation.... without that, I think we will see George bush and Tony Blair on trial for war crimes before we see bankers charged.... ie never www.jeremyharbour.com

0 comments

Arthur Harries

arthurharries-69632

When will the Bankers stand trial? #OWS

Yes Simon, but surely, even if not crimes per se, these people should be held to account for the massive losses and huge distress caused by their colossally reckless and risk-ridden behaviour with other peoples money (some of which was yours and mine). Crazy over-lending on very precarious premises (property bubble, sub-prime debt etc) instead of being penalised for, led to obscene pension-pot pay offs, following on from gigantic salaries and bonuses for performances which led to unmitigated and horrendous disasters.

0 comments

Simon Gray

simongray-85348

When will the Bankers stand trial? #OWS

Your point is a fair one but incompetence, stupidity and even greed are not crimes in themselves. There is a difference between those and fraud, theft and corruption.

0 comments

Nikolay Kryachkov

nikolaikrjachkov-116001

When will the Bankers stand trial?

Thomas: "Can any of us ever trust a bank again?" This question generates another one - what these people from "Occupy Wall Street" really want? Loans? No loans anymore? If loans, they will have the networked banks without any state control and with no space to protest (the end of history and democracy, if it was). If no loans, how do they outline economy in which people have various factors of production and can connect them into workable wholeness without a banker (good or bad) and share the results in the end of the project without necessity to be a muslim if they do not want it. I would underline a question - do you trust credit/debt structure of modern currencies? Regarding corruption. You know :), nobody answers my question - Why not establish The Corruption International in London, UK? to institute this phenomenon and make it more transparent. What do you think?

0 comments

Kate Baker

katebaker1-663965

When will the Bankers stand trial? #OWS

Not now, not ever - they are a symptom of the disease, not the disease itself. That goes much higher and deeper than commercial entities within countries. I worked for a bank for 20 years and saw how things were changing then. I can remember one of the unofficial 'motivational' phrases going round was "JFDI - Just Flippin Do It" (yes, I've cleaned it up) - I haven't missed much since I left. What's happened is not surprising just saddening. Kate Baker Managing Director, virtualgo2 ltd http://www.virtualgo2.com

0 comments

Julian Bond

jbond

When will the Bankers stand trial? #OWS

And the politicians that took the bribe and created the environment where bankers could take bigger and bigger risks with no downside? What happens to them?

0 comments

Wouter Havinga

wouter-havinga-36680

True price

Hi Thomas, I agree if you mean to say that people will have to pay and receive the True Price. In economics Rudolf Steiner described True Price as "A true price is forthcoming when a man receives, as counter-value for the product he has made, an amount sufficient to enable him to satisfy the whole of his needs, including of course the needs of his dependents, until he will again have completed a like product." Steiner maintained the idea of wages, i.e. paying people for their labor, is an illusion. In reality all real labor produces something of value, and the worker is paid for this value. Consequently, to properly perceive the economic life, it is necessary to picture each wage earner as actually running a little business that creates value and to interpret the wage as the price paid for the value. When wages are included among other prices then it is possible to apply the Law of True Price. I reckon that the other true price is that we are all accountable for our actions. I think that Jesse LaGreca (ref Occupy Wall Street) is talking about both these issues on paying the right price. In Jesse's own words from this video "I am not against capitalism, I am against crime" Follow @wouterhavinga

