Do you feel sorry for them?

[imamartian]

Lakshmi Mittal loses £600Billion in the current climate (don't quote me on the actual figures)... should we feel sorry for him?

Savings capped at £35k... and then £50k... should we feel sorry for them?
(i'd love to have £3.5k savings !!!)

Oh and J K Rowling earns £3M per week !!!!! professional footballers should be up in arms!!!...... she's only written a couple of kids' stories ffs !!!

 

[nickso]

Lakshmi Mittal loses £600Billion in the current climate (don't quote me on the actual figures)... should we feel sorry for him?

i might if i knew who the hell he is.

as for the rest of them i couldnt give a monkeys what they earn as long as they dont wave it in my face.

are you trying to tell me you wouldnt like to earn 3 million for "writing a few books?" too much of this jealousy goes on whereby someone derides another person for their earnings but the jealous one would probably have no problem cashing those cheques given the opportunity. if you want that kind of money do something about it dont just moan.


i cant feel sorry for someone who loses their earnings because they didnt take the appropiate steps to protect them in a clearly volatile market.

 

[tim west]

Mr Mittal built up his fortune through the steel industry.

Feeling sorry for them? well only in that that money could have been put to good use in feeding and providing facilities for the poor and thats now gone.

I believe no one should be that wealthy when others are dying in poverty, its morally wrong.

 

[weseeyou]

I agree with both responses wholeheartedly.
I'm sick of people knocking others that are prepared to get off their fat a*** and work hard and reap the benefits .
I also think it is tragic that the `lost' money couldn't have been used for so many worthy causes.
Any rich folk that don't use their vast reserves to aid local and national causes should have a % of their money taken away from them.

 

[tim west]

I agree with both responses wholeheartedly.
I'm sick of people knocking others that are prepared to get off their fat a*** and work hard and reap the benefits .
I also think it is tragic that the `lost' money couldn't have been used for so many worthy causes.
Any rich folk that don't use their vast reserves to aid local and national causes should have a % of their money taken away from them.

They do its called tax , unfortunately the % is too small in comparison to the wealth.

 

[Donkmeister]

As Chris Rock said of divorce settlements:

If you've got $100M and you lose half, you ain't starving.
But if you're on $20,000 a year and you lose half...

Anyone who can lose $600Bn is a market maker and thus shouldn't be surprised when the market takes a downturn. He may have to cut down on the number of private yachts and castles he buys, but I'm pretty certain he's not going to be sat at the entrance to King's Cross tube with a can of spesh and a dog on a piece of string.

 

[breezer]

(i'd love to have £3.5k savings !!!)

I have saved some other letters as well as a k, they came from the frdge magnet set, i dont have a . though

 

[RF Lighting]

Could you carefully hacksaw the top off a letter i?

If you are using saws and stuff, you might need to ask a grown up to help you though

 

[Space cat]

Feeling sorry for them? well only in that that money could have been put to good use in feeding and providing facilities for the poor and thats now gone.

Although I agree entirely with this, I can see a snag. If my understanding of the banking system is correct, the money only existed on paper. When you put your money in a bank they lend it out to somebody else as quickly as they can.

I heard some politician on TV recently telling us that 98% of depositors' money was guaranteed. At this point our other half, who works in a bank, said that the remaining 2% owned half the money! That is to say, the 98% refers to the number of depositors, not the amount of money. This means that half the money in the banking system is 'at risk' so why not get it out now and spend it on good causes?

But therein lies the snag; the money simply isn't there. It's all gone out as mortgages, personal loans, overdrafts, etc, etc. If those 2% of depositors actually tried to withdraw all their money the banks would be finished. Northern Rock was a good example of this. The government guaranteed 90% of depositors' money, a guarantee that any fool could have told them was absolutely worthless. Result: Everybody and his dog wanted their money out - and the rest is history.

I'm no expert on economics but I suspect that the current global financial crisis has been caused by nervous depositors rushing to get their money out of banks 'in case they fail' or selling shares 'in case they go down'. It's a self fulfilling prophecy.