Bank executives - repossess their wealth (grace, blood, America, God)

[sandandfoam]

Ireland's Banking system is falling apart. Bloodbath sparks new fears over main banks - National News, Frontpage - Independent.ie It's taking the economy with it.
Small investors are getting it in the neck. Out of 20,000 shareholders in the soon to be nationalized Anglo, some 15,000 of them had small holdings of 5,000 shares or fewer. (source-Victims of Anglo must now think of legal action - Charlie Weston - Independent.ie )Now they are worthless. They were sold a pup. The former chief exec. of that bank has loans out of €80+ million. The execs in this and the other main banks have taken salary and bonuses of several million a year. Plus god knows how much in loans. These execs. and former execs. should be stripped of their wealth. I think that if they bankrupt thousands of people and destroy a nations economy to satisfy their personal greed it is a disgrace if they are allowed retain the fruits of that greed. I think their wealth should be repossessed and spread amongst the pensioners they diddled.

[Jeremy Mason]

Sorry to hear about that stephenw. I do not doubt that it will be long before it happens over here in America. this is how they do it.

YouTube - 1. Corrupt Banking System - Cartels Robbing the Public

[Scuba Pete]

That was amazingly interesting, Jeremy, and a good use of my time. Thanks and Frubals on your head!

[sandandfoam]

I did a sum this afternoon. When my Grandfather died he left €5000 for my kids. We put it into AIB shares for them. We bought €5000 @ €19/share. At lunchtime today those shares were worth €0.22 each. That makes the kids shares worth about €58.
I feel really sorry for those who had life savings invested in bank shares.

[Scarlett Wampus]

Originally Posted by stephenw

These execs. and former execs. should be stripped of their wealth. I think that if they bankrupt thousands of people and destroy a nations economy to satisfy their personal greed it is a disgrace if they are allowed retain the fruits of that greed. I think their wealth should be repossessed and spread amongst the pensioners they diddled.

Something like that may happen...eventually, i.e. far too late for it to make much difference.

If things can recover enough to offer the chance to truly learn from our truly huge mistakes then the monetary systems we've all adopted could (should!) be dropped in order to adopt something far more rational, regulated and fair. If we're exceptionally lucky something like that could occur without a transition to a super-authoritarian police state, too!

I'm so optimistic about that last bit that I'm heading for the mountains.

[Seyorni]

Repossess everything they own and let them live in council flats -- or maybe old caravans. Wouldn't have to subsidise a caravan.