Tuesday, December 16, 2008

Bad People


Bernie Madoff is a crook
And the only difference between Bernie Madoff and many other bankers is that he got caught.
The irony is, he was caught by the dishonesty, incompetence and sheer irresponsibility of other bankers.
If the boom had gone on, he would have gone on.
Bankers have been exposed all over the world as people who cared little and still care little about anything other than themselves.
Those running companies which have gone under - losing pensioners everything, losing the only savings some poor folk had, ruining lives - left with millions. And left without a care in the world.
They've done ok. They've still got their myriad homes, yachts, cars - whatever money can buy.
They didn't lose. They rarely do.
Indeed, in Ireland we had bankers who have presided over a 95 share collapse in their companies, telling our government how to run the economy.

(That is not to say that the government couldn't do with help running the economy. A 12 year old boy doing basic mathematics could probably provide advice sounder than that which the Irish government is currently receiving.)
It is the blinding arrogance of the bankers, and I think our Irish ones in particular, which irritates so much.
Their behaviour, their incompetence, their dishonesty, their greed has seen unfortunate shareholders see the value of their stock vanish. But yet, the bosses say they are doing a good job.
They lie continuously about their bad debts. They loaned money to people who clearly were never going to be able to pay it back. The money was loaned on the basis solely, of property values rising for ever and ever, something they clearly couldn't do.
And they cling onto their jobs, paying themselves vast sums, handing themselves bonuses, presiding over what are now mythical empires, vast wealth that exists now, only in their heads.
They wait and wait for the turnaround, the bounce back - unaware that as long as they are running the banks, there will be no turnaround, no bounce back.
It is in jail they should be.
Or better still, in the stocks on O'Connell Street for us to through rotten fruit at.
Let he who is without cash throw the first tomato.
And that will be me.

1 comment:

Brendan Martin said...

I hate people like that. They just take, take and fuck up the rest of us.