Bankers "need to join real world" minister says

[bhaexpress]

So the RBS Directors will resign if they don't get their way ? Oh dear, how scary is that then ? Good, resign, f*** off, we (the taxpayer who bailed you out) won't worry about paying you wages or your grossly inflated pensions. Given the way you f***ed up leaving your bank in such dreadful financial shape it wouldn't be too hard to find replacements, they just need to have a brain !

 

[Super Steve Earle]

So the RBS Directors will resign if they don't get their way ? Oh dear, how scary is that then ? Good, resign, f*** off, we (the taxpayer who bailed you out) won't worry about paying you wages or your grossly inflated pensions. Given the way you f***ed up leaving your bank in such dreadful financial shape it wouldn't be too hard to find replacements, they just need to have a brain !

But these aren't the same directors. And the bonus cap can only work for the taxpayer if applied to the non gov't owned banks too. Otherwise guess wher the best people and the profits will go

 

[beorhthelm]

All the time these banks are more or less nationalised, the fat cats should be treated as every other public sector worker and expect no bonus and a pay freeze. ...
I have no problem with the "rank and file" getting some kind of "performance bonus", if it's traditionally the way they get paid.

people say this alot, but the two points seem at odds with each other. if we are to treat the banks as the public sector and limit their bonuses, that should apply to the "rank and file" the same as the guys at the top. just like the local council pays out bonuses of tens of thousands to the chief executive while it pays £250 to those hitting targets in the admin department. consider that the bonus pool is generated by the risk takers, not by the staff at the branch - i wonder what bonuses are like at say Nationwide. with a staff count of tens of thousands, a large chunk (majority?) of that £1.5billion bonus pool is going to the cashier and back office staff, cut the pool by 50% you cut everyones bonus by the same.

 

[User removed 4]

Just where IS this mythical place these tosspots are eternally threatening to bugger off to?

you've worked in the city and have plenty of experience, you KNOW FULL WELL that they will bugger off to other banks, you make yourself look silly (unnecessarily)with statements like that.

 

[User removed 4]

The bankers don't really get it.

Whilst in the good times they have generated billions upon billions for the UK economy, unfortunately their recent behaivour has led to complete oppositite.

All the time these banks are more or less nationalised, the fat cats should be treated as every other public sector worker and expect no bonus and a pay freeze. Us mortals obviously don't understand their funny banking ways, well sorry - we own you now and until such a time as we don't you play by our rules, not the ones that got us all in a mess.

I have no problem with the "rank and file" getting some kind of "performance bonus", if it's traditionally the way they get paid.

But should the guys at the top be walking away with a nice few million Christmas bonus this year ? Absolutely f*cking not.

]**sigh** No , its you that doesnt get it,what part of " the people that lost the money at RBS causing it to need a government bailout are long gone, the people that DO make money at this state owned bank are demanding that they be rewarded at the same level as a bloke who works for a non state owned bank, or they will f*** off and work for the said bank , who are chomping at the bit to employ this proven money maker, thus leaving state owned RBS with nobody to make them any money, and precious little chance of anybody who DOES make money moving there, because they know they will earn fuckall, THUS decreasing the value of this state owned asset" dont you understand ??

 

[Perry Milkins]

Having worked in the HO of a well known bank. I can see both sides of this story.

There are some truly talented pople who will go to the highest bidder if they do not get the market rate for pay and bonus. Equally there are some parasitical leechs who will also demand the same but do not know their vanilla arse from the proverbial derivative elbow.

Difficult innit....

 

[Lokki 7]

It seems quite clear to me that the bunch of so-called high-flyers who gamble with billions in futures markets contribute absolutely nothing to the security of the average person in the street. It also seems clear that any benefit these shysters bring to the national economy is an accident - the proceeds could just as easily fetch up in the pockets of other players in this multi-national whirligig that tries to pass itself off as some sort of "economy".

You clearly have no idea how financial markets work, what is traded or why, yet you can state as fact that it contributes nothing to the average person. It always amuses me when people start preaching about things they do not understand like some Harry Enfield pub character.

As for not getting a bonus from working in a clearing bank, quite right too. Do you know what the clearing process is?

 

[Buzzer]

Meanwhile ... in the real world .

Says the bloke who works in the public sector with a very nice subsidised pension and practically zero chance of redundancy. With all due respect, you know sod all about the real world and the wealth generators that keep you in your job.

