RBS - 5 billion GBP loss - On the road to recovery...

[Poyetry In Motion]

That is what I mean and I would think 90% of these bonuses went to the tossers at the top not your hard working shop staff.

Agreed. I've no problem with the poor tellers, it's the greedy sods at the top....

 

[Cian]

It took a £175m hit for its computer system breakdown

Think they claimed €55M for Ulster Bank alone, which is a TINY fragment of the overall firm - they're either hiding figures somewhere or this cost them a lot more.

They also suddenly realised they'd been undercharging people for their mortgages: http://www.independent.ie/business/personal-finance/property-mortgages/ulster-bank-tells-customers-they-must-repay-30000-after-mortgage-error-29096823.html which hasn't helped.

 

[Tom Hark Preston Park]

You can't just blame PPI that that its only responsible for £1.1 billion of the figure. And according to the government all the talent will be lost to the US and Asia when bonuses are capped at only double base salaries. What are we going to do without all these gifted people?

How about the taxpayer charters them a jet to f*** right off and never come back?

 

[beorhthelm]

anyone going to note that most of this loss is accountancy shuffleing and there was an operating profit of £3.5bn? no, thought not.

 

[butchy]

What good would capping bonuses to annual salary do anyway? They would just raise their base level of pay accordingly.

 

[Mew]

I can't wait for the dross of NSC to explain 'own credit'. Oh, hang on, no I can't - why have an informed view when you can talk utter uninformed bs?

 

[JetsetJimbo]

So, let me get this straight. On the morning of an important election in Eastleigh, RBS - which was bailed out by the taxpayer to the tune of some £45bn - announced a £5.2bn loss, but also that it's still going to pay anywhere from £300m to £700m in bonuses to the people responsible.

Later the same day, the EU announces a plan to limit said bonuses in the future, to "only" one years' salary. Despite the fact they were facing a by-election they needed to win, the Bullingdon mob waste no time in announcing they intend to wreck the plan, at the same time as they're going full speed ahead with their plan to socio-economically cleanse London of the poor, old, and disabled. Of course, I'm sure this all has nothing to do with the fact the City of London is the Conservative Party's chief source of funding (ahem).

That pretty much sums it up, right? You've got to hand it to the Tories, when it comes to pleasing their paymasters, they really don't give a f*** what anyone else thinks.

 

[beorhthelm]

So, let me get this straight. On the morning of an important election in Eastleigh, RBS - which was bailed out by the taxpayer to the tune of some £45bn - announced a £5.2bn loss, but also that it's still going to pay anywhere from £300m to £700m in bonuses to the people responsible.

so employees who have done their jobs and reached their targets shouldnt get the bonuses they've been contracted to receive? what has year's bonus got to do with an event 5 years ago? you also think its OK for a foreign authority to impose its regulation on our economy? do you think this will help, when base salaries will rise meaning higher fixed costs? there's potentially less aversion to risk, they get paid more regardless of the outcome of a deal. EU assumes rather naively that the only option is to take less risk, but they clearly dont understand the psyche of your typical trader.

 

[Mackenzie]

Bankers, and their families, should be publicly executed.

 

[nicko31]

What good would capping bonuses to annual salary do anyway? They would just raise their base level of pay accordingly.

I don’t buy the increased salary thing, its just the industry trying to say you won’t control us. In reality, reducing bonuses will mean these bankers won’t take the massive risks any more. Its called trying to introduce some responsibility…

Of course the the real big earners are the hedge funds guys, these seem to have been forgotten..

 

[beorhthelm]

I don’t buy the increased salary thing, its just the industry trying to say you won’t control us. In reality, reducing bonuses will mean these bankers won’t take the massive risks any more. Its called trying to introduce some responsibility…

instead of having a vested interest in taking risk that will be sucessfull, they now have less consideration of the outcome. how does that introduce responsibility? they will take risks because that what their job is, and to keep in their well paid job they have to still hit thier targets. if the bank management and risk contraol procedures dont change, then it will be business as usual.

except, the traders will now be based in Singapore and New York. where we dont get to tax those bonuses

 

[Twinkle Toes]

I saw the thread heading & immediately thought of Peter O'Hanraha-hanrahan.