Shoestring Chronicle
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Feckless In Need


by Monkles

20 June 2017

Bankers were found short of competence in charge of pension contributions.

#Hippo #Austerity #PursuitofProfit

Four Years Later


John Varley

Roger Jenkins

Thomas Kalaris

Richard Boath


Since I wrote "Feckless in Need" in 2013, this page has had wheels on this modest blog. Today, it was announced that these four executives representing Barclays Bank, have been investigated by The Serious Fraud Office and have been charged with criminal Fraud. The allegations concern alleged illegal fraudulent capital raising in Qatar during the 2008 crash.


This is said to be the first case brought by The Serious Fraud Office but it might also be their last harrah because this lame duck Tory government is about to close them down.


Maximum sentence, ten years in gaol. The day of reckoning beckons.

Feckless In Need

Bankers were found short of competence in charge of pension contributions.

#Hippo #Austerity #PursuitofProfit

by Monkles

7 October 2013

It is of course illegal to discriminate on the basis of age, but who could not notice the casual acceptance of age discrimination by politicians and employers and TV shows.


On Question Time last week the panel speculated and compared very old pensioners with young adults, and about which demographic would be more deserving of favourable benefits, and which should give way in favour of the other. We were told that the UK cannot afford to support both.  The clear subtext that both are a drain on us all, and then the  politics, that one demographic should be pitted against the other?


State pension entitlement ought to be a clear contract and a right of entitlement for pensioners based on their lifetime of contributions, but it is however doled out as if it were a welfare cheque.


To reach retirement in 2013, and having made a lifetime of contributions, pensioners are expected to accept a devalued, pension because much of the contributions they have made have been lost, or written off in the banking crisis or so they would have us believe.


The cash still exists of course, but it has simply moved from one feckless bank who lost a bet or two with other feckless banks, who now have the pension funds under mattresses in Bermuda.


The feckless bankers were found short of competence in charge of pension contributions and had to be bailed out with public funds. Bankers in need, not only required bailing out, they also needed a little extra bonus to overcome their sad misfortune.


They don't call that a welfare benefit but it was signed off by our current government, so it is clear enough where their priorities lie.


So why would any pensioner  accept or tolerate politicians of any persuasion who allow themselves to make political calculations about the amount of income pensioners receive in the form of a state pension?


We know what happened to Robert Maxwell when he was found gambling with The Mirror pension funds, so what happens to George Osborne if found doing the same to state pensioners?


And beyond the bailout banker welfare beneficiaries, the untouchable Bermuda tax free Filthy Rich.


It is not true of course that we cannot afford to support both pensioners and young adults with a civilised standard of living. It is however true that the UK Gov. chooses not to afford both.

Bankers were found short of competence in charge of pension contributions.

#Hippo #Austerity #PursuitofProfit


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