European Salon de News, Discussion et Klatsch - 22 March | 84 comments (84 topical, editorial, 0 hidden)

Re: Economy and Finance (4.00 / 3)

This plus the paper showing bankers cost more than they produce is deadly.

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Sun Mar 21st, 2010 at 11:56:59 PM EST
[ Parent ]

The end of Business as Usual n/t (none / 1)

The brainless should not be in banking -- Willem Buiter

by Carrie (migeru at eurotrib dot com) on Mon Mar 22nd, 2010 at 04:51:17 AM EST
[ Parent ]

Re: The end of Business as Usual n/t (none / 0)

Recognition of the end of Business as Usual will be coming soon to an economy near you.

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Mon Mar 22nd, 2010 at 03:53:38 PM EST
[ Parent ]

Re: Economy and Finance (none / 1)

I missed that paper? Who wrote it?

by Metatone (metatone [a|t] gmail (dot) com) on Mon Mar 22nd, 2010 at 07:23:21 AM EST
[ Parent ]

Re: Economy and Finance (none / 1)

See Sven's diary: What are they worth? (December 14th, 2009)

A total of six different jobs were analysed to assess their overall value. These are the study's main findings:
The elite banker
"Rather than being wealth creators bankers are being handsomely rewarded for bringing the global financial system to the brink of collapse
Paid between £500,000 and half a million and £80m a year, leading bankers destroy £7 of value for every pound they generate".

The brainless should not be in banking -- Willem Buiter

by Carrie (migeru at eurotrib dot com) on Mon Mar 22nd, 2010 at 09:23:10 AM EST
[ Parent ]

Re: Economy and Finance (none / 1)

But bankers are not the worst:

Advertising executives
The industry "encourages high spending and indebtedness. It can create insatiable aspirations, fuelling feelings of dissatisfaction, inadequacy and stress. For a salary of between £50,000 and £12m top advertising executives destroy £11 of value for every pound in value they generate".
Tax accountants
"Every pound that a tax accountant saves a client is a pound which otherwise would have gone to HM Revenue. For a salary of between £75,000 and £200,000, tax accountants destroy £47 in value, for every pound they generate".

The brainless should not be in banking -- Willem Buiter

by Carrie (migeru at eurotrib dot com) on Mon Mar 22nd, 2010 at 09:24:09 AM EST
[ Parent ]

Re: Economy and Finance (4.00 / 2)

To Chris Cook's proposed "nega-watt", we can add the nega-buck, the nega-pound and nega-euro, but at least nega-watts served a socially useful purpose.

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Mon Mar 22nd, 2010 at 11:25:02 AM EST
[ Parent ]

European Salon de News, Discussion et Klatsch - 22 March | 84 comments (84 topical, 0 editorial, 0 hidden)

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