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Old 24th February 2012, 05:51   #16 (permalink)
Sir Matt
First Team Regular
 
Join Date: Jul 2009
Location: LUHG
Posts: 11,374
So, they deserve to make huge bonuses for screwing up the economy? Sure, while they keep their well paying jobs, big houses, etc, the average person is put under far more strain than they are. Because of dim-witted and unscrupulous management, the mortgage crisis happened. Why the hell should they get paid bonuses for that? In pursuit of short-term profits, they created junk debt, which was wrongly rated by all the ratings agencies because they're corrupt and wanted to please the banks, that they could then bet against knowing that they were likely to fail. People over-borrowed, but banks have a responsibility(to themselves at least) to say no when it is unfeasible to offer a loan with reasonable expectation of repayment.

If they are working to build a more stable, prudent system, they deserve the bonuses as long as their companies are performing well and the people aren't expected to socialize their losses. More likely, they intend to just continue the high risk short game that the US and British banks seem to favor that is dependent on bubbles and busts. Until the bank repays its debts to the government, with interest, no one should receive bonuses. Once it's back on its own, it can do whatever it pleases but shouldn't expect the people to save them again.
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