RBoS to report losses of £5bn and investment banking bonuses of £1.3bn

[Horney]

They are worth every penny they get paid. After all, they study and train for years, at great personal sacrifice, to reach the level of competence needed to lose billions of pounds.
I know I couldn't do it...I only have advanced qualifications in mathematics and economics. It is a skill, nay a science, nay an intuituive foresight that they possess and very few people in the modern world could hope to achieve these heights.
I look on in admiration.

 

[Tom Hark Preston Park]

I'm sure bushy will be on here tomorrow attempting to defend the indefensible every two minutes throughout his working day

 

[Spun Cuppa]

They are worth every penny they get paid. After all, they study and train for years, at great personal sacrifice, to reach the level of competence needed to lose billions of pounds.
I know I couldn't do it...I only have advanced qualifications in mathematics and economics. It is a skill, nay a science, nay an intuituive foresight that they possess and very few people in the modern world could hope to achieve these heights.
I look on in admiration.

Nine and three halves out of ten

 

[beorhthelm]

These people probably earn more in a day that I am in a year and I can guarantee I work much harder. C*nts.

why dont you get a job in a bank then? same field as you are already in after all, whats stopping you?

as for the losses vs bonus, is this because people dont understand "paper" losses? i recall Vodafone had the great loss in UK history one year while increasing its dividend and having the highest record cash flow. the losses where in righting down the value of merged business and other accounacy details. has RBoS actually lost 5 billion or just revalued its assests? the bonuses are payed out on the basis of the investment arm and the dealers/brokers etc meeting their targets. they must have made a shed load of money to build up a bonus pot that large.

 

[Tooting Gull]

No, no, no, you've all misunderstood the situation and I'm sure all the usual 'bankers' will be along presently to set you right.

We have to bale them out, because otherwise it would all collapse and be like Mad Max. Banks are different to any other businesses in the world, they thoroughly deserve to be allowed to make billions with no risk because if they screw up we'll give them a handout. And that's fair. Apparently.

Good to see that Mandelson the other day was confirming investment in education for everyone's kids was being hit by the amount we've spent on the banks. So let's chalk another one up for the good old bankers, they've also f**ked it all up for future generations. Utter tossers.

 

[Tom Hark Preston Park]

No, no, no, you've all misunderstood the situation and I'm sure all the usual 'bankers' will be along presently to set you right.

We have to bale them out, because otherwise it would all collapse and be like Mad Max. Banks are different to any other businesses in the world, they thoroughly deserve to be allowed to make billions with no risk because if they screw up we'll give them a handout. And that's fair. Apparently.

Good to see that Mandelson the other day was confirming investment in education for everyone's kids was being hit by the amount we've spent on the banks. So let's chalk another one up for the good old bankers, they've also f**ked it all up for future generations. Utter tossers.

Steady on there old chap! Moderate your language and pay homage, otherwise these wondrous beings will depart our shores to save thruppence a pound on that bit of their tax that they can't quite offset and their children will be forced to grow up speaking German or Japanese. Won't somebody PLEASE think of the children?

 

[drew]

These people probably earn more in a day that I am in a year and I can guarantee I work much harder. C*nts.

Is it me or does that smell a bit like the politics of envy!!!!

 

[Uncle Spielberg]

Is it me or does that smell a bit like the politics of envy!!!!

and the fact their a bunch of cnuts

 

[folkestonesgull]

Steady on there old chap! Moderate your language and pay homage, otherwise these wondrous beings will depart our shores to save thruppence a pound on that bit of their tax that they can't quite offset and their children will be forced to grow up speaking German or Japanese. Won't somebody PLEASE think of the children?

exactly. There are obviously only a finite amount of superbeings on this planet who have the skills to take a punt on whether something will either go up or down in value...we must ensure these demigods are happy or the end of the world will come....

 

[ROSM]

what about the banks that weren't bailed out? Or is this collective envy that we're seeing.

It's like saying that because one Mortgage Broker is a low life double dealing money grabbing git that they all are.

Or because one recruitment consultant is low life scum they all are

For those banks who lost money through negligence and incompetance and those responsible then the full might of venom on them.

For those who were largely sensible and for those who are driving the recovery then they should get a reasonable market rate for that.

 

[Titanic]

These people probably earn more in a day that I am in a year and I can guarantee I work much harder. C*nts.

and the fact their a bunch of cnuts

Perhaps you should work a bit harder on your spelling?

 

[Uncle Spielberg]

what about the banks that weren't bailed out? Or is this collective envy that we're seeing.

It's like saying that because one Mortgage Broker is a low life double dealing money grabbing git that they all are.

Or because one recruitment consultant is low life scum they all are

For those banks who lost money through negligence and incompetance and those responsible then the full might of venom on them.

