Banks and losses

That is the point, there will be no dividends. That has implications on the pension funds as well. Without dividends they will have to start selling assets to meet the pension liabilities, there will be no new staff to contribute to the existing pensioners. As soon as the funds coming into the funds fall below contributions then we are in trouble.

The demographic nuclear time bomb is about to explode, the number of receivers of pensions soon will exceed the contributors to those schemes.

There is absolutely no value which you can give to shares. Some of the biggest holders of the banks shares are the current and former staff, they will lose everything.

Finally, the banks will soon start losing the income they get from actually managing the assets of the pension funds. The money they receive for safe custody and investment management fees will soon start affecting the profits of the investment banks. Also the assets they manage will no longer be able to be used to assist the corporate finance departments in their take-overs and mergers.