Business as usual for Barclays

[The Shaggy D.A.]

https://www.telegraph.co.uk/finance/financetopics/financialcrisis/3164203/Barclays-bankers-enjoy-500000-corporate-trip-amid-bank-bail-out.html
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[Paivi]

(a) It's the private banking arm of Barclays, so their clients have net worth in tens/hundreds of millions, so well worth looking after;

(b) They would have booked all this several months, even a year, ago;

(c) A lot of this can be deducted as an expense against the tax bill;

(d) £500k is nothing for these events, companies having been paying these kinds of sums for years for corporate boxes for footie, etc.;

(e) It's their money and as far as I'm concerned, they can do whatever they want to do with it.
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My other bike's a Monster...

[Hetzer]

There they are, right there, the scum filth and vermin, shamelessly TAKING THE PISS!

Now names have been named we need somebody with what it takes to go to their homes, slash their fvcking throats open and hang them by their ankles from a tree in the garden. Fvcking useless parasite TRASH. The world's had enough of these leeching contribute-nothing pieces of garbage.

Oh, but one result, one of the filth got topped the other day. GOOD FVCKING RIDDANCE, THE WORLD WON'T MISS YOUR SORRY ASS!
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"There's the horizon! Ride hard, ride fast and cut down all who stand in your way!"

[Hetzer]

[Paivi]

Why don't you get a fucking clue? Your rants are really rather tiring and increasingly missing their mark.

Barclays has not been bailed out, and they are one of the healthy ones. So, the money that was used for this did not come from the tax payer but from these clients in the first place as fees for the services, as well as interest on the investments.

And, the clients are not scum. Scum to me are people who are/have engaged in drug dealing and violent acts, not those who have earned vast amounts of money through hard work, like some of these individuals by building a business from a tiny entity into a global concern. Far more lives have been ruined by people like you.

[Al]

I bet Hetzer begins his next post with a ' ' smiley
He always does when his been owned in the previous post

[Hetzer]

[Paivi]

Yawn.

Time you realised that the financial services industry is an important part of life and business. No business can survive without a healthy financial services industry. Just look around now, banks have cut credit to their clients, so all of a sudden, people cannot buy houses and new vehicles, things traditionally bought on credit. Businesses can not get overdrafts, so can be brought down by their clients failing to pay, as they're trying to protect their own cash flow from their clients.

Yes, thousands of people in the City have lost their jobs, myself included, but that's going to be nothing compared to the tens of thousands of people in 'real' jobs losing theirs, as their companies start to fold. Charities have also been very hard hit, as whether you accept it or not, the banks and the extremely wealthy people are also very large donors to good causes, sometimes single handedly supporting a small local charity or donating life saving equipment to a hospital. Also, the City people tend to spend the money instead of saving it, so seemingly unrelated businesses are feeling the pinch: car sales, plane/helicopter rentals, restaurants and bars, florists, newsagents, tailors, etc.

And what kind of 'real' job, producing something that's of benefit to 'real' people living in the 'real' world would you suggest to anybody who's only ever done audit and accountancy in the financial services? Especially if they cannot afford retraining? Shall I go into manufacturing something? Oh, I can't, as nothing is made in the UK any longer, as the employees are asking higher and higher salaries.
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My other bike's a Monster...

[Paivi]

[Itchy]

Hmm it appears to be all over and immaterial anyway as FTSE100 dipped below 3900, me thinks the share prices of the 1929 crash are starting to look good,

2500 anybody?
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Spain 2008France 2007Big one 2009 We all die. The goal isn't to live forever, the goal is to create something that will. In the end, your life will flash before your eyes. Make sure it is worth watching.

[igiyf]

its never over titch,the way forward is to create a world banking system and hand all control of it to those who ran the American fed and clearly do such a good job

[Hetzer]

[killa]

I know Paivi isn't stupid, but comments like this...

[Hetzer]

From a BBC article:

"The classic "lightbulb" jokes have been reworked to take in the credit crunch. In others, finance professionals are now taking the place of much-derided lawyers.

'What is the one thing Wall St and the Olympics have in common? Synchronised diving.'

Comedian Steve Punt.

Is this schadenfreude, or delight in the suffering of others? Are we relishing the misfortune of those richer than most of us? And are the jokers cruel to revel in the sufferings of those who are now losing their jobs and wealth?"

My answer to that one...

https://www.vikdavid.com/blog/pics/nelson-haha.gif
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"There's the horizon! Ride hard, ride fast and cut down all who stand in your way!"

[igiyf]

[Paivi]

[Itchy]

[Hetzer]

[Paivi]

[D O G]

[igiyf]

[Hetzer]

[D O G]

Interesting point. As Paivi says, however, without financial markets, pension funds would be largely irrelevant. Pension funds effectively are large investment clubs, linking people's savings to the value of the economy, through the increasing value of major companies.

Over time, the value of the investment still shows a significnat net increase (I believe the FTSE was rebased in the late 1990's to 1000 points - which means values ahev increased threefold from then). This would not have been possible without functioning financial services and markets.

This current crises, the way I see it, is an adjustment to the value of companies who have long relied on suspect assets and cheap credit to drive their growth, and hence value. Whilst there has been some very suspect practices from some of the institutions, and some even more suspect 'bailouts' from governments, you can hardly tar each person with the same brush.

It woul be unfair, for example, to say that the guy who reads my gas meter is a piece of degenerate scum, when in fact you should be levying those accuations to those who have colluded with the government to privatise the energy market in their favour.

It is massively unfair to label everyone and everyone who ever worked in the city as someone who warrants misfortune and sorrow. The work is hard, involved, demanding and poorly rewarded, frequently less well paid than those who do a 'proper' job suhc as labouring, plumbing, underground maintenance or other such professions.

Just because you sit at a desk in the square mile does not make you vermin.

[Hetzer]

[Paivi]