1 comments

Wendy Dashwood-Quick

wendydashwoodquick-54073

When will the Bankers stand trial? #OWS

Interesting question Thomas. As we all know, at the heart of this problem was the speculative (disastrous) banking activities coupled with no accountability. This was driven by a culture driven by greed. Banks don't give a **** as long as they are ok, because they serve no one but themselves. They are divorced from reality. And there is no effective hand brake on the City, no voice of reason and nothing to steady the ship. The old boys network is alive and kicking. Therefore the whole system is toxic. Solution. We need to start again with a new system based on strong values (and please no BS Mission statements). Banks are dying. Capitalism is dying. 4 recessions in the last 100 years have proved its flawed! But meanwhile (much like the peasants revolt) a movement started by one person will be the catalyst for change. We are watching the death rattle of a system that destroys people and economies. Canary wharf will be a museum in 50 years time. What will replace it is the exciting question? As I think you once said(?) The next leader of the world won't come from politics. The internet will see to that. The Arab Spring isn't the only fundamental change about to take place in the world. That's because we all have a voice and are pointing the finger and demanding answers. Look out 2012. Wendy Dashwood-Quick Founder of SocialMii Attract A New Online Audience www.socialmii.co.uk

1 comments

Thomas Power

thomas-power-8

When will the Bankers stand trial? #OWS

0 comments

Andrew Field

andrewfield1-300430

When will the Bankers stand trial?

Just stop and think about this... you're all on the blame bandwagon here. You shouldn't be. There is little doubt that excesses and greed had a part to play, but society in general have also contributed in a very large way to the collapse. Stan's comment about feeding the system is actually very pertinent. Banks/lenders/institutions had to get a little 'creative' to fund governments/politicians with all their gluttonous social schemes, which benefited nations. Its very much a situation of he who did not benefit from some social scheme or another should cast the first stone. Greece is an excellent current example. I don't suppose many of you would have complained about excessive personal profits made when things were buoyant (that was part of the greed), yet everyone and their brother has a whinge about the down swing... which, surely, with all the excesses by those you would like to draw and quarter was about as inevitable to many as day follows night. Yet we isolate a tiny sector of the economy for sanction. Sure, bring those who reaped what they did not sew to account, but I do fear that it goes outside the scope of just bankers and politicians. Andrew trades at Empire Avenue - come trade with me there! He also blogs at South of the Africa Equator. Of course Andrew does Twitter a bit - Follow @zimbandrew and LinkedIn: Andrew Field and I am trying Google+ too - please feel free to link up. Harare, Zimbabwe.

2 comments

Thomas Power

Arthur Harries

arthurharries-69632

When will the Bankers stand trial?

In my opinion: Certainly there was greed Certainly there was incompetency and negligence Certainly there was recklessness and gambling (easy when you are gambling with someone elses money.) Many foresaw the downfall that would result from the crazy over-lending (mortgages in particular), and were more than concerned about the dubious markets etc and ballooning expansion based on precarious premises Buck stops with Chief Executives (by definition - and why else are they paid so much) and Chairmen. The blame is culpable - yet no-one has been brought to book - on the contrary many walked away from the disasters they created, with obscene amounts of money. This would surely not have been allowed in any other walk of life.

0 comments

Venkataramanaiah Chekuru

venkataramanaiahchekuru-485007

When will the Bankers stand trial?

Who will order trial?There appears to be subtle collution?Citizens should be watchful. Venkataramanaiah Chekuru CEO CVR SYNERGY MAMAGEMENT SERVICES (Out-sourced CEO,Mentor and Management Consultant)

0 comments

Stan Broadhurst

stanbroadhurst-134242

When will the Bankers stand trial?

Love the blog Thomas ...this is a worthy subject.... but in reality .... re hashing ..selling ..and collecting debt is what they do ...so what can be fixed without collapsing the whole thing ... We borrow we feed the system !!!! There is a relevance somewhere in the question " What is a mans labour worth " Best Stanb

0 comments

Michael Heaney

michaelheaney-53285

When will the Bankers stand trial?

For those who want to follow one story... http://www.ianfraser.org/a-brief-history-of-halifax-bank-of-scotland/ I don't know if its true - but it reads like someone knows their stuff All rights reserved. Users may download and print extracts of content from this blog or comment for their own personal and non-commercial use only. Republication or redistribution of Michael Heaney's content, is expressly prohibited without the prior written consent of Michael Heaney. Benchwhistler Associates Ltd and its logo and tag lines are trademarks of MIchael Heaney or Benchwhistler Associates Ltd. © Michael Heaney 2011 Benchwhistler Associates Ltd Planned People Maintenance - Enhancing the Performance of your most important asset™ www.benchwhistler.com Know Better™ Twitter: @benchwhistler

0 comments

tim mercurio

timmercurio-424593

When will the Bankers stand trial?

