The view that banks are solely to blame for all the troubles that followed the subprime crisis. Exaggerated reports played up by the mass media, such promising high ratings figures, about individual misconduct created the impression that mafia-like structures prevailed in the financial sector as a whole. Even pretend experts on talk shows, failed poets, crooners idolized by young people, and rock bouncers, as well as many other popular opinion leaders, felt compelled to denounce the banks. Professional demonstrators organized “protest marches” against the banks; a tent camp was set up in front of the ECB building in Frankfurt. When questioned, the mostly young protesters camped there were unable to explain what the ECB’s tasks were. – All this also led to a discrediting of the hitherto respected profession of bank employee. – Opinion formers and politicians are constantly demanding that all institutions – build up more equity capital, – increase their liquidity, – at the same time pay additional taxes and fill bailout pots, – forego state guarantees, – shift parts of their business to central counterparties, – give up other areas of activity or completely disintegrate, – cap bonuses, – write a bank will as a precaution and prepare for bankruptcy; in other words: make less profit, but transfer more of it for all possible purposes or stash it in the balance sheet, and in all of this – if possible, do not extend loans above an interest rate of 0.3 percent and, for the poor, even without interest. – See resolution mechanism, unified, banking power, bankers, bank failure prevention, bank will, bonus system, Citigroup bonus system, financial capital, financial sodomite, financial terrorist, high-speed money, fee, hunting money, million grave, employee accountability, offshore leaks, practice, ramp, sleeping money, shitstorm, bonus, compensation, compensation system, executive pay, loss absorption, personal.
Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent!
University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/