How are we going to punish the bankers

[blinding]

Its time to get down and dirty.What are we going to do to give these arrogant,greedy bankers one hell of a good kicking.Anyone that has dealings with banks in hard times will testify that they are not always that understanding of other people difficulties.It is time to give them a going over that they wil not forget for a long time.They have behaved in a criminally irresponsible manner.The investment managers have taken enormous bonus's while sowing the seeds of meltdown for the rest of us.They have contracts that will give them nice payoffs in the event that they are finally found out.
We certainly cannot rely on our spineless politicians many of whom are complicit to hand out the kind of punishments that these "thieving gurriers"will understand.
Suggestions on how to punish these avaracious slime balls are most welcome.It will have to be severe enough to drive home the message that if"you do the crime then you must do the time"

[mairteenpak]

Our auctioneers need a reckoning also

[stanley]

Our auctioneers need a reckoning also

TBH we must start at the top and as Albert is not fit then Bertie, rightfully has earned it, carries the can and must go to the Joy, have a feeling the bankers/estate agents and all the others will quickly fall into line once the piped piper from DNS is inside councelling the scissors sisters.

[Evestown]

We will pubish them like we always do: We'll force them to raise interest rates, cut back on credit, foreclose on loans and, in very extreme cases, we will reduce their bonuses.

[expat girl]

Suggestions on how to punish these avaracious slime balls are most welcome.It will have to be severe enough to drive home the message that if"you do the crime then you must do the time"

This will require imagination, because, while they richly deserve it, hitting the banks while they're down will just hurt Joe and Josephine Soap's savings, pension, and ability to draw down a mortgage

I was going to evilly suggest a 60% windfall tax on bonuses, but without similar statutory instruments being implemented in the US and UK, this will merely result in moving all of our remaining financial services abroad. A 50% tax band that kicks in above 150 K a year wouldn't be a bad move.

Perhaps we should just concentrate on Making Sure it Doesn't Happen Again.... maximum 90% mortgages (unless the mortgage holder can prove they will do extensive value enhancing renovations), and maximum lend of 3x joint salary. I would also recommend incentives for savers...should make 'em shore up their capital base. Stamp duty should be reformed to a capital gains style tax where one only pays tax on excessive above inflationary profits made on a house since it was bought. Primary residences included. That should put a stop to crazy bubbles. Finally, make mortgage bonds illegal. That should cut profits and keep housing prices on an even keel! Besides which, if people know they can only borrow 3x joint income, it then makes it easy for people to work out a floor to the property crash... the average house should cost 3x the average double income. I'm sure the nice people at the CSO or the Rev could tell us what the average joint income is......

It's called tax reform. I hope Lenihan is planning on some

[zakalwe]

Suggestions on how to punish these avaracious slime balls are most welcome.It will have to be severe enough to drive home the message that if"you do the crime then you must do the time"

This will require imagination, because, while they richly deserve it, hitting the banks while they're down will just hurt Joe and Josephine Soap's savings, pension, and ability to draw down a mortgage

I was going to evilly suggest a 60% windfall tax on bonuses, but without similar statutory instruments being implemented in the US and UK, this will merely result in moving all of our remaining financial services abroad. A 50% tax band that kicks in above 150 K a year wouldn't be a bad move.

Perhaps we should just concentrate on Making Sure it Doesn't Happen Again.... maximum 90% mortgages (unless the mortgage holder can prove they will do extensive value enhancing renovations), and maximum lend of 3x joint salary. I would also recommend incentives for savers...should make 'em shore up their capital base. Stamp duty should be reformed to a capital gains style tax where one only pays tax on excessive above inflationary profits made on a house since it was bought. Primary residences included. That should put a stop to crazy bubbles. Finally, make mortgage bonds illegal. That should cut profits and keep housing prices on an even keel! Besides which, if people know they can only borrow 3x joint income, it then makes it easy for people to work out a floor to the property crash... the average house should cost 3x the average double income. I'm sure the nice people at the CSO or the Rev could tell us what the average joint income is......

It's called tax reform. I hope Lenihan is planning on some

i wouldn't hold your breath!

[The OD]

Suggestions on how to punish these avaracious slime balls are most welcome.It will have to be severe enough to drive home the message that if"you do the crime then you must do the time"

This will require imagination, because, while they richly deserve it, hitting the banks while they're down will just hurt Joe and Josephine Soap's savings, pension, and ability to draw down a mortgage

I was going to evilly suggest a 60% windfall tax on bonuses, but without similar statutory instruments being implemented in the US and UK, this will merely result in moving all of our remaining financial services abroad. A 50% tax band that kicks in above 150 K a year wouldn't be a bad move.

Perhaps we should just concentrate on Making Sure it Doesn't Happen Again.... maximum 90% mortgages (unless the mortgage holder can prove they will do extensive value enhancing renovations), and maximum lend of 3x joint salary. I would also recommend incentives for savers...should make 'em shore up their capital base. Stamp duty should be reformed to a capital gains style tax where one only pays tax on excessive above inflationary profits made on a house since it was bought. Primary residences included. That should put a stop to crazy bubbles. Finally, make mortgage bonds illegal. That should cut profits and keep housing prices on an even keel! Besides which, if people know they can only borrow 3x joint income, it then makes it easy for people to work out a floor to the property crash... the average house should cost 3x the average double income. I'm sure the nice people at the CSO or the Rev could tell us what the average joint income is......

It's called tax reform. I hope Lenihan is planning on some

i wouldn't hold your breath!

I would also add 'good luck with that....'

[TheBear]

<Mod>Economic discussions should be posted in the Economy forum. It's not rocket science.</Mod>

[droghedasouth]

75+% reduction in the value of Irish banks is enough punishment for anybody.

What do you want - public hanging?

[smitchy2]

Banks have taken fair punishment on the stock exchanges.
I do think the banks were very lax but many people here get themselves into debt they cannot handle.
Unfortunately your hand is not held throughout life- you don’t take everything just because it is on offer.