UBS bonus shake up.

[Happy Face 29]

Watch the Soros thing Nicos. He lays it out clear and simple for us.

 

 

Obama should bring him in to be the new Kissinger.

 

"George believed even then in a mixed economy, one with a strong central international government to correct for the excesses of self-interest."

 

Refreshing to hear a billionaire that believes that.

[Park Life 70]

Well the thing about Soros and partly what endears me to him is that he isn't one of those that started on the 'inside'. He started selling postcards on a beach in Wales, when they first came over to as immigrants (before he went to the states).

Edited November 18, 2008 by Park Life

[Happy Face 29]

The pillaging goes on unhindered...

 

The bosses of the three biggest US carmakers, Ford, GM and Chrysler, have asked Congress for a $25bn bail-out.

 

They told a Senate hearing that without the rescue package, their firms risked collapse, and warned of broader risks to the US economy.

 

GM chief executive Rick Wagoner said the firm needed a loan to span the "financial chasm" that had opened up.

 

However, Republicans and the White House do not want to use the $700bn bank rescue to help car firms.

 

GM has warned it could run out of cash in a matter of weeks and cannot wait until President-elect Barack Obama - who has promised to help the industry - is sworn in in January.

 

The BBC's Richard Lister in Washington says the last thing Mr Obama wants is to oversee the death of manufacturing icons during his first few months in office.

 

Inefficient production

 

Mr Wagoner told the Senate banking committee that the industry's predicament was not due to failures by management but because of the deepening global financial crisis.

 

He warned millions of jobs and 4% of GDP could be lost without government action.

 

"It's about saving the US economy from a catastrophic collapse," he said.

 

But sympathy for the industry appeared to be sparse among senators from both sides, our correspondent says.

 

The committee chairman, Christopher Dodd, a Democrat, said that the industry was "seeking treatment for wounds that were largely self-inflicted".

 

But he agreed that "hundreds of thousands would lose their jobs" if the companies were allowed to collapse.

 

Alabama Senator Richard Shelby, a Republican, also voiced doubts about the rescue package.

 

"As we consider altering the Treasury bail-out programme to provide cash and assistance to the domestic auto-manufacturers, I'm concerned that, once again, we're about to employ the 'ready, fire, aim' approach to problem-solving," he said.

 

Republican critics say the larger financial crisis is not the only reason why the biggest US carmakers are in trouble.

 

They say that the Ford, GM and Chrysler's production was inefficient, and that their labour costs were higher than many of their foreign rivals.

 

Mr Wagoner said that despite some public perceptions that GM was not keeping pace with the times "we were well on the road to turning our North American business around".

 

"What exposes us to failure now is the global financial crisis, which has severely restricted credit availability and reduced industry sales to the lowest per-capita level since World War II," he said.

 

Economic impact

 

Car executives argue that the failure of the industry would have a catastrophic impact, with three million jobs lost within the first year.

The US car industry is in need of resuscitation

 

Ford's president, Alan Mulally, said a failure at even one car company would have widespread consequences.

 

"The industry is so interdependent," he said.

 

"We're nearly 10% of the US GDP, and if one of the automobile manufacturers gets into serious trouble, it has just tremendous implications for the entire industry."

 

Congressional leaders are working behind the scenes in an effort to work out a compromise that could give some financial aid to the carmakers before the end of the year, but the outlook remains poor.

 

In an earlier hearing on Tuesday, Treasury Secretary Henry Paulson also resisted diverting funds to the US car industry.

 

Democrats have so far rejected the option favoured by the White House and Republicans, which is to let the industry use a $25bn loan programme designed to help the companies develop more fuel-efficient vehicles.

 

The hearings are due to continue later on Wednesday.

 

Textbook Shock Doctrine technique.

[Park Life 70]

The pillaging goes on unhindered...

 

The bosses of the three biggest US carmakers, Ford, GM and Chrysler, have asked Congress for a $25bn bail-out.

 

They told a Senate hearing that without the rescue package, their firms risked collapse, and warned of broader risks to the US economy.

 

GM chief executive Rick Wagoner said the firm needed a loan to span the "financial chasm" that had opened up.

 

However, Republicans and the White House do not want to use the $700bn bank rescue to help car firms.

 

GM has warned it could run out of cash in a matter of weeks and cannot wait until President-elect Barack Obama - who has promised to help the industry - is sworn in in January.

 

The BBC's Richard Lister in Washington says the last thing Mr Obama wants is to oversee the death of manufacturing icons during his first few months in office.

 

Inefficient production

 

Mr Wagoner told the Senate banking committee that the industry's predicament was not due to failures by management but because of the deepening global financial crisis.

 

He warned millions of jobs and 4% of GDP could be lost without government action.

 

"It's about saving the US economy from a catastrophic collapse," he said.

 

But sympathy for the industry appeared to be sparse among senators from both sides, our correspondent says.

 

The committee chairman, Christopher Dodd, a Democrat, said that the industry was "seeking treatment for wounds that were largely self-inflicted".

