Fortis and ABN Amro should fold their tents and be forced into bankruptcy, its assets sold to repay the taxpayers. The government has no business being in the banking business; a helping hand, yes, but owning and running a bank... no!

By Bryan | May 20, 2009 3:41 PM

I guess that the Government is just a caretaker till the Banks are re-organised. (rid of toxic asset, excess staff. The Government is going to make a huge profit when they sell the Bank to the highest bidder.

By yugtrams | May 20, 2009 5:37 PM

Its in public interest to clarify the point of who owns what ? Does the Bank own the Tax Payers fund and as a result are asking for an open cheque book ? Do Tax Payers own the Bank ? What have the banks done for the public taxpayers and society ? There are urgent requirements for the sake of the financial sector of the regional and global businesses :- (1) Bank managers and fund advisors should be asked to return any bonuses received for the years 2008 and 2009. (2) The Taxpayers should focus on recovering the public debt lent to the Banks in the near future. (3) The Banks should be restructured, regulated independently, and there should be no bonuses rewarded to Bank managers and fund advisor, until the economy is back on track. (4) Remind yourself and don’t forget that public tax payers fund has been used to prop up these failing and bankrupt international banks, and as a result the country as a whole is carrying forward the public debt onto next two generations (directly onto our innocent grand children). (5) The more additional funds the Banks borrows from the public taxpayers, the more of the stake the public owns into the Banks ownership, and the next step would inevitably lead to nationalizing the Banking service under the administration of the Tax Office (which in turn would lead to double taxing policies). (6) When will the law courts exercise their duties under obligation and delegate their professional responsibilities ?
Professional negligence, case by case basis, when a bridge collapses an inquiry is conducted to determine who is to blame and those who are found responsible are brought to account by court of law. Similarly when there is an earthquake and the poor quality buildings collapse unexpectedly, there is an investigation, and similarly those responsible are brought to account. We would refer to this type of lack of care of duty as professional negligence (i.e. professional irresponsibility and lack of care of duty during the exercising of professional code of conduct). The questions which the news reporter should be asking on behalf of the public is, why has no BANK MANAGER or FUND ADVISER been brought to account for professional negligence or put into jail for bankrupting multinational banks, and bringing some countries down to their knees, and in the process bleeding and penalizing the interest from savings accounts of pensioners and saving conscious account holders, carrying forward public debt onto next two generations, and disrupting and forcing the status quo economies of the capitalist western countries into socialist type system economies ?

By Small Brother | May 20, 2009 7:10 PM