This is how it goes down:
- Bank hires loads of "high fliers" to take huge risks in the quest for wealth.
- After a surprisingly long period of time (and wealth generation) said risks eventually go titsup.
- Bank worries about effect of risks and decides it doesnt like the pain and suffering said titsup will cause so gets Public to pay out (*)
- Bank now in debt to public so must save money
- Bank decides to do this by sacking low paid IT drones while awarding bonuses to previously said risk takers.
- New, streamlined bank continues to take risks and manage the wealth of very rich while 500 IT bods are now signing on, adding to the taxpayer's drain.
Yeah it makes loads of sense to me.
(*) So, in effect, the public was the one taking the risk and gamblng on the banks success. Only we didnt get a fair share of the wins, we only get the loss. Strangely, City high-flyers get the exact opposite and are then awarded huge bonuses for being so good at their job. Which must mean their job is to fleece the taxpayer.
Shouting because the whole sorry state of affairs annoys me. And the fact it will never change annoys me even more. If only *I* were rich......