The tell-tale sign of this state of affairs
is their simply amazing bonus culture in which speculators employed within the
financial division of banks like Barclays receive staggering awards in bonus
payments for their activities. Taking Barclays as a specific example, in the
current round of awards these financial wheelers and dealers are due to be
receive a 10% increase over last year’s payments and that’s on top of their fabulous
salaries and this is at a time when the
overall activities of the Bank resulted in a big financial loss. In short,
while the Bank lost money across the board it gave those it employs at the top
end in its financial service activities a handsome payout of TWO BILLION POUNDS
PLUS IN BONUSES!
In a recent statement the Bank’s Chief
Executive justified this, saying it was needed to retain the services of those
who might otherwise take their financial skills elsewhere! Such statements
might well enrage large sections of the public who’ve suffered grievously in
recent years from the activities of these people and illicit the simple response,
well
they can fuck off if they like because we don’t need them! This new
Chief Executive also made it clear that the people they cared about most were
the Bank’s shareholders, the people who he said owned the bank. Never once
during his interview did he mention the word CUSTOMER, the millions of people who
have their wages and salaries paid into the bank on a regular basis and have
current and savings accounts with it. Naturally he didn’t mention the fact that
Barclays pays many of its savers around half of one percent interest for the
money they keep there while charging borrowers rates varying between ten and
twenty times that amount!
Little wonder that it can afford to pay staggering
bonuses to their finance operators when it is so grossly exploiting ordinary
savers. However that’s only the half of it! In other announcements, as though
to demonstrate their uncontrolled arrogance, which is only to be expected from
those whose commercial activities are entirely unregulated thanks to the unregulated
arrogance of Gordon Brown, they’ve stated their intention to make thousands of
their staff redundant, particularly those working at the customer end of the
business as tellers and clerks in the High Street. What this means is simple
enough. The speculative side of Barclays activities will continue to flourish
at the expense of the day to day running of its customer arm of the business which
will be run down. In other words the bank will operate primarily for interest
of its shareholders.
Sounds fine only there’s a serious problem
with this. In recent years there’s been little evidence that the Bank’s
Executives and Board of Directors have run it for the benefit of its
shareholders because the value of its shares has collapsed leaving its
shareholders seriously out of pocket with no sign whatsoever of its value increasing!
Indeed the only people who have benefitted from the activities of the Bank in
the last five years have been its directors and top end financial services
staff all of whom have received huge salary increases on top of those already
paid along with gigantic bonuses in the face of serious banking losses.
This raises the question as to who actually
owns Barclays? Who is actually running the Bank and for whose benefit? Well it’s certainly not
being run for the benefit of its shareholders, nor can it be for that of its
tens of thousands of lower end employees many of whom will soon lose their
jobs. And it’s certainly not being run for the benefit of its customers who get
little to nothing for their savings and deposits. So looking at it simply and
clearly, Barclays Bank seems to operate only for the benefit of its senior
management and financial wheeler-dealers, people who seem to have effected a kind
of take-over of its function and purpose which is now clearly to make money for
themselves. That’s how things stand. The executives who have taken over the
bank are entirely contemptuous of just about everyone, from their day to day customers
and shareholders to the politicians who made promises to control their
activities but turned out to be lily-livered, pathetic and useless!
Little wonder that their share value is around
two pounds sixty and the shares of a fashion house like NEXT worth thirty times
more. Nobody trusts the banks anymore. They think the people who run them are
conniving and dirty. Only in it for themselves, as Barclays Bonus Culture clearly
demonstrates.
As for the Liberal Democrats who promised
to control them, there are simply no
words for these people. It’s hard to guess who are the more dirty. The bankers
who don’t give a shit and give everyone the finger or the Liberal Democrats who
lied without shame just to get into Government. Lied to students, lied to me
and lied to you.
AND THE WINNERS ARE… WAIT FOR IT…
THE
SHAMELESS LIBERAL DEMOCRATS
SHAMELESS BECAUSE THEY’LL ASK YOU TO VOTE FOR THEM
AGAIN SOON!
HOWEVER IN YESTERDAY’S PARLIAMENTARY BY-ELECTION IN
WYTHENSHAW THEIR CANDIDATE CAME LAST AND LOST THEIR DEPOSIT.
AT LONG BLOODY LAST, PEOPLE ARE WAKING UP TO THESE RASCALS!
AND NOW IT’S TIME TO WAKE UP TO THE BANKS!
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