The financial industry is not the engine of capitalism

[winner69]

Some on Sharetrader are slightly peeved at the PGC giving management a lot of free shares for doing some good work .... is it just lining managements pockets?

This is an interesting piece from 'Pragmatic Capitalism'
http://pragcap.com/the-financial-industry-is-not-the-engine-of-capitalism

The chart is very interesting ...... are the high salaries in the financial the cause of the worlds problems and are they sustainable ... as the writer points out ....USA now appears to be growing back into the same exact animal that existed before the credit crisis. Truly a crisis wasted

3193

[percy]

More deeply concerned rather than slighty peeved.
If we do not learn from history,we are doomed to repeat it.
Bad corporate governance,bad lending not understanding the risks,greed,huge bonuses,free shares, free share options,led to GFC.In PGC's case they followed overseas banks and lent to people who were unable to repay their loans.In PGC's case they lost all of shareholders money.! PGC had to go to shareholders to recapitalise the business.All investors' in GPG know bonus/free shares only moved wealth from shareholders to directors.
As winner69's article concludes "TRULY A CRISIS WASTED".
Lesson learnt. NO, PGC are giving management free shares for doing what they were employed to do.
A year ago PGC shares traded at 48cents.Last sale on Friday 36cents.So the shares have lost 25% in a year.

[winner69]

Percy - they will all get their fair dues one day but in the meantime they can live the good life on their well earnt earnings

You should study generational archetypes and how these impact saecular cycles to get a feel for a likely outcome

Core to this subjectis that generations move history along and prevent society from suffering too long under the excesses of any particular generation.

Neil Howe has written a lot on this subject. He thinks we are in the early stages of what he calls the Forth Turning which he describes as a CRISIS

This is an era when institutions are suddenly proven ineffectual or torn torn down to build something entirley new. It is a time of economic rebuilding of public, social, political and economic life - usually in response to an urgent crisis that seems to threaten society's survival

The last time there was a Fourth Turning was the 1930's - post depression days which some historians have called the decade of community and belonging.

The younger generations will lead the change - righting the world of the excesses of the earlier generations (mainly Baby Boomers and early X-ers)

You can see this playing out in Greece, Ireland and Great Britain and now spreading to to the Middle East in places like Tunisia and Egypt - the young are pissed off with the old and want more equality and are demanding change. The world is revolting

One day the guys at PGC might suffer as well when maybe shareholders revolt as well and demand change

Just a Sunday rave .... and assuming you the same generation as me Percy we might see a more sane and sustainable world for our children and grandchildren to grow up in - because our generation has stuffed the world big time - or allowed the world to be stuffed eh

[percy]

Percy -
The younger generations will lead the change - righting the world of the excesses of the earlier generations (mainly Baby Boomers and early X-ers)

You can see this playing out in Greece, Ireland and Great Britain and now spreading to to the Middle East in places like Tunisia and Egypt - the young are pissed off with the old and want more equality and are demanding change. The world is revolting

One day the guys at PGC might suffer as well when maybe shareholders revolt as well and demand change

Just a Sunday rave .... and assuming you the same generation as me Percy we might see a more sane and sustainable world for our children and grandchildren to grow up in - because our generation has stuffed the world big time - or allowed the world to be stuffed eh

Yes well,I hope you are right with your children,and grandchildren,as mine look as though they will need supporting by me for years to come,and I have put off my planed retirement until I am 95 as I expect the great grand children will need a lot of support as theit parents will not have supplied it. LOL,how's that for a Sunday rave. I will finish off with the last sentences from the book "The Big Short" by Michael Lewis.
"Something for nothing.It never loses its charm."

[winner69]

A good read that 'The Big Short' - you might enjoy 'Hoodwinked' by John Perkins on much the same sort of subject

Thats noble of you not retiring until 95 so you can look after the grandchildren .... if you live that long you might be struggling to look after yourself .... because society not going to be that generous with the old in 20 to 30 years

[percy]

A good read that 'The Big Short' - you might enjoy 'Hoodwinked' by John Perkins on much the same sort of subject

Thats noble of you not retiring until 95 so you can look after the grandchildren .... if you live that long you might be struggling to look after yourself .... because society not going to be that generous with the old in 20 to 30 years

Look forward to reading "hoodwinked",thanks for the recomendation.
No, I am only going to retire from work at 95.I expect the great grandchildren will keep me in good health,so long as I am supporting them. !!!