06-09-2009, 12:41 PM
1
The chancelor is in denial again
Banking staff are not to have their bonuses capped or controlled in the UK, at the summit yesterday the French wanted all bonuses stopped but Darling refused, what has to happen to this guy, does a sledge hammer have to hit him on the head for things to sink in or is he addicted to stupid pills.
06-09-2009, 05:53 PM
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Re: The chancelor is in denial again
I've not worked much in the private sector, but my OH has and used to get a Christmas bonus every year. Not the huge amounts bankers seem to get of course and the amount he got was in direct proportion to the firm's profits. As I understand it, private sector workers expect an annual bonus of some sort. Not that I agree with the vast amounts that senior people get - who probably do the least work anyway. I think it would take more than Darling Darling to change the very culture of commerce.07-09-2009, 12:44 AM
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Re: The chancelor is in denial again
It seems they never learned a lesson after Fred (the shred) Goodwin got his multi-million pound pension.Not bad for running a bank into bankruptcy, he's still laughing about his pay-off but darling can't see it because of the stupidity pills.
The present RBS CEO will be given 2,000,000 RBS shares in two years time as part of his employment deal, how can they justify that ? we the tax payer own the majority of shares in the RBS.
07-09-2009, 09:39 AM
6
Re: The chancelor is in denial again
Oh dear, oh dear the realities of the Global Market in Banking and Finance is something that Darling understands or has been advised on. If Britain and other (but not all countries) limit bonuses then, bearing in mind that the highest bonuses are made to the men with the power, they would relocate their desks and terminals to a country that did not interfere in the limitation of their obscene bonuses. America being the country they would obviously choose.They simply do not have to be here to trade.
Far be it for me to say who is taking the Stupidity Pills but in this case it is not Darling.
It is a Global market and only a Global agreement can change this practice and culture and America, for one, is not likely to sign up for this
07-09-2009, 09:53 AM
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Re: The chancelor is in denial again
As far as anyone can tell, or as far as people with brains of limited size like me can tell, much of the blame for the 'Crash' comes from unscrupulous mortgage selling and subsequent on-selling of debt, in the US of A.Anything anyone does over here isn't likely to have much effect on world finance and the prospect of losing the finance industry, which has to a large extent taken over from manufacturing as a money-earner for the country, is horrendous.
Worldwide agreement will be required; much as you may hate Mr Darling and his eyebrows, this can't all be put at his door.
As far as my limited intellect can understand anyway ....
07-09-2009, 11:29 AM
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Re: The chancelor is in denial again
The people who recruit these "top" men argue that they have to give them top salaries and bonuses to attract them in the first place.Fred Goodwin was a "top" man in his field and he ran the RBS into the ground.
The banking, insurance businesses and mortgages are a top earner of foreign currency for the UK but at what price ? we had to bail the banks out last year to the tune of billions.
I looked up the price of an RBS share this morning and they're trading at 56 pence, . . so in two years time their CEO will get one million pounds as a bonus, this is not right IMO.
I wonder what his salary is if that's what he's getting as a bonus.
14-09-2009, 03:10 PM
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Re: The chancelor is in denial again
Originally Posted by merz
->
Weren't they supposed to sort out the Bankers' Bonuses when we fell into recession.........but we are talking Gordon Brown and Alistair Darling...promises, promises, promises, ..............
After all the fraud that went in parliament can you blame them ?
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