The World's Worst Banker?

Discussions have been overly one-sided - shareholders / investors (mainly institutional) demand greater return over a short period of time, and constantly compare that to how well other organisations have performed. Banks which did not perform as well as their (in hindsight, excessive-risk taking) peers were punished and constantly benchmarked against their peers, some of which have collapsed spectacularly. Do shareholders really, genuinely believe that they are entitled to 20% compounded annual growth in their stock values when the cash rate is 5% - ie. 15% more return and not much more risk assumed? It's the relentless pursuit of ever higher returns with blatant disregard of risk by investors that have partly contributed to this. What we are seeing today isn't the doing of a particular group of people (CEO, regulators, politicians, etc), but a concerted global effort by everyone (mainly in the developed nations). At the root of this is, quite simply, greed. Greed, in everyone, from investors in real estate (with the illusion of ever-growing asset value, some even resort to explain why the prices can keep growing forever, using demographic shift to fit into what they observe) to the inland revenue / tax authorities / politicians (who are more than happy to see ever increasing tax revenues and lavish themselves with absurd amount of perks and remuneration), that has resulted in where we are today. I agree, the likes of Dick Fuld, Fred Goodwin and Chuck Prince, are to be blamed. If you were the investors that believed in excessive growth / return over your investment, and demanded it, you are to be blamed too.

I believe the title worst bank should go to Citi-Bank, Citi-Corp, whatever they call themselves. Their lobby changed the banking rules, they took on business lines of investments, insurance but where not successful in any of them. At the same time they treated the small customers badly, high late charges, no discussions possible, no mercy. Debts were inflated through the late charges and then sold to collectors as an asset to keep the profits inflated. Many companies sold their home-credit departments to Citicorp, like Sears, Home Depot, Limited, and what first looked like a step to get some new cash, it hurt their personal credit business to established customers over many years. I do not know, why tax payers should bail out this company which never showed any understanding, mercy, offered other way outs for any clients, in personal or commercial business.

It's not that hard I'll start the list for you Bernake, And Paulson they are definitely the Two biggest and crookedest bankers in Amerika

Maybe it Sbetter to point out good bank management . Good bank management that needs to be sent over to the poorly run banks to help them straighten out their mess.

For example, write an article on how the system can be helped.

Maybe that would make for better Journalism. Maybe its better to discuss PNC out of Pittsburgh, PA. They are great bankers.

To merely write a story bashing bad bankers is an easy write. Your audience doesn't have to even think. Its the same old bring up Word, bake at 350 for 45 minutes, Journalism.

What? No honorable mention of Kerry Killinger, CEO of Washington Mutual! The lucky breaks the bank got when American Savings, Great Western Bank and Home Savings (all of California) fell into his lap. Overnight they became a several hundred billion dollar bank from a sleepy backwater Seattle S&L. Killinger psst it away. Please put him near the top of your criminal list! He certainly derserves it!

No honorable mention for Kerry Killinger of Washington Mutual? He should be the poster boy for having a saleman as CEO of a large bank. Yes, and he had good luck too, with American Savings, Great Western Bank and Home Savings (all of California) fall into his lap. Please put him near the top, he deserves it!

Well the only plausible solution is for them to give back/up the financial freedom they now enjoy, make them like the rest of us laymen.

these guys should all be tried as criminals and given the death penalty for the financial havoc they have created . they are all traitors

This guy makes Ken Thompson who was fired from Wachovia (soon to be Wells Fargo) look compentent.

Whether you call them bankers or financiers doesn't matter; they all have ruined their companies because of greed!! And Paulson and Bernake are no better giving to all the Wall St. big shots who don't deserve a dime for running their companies into the ground. Does anyone out there even have any common sense?? I thoroughly doubt it!

I'm a shareholder and I don't demand anything, so quit trying to deflect the blame. The truth is that these criminals have learned how to manipulate and game the system so that fora short period of time everything looks high-flying and a few people are making a lot of money. I wonder how much money Mr Goodwin was able to walk away with? May his heirs be as lucky as Ken Lay's!

Boards of directors and stockholders demand growth numbers that can not be made without taking the same risks that the dopiest risk taking competitor is taking. We reward the lunatics with blinders on with everything their hearts desire. We get exactly what we deserve when we rewrite the rules of safe conservative banking for the convenience and political ambitions of people who have no clue of what their impacts WILL be. Quit thinking outside the box, the box is there for a reason. You grandfather the banker made that box for you, stay in it!

The awards should start with Alan Greenspan, Mr De-Regulation.

Boards of directors and stockholders demand growth numbers that can not be made without taking the same risks that the dopiest risk taking competitor is taking. We reward the lunatics with blinders on with everything their hearts desire. We get exactly what we deserve when we rewrite the rules of safe conservative banking for the convenience and political ambitions of people who have no clue of what their impacts WILL be. Quit thinking outside the box, the box is there for a reason. You grandfather the banker made that box for you, stay in it!

To the average person it is almost incomprehensible that this is happening in our country and in our world. There are too many people at the top of business with no moral background. How these people reach the top of their professions and their companies has to be a sin. Will the new administration be able to change the ethics of big business and banking? I seriously doubt it. There are too many men and women who seek power and wealth who will do anything to obtain what they want. We let sick people reach the top and then we wonder why we are in trouble.