rivets in pinstripes need worry about their financial future, no worries.
Hartz IV receiver certainly was.
Few of the business elite will ever see barred windows from the inside. Elites of the political class not only protected, but also preserves and major financial losses by political friends. As ever takes a / s justice minister of a province rigid influence on public prosecutors and provides the independence of judges in question. Of course, all unofficial and clandestine.
So it was in the case Esser / Ackermann, then in the case Hartz, Siemens will also run the case, then the VW scandal, etc., and now also in the case of IKB bank failure.
If managers lightly estimated 6 billion euros (alone in the IKB bank, which included losses of other banks still do not) gamble, which now directly and indirectly, must be replaced by the taxpayer, the economic Tangentialschäden not be further increased & # 246; Hen, then one or the other attorney of house should be ready to start thinking about whether the proceedings should not be here in detail the allegations of continued infidelity. Or in short: if not in the banking scandal of the crime of an economic crime is present at the expense of the taxpayer. In this context, the handling of the political leaders in the banking scandal of the state of Saxony. Mr. Millbradt is generous As might announce his resignation. But a criminal prosecution or at least the inclusion of the criminal investigation this will probably fail. But as I said, should or would. Is not done. Good relations with the political class make it possible.
Instead, take the rivets in pinstripes in a kind of protective custody, freeing them from any responsibility, and send them with a golden handshake home.
you lose an entire bank with false speculations. However, if the former head of IKB weich.Kurt Beck (SPD) and Ingrid Matthaeus-Maier (SPD) belong to the same party. As chairman of the SPD, Kurt Beck is a tough cut on the plaster. "If managers are even with a giant bust even with million severance sent home, I can" understand the anger of the people, he said in an interview screen.
Ingrid Matthaeus-Maier has just very practical to do such a huge bust - and with managers who were sent home. The former Social Democrat politician since October 2006 Board spokeswoman for the state bank KfW, and this in turn is a major shareholder in IKB German industrial bank based in Dusseldorf. IKB would have gone bankrupt if it had not been rescued with five billion euros state money and another billion from other banks. The loss cost businesses
four of the five directors of the Institute the job. Bank chief Stefan Ortseifen admitted his post in late July immediately after learning of the difficulties. A few days later, Chief Financial Officer Volker Doberanzke resigned. In October, the directors were Frank Brown and Mark Guthoff field of board.
penetrated so far, strangely enough, nothing about it in public, how the contracts were terminated with these Miss managers. A first request for IKB also provides no clarity. With stakeholders was "confidentiality has been agreed," shares the institution succinctly. Whether compensation was paid, whether money flow transition, whether bonuses of recent years have been recovered - none of these issues may manifest themselves to the Institute. In Dusseldorf is the Law of Omerta.
It's about money. Ortseifen contract had been extended until just before the near bankrupt and had to run until October 2012. Last Fiscal year ending in March 2007, received the bench next to a solid content of 504 000 € a variable, performance-based compensation of one million €. High performance fee of 750,000 euros each cashed in addition to their fixed salary, the directors and Doberanzke Guthoff. The latter had also received just before the near bankrupt a new five-year contract.
The bankers can also look forward to high pensions. Ortseifen has the promise of a lifetime pension payment of € 378 000 a year - those are some 100,000 Euros more than the Chancellor deserves in office.
your pension is the bankers until the 63rd To age, with early departure but they have, according to the Annual Report entitled to a transitional allowance. According to the bank's internal rules, but it should only be paid if the termination is not due to a personal fault of the respective manager. As it considers the IKB now with this scheme? No comment.
It's absurd: In Berlin, a grand coalition debated excessive managers who earn much, but do little. But just at the bank, whose indirect major shareholder of the German government and their managers have laid one of the biggest false speculations of German economic history, is the question of Board contracts and settlements remain unanswered.
Ask KfW chief Ingrid Matthaeus-Maier: What does the State Bank on the procedures for contract terminations in her step-daughter IKB? And what line follows the KfW in this matter? The answer comes promptly. If it were indeed to "affairs of the Supervisory Board of IKB," they think it "for imperative "that IKB not hide longer, as they had dealt with the Exvorständen, writes Matthew Maier. She asked the IKB supervisory board chairman and former CEO Ulrich Hartmann, E. ON, "on compensation for former board members of the IKB - as far as is legally possible - to provide clarity to the public. "
And finally comes to banking secrecy. All four management contracts were terminated without severance pay, will now be indicated. Despite the enormous Losses and damaged information requirements has also been no sackings. Instead, get Ortseifen and his ousted colleagues until the end of the year and executive pay. The bonuses of the last fiscal year they are allowed to keep. A legal opinion has shown that there is no way to recover the money it is, in circles of the Supervisory Board. Transitional allowance is not paid while, but their pension entitlements may also keep the bankers.
financial terms, must the fallen IKB manager So do not worry. This is partly because they are well protected by a special management liability insurance against claims for damages. The premiums for this insurance, the company pays. Managers may happen a little - not even if they have breached their duties, for which there evidence in the case of IKB IKB gibt.Bei had the top people even secured very well. Following the recommendations of the Commission for good corporate governance (corporate governance) is always a suitable deductible be agreed for such insurance. Boards and supervisory boards have to pay personally for at least a portion of the damage their damage. When IKB is not true. Here they chose to provide insurance without any self-financing. Which is more expensive but ensures, even in difficult times a good night sleep.
your comprehensive cover to justify the bench top in the annual report as follows: "We have not changed the view that the agreement of a deductible is not likely to improve the motivation and sense of responsibility with which the Board members of the IKB perform duties and functions. "It is the last sentence in the joint report of the Executive Board and Supervisory Board on corporate governance. Signed him Ulrich Hartmann and Stefan Ortseifen 27 June 2007. Just one month later the bank was due to irresponsible speculation before Off.
Given the immense poverty in Germany, whose visage has now been recognized all inner cities, it is a social scandal that although time and again by certain parts of the Bu rgerschaft an unprecedented smear campaign against Hartz IV-people is unleashed, the true studs and parasites, but high reputation in the community . Enjoy
Rüdiger Jungbluth, Peter Christian Nowak
Peter Christian Nowak, Petra Karl, Dirk
Basic Editing: Tacheles - On behalf of the people!?
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The bending and nestle before a man is always a man unworthy. Whoever makes the worm can not complain afterwards that he is being violated.
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