03-12-2009, 01:30 PM
1
RBS bonuses row
The managers in the investments sector of the bank are threatening to resign if they don't get big bonuses,. . who the hell do they think they are ? they're lucky to be in a job, . if the tax payers had'nt bailed them out last year they'd be on the dole.Let them resign, and see how they fair on dole money.
03-12-2009, 03:13 PM
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Re: RBS bonuses row
Oh Nero this is a thread that could run and run
and it will be interesting to see who plays hard ball the longest. Just to clarify, it was reported on Sky News today that it was the board directors who were planning to resign if the bonuses were not paid (Presumeably the executive and non exec.)The so called 'whizz kids' who allegedly make all the money for the bank through what is really just gambling with other peoples money are the ones who will get the bonuses.
IMO the problem lies with these so called 'whizz kids' - I think anyone can make money by gambling if you are using other peoples money, after all what's the worst that can happen (a) you put millions on a trade, if it comes off you make tens of millions and pick up a big bonus or (b) you loose and the bank carries the loss. If over five years you make a lot of losses you might get the sack but I know from having talked to some of them that they only reckon to do the job for five or so years anyway, after that they can either retire or go back to running a pub or something like that!!
If it's not your money you are gambling you can be fairly relaxed about whether you win or loose, so whose money is it ? it's yours Nero and mine.
Remember Nick Leeson he was doing this and what has subsequently emerged is that his bosses at Barings didn't have a clue about the type of trading he was engaging in.
03-12-2009, 04:35 PM
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Re: RBS bonuses row
According to latest reports it's only a half dozen or so who're involved in the row, . . these are the "top" guys, . . if so what are their salaries without bonus payments ?Do they have a company car ?
Are they on medical insurance, . . I can answer that one for sure, . . yes they are!
The arguments have been going on all day, . . one chap who works in the financial sector (an independent) said these guys are being head-hunted by other banks to leave and work for them, . . well good riddance to them, leave and make room for new guys who are'nt as greedy.
Getting right down to it is that it is pure greed, the more they get the greedier they become, figures being quoted on TV were £1 million bonus for each of them, to me that's outrageous, no use saying "shame on them" coz gits like that have no shame, . . just like Fred the shred last year.
06-12-2009, 04:29 PM
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Re: RBS bonuses row
As Losos has said, . . the investment advisers are gambling with other peoples cash, if they loose it's had luck on the investors, if they win the investors get a good return but the advisers want a cut, . . to me the investors should pay that cut out of their returns and not the bank.The bank will get a % of the proceedings but why should the advisers get paid out of this ?
06-12-2009, 07:55 PM
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Re: RBS bonuses row
Originally Posted by nero
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the investors should pay that cut out of their returns and not the bank.
And 'crazy' banks where gambling on foreign currency movements and all the other nonsense is funded by people who want to gamble
But don't hold your breath, last I heard it wasn't going to happen
07-12-2009, 02:42 PM
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Re: RBS bonuses row
The chickens are coming home to roost as far as the bankers are concerned.Mr Brown and the chancellor have decided to tax their bonuses, the only problem is the bonuses will be paid as shares in the bank.
One solution IMO is to impose a heavy tax on the dividends of those shares paid to them, it would be difficult for them to avoid this tax unless they sold their shares, on the other hand Mr Brown could impose an even higher tax on the sale of those shares.
All quango salaries over £150K will have to be authorised too, this is a move in the right direction IMO, these people are not elected by us but are paid by us.
The wealth divide has got really bad in recent years, . . some CEO's are getting £1 million a year, that's £19,000 a week, . . when you think most pensioners are trying to keep warm and feed themselves on £90 a week it's obscene don't you think ?
The outrageous salaries being paid to CEO's have created an even bigger "have-and-have-not" society in the UK, they live on a different planet from the rest of the poorer people.
Maybe we should start a revolution like the French did 250 years ago .
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