Fat cats ; time to go on a diet…

How would you react to a 90 per cent pay cut ?

leaders of  the seven companies that received bailout cash from the US government, will have to cut their salaries.

  Is this a big triumph for the little taxpayer in the midst of a downturn where unemployment rates are shooting up through the roof? Like this blogger suggests?

On air: Do banks have too much control over your life?

On air: Do you want banks to be good or just good at making money?

It’s a big statement from the man who effectively regulates Britain’s financial sector, and is supposed to be on the side of the banks: Lord Turner, the chairman of the Financial Services Authority (FSA) in the UK thinks banks are “socially useless” and wants to tax them to stop excessive bonuses.

Talking Points 14th October

The world’s share markets are happier today, as government’s all over the world intervene. George Bush is expected to announce another multi billion dollar bank rescue. It’s a partial nationalisation from an administration that championed deregulation and ‘hands off’ government. A surprise to some, but not to everyone.

Should politicians help out the banks?

In a move designed to prevent the credit crisis causing more damage to the banking system and the economy, the Bank of England has announced details of a $100 billion bank rescue plan.

How can you just lose a trillion dollars? Where has it gone?

The International Monetary Fund said this week that losses from the global credit crunch could end up totalling a trillion dollars. But where does that money go? How on earth do you lose a trillion dollars? It’s not like just dropping your wallet on the bus? When one person loses surely another person gains?