Commerzbank fat cats want boni over 4 times higher than last year's profits

[Skybird]

One of these moments when even I am caught by a story by surprise, being left speechless.

In 2008, the second biggest bank of Germany, the Commerzbank, was being bailed out with billions of blackmailed taxmoney robbed from the ordinary people.

The Commerzbank in 2013 made a profit of some 77 million, still being in struggle. Shareholders will be payed no dividends before 2015 at the earliest.

The top management and the two subordinate levels of hierarchy now try to secure themselves boni of over 300 million - more than four times as much than the bank won in profits last year. The top boss of the board says they need that in order to be properly motivated for the work in the future.

That they are only employees - overpayed employees, and that they need to eat substance reserves of the bank worth over 220 millions, and that shareholders since years have not seen dividends, is completely ignored. If needed, the bank can be bailed out again with protection money that was blackmailed from the ordinary people.

I see no reason to try communication aiming at insight and behavior modification, if there is no shared basis in terms and moral values on which such communication could ground. Therefore my recommendation is this: shoot them all. It's the only way to get rid of this destructive plague that destroys our world by monopolism. Save them - and they will continue with what they are doing.

Without a state intervening on behalf of such criminal banks, such banks already would have been eaten up in competition for the most and collapsed, having driven customers away by betraying their trust. Well done, Father State - once again.

It is worth to be remember that the first German banks getting into messy troubles in the wake of 2007, were the so-called Landesbanken - which traditionally are parking lots and pensioner resorts for politicians and thus are under strong political influencing and managing. What they see in political regulation and political corruption, they lack in competent staff and competent management. The losses they caused for the German economy and blackmailed tax payers, ranks in the high billions.

whatever the answer could be to the greed and selfishness of bankers, and the high level of monopolism and corruption there - more state regulation hardly can be the answer. The current system is doomed to die, and that is a good thing. Then, a new value-based currency must be implemented, with virtual and paper money being banned. The fractional reserve system, must be banned and turned into a taboo. Finally, central banks must be dismantled immediately, and political legislation and government must be forbidden to intervene and to mess around with "money control", "money printing", "controlling the amount of circulating money" and so on. Politicians must be shot on sight if they dare to try fiddling around with dangerous ideas like that they must and should control or create money and must or should define how much it should be worth. Let money be traded on the market just like an ordinary other good, which it effectively is. We must say goodbye to this in the long run self-destructive Rooseveltian idea of New Deals being something positive. The concept is nothing positive, in the long run, but it turns what has remained of former wealth into credit and poverty. A candle that burns twice as bright, burns only half as long, there is no magic trick or shortcut to betray causality.

The cause at the basic root of it all of course is excessive spending by the state. One cannot consume oneself rich, one cannot found wealth by investing credit. You can only invest what is yours in order to create future wealth, in other words: you have to save first, and then invest the savings, you must resist the temptation to spend more than you can afford by your actual income. That is true for families. For individuals. For banks. For states. Its the harder way, yes. But its the only way. Some years ago, there was a Nobel price given to the Indian inventor of micro credits for poor people in rural areas. The idea was celebrated. today - we see the facts created by this. MORE poverty, because credit never creates improvement and wealth, but only more poverty. The idea now is slammed even by economists who are no explicit "Austrians". Instead, what is to be told even the poorest of the poorest, is this: if you want to improve your life or that of your family, you need to save a little from the little you have - and collect that over some time, and then invest that. Many do not want to hear that. But it is the only way. Solving poverty by credits - is like a sparkler. Short minute of "Oh!" and "Ah!", and then it gets darker than before. What is true even for the poorest people, of course is true for communities and states as well. That's why politicians HATE it. Socialists as well. Ironically, capitalists in the real and original meaning of the term, know that very well, and thus are immune to falling for this trap. But most people have a hopelessly distorted understanding of the term "capitalist", and so this must sound paradox in their ears, if not even like heresy.

Not more, but less political regulation is the answer. But only in a world were people dare to destroy the corrupted, FUBARed system we now have. Else we end up in even more monopolism, not less. This is because the patient is terminally ill and only spreads his lethal infection, if the isolation is no longer enforced.

Less political regulation - from a poltical class that shamelssly open acts and behaves with an obvious feudalistic, aristocratic self-understanding that makes them think the sujects owe to them, instead of the other way around? Well, certainly no reason for optimism there, no matter how much protest and votings will take place. that in decades of elections nothing ever has been changed in the building of today's derailed systems, should be enough to make everybody think. It seems it doesn't. And that is where it indeed becomes hopeless.