Barclays Birdshites on Government Bailed Banks!

As both a Barclays customer and a highly vocal supporter of free-market economics, Mr Eagle Eye is sqwuaking with delight at the latest figures released by the Blue Eagle Bank.

In spite of an enormous rise in impairment payments, up 79% to £2.3 billion, the Blue Eagle's profits spread their wings and soared to an impressive pre-tax £1.4 billion, an increase of 15% on the same quarter a year prior.

And a critical point that Mr Eagle Eye wants to flap his feathers at is that Barclays has shunned Government money! They have taken not a single penny from the taxpayer to fix their mistakes, unlike just about every other bank on the High Street, in particular, Lloyds, who I will shite on later in this post!

But Mr Eagle Eye is esctatic with glee that there is at least one major UK Bank that thinks that UK Bank Bailouts are a nestload of shite. Whilst Lloyds and RBS have become bloated overstuffed turkeys that can no longer fly due to government controls, Barclays soars high in the free and liberal skies of capitalist economics!

Let this be a lesson to ye all! Governement money comes with so many strings and so much red tape that it just is not worth it. Plus, you'll piss off the taxpayer, and more often than not, taxpayers are also potential customers for your business. So what will it be, asks the benevolent Mr Eagle Eye? Thou hast two options hitherto:

• You can refuse the government money! Sure, you might have needed it short term, to plug your balance sheet or appease your stakeholders, but for goodness sake, this is business! Restructuring the organization, sacking the shite, and reviewing processes and workflows are but three things that can be acted on decisiveley to not only bring quick results, but streamline the company in the longer term. When the market starts to pick up again, not only will your authority not be undermined by state control, but you won't have repayments to hold back profits and investment! Also, you'll have a much more efficient workforce, that Mr Eagle Eye would applaud.
• And the alternative is to take the government money! You can wave bye-bye to your authority over your own business because the State wants in, and they will undermine your authority at every possible opportunity. Complacent in the 'security' of having what seems to be free money, your business will get lazy, inefficient, reducing cost-effectiveness by the egg-load! And when the market picks up, your company will be too saddled and slow to react and take advantage. Plus, the tax-payers will be getting pissed because their little big investment is actually turning into an epic fail. State-owned businessess are arse-shite, enough to make Mr Eagle Eye choke with repulse!

And, Mr Eagle Eye is receiving a breaking report that ten United States banks have failed 'Stress Tests' and are apparently in need of further bail out money. Obama and Geithner haven't got a clue, not a f**king clue, what they are doing. Although it is still too early to bash Obama as he has barely been in office for a Quarter, Mr Eagle Eye does not predict great things from Obama, but that is a topic that requires a post all to itself.

However kids, if you have learnt one lesson from the magnificent wisdom and spectacular ego of Mr Eagle Eye, it is this!

Don't EVER take money from the Government!