By taking huge speculative bets, the too-big-to-fail banks actually added negative value to the world economy, causing great hardships to many people around the world, and the bankers still have the cheek to ask for astronomical compensation.

If a audit/law firm partner takes home xxx,xxx = no big deal.

If a doctor takes home xxx,xxx = no big deal

If a MP takes home x,xxx,xxx = gumble abit but ultimately accepted

So why when bankers take home xxx,xxx we get so much flak? The cost of living in Singapore is so expensive. We bankers work as hard (arguably harder) than the other professions, plus ours is a cyclical industry. We have families to feed too and like everyone we work to put food on the table and aspire the Singaporean dream.

Not to mention movie stars, sports stars, porn stars, etc

but, you must understand, the other professions provide an actual service.

you guys take people's money, give them 0.01% interest, loan it out to them again at 5%-15% interest and pocket the gains.

that's why the common people dislike you.

Well said brudda!! I couldn't have said it better myself!!

Am sure the people in Lehman Brothers worked v v hard as well making those sub prime bets and so do all the bankers selling the resulting CODs to unsuspecting customers. The banking industry is overpaid, attracting all the top brains....working hard too to suck the lifeblood out of their customers and barely looking out for their customers' interests.

I dont understand. Isnt it a known fact that FT are willingly to settle for less and work longer hours?

Why your friends company is hiring foreigners with higher payroll than locals? might as well hire local?

Cos they take care of their own kind. In big companies, it's hard to monitor if a particular hire is value for money.

While foreigners take care of their fellow countrymen, Singaporeans will continue with their infighting. It also doesn't help that the government is pro-foreigners.

Don't stereotype bankers. 99% of us weren't involve in those CDOs. So that means 99% of us are victims too. 99% of us are normal people, leading normal lives and trying to support our families.

itheyT hence,
 

I'm not a banker. Many type of banking, retail banking is one of the good type of services that lubricate the economy and help to improve the quality of life indirectly. As banking industry becomes sophisticated, they started to have dubious practices such as derivative trading and creation of CDOs. Integrity of some banks and bankers are in doubt. Personally, I blame the regulatory bodies.