IF GREEDY BANKERS WANT TO QUIT THEIR JOBS – GOOD RIDDANCE
Posted by Caledonian Jim in Daily Posts
In the US President Barack Obama (pictured above) is aiming to water down Democratic proposals on pay caps for banking executives because he fears a “brain drain” on Wall Street. In a move that has angered some prominent leaders of his own party, the President has indicated his concern that new limits on bonuses and compensation — inserted into his $787 billion stimulus Bill, which he signed into law in Denver yesterday – are too draconian and could limit banks’ co-operation with his plan to stabilise the stricken US financial sector. This month President Obama issued guidelines for the limits: in effect a $500,000 executive pay ceiling for employess of companies that receive US government money. Under the guidelines, restrictions would only apply to banks that receive “exceptional assistance”. Now far be it for a humble UK blogger like me to be advising the incoming saviour of the Western world (Barack Obama that is, not Gordon Brown) but perhaps the President – and indeed UK politicians considering the same problem – might care to reflect that it was these overpaid, arrogant, greedy people in the financial sector that got us into this mess in the first place and if they want to join a “brain drain” maybe we should be saying “good riddance” rather than bribing and begging them to stay on, because all they seem to be doing at present is feathering their own nests at our expense as they maintain the current chaos by refusing to lend, closing down profitable businesses and repossessing peoples’ homes. Where else are they going to get jobs ?
In the UK Mr Mohammed Al Fayed (pictured above) yesterday launched an attack on how police handled a recent sexual assault allegation against him after learning he will not face charges. The Crown Prosecution Service (CPS) announced there was “no realistic prospect of conviction” over a 15-year-old girl’s claim that the Harrods owner kissed her at his exclusive London store. Mr Al Fayed, who vigorously protested his innocence, said he was shocked that details about the damaging allegation were leaked to the media. The allegation was reported to police in May last year, but Metropolitan Police detectives did not interview the multi-millionaire businessman until October. Rene Barclay, director of complex casework for the CPS in London, said yesterday that officers carried out a thorough investigation and made extensive inquiries. But he went on: “Having reviewed statements and other material submitted to us, we concluded that, in the light of the conflicting evidence and the absence of sufficiently reliable accounts of crucial events, there was no realistic prospect of conviction.” So will anyone now be charged for wasting police time ? Don’t hold your breath. Mr Al Fayed vowed yesterday to campaign to prevent people accused of offences being named publicly before charges were brought. The Harrods owner said: “The investigation has reached an obvious and proper conclusion. But I have to ask why it took so long and why it was handled in such a way as to cause me and my businesses the maximum degree of damage.” I’ll answer that for you Mr Al Fayed – it happened that way because you are Mohammed Al Fayed and the powers that be don’t like you.
Dame Stella Rimington (pictured above), the former head of MI5, has accused the UK Government of exploiting people’s fear of terrorism to restrict civil rights. Ministers risked handing a victory to terrorists who want people to “live in fear and under a police state”, said the former spy, who retired as Director General of the Security Service in 1996. Dame Stella has been a harsh critic of the Government’s policies, including attempts to extend pre-charge detention for terror suspects to 42 days and its controversial ID cards plan. “Since I have retired I feel more at liberty to be against certain decisions of the Government, especially the attempt to pass laws which interfere with people’s privacy,” said Dame Stella, in a recent interview. In reply a Home Office spokesman defended the Government’s record, saying: “The British Government has been clear that, where surveillance or data collection will impact on privacy, they should only be used where it is necessary and proportionate.” Yeah sure – and at the risk of offending Muslim readers, I’ve just seen a pig flying over Whitehall.