Hmm intereresting comment, As we see here it is near the end of 2011, the problem isnt so much for the credit but as a whole, yes bankers and insurance and the like to play the big role in this but at the same time people also must be responsible and not allow themselves to be taken advantage of i.e " naive, subjective to leading a "contemporary comfort ", abusing their own alter ego,not only that we should take credit for our own down fall? but should worry more about how our children and offsprings would be effected by this dilemma. remember history repeats its self this is common sense, most as humans often forget the past as most are trying for the future thus making small problems in to bigger intolerable disasters. what i suggest is that boycott or use banks as personal but use trusts for business or set up just that of online banking if those who dont trust banks ,find out more on how to live on credit and live and adjust to areas where theres no need for cash, ask yourself? how had we lived in a society many thousands of years before this? , what had our ancestors done to survive ? if the world does break up in 4 parts? what can we do ? if there is no power? " omg " how do the " Amish " live in todays modern world. if people realize this , then truthfully? perhaps humans aren't as smart as they think they are. perhaps make bankers and insurance in the black list ? or perhaps? forbid them in any political schemes ?

2 comments

Christopher BABAYODE

christopherbabayode-47596

When will the Bankers stand trial?

Never ! Apathy is rampant, no one wants to disrupt the status quo, and the fear of the unknown. Jeff Mowatt thanks for a great video 5 lobbyists for each senator! Senators who couldn't tell you what derivatives are yet get to pass judgement because they are so well informed. Well obviously they are not. Greenspan's contrition was something to behold but just not enough. Christopher BabayodeNucentricals Ltdnojetstress.comT:001 77JET 70LAGO:01424 849 079

0 comments

Ek Heng Ng

ek-hengng-376435

When will the Bankers stand trial?

The saga of the shameless in the financial community in advanced economies is also being repeated in the developing countries. The much maligned term "micro-credit" which is supposed to help elevate poverty is causing untold misery to borrowers. How can one expect many of the borrowers, who are illiterate, with little if any notion of business sense, know how to multiply the funds to repay the high interests? An Australian TV programme that I watched recently highlighted that borrowers paid high interest rates, 20 to 50 percent are common and higher rates not unknown. Defaulters of weekly payments have everything - pots, pans and sewing machines - taken away and are left with nothing to make a living. On top of that, peer pressure is put on neighbours to shame the defaulters who are apparently told it was better to die because of insurance payout! Those being exploited do not know how to use modern platforms to highlight their plight. Rather than wait for authorities to take action, perhaps, we should dedicate a week each month with the message that we only have respect those offering true value in business and a hall of shame for those who enrich themselves at the expense of others.

0 comments

Albert Wm Gosnall#1

albertwmgosnall-42650

When will the Bankers stand trial?

Whilst here on earth probable never they have access to so much wealth they would buy their way out...one day though there will be a reckoning from a judge that cannot be brought they might then find themselves in hot water!!!! Albert Wm. Gosnall

0 comments

Garry Holland

garryholland-232924

When will the Bankers stand trial?

Hi Mick I hate to say that you are right unfortunately. If it were us who made these mistakes we would be fired immediately, no justice in the world. The peopel with teh power and money will always get away with murder, so to speak. Too many people have lost everything because of these people. It is a sign of society on all areas nowadays unfortunately.

0 comments

igor kirovski

igorkirovski-413790

When will the Bankers stand trial?

Another thing makes me angry too. If I do a big mistake at work I lose my job. Why all these CEOs didn't lost their positions ? What was the deal they passed with the governments ?