For those who were largely sensible and for those who are driving the recovery then they should get a reasonable market rate for that.

Harsh

 

[Bozza]

It could have been so much better. FFS.

Mr Hester told BBC Radio 4's Today programme RBS had lost out by not paying bigger bonuses.

"We've had a small experiment in this respect... some of our best-performing people have been leaving in their thousands," he said.

"The people who left us last year, I believe, would have increased our profits by up to a billion pounds beyond the ones that we've got."

 

[WATFORD zero]

Think you will find that the more you get paid the more risk you ha ve to take on and be responsible...

I am sure you may well work much harder than people in the bank, but then again your probably not as responsible for things as they are

Can i suggest that anyone who runs their own business, risking their own money with their decisions has a wee bit more responsibility

But maybe making a profit in a growing market is a skill which needs rewarding

 

[Simster]

No, no, no, you've all misunderstood the situation and I'm sure all the usual 'bankers' will be along presently to set you right.

We have to bale them out, because otherwise it would all collapse and be like Mad Max. Banks are different to any other businesses in the world, they thoroughly deserve to be allowed to make billions with no risk because if they screw up we'll give them a handout. And that's fair. Apparently.

Good to see that Mandelson the other day was confirming investment in education for everyone's kids was being hit by the amount we've spent on the banks. So let's chalk another one up for the good old bankers, they've also f**ked it all up for future generations. Utter tossers.

It's hard not to feel aggrieved towards the bankers, but the simple fact is that you cannot afford for your banking system to go to the dogs. What really annoys me is that because of this fact, the industry should be regulated far *tighter* than it is, yet I see no signs of anyone really doing that.

 

[sten_super]

I appreciate that the bank, as a whole, is not going to meet it's commitment to increasing lending, and other parts of the business have made a loss. However, the investment banking arm of RBS made an operating profit of £5.7bn; i.e. £7bn if you take out bonuses. Approximately 18% of the division's profits were therefore paid out as bonuses. Is that really so outrageous?

 

[MikeySmall]

These people probably earn more in a day that I am in a year and I can guarantee I work much harder. C*nts.

For someone who spends so much time on a football message board I doubt that is true!!

 

[Billy the Fish]

It's hard not to feel aggrieved towards the bankers, but the simple fact is that you cannot afford for your banking system to go to the dogs. What really annoys me is that because of this fact, the industry should be regulated far *tighter* than it is, yet I see no signs of anyone really doing that.

Does anyone actually know WHY we can't let it go to the dogs?

I genuinely don't understand all of this stock market stuff but it does interest me, so if anyone can throw in a few likely real life scenarios then that would be good.

Also can someone confirm that a similar thing happened in the 30s i.e the banking system goes down so the govenments just do what the banks tell them because they're scared and the banks come out the winner.

Like TG said, they all trott out some line about the whole country collapsing and us living in some post apocolyptic world, but I just can't imagine it happening. There would be winners and some very big losers - the biggest losers would be the people who hold the majority of the worlds wealth and surprise surprise they're the ones who tell us that we can't let it collapse. By bailing them out with taxpayer cash (or debt), those people are the only winners.

Mabye I just don't understand it, but to me the whole thing doesn't make sense. Get rid of it and think of a new more stable and more fair system, than big corporations and a handful of people sitting on the entire worlds wealth and resources.

(shit I'm starting to sound like a communist )

 

[Easy 10]

Does anyone actually know WHY we can't let it go to the dogs?

I genuinely don't understand all of this stock market stuff but it does interest me, so if anyone can throw in a few likely real life scenarios then that would be good.

Also can someone confirm that a similar thing happened in the 30s i.e the banking system goes down so the govenments just do what the banks tell them because they're scared and the banks come out the winner.

Like TG said, they all trott out some line about the whole country collapsing and us living in some post apocolyptic world, but I just can't imagine it happening. There would be winners and some very big losers - the biggest losers would be the people who hold the majority of the worlds wealth and surprise surprise they're the ones who tell us that we can't let it collapse. By bailing them out with taxpayer cash (or debt), those people are the only winners.

Mabye I just don't understand it, but to me the whole thing doesn't make sense. Get rid of it and think of a new more stable and more fair system, than big corporations and a handful of people sitting on the entire worlds wealth and resources.

(shit I'm starting to sound like a communist )

I won't pretend to know the ins and outs of what could have happened had the government just allowed the banks to collapse. But in simple terms, if millions of people went to the cashpoint machines to draw some of their money out, and suddenly found that they couldn't, then I don't think its an exagerration to say there would have been a complete meltdown and rioting in the streets.

 

[wellquickwoody]

Bushy!!!!!!!