And while we’re on about dictatorship, it has been revealed that the original champion of European unity (under German hegemony, whether you liked it or not) Adolf Hitler (pictured above with his mistress and eventual wife Eva Braun) had “shocking” table manners, gorged on cake in his bunker and suffered from a digestive disorder that caused flatulence . The dictator also bit his fingernails at meal times and nervously rubbed his index finger back and forth across his moustache, according to newly-discovered documents. The top secret papers also state that Herr Hitler believed Nazi Propaganda Minister Joseph Goebbels’ spin about himself, genuinely convinced he was the “greatest military genius of all time.” The revelations also show Hitler had a “streak of passive masochism” in his relationships with women. The Fuhrer’s daily routine and “uncouth” behaviour were recorded in notes taken from a high-ranking Nazi who spilled the beans to a British agent. If that was all the high-ranking Nazi thought was wrong with Hitler then the high-ranking Nazi should have been shot !
In the UK a husband whose ex-wife subjected him to a bizarre hate campaign has spoken out after she was finally jailed following 11 arrests for harassment. Judith Holmes-O’Brien (pictured above, right), a 44-year-old professional belly dancer (!), was convicted of breaching a recent restraining order against contacting her ex-husband Barry. A court heard she hurled abuse at Mr Holmes-O’Brien’s new partner and told his business staff and customers that he was a paedophile. Representing herself in court, Mrs Holmes-O’Brien, of York, started her evidence by proclaiming: “Let no man put asunder my marriage.” She also read sections of the Bible aloud in court. During the brief sentencing hearing, she claimed that the jury had been “nobbled” and that police and lawyers were perverting the course of justice. In one outburst, she shouted: “Dear, dear, dear. This is really bad in Her Majesty’s court room. All the corrupt solicitors and police will have to be arrested.” While sentencing her, Recorder of York Judge Stephen Ashurst ordered Mrs Holmes-O’Brien into the cells after she refused to stop interrupting him. He said: “I have come to the firm conclusion, in light of everything I have read and seen that Mrs Holmes O’Brien is not just a harmless attention seeker”. She was sentenced to four months jail at York Crown Court after a three-day trial. So that’s OK then – neither the Judge or the husband can stomach the belly dancer – but they might well have a case of renewed loud and persistent indigestion when she gets out ! It’s also interesting how a Christian religious nutter is treated with more than a pinch of salt – but if she had been a Muslim religious nutter she’d have probably been exonerated, her ex-husband would have been accused of Islamophobia and she’d be compiling her compensation claim at taxpayer’s expense as we speak !
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Jim You are Both a Gentleman and a Scholar.
and if anyone questions it – send them to me for a thorough thrashing.
This is what I love to read – good common sense, that reads like good common sense.
This is a perfect post to submit to the Black History Month Blog Carnival, Please.
Mr. Obama would be proud to know he’s found a like-mind in the UK.
You Said :
Now far be it for a humble UK blogger like me to be advising the incoming saviour of the Western world (Barack Obama that is, not Gordon Brown) but perhaps the President – and indeed UK politicians considering the same problem – might care to reflect that it was these overpaid, arrogant, greedy people in the financial sector that got us into this mess in the first place and if they want to join a “brain drain” maybe we should be saying “good riddance” rather than bribing and begging them to stay on, because all they seem to be doing at present is feathering their own nests at our expense as they maintain the current chaos by refusing to lend, closing down profitable businesses and repossessing peoples’ homes. Where else are they going to get jobs ?
Good morning, Jim. Good stuff!
I was directed here from my own strenuously non-controversial blog by the Blogupp program link. Yours was the first blog I was shown and I thought it only fitting that I come over and leave a comment.
So, kudos from me. This is excellent writing. And a nice layout as well. Give ‘em hell!
The problem with government trying to control businesses, especially setting a cap on bonuses, is that it will not work. What will happen if a cap is set on bonuses is that they then give them a much, much higher salary thus negating the cap on bonuses.
When the government control free enterprise it is socialism and this country’s constitution if followed give freedom of choices to people, it does not regulate what you can and can not do.
The cap on all compensation is a great idea and should not be waivered on. The White House even removed the “exceptional” provision; it now applies to all companies seeking government bailout money. I am in total agreement with your position on this matter. If they won’t cap executive pay, then no taxpayer money.