UK has 75 percent of EU’s millionaire bankers

EU Observer ^ | 01.12.13 @ 08:43 (Dec. 1) | Benjamin Fox

[Olog-hai]

More than 75 percent of Europe’s banking millionaires are based in the UK, according to a report by the EU’s bank watchdog.

More than 2,700 UK-based bankers were paid more than €1 million in 2012, compared to a further 794 across the rest of the EU. Germany was a distant second with 212, followed by France with 177. Ten EU countries had no banking millionaires.

The data, contained in the London-based European Banking Authority annual “High Earners” report, reveal the extent of the UK’s dominance of the banking rich-list. …

[coloradan]

How can it be that the act of borrowing money at low interest rates from central banks, and lending it out at higher rates, so as to collect the spread, is such a valuable service that those who engage in it should be so highly compensated? Could it possibly be that the rates at which central banks lend money to commercial banks is actually below the fair market value of the loans, and therefore amount to a market distortion, and this distortion both makes the bankers a lot of money, and also extracts this very same money from parts unknown, at least to John Q. Public? Who might be expected to get very mad when the extraction is discovered, at least based on the generous salaries of the bankers? (To say nothing of the boni.)

[pieceofthepuzzle]

Not bad for a ‘socialist’ country that too often has chastised the US for being uncaring capitalists...

[octex]

Just another reason the UK, France and Germany should abandon the EU, which is led by idiots in Brussels who only want to impose monetary penalties and huge dues.

The EU is just a ‘junior’ United Nations. They want to push their agendas and extract tons of money from members.

The US should drop from the UN and make them establish their headquarters in some other country. It is a cancer on the nations of the world and it’s slowly eating away at destroying societies everywhere with their goofy ideas.

[Olog-hai]

Asking Germany to abandon the EU is asking them to abandon their postwar dream. You’ll find too many German politicians that describe themselves as “passionate” about the concept of a united Europe, especially with Britain at the bottom. (The German populace could certainly do without the EU, though, and that’s how they feel.)

As for the UN, the USA has an obligation to destroy it, since it created it as Victor Frankenstein created his monster; but the UN is far more deliberately malicious than Mary Shelley’s fictitious protagonist.

[SeminoleCounty]

Only the cheerleaders of Executive Over-Compensation would think its ok for executives of companies so reliant on government be rewarded so much