 

But he agreed that "hundreds of thousands would lose their jobs" if the companies were allowed to collapse.

 

Alabama Senator Richard Shelby, a Republican, also voiced doubts about the rescue package.

 

"As we consider altering the Treasury bail-out programme to provide cash and assistance to the domestic auto-manufacturers, I'm concerned that, once again, we're about to employ the 'ready, fire, aim' approach to problem-solving," he said.

 

Republican critics say the larger financial crisis is not the only reason why the biggest US carmakers are in trouble.

 

They say that the Ford, GM and Chrysler's production was inefficient, and that their labour costs were higher than many of their foreign rivals.

 

Mr Wagoner said that despite some public perceptions that GM was not keeping pace with the times "we were well on the road to turning our North American business around".

 

"What exposes us to failure now is the global financial crisis, which has severely restricted credit availability and reduced industry sales to the lowest per-capita level since World War II," he said.

 

Economic impact

 

Car executives argue that the failure of the industry would have a catastrophic impact, with three million jobs lost within the first year.

The US car industry is in need of resuscitation

 

Ford's president, Alan Mulally, said a failure at even one car company would have widespread consequences.

 

"The industry is so interdependent," he said.

 

"We're nearly 10% of the US GDP, and if one of the automobile manufacturers gets into serious trouble, it has just tremendous implications for the entire industry."

 

Congressional leaders are working behind the scenes in an effort to work out a compromise that could give some financial aid to the carmakers before the end of the year, but the outlook remains poor.

 

In an earlier hearing on Tuesday, Treasury Secretary Henry Paulson also resisted diverting funds to the US car industry.

 

Democrats have so far rejected the option favoured by the White House and Republicans, which is to let the industry use a $25bn loan programme designed to help the companies develop more fuel-efficient vehicles.

 

The hearings are due to continue later on Wednesday.

 

Textbook Shock Doctrine technique.

 

 

Marx and Engels will be turning in a da grave.

[Fop 1]

Northern Rock senior management are to get 30% of their wage in bonuses this year (they were trying to keep it secret for some reason ).

 

You couldn't make it up.

[Park Life 70]

Northern Rock senior management are to get 30% of their wage in bonuses this year (they were trying to keep it secret for some reason ).

 

You couldn't make it up.

 

 

Did you watch that Soros link foppah?

[Fop 1]

Northern Rock senior management are to get 30% of their wage in bonuses this year (they were trying to keep it secret for some reason ).

 

You couldn't make it up.

 

 

Did you watch that Soros link foppah?

 

 

Need a plugin for it, apparently.

[Park Life 70]

Northern Rock senior management are to get 30% of their wage in bonuses this year (they were trying to keep it secret for some reason ).

 

You couldn't make it up.

 

 

Did you watch that Soros link foppah?

 

 

Need a plugin for it, apparently.

 

It's on google video you muppet.

 

 

 

 

Soros is one of my heroes, but in that vid he gives the game away....Near the end he says that American spending (one of the big dynamo's of world capitalism) will now switch off for a long time and needs to be replaced by something. That something he offers is global warming..ka chink!!

Can't believe I'm always right.

Edited November 19, 2008 by Park Life

[Fop 1]

Northern Rock senior management are to get 30% of their wage in bonuses this year (they were trying to keep it secret for some reason ).

 

You couldn't make it up.

 

 

Did you watch that Soros link foppah?

 

 

Need a plugin for it, apparently.

 

It's on google video you muppet.

 

 

 

 

Soros is one of my heroes, but in that vid he gives the game away....Near the end he says that American spending (one of the big dynamo's of world capitalism) will now switch off for a long time and needs to be replaced by something. That something he offers is global warming..ka chink!!

Can't believe I'm always right.

 

 

The "Green" economy is absolutely huge and growing all the time.

 

 

 

Feck me, they even say Iraq properly (rather than Eye-raq).

Edited November 19, 2008 by Fop

[Happy Face 29]

Northern Rock senior management are to get 30% of their wage in bonuses this year (they were trying to keep it secret for some reason ).

 

You couldn't make it up.

 

 

Did you watch that Soros link foppah?

 

 

Need a plugin for it, apparently.

 

It's on google video you muppet.

 

 

 

 

Soros is one of my heroes, but in that vid he gives the game away....Near the end he says that American spending (one of the big dynamo's of world capitalism) will now switch off for a long time and needs to be replaced by something. That something he offers is global warming..ka chink!!

Can't believe I'm always right.

 

Both campaigns in the US ran on the platform of job creation through the Green bubble.

 

Strange that they're bailing out GM to the tune of $25Billion (the 20th most toxic company in the US) to 'stabalise' the economy. Let it crash and burn, invest $25Bn on improving the electric car.

[Park Life 70]

Northern Rock senior management are to get 30% of their wage in bonuses this year (they were trying to keep it secret for some reason ).

 

You couldn't make it up.

 

 

Did you watch that Soros link foppah?

