Banks announce bumper profits

Once more the big banks are in the news having made bumber profits for the quarter. This time being the turn of 2 of Britains biggest banks, HSBC & Barclays.

Of course the news is all about how the staff will get huge profits and yet somehow they always seem to show pictures of the tellars working the counters in a branch. Clearly its not the branches that make this money but the Investment Bank arms that has made the profits. When they talk about banker bonuses you can bet your bottom dollar its the traders and fund managers at the Investment Bank that will be making the millions in bonus's and shares, while the tellers that you see in the window are likely to get nothing on top of their already low wages.

I never quite understood the way the government never wants to run anything themselves yet demands that big business do things the way they do. Surely if they wanted to run things they could open their own bank and do things exactly as they wanted that way? In the mean time you have to congratulate the big banks for making big profits. After all as that starts to trickle down into the econonmy be it through more lending or bonus's being spent in bars and shops it will eventually feed the economy and release some much needed money into the economy.

I just wish it were the bank I worked that was making the announcements. Perhaps it is the begining of the end of the recession? Fingers crossed eh?