54 Million Ways To Out The Lie In The LIBOR
It also presses ahead with the plan to force disabled benefits applicants to prove they are unable to successfully complete an SAS assault course before they qualify for help…anything less and they are to be re-trained as bailiffs to garnish the funds needed to support disadvantaged banking bonus schemes.
The top ‘compensation’ structures are only the tip of the iceberg. The disgraceful staff incentive reward bonus scheme is endemic and still the bankers in line for public funding say they wish to reward themselves and senior staff in the same way.
Like the one-eyed dinosaurs they are, they will attempt to push through their reward the boys and girls scheme whatever the government demands. Doyouthinkhesawus snouts continue rooting in the feeding troughs.
Old King Cole used to sit in his Counting House while his team ate curds and whey. If things continue along these lines we will all need the recipe.
Brown’s team had better wake up pretty damn fast to this…even down at my watering hole the natives are restless.
- AGW
Posted: 19th, November 2008 | In: Money Comments (2) | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink
Comments
November 19th, 2008 at 9:57 pm
My apologies; I should have updated the Libor contracts figure.
Bloomberg today estimates it at $360 trillion…
November 19th, 2008 at 9:50 pm
I am always sympathetic to someone putting the boot into bankers, but the reality is that commercial loans are usually priced at Libor plus; that is the whole point of central banks pouring vast amounts of money into the system in order to bring rates down.
‘Libor anchors contracts amounting to some $300 trillion, the equivalent of $45,000 for every human being on the planet.’