Democracy is an illusion! It’s become a political system fostered by the élite, for the élite, in order to fool the people that they have a stake in the system. In actual fact, they have virtually none. The whole political system in the modern era, despite having noble beginnings, is now used to benefit the few at the expense of the many. – Mark Alexander, June 29, 2018
Showing posts with label Barclays. Show all posts
Showing posts with label Barclays. Show all posts
July 18, 2012
July 11, 2009
MAIL Online: City banks are preparing to lavish record bonuses on staff less than a year after bringing the world economy to the brink of meltdown.
Many high-flying traders and dealmakers are looking forward to ' mindblowing' payouts on a par with the rewards handed out at the height of the banking boom in 2007.
This is despite many of the banks only being able to turn a profit because they have been bailed out with taxpayers' money.
Wall Street giant Goldman Sachs is expected to confirm next week that it will pay an average of almost £400,000 in pay and bonuses to each of its 5,500 London-based staff - a total of £2.2billion.
Its profits are soaring on the back of the $6.2billion it received from the U.S. taxpayer last year.
Royal Bank of Scotland recently revealed chief executive Stephen Hester was in line for a £9.7million pay package if he brings the bailed-out bank's share price up to 70p.
Another bailed- out financial giant, Citigroup, is raising basic pay for many of its investment bankers and traders by up to 50 per cent, to make up for the loss in bonus pay.
Nationalised U.S. insurance firm AIG is planning to pay millions of dollars more in bonuses to dozens of top bosses across the world.
Last year it paid out more than £100million despite being rescued by the U.S. government after racking up £60billion in losses from reckless bets on toxic debt.
Credit Suisse, Deutsche Bank, JP Morgan, Morgan Stanley and Barclays are also planning major rewards.
This is despite their actions triggering a recession which is expected to cost a million Britons their jobs.
The return of 'business as usual' to the banking sector makes a mockery of the Government's claim to have stamped out the culture of greed and reckless risk taking in the banking industry. Big City bonuses are back! Less than a year after banks took billions in taxpayer-funded bailouts... >>> Simon Duke | Saturday, July 11, 2009
October 31, 2008
In choosing to allow Gulf investors buy up our banking assets, we are effectively selling out to the Muslim world. In so doing, we are continuing on the road of selling out to the Arab world. In time, this will lead to the complete loss of control of our own economy. If you think I am being melodramatic, just wait!
Never forget the old adage: He who pays the piper calls the tune!
Bankers, we now know are some of the greediest people on the planet; now, maybe, we may also conclude they are some of the stupidest, least-principled, and most lacking in foresight! Shame on them all! - ©Mark
TIMESONLINE: Barclays will raise £7.3 billion from investors after securing a £5.8 billion cash injection from investors in Qatar and Abu Dhabi, in exchange for a stake of over 30 per cent in the British lender.
The bank announced this morning that it will raise up to £2 billion pounds from Qatar Qatar [sic] Investment Authority (QIA), an existing shareholder, and its associated holdings, and £300 million from Challenger, an investment vehicle of a member of Qatar’s royal family.
It will also raise £3.5 billion from Sheikh Mansour Bin Zayed Al Nahyan, a member of Abu Dhabi’s royal family, which would give him a 16.3 per cent stake in the bank. >>> Grainne Gilmore | October 31, 2008
THE INDEPENDENT: Investors Pump Billions into Barclays
Banking giant Barclays today said Middle Eastern investors were pumping up to £7.3 billion into the business.
The cash injection from Qatari investors and the Abu Dhabi royal family comes as the bank looks to avoid calling on taxpayer funds to strengthen finances weakened by the credit crunch.
The funding move follows an earlier £4.5 billion cash call by the bank in June.
Qatar Holding and Challenger - a wealthy vehicle led by the Qatari royal family - are already investors in the group.
Barclays has also brought on board Sheikh Mansour Bin Zayed Al Nahyan - a member of the Abu Dhabi royal family - as a substantial new investor.
The Middle Eastern trio could end up owning almost a third of the bank when the warrants and notes issued by the bank are converted into ordinary shares. >>> By Russell Lynch, PA | October 31, 2008
The Dawning of a New Dark Age (Paperback & Hardback) – Free delivery >>>
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