0 comments

Stephen Bailey

stephenbailey-133543

When will the Bankers stand trial? straight after .....

the idiot politicians who so unashamedly stepped into the media limelight as saviours of the planet with taxpayers money. Of all the things that Brown did wrong (many of which he should stand trial for - at least morally if not legally), the one that is most criminal was the bailing out of Northern Rock and the forced merger of Lloyds and HBoS. Their intervention, far from "solving" the problem actually exacerbated it, by giving the banking industry the green light to take whatever risks they want, safe in the knowledge that if all else fails, the government will prop up their businesses with taxpayers money. When a business takes risk and gets it wrong, it goes bust and the world moves on. In intervening, Brown (and Darling), haven't actually saved anything or protected anyone. The argument that as the Government now owns the banks the taxpayer gets the benefit from their actions is ideologically illogical. All that has happened is the bank has become another mechanism for Government to tax the taxpayer. How have your bank charges changed in the last 18 months? Meanwhile, Tony Blair has become an exemplary example of how the market works ;) Thanks Stephen Follow @Stephen_Bailey

1 comments

igor kirovski

igorkirovski-413790

When will the Bankers stand trial?

No need to analyze so much, just watch the movie "Inside Job", narrated by Matt Damon. For the rest the Bernard Madoff & Co, as I like to call our "Elite", I think that this crunch was organized by some States not to pay the pensions in the workers of the last generation in the rich world, the rate actually is 2 person of 60 for 1 of 30 years old. That is why these bank.ers will not go in jail for now. If still some people are too conservatives in their minds to trust the bankers, that is their fault not mine.

1 comments

Bob Jones

bobjones7-361398

When will the Bankers stand trial?

Thank you Thomas for inviting me to toss out my two cents worth. The S&L Crisis gave us a glimpse of what happens when the financial industry must replace capital that is lost due to high levels of loan failures. Leverage is a double edged sword. The Federal Reserve continues to support the financial industry because of the loss of so much equity due to the enormous downward swing in the value of tangible assets. Stabilization is the goal. Without stabilization, growth cannot be sustained. IMHO, there are many too many issues that are at play to place blame on individuals. Certainly, cases can be made for apathetic and herd like Board Members and Senior Managers of banks and other financial institutions. However, these are not grounds for legal action because the concept of suing a class such as this is way to broad and way to difficult to prove. More importantly, maybe we need to spend all of our creative, positive, intelligent and optimistic power on feeling good about what we have. Certainly many of us do not have what we thought we had four years ago, but that was yesterday and today is today. Let's get to work feeling good about something! But of course, that is only one person's point of view..... Best regards, Bob Jones Robert C. Jones Make today the longest day of our lives! Grand Luxxe Villa - The Symbol of Luxury

1 comments

Mick Say

micksay

It will never happen

It will never happen Thomas - Too Time consuming, too costly, and too risky to spend all of that time money and effort for pathetic fines and "resignations" I wish it was different - but it aint..... Mick Mick Saywww.onlinemarketingacademy.uk.com We Specialise in Meaningful web 2.0 Website Design and Hosting.We Create Online Marketing Platforms Developed for the Social WebCall me : 0044 7719 061 835 Email: mick@micksay.com

0 comments

Massimo Luciani

massimoluciani-394855

When will the Bankers stand trial?

Right now they're too powerful. The fact that the police are arresting bankers' victims who are protesting against them clearly shows how rotten is this situation. Open Source resources and games My blog about technologies, sports, books and other stuff

0 comments

Not active

sibren-210853

When will the Bankers stand trial?

There's no time for a trial, they're too busy printing new money for the covernment ;-) Sibren

0 comments

Robert Bridge

robertbridge-571689

When will the Bankers stand trial?

I think its been a while now but I sure there will be fireworks afterwards when everything is better. I am very glad the banks help me when the figures get low I hope things sort themselves out. Everyone has a bank account and every good bank has a good bank manager. The bank is only as good as the instructions they receive from the country they serve and the dilemmas that need to be sorted out at that particular time. Its so easy to vacuum things up, instead of brushing things under the matt. Happy Guy Fawkes Thomas and everybody at Ecademy.com: Sincerely, Robert.

