B.O.E. gets tougher on bankers
Discussion
crankedup said:
Well yes we know all about the 'multiple factors' as fully described in aforementioned investigative program. Now that program was not produced/directed by myself, in fact I had nothing to do with it at all, except watch in utter dismay. Your diversionary efforts are not good enough I would like to read more from your critique of the all revealing program., rather than your focus on what you believe to be my own values.
ps we know that much of wrong-doing within the financial industry has much to do with bonus payments.
As ever, what you actually 'know' and what you think you 'know' are two entirely different things..ps we know that much of wrong-doing within the financial industry has much to do with bonus payments.
crankedup said:
Well yes we know all about the 'multiple factors' as fully described in aforementioned investigative program. Now that program was not produced/directed by myself, in fact I had nothing to do with it at all, except watch in utter dismay. Your diversionary efforts are not good enough I would like to read more from your critique of the all revealing program., rather than your focus on what you believe to be my own values.
ps we know that much of wrong-doing within the financial industry has much to do with bonus payments.
What programme? I'm not discussing a programme, I'm discussing the way you believe what you want to believe, what accords with your prejudices. Not my fault if you get your opinions straight from the idiot box.ps we know that much of wrong-doing within the financial industry has much to do with bonus payments.
There must be some area that you have enough expertise in to have witnessed first hand how incomplete, simplistic and partisan TV coverage tends to be. If you get your opinions from the TV, you may as well read the Daily Mail.
As it happens, I do have some professional knowledge of what's going on in banking, particularly with respect to transparency and risk and reducing the likelihood of similar problems happening again. I'm happy to say that there are much more useful things going on than rabble appeasing banker-bashing, and I'm pleased to be doing my bit to help facilitate them - though if they are driven out of the country, I'll be out of a job and I'll have equity in a failed business.
As it happens, I do have some professional knowledge of what's going on in banking, particularly with respect to transparency and risk and reducing the likelihood of similar problems happening again. I'm happy to say that there are much more useful things going on than rabble appeasing banker-bashing, and I'm pleased to be doing my bit to help facilitate them - though if they are driven out of the country, I'll be out of a job and I'll have equity in a failed business.
otolith said:
There must be some area that you have enough expertise in to have witnessed first hand how incomplete, simplistic and partisan TV coverage tends to be. If you get your opinions from the TV, you may as well read the Daily Mail.
As it happens, I do have some professional knowledge of what's going