Pages: 1

 

2009-01-29 11:23:52
Bertster7
Confused Pothead
+1,101|6885|SE London

We can (probably) all agree that reckless lending by those running the banks is at the heart of the financial crisis

How about a global resolution implemented by all governments requiring those working at the decision making level in the banking sector to pay an additional 10% of income tax for the next decade. This could be applicable only to those who have been working in the banking sector and not new recruits and would still apply even if they moved jobs to another market sector.

I have no idea how this could work in practical terms - but wouldn't it be great to see those bastard bankers, who've screwed us all over, hit where it hurts (their wallets) whilst pumping more much needed cash into governments around the world.


Whadya think?
2009-01-29 11:29:00
ATG
Banned
+5,233|6833|Global Command
1929 crash we borrowed 2.8 billion from the fed.
2000 y2k through 9-11 3.8 billion.

Great Crash of 2008, we have borrowed 800 billion and counting.

I'm afraid this has gotten way too far gone for such lighthearted solutions.

I'm thinking public stonings for these guilty now, burn their houses down, sow the ground with salt and make their extended families work in hard labor camps.


Too much short of that and we will stay in this cycle of boom/bust/bubble/boom/bust.
2009-01-29 11:31:24
san4
The Mas
+311|6992|NYC, a place to live

Bertster7 wrote:

We can (probably) all agree that reckless lending by those running the banks is at the heart of the financial crisis

How about a global resolution implemented by all governments requiring those working at the decision making level in the banking sector to pay an additional 10% of income tax for the next decade. This could be applicable only to those who have been working in the banking sector and not new recruits and would still apply even if they moved jobs to another market sector.

I have no idea how this could work in practical terms - but wouldn't it be great to see those bastard bankers, who've screwed us all over, hit where it hurts (their wallets) whilst pumping more much needed cash into governments around the world.


Whadya think?
They would just stop working at banks and find jobs elsewhere. Or just live off the millions they already made.
2009-01-29 11:33:39
Scratch[USA]
Member
+105|6851
I like the idea, but the banks will just pass the 10% onto the consumers.

Last edited by Scratch[USA] (2009-01-29 11:35:14)

2009-01-29 11:48:12
Aries_37
arrivederci frog
+368|6879|London
Or a better idea, lets give them billions in bailout money so they can get even larger bonuses, go on weekend 'meetings' at luxury holiday resorts, and not pass a dime onto the starving masses.

Honestly though yes, these people need to be punished. Noone else in any other line of work could get away with such a fuckup.
2009-01-29 12:05:07
KEN-JENNINGS
I am all that is MOD!
+2,984|6935|949

Well I wouldn't agree that reckless lending is at the heart of the financial crisis, but that is a different thread.

The problem with creating a mandated tax increase is that the cost would most likely just be passed on - ie. they just vote themselves more compensation/benefits to offset the cost of the increased tax.

What I would like implemented is the inability for financial institutions to lend out money that they don't have, especially to other lending institutions.  I would also like to see the dollar tied to labor/manufacturing so the Fed cannot wantonly print $$$

Last edited by KEN-JENNINGS (2009-01-29 12:09:11)

2009-01-29 12:20:54
Bertster7
Confused Pothead
+1,101|6885|SE London

san4 wrote:

Bertster7 wrote:

We can (probably) all agree that reckless lending by those running the banks is at the heart of the financial crisis

How about a global resolution implemented by all governments requiring those working at the decision making level in the banking sector to pay an additional 10% of income tax for the next decade. This could be applicable only to those who have been working in the banking sector and not new recruits and would still apply even if they moved jobs to another market sector.

I have no idea how this could work in practical terms - but wouldn't it be great to see those bastard bankers, who've screwed us all over, hit where it hurts (their wallets) whilst pumping more much needed cash into governments around the world.


Whadya think?
They would just stop working at banks and find jobs elsewhere. Or just live off the millions they already made.

KEN-JENNINGS wrote:

Well I wouldn't agree that reckless lending is at the heart of the financial crisis, but that is a different thread.

The problem with creating a mandated tax increase is that the cost would most likely just be passed on - ie. they just vote themselves more compensation/benefits to offset the cost of the increased tax.

What I would like implemented is the inability for financial institutions to lend out money that they don't have, especially to other lending institutions.  I would also like to see the dollar tied to labor/manufacturing so the Fed cannot wantonly print $$$
Then what is to blame?

Scratch[USA] wrote:

I like the idea, but the banks will just pass the 10% onto the consumers.
Could be prevented with legislation.

Last edited by Bertster7 (2009-01-29 12:22:44)

2009-01-29 19:04:36
DrunkFace
Germans did 911
+427|6985|Disaster Free Zone

ATG wrote:

1929 crash we borrowed 2.8 billion from the fed.
2000 y2k through 9-11 3.8 billion.

Great Crash of 2008, we have borrowed 800 billion and counting.

I'm afraid this has gotten way too far gone for such lighthearted solutions.

I'm thinking public stonings for these guilty now, burn their houses down, sow the ground with salt and make their extended families work in hard labor camps.


Too much short of that and we will stay in this cycle of boom/bust/bubble/boom/bust.
Inflation makes $2.8 Billion in 1929 = $45.6 Billion today
The population is also 2.5 times greater now, making it equivalent to $114 Billion for a comparative population.

 

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