 

 

Need a plugin for it, apparently.

 

It's on google video you muppet.

 

 

 

 

Soros is one of my heroes, but in that vid he gives the game away....Near the end he says that American spending (one of the big dynamo's of world capitalism) will now switch off for a long time and needs to be replaced by something. That something he offers is global warming..ka chink!!

Can't believe I'm always right.

 

Both campaigns in the US ran on the platform of job creation through the Green bubble.

 

Strange that they're bailing out GM to the tune of $25Billion (the 20th most toxic company in the US) to 'stabalise' the economy. Let it crash and burn, invest $25Bn on improving the electric car.

 

 

If only it was that easy...

[Happy Face 29]

Northern Rock senior management are to get 30% of their wage in bonuses this year (they were trying to keep it secret for some reason ).

 

You couldn't make it up.

 

 

Did you watch that Soros link foppah?

 

 

Need a plugin for it, apparently.

 

It's on google video you muppet.

 

 

 

 

Soros is one of my heroes, but in that vid he gives the game away....Near the end he says that American spending (one of the big dynamo's of world capitalism) will now switch off for a long time and needs to be replaced by something. That something he offers is global warming..ka chink!!

Can't believe I'm always right.

 

Both campaigns in the US ran on the platform of job creation through the Green bubble.

 

Strange that they're bailing out GM to the tune of $25Billion (the 20th most toxic company in the US) to 'stabalise' the economy. Let it crash and burn, invest $25Bn on improving the electric car.

 

 

If only it was that easy...

 

They rely on the public thinking it's more complicated.

[Park Life 70]

Noticed today mortgage lending in the U.K. has gone up 7% in the last month.

[Fop 1]

Noticed today mortgage lending in the U.K. has gone up 7% in the last month.

 

Good tbh (even though the banks are getting to have their cake and eat it), I'm sick of every single bit of greenery being filled with human rabbit hutches by developers looking for a quick buck.

 

And perhaps worse decently sized houses being bought, knocked down and 3-4 rabbit hutches being built on the plot.

 

Anything that causes a price collapse is welcome, the banks can be dealt with later.

[Park Life 70]

Noticed today mortgage lending in the U.K. has gone up 7% in the last month.

 

Good tbh (even though the banks are getting to have their cake and eat it), I'm sick of every single bit of greenery being filled with human rabbit hutches by developers looking for a quick buck.

 

And perhaps worse decently sized houses being bought, knocked down and 3-4 rabbit hutches being built on the plot.

 

Anything that causes a price collapse is welcome, the banks can be dealt with later.

[Happy Face 29]

 

 

They keep saying no-one saw it coming.

[Fop 1]

I saw it coming in 2002.

[Happy Face 29]

Source?

 

They're still not listening like....

 

[Park Life 70]

Source?

 

They're still not listening like....

 

 

 

Phoney economy!!?

[Fop 1]

Source?

 

They're still not listening like....

 

 

 

Phoney economy!!?

 

It sounds like here.

[Park Life 70]

It's everywhere baby. YOu can probably trace it back to when Arg and Brazil defaulted. Or when Clinton had to lend Mexico enough money so they could pay. The key indicator for me was when the Fed changed the rules about how much of the green stuff they could print.

[Fop 1]

It's everywhere baby. YOu can probably trace it back to when Arg and Brazil defaulted. Or when Clinton had to lend Mexico enough money so they could pay. The key indicator for me was when the Fed changed the rules about how much of the green stuff they could print.

 

No I mean here, them arguing sounds like Toontastic. But what you said too.

[Park Life 70]

It's everywhere baby. YOu can probably trace it back to when Arg and Brazil defaulted. Or when Clinton had to lend Mexico enough money so they could pay. The key indicator for me was when the Fed changed the rules about how much of the green stuff they could print.

 

No I mean here, them arguing sounds like Toontastic. But what you said too.

 

God your so subtext this morning Foucalt would be proud.

[Park Life 70]

The thrill of City life appears to be fading for hundreds of investment bankers who are preparing to turn their back on the financial sector and opt for a career in science teaching.

 

The Training and Development Agency for Schools (TDA) has revealed that inquiries about science teaching posts rose by a third last September compared with the same month in 2007. The agency will reveal this week that formal applications for science teaching posts have reached record levels and that further significant rises are expected next year in the wake of the world financial crisis. Many of those applicants are coming from the City, it says.

 

Among those swapping the trading floor for the school laboratory is Elizabeth Baldwin. The 44-year-old worked for almost 20 years for major banks, including Merrill Lynch and Lehman Brothers, until she found, a few months ago, that the excitement of the job was disappearing.

 

'I had just had my second child, Thomas, and the thought of going back to the City became less and less palatable,' she said. 'The high pay no longer compensated for the long hours and lack of social life.'

[Fop 1]

until she found, a few months ago, that the excitement of the job was disappearing.

 

Coincidentally at the same time as big bonuses disappeared and she lost her job.