 

[KZNSeagull]

]**sigh** No , its you that doesnt get it,what part of " the people that lost the money at RBS causing it to need a government bailout are long gone, the people that DO make money at this state owned bank are demanding that they be rewarded at the same level as a bloke who works for a non state owned bank, or they will f*** off and work for the said bank , who are chomping at the bit to employ this proven money maker, thus leaving state owned RBS with nobody to make them any money, and precious little chance of anybody who DOES make money moving there, because they know they will earn fuckall, THUS decreasing the value of this state owned asset" dont you understand ??

I'm with you on this one, Bushy. The Investment Banking division is to make 6bn profit, so if the staff in that division have it in their contracts to get paid bonuses based on their own performance, then they should be paid. Simple. If they dont get their bonuses of course they will bugger off elsewhere.

What is wrong, is paying staff bonuses who do NOT meet their targets, but having never worked in Investment Banking then I dont know what criteria these bonuses are made up of.

The only way to stop or cap bonuses is to do it globally, which will never happen.

As someone else said, Banks generate a huge amount of tax revenue. Also, you still enjoy free personal banking in the UK do you not, as long as you are good? That would not happen if the banks did not generate enormous profits. You could have the SA model where they charge you for everything - paying money into the bank, taking it out again, direct debits, cheques, standing orders - everything. I'm sure you'd all enjoy that.

 

[adrian29uk]

I'm so glad my job title does not rhyme with W****r.

 

[Perry Milkins]

I'm so glad my job title does not rhyme with W****r.

Good job there is no trade such as being a Hunt or Runt...

 

[User removed 4]

I'm so glad my job title does not rhyme with W****r.

Does it rhyme with jealous by any chance ?

 

[Perry Milkins]

You clearly have no idea how financial markets work, what is traded or why, yet you can state as fact that it contributes nothing to the average person. It always amuses me when people start preaching about things they do not understand like some Harry Enfield pub character.

As for not getting a bonus from working in a clearing bank, quite right too. Do you know what the clearing process is?

I do , I do...

 

[Dandyman]

]**sigh** No , its you that doesnt get it,what part of " the people that lost the money at RBS causing it to need a government bailout are long gone, the people that DO make money at this state owned bank are demanding that they be rewarded at the same level as a bloke who works for a non state owned bank, or they will f*** off and work for the said bank , who are chomping at the bit to employ this proven money maker, thus leaving state owned RBS with nobody to make them any money, and precious little chance of anybody who DOES make money moving there, because they know they will earn fuckall, THUS decreasing the value of this state owned asset" dont you understand ??

So is that "holding the country to ransom" or does that only apply to railworkers, postmen, etc ?

 

[adrian29uk]

Does it rhyme with jealous by any chance ?

Jelous far from it. Money is the root of all evilness.

 

[Buzzer]

Jelous far from it. Money is the root of all evilness.

Quite possibly, but a necessary evil nonetheless, don't you think?

 

[Buzzer]

So is that "holding the country to ransom" or does that only apply to railworkers, postmen, etc ?

Those railwaymen and postal workers don't have skills that are transferable and in high demand though, do they? Your comparison is poor.

 

[User removed 4]

Those railwaymen and postal workers don't have skills that are transferable and in high demand though, do they? Your comparison is poor.

Beat me to it buzzer.

 

[Monsieur Le Plonk]

]**sigh** No , its you that doesnt get it,what part of " the people that lost the money at RBS causing it to need a government bailout are long gone, the people that DO make money at this state owned bank are demanding that they be rewarded at the same level as a bloke who works for a non state owned bank, or they will f*** off and work for the said bank , who are chomping at the bit to employ this proven money maker, thus leaving state owned RBS with nobody to make them any money, and precious little chance of anybody who DOES make money moving there, because they know they will earn fuckall, THUS decreasing the value of this state owned asset" dont you understand ??

Bushy, you and Lokki you are absolutely right. At the same time, I have a whole lot of sympathy for those that come on here and feel aggrieved by the City and what it has contributed to the country's economic woes.
How are those not directly involved supposed to understand how it all works and who is to blame. If the FSA doesn't understand how the hell is anyone else.
The crux is that the City is wildly overpaid, inherently secretive and ridiculously under-regulated. But to change any of this now what be economic suicide and it is in the goverment's interest to do everything it needs to do to get the bankers to earn the biggest profit-related bonuses they possibly can. These other problems can be addressed in years to come.

 

[CHAPPERS]

I don't know what I think about this but what I do know is that there is a lot of posturing from politicians due to the election that is around the corner, it's unfortunate that this major issue is being used somewhat as a vote winner. A country should seek to look after it's highly skilled workers, not piss them off. Having done a bit of reading up on the matter (I knew dick all about his until he other day) I would think that nothing is going to come of this because nothing can come of it, unless we really do want to f*** ourselves over.