Banking Bonuses and the Financial Crisis

Banks' bonus culture and management incentives are an important element of the Irish and American crisis. The system was defective from the beginning; bankers adventured to get short term bonus regardless of the long-term impact on the economy. In the financial system, the bonus culture is unique. Banks will provide a high proportion of compensation based on bonus-driven remuneration. For bank employees, their annual salary is very high. This gives banks the incentive to provide high risk loans and mortgage loans.

In my first article I will explain how bankers can maintain obscene bonuses in the financial crisis while preventing the millions of people from losing their homes by controlling the appropriate government department. did. Why is it fine to pay no penalty? After rescue, bankers' criminal behavior continued to increase. Over the past few months the New York Times broke the story that Wells Fargo counterfeit customer account scandal was very underestimated at the time - and caused suspicion until the news cycle had passed. Simultaneously, employees of Wells Fargo sold unnecessary car insurance to low-cost borrowers, a new scandal occurred, and about 20,000 cars were mistakenly collected.

But then the financial crisis began. As of March 2008, Bear Stearns is in bankruptcy. By the autumn of 2008, Merrill Lynch was sold to Bank of America. With a controversial move, Merrill Lynch is in an unstable state, but awarded bonus to its top management. The US Securities and Exchange Commission attended attention to Merrill Lynch and Bank of America bonus and appealed that it did not correctly disclose payment.

Bit coins and block chains are direct countermeasures to the financial crisis that began in 2007. The crisis is the result of the central banking system, institutions that are "too big to fail" and opaque derivatives have almost destroyed the world economy. Bitcoin is a distributed financial system which is a dangerous response to crazy banks. Bitcoin's origin block even quotes the bank rescue plan. In addition to government intervention, Facebook has no motivation to change its policy. It is "too big to fail". It is the largest social media company and consists of the largest social media platform. By incorporating a unique approach to social networks, Facebook creates parasitic relationships, not symbiotic relationships with users. It chewed our data and hollowed us out. When it is overused, it starts to leak out our data to untrusted parties. There is at least one election