0 comments

Roger Crain

rogercrain-258659

When will the Bankers stand trial?

Roger L Crain Perhaps never. But the Occupy Wallstreet protestors may have something to say about greed and corruption. Only time will tell whether those involved in this global financial crisis should be brought to trial.

0 comments

Nic Oliver

nicoliver

When will the Bankers stand trial?

I doubt they ever will. If any fraud charges are laid, the bankers' defence will be that they were just finding ways to meet the demand for easy credit. As very few people understood the extremely convoluted schemes that were being used to sell debt from one bank to another, it would be difficult to prove fraud. Most senior bankers didn't appear to understand the schemes! What annoys me is the continued arrogance of the top bankers. When told of the threat to cap bonuses, the head of Barclays replied that they would take their head offices out of Europe, beyond the EU's reach! I'd love to see people stand trial, but I doubt we'll ever see the banks' top brass in court. Kind regards Nic Connect - Engage - Share www.nic-oliver.com email twitter linkedin

0 comments

Simon Dixon

simondixon4-491062

When will the Bankers stand trial?

As an entrepreneur we can make a difference in banking. There is a movement beginning. The occupy people are relentless too. Simon Dixon CEO BankToTheFuture.com Founder of Benedix Author 'Student To CEO: 97 Ways To Influence Your Way To The Top In Banking & Finance'

0 comments

Simon Dixon

simondixon4-491062

When will the Bankers stand trial?

Because we rely on them for the creation of our countries money. But not any more if we get our way as banking reformers. Now is the time for change. We may need a complete crash though to get real reform. Trust in the law of Karma. It helps me. Simon Dixon CEO BankToTheFuture.com Founder of Benedix Author 'Student To CEO: 97 Ways To Influence Your Way To The Top In Banking & Finance'

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Jeff Mowatt

jeffmowatt-232748

When will the Bankers stand trial?

There's an early link between the call for reforming capitalism and tent based protests. In 2003 I was acting as intermediary between a protester and his senator. It was followed up with a warning in 2004 about the potentially fatal debt crisis, as he stood for election as VP to John Kerry. For being one of the few politicians to act on poverty, John Edwards is going on trial for concealing a relationship.

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Zara Lockwood

zaralockwood-48406

When will the Bankers stand trial?

From my understanding banks / big business can buy their way out of jail, they are handing over payments for corruption charges all the time, its expected behaviour as part of the job. Short selling for example, recently either mg global or goldman sachs (it doesn't really matter which to understand the formula) gets a group of potential investors in a room, shows them a specially prepared portfolio of 'things' they say are a good investment. Money is handed over, meanwhile seller of these investments is placing a bet that they will not perform/go down in value/fail. If caught doing this they get a fine/slap on wrist and carry on, if not caught they have the money from the investors and the money from the bet, rinse and repeat. Looking for ganoderma / reishi / lingzhi coffee? I am a distributor to a selection of products with this ancient herb in Click Here if in USA or Puerto Rico

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Lucas Wyrsch

lucas_wyrsch

When will the Bankers stand trial?

Probably never Thomas! A majority of 52.75% shareholders of the UBS has refused to discharge the business year 2007 at the annual general meeting 2010 again and asked UBS's board of directors to file plaint against the old members of the UBS board of directors but as far as I know, nothing has been done so far! 3.3. Discharge for the financial year 2007 | Yes: 767,642,136 - 45.90 % | No: 882,135,647 - 52.75 % | Abstention: 22,625,615 - 1.35 % Top Bankers belong, like in the French absolutist monarchy, to a class of privileged people who are clearly above human laws! Have fun and take care! Best, - Lucas Join The Swiss Business Club - Join the GuanXi Game Club - Join the Risk Consulting Club - And Join Doing Business Virtually!

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Jeff Mowatt

jeffmowatt-232748

When will the Bankers stand trial?

Probably never Thomas. When one considers the original deception and its actors It's been interesting to observe that this video had around just 200 views before it became part of the study guide for Economics in Transition..

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