Kidnappings and Bank Loans

In these times of recession, loans are hard to come by. But this Spanish builder certainly hit upon a novel way of getting one. He kidnapped his banker.

He needed money urgently, the company had stacked up large debts recently,” a police spokeswoman said.

He accosted his banker in a parking lot, told him lies about his family being taken hostage, and forced him to drive with him to Estepona. He then forced him to sign over his luxury car. He also forced the banker to transfer 1,500 Euros to his account.

‘The banker persuaded his kidnapper to let him call a colleague and told him, in code, that he had been kidnapped. Police tracked them down to an office in the town and seized the kidnapper as they left the building.’

‘Several thousand Spanish builders are expected to go bust this year as the number and value of house sales collapse and banks become ever more reluctant to lend to house buyers.’

Not only bankers are at risk for kidnappings, though.

In France, “managers have been held hostage at factories for up to 24 hours by staff angry about layoff plans in four separate incidents since March 12.

These ‘Bossnappings’ have put French President Sarkozy in a fix. He has to enforce the law. At the same time he does not want to cause any more unrest among workers in these times of economic recession.

‘Public opinion is split. A poll released on Tuesday found that 50 percent of people surveyed objected to bossnappings while 45 percent said they were acceptable.’

Desperate times call for desperate measures, they say. However, I wonder how it will all end if kidnappings are increasingly being viewed as legitimate means to put the affected party’s point across?

Does the end really justify the means? What do you think?




  1. 45 % say this is acceptable !?! thats some news. Its like some wily politician saying Prabhakaran is a good friend and not a terrorist. but the political agenda, we understand. What could be the public agenda !?! 45 % is a large number…!!Is Europe slipping into lawlessness !!?! 🙂


  2. Kavi- The news report doesn’t give details about the poll, so we can’t say if the results are reliable or not.But it’s true that people are increasingly resorting to this kind of behaviour.Do you remember Union Labour Minister Oscar Fernandes’ remarks after the lynching of a CEO that “The incident should serve as warning to managements, who should deal with workers’ problems with compassion,”Trade Unions backed these remarks.


  3. Hard times bring out the worst and the best in people. I think these “bossnappings” have some sort of a “moral” justification. When the times are good, nobody grudges the outrageous sums of money that bosses make. But when the bad times hit and it is mostly the lower staff that gets fired, then a class resentment does build up. “Always sunny, in the rich man’s world”…those memorable words of ABBA mustn’t be sounding so good to a lot of people these days!


  4. It is stunning to see that 45% thnk that it is acceptable!!! I guess its all the effect of the recession!!! Still difficult to believe..That statement by Oscar Fernandes was outrageous – and to think that trade unions backed it as well!! Wonder what else we are going to see !


  5. Vinodji- Kidnapping the boss may be understandable, but I do not consider it to be justifiable.Unfortunately it is a fact that the workers are hit the hardest. But is this type of behaviour the answer to the problems of recession?In any case, except in very exceptional situations, I personally agree with the concept of “Sadhana Suchita” (Purity of means).Smitha- Being the Labour Minister, I think Oscar Fernandes felt obliged to back the workers, no mater what they did. But the result was that he justified the killing.


  6. No, no. I don’t support this behaviour at all. Actually, I had in mind the manner in which top executives of some companies have given bonuses to themselves out of the bailout received from the government while laying ordinary workers off to cut costs.


  7. Vinodji- Yes, in the US and other countries where huge bailout packages have been given, the top executives behaved quite dispicably in giving themselves huge bonuses.


  8. Ends do not justify the means…Vinod, if you are talking about the bonuses AIG top brass received from the bailout money, well, they weren’t bonuses but retention money which was mentioned in their contracts…Whatever the case may be, American bosses get too much money…Japanese CEOs get much less…


  9. Manju, it is unfortunate that the disparities in incomes between CEOs and the lowest paid workers is growing beyond imagination. CEOs will continue to justify their drawings and whether we like it or not, the victims of this malaise are going to try ways to make them sit up and take notice!


  10. I guess we all want instant gratification these days. Anyway the bodyguard business will certainly be booming in the coming years!


  11. i think we might say it isn’t , but actually for us, its ok, coz we ain’t/can’t do anything about this.Moral : Take as much loans as you can, you’ve got supporting hands 😀


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