[Top, L-R: Morgan Stanley / RBS / Deutche / Credit Agricole / Societe Generale]
[2nd, L-R: Barclays / BNP Paripas / Unicredit / UBS]
[3rd, L-R: JP Morgan / HSBC]
[Bottom, L-R: Credit Suisse / Goldman Sachs / Santander / Citigroup]
This chart is from JP Morgan – who are trying to say they’re good simply because they’ve lost less billions than everyone else.
Not the greatest ‘proof of professionalism’ I’ve ever seen but the data makes for interesting – and scary – reading.
And who is bailing out the ego maniacs?
Us. The people.
So in essence, we’re going broke helping the organisations who helped us go broke in the first place. How does that work and why hasn’t there been a revolution about it?
Seriously, are we the most apathetic generation in history – or is it that we are the only ones who know in the big scheme of things, we are an inconsequential irritant to the people in real power?
I know the banks bad behaviour goes deeper than just the responsibility of the banks … cultural materialism, shareholder pressure, Government greed all played a major part … but despite all that has gone on, I still don’t know where the responsibility starts and where the responsibility ends – because it seems to me, all the powers-that-be are doing is putting a plaster on the problem rather than treating the wound.
Letting banks have money to lend means nothing if the people have no security to borrow. Or maybe that’s the future of finance – corporate loan sharking – where they’ll lend to anyone but charge huge interest rates that you have no chance of ever paying back. Oh hang on, they did that already didn’t they!
Without wishing to downplay the importance of the current economic situation, we need to remember there are many, many more terrible things going on in the World – so while we worry about our loans/homes/jobs and lives, let’s not forget there are many people out there who have been worrying about their lack of health, homes, food, future for a hell of a lot longer than the relatively short time this financial crisis has been going on.
Don’t be a stranger to the rest of life …