With the current level of unemployment at 2.56 million in the United Kingdom, inflation consistently rising, fuel costs rising, repossessions at an all time high, is it time for the United Kingdom public to finally say NO!?. With bankers being held solely responsible for the current worldwide economic state, why is it that ZERO bankers have faced any serious jail time and why is it that bankers and other hedge fund managers who were bailed out by the Governments are being awarded billions in bonuses, on loses that have caused such a huge decrease in stability that this world has ever seen?
It was clear to many professionals in hindsight that selling consumers across the world 200% mortgages, when their incomes would not sustain for a long period of time their set repayments each month. Why is it that these so called professionals who are responsible for families losing their fathers to suicide, losing their homes, cars, jobs, entire savings are still working today? why are they still receiving billions in yearly bonuses, when they had traded in an illegal fashion and also traded on clear toxic losses that would and could not be sustained?
The answer is clear that the so called ‘Masters of the Universe’ are mere speculators when it comes to how whole economies should be ran and that when they lose and they usually lose BIG, they are not held responsible for their actions.
This is why there should be very clear regulation on the tradings of clear Smartly Dressed Criminals, if they break the law and cause huge losses for a company that they are held responsible. Not the workers, or the shareholders, that is clearly not fair or sustainable.
The regulations would monitor the tradings of each individual company on a yearly basis and those tradings that are deemed to be trading as illegal should be resigned of their position and tried in court for their crimes against humanity.
Now this may seem like an extreme sentence ‘against humanity’ however, it is clear that the current economic climate that the World is in has caused mass suicides, losses of homes, cars, families. Yet the bankers still receive their yearly bonuses, some individuals such as Joseph Cassano who received a whopping $315 million bonus, after being resigned due to illegal trading that was banned in USA, hence why he lived in the UK.
There is a clear need for action by the government and governing and regulatory bodies to ensure that we the public are protected from these Greedy, Moral Hazard free CEO’s. There has to be a clear distinction that if you lose you do not receive bonuses, if you commit fraud your assets will be stripped and you will face the fair jail time for your actions.
The same as if you rob a bank, these are the actions of an individual being they choose to rob that bank, they choose to break the law. Same as White Collar Crime, yet the jail time on average of White Collar Crime stands at 8 Years, yet a Murder Charge carries the life sentence of 30+ years in jail.
Let the so called Masters of the Universe, face this type of jail time and we will soon see a decrease and free willingness of these CEO’s to risk OUR futures and our Children’s futures.
Cap all bonuses for only those who have shown profits on their trades for their shareholders and do not allow the likes of Starbucks and Amazon not use illegal loopholes in the justice system to flaunt paying huge Tax bills that eventually when they fail they depend so highly on from the Tax payers.
It is time for change and that change has to be now if we are going to see positive results in 20 years. It is time for the Joseph Cassano’s of this world to be held accountable for their actions of clear fraud with bankruptcy and huge jail time sentences.
We can no longer allow both bankers and Blue Chip companies rule the world in such as Moral Hazard Free society and be expected to be bailed out time and time again, as they are ‘ Too Big to Fail!’.
No individual is Too Big to Fail, if the business model is flawed then it will fail time and time again, you are simply spending bad money after bad and it’s time to wake up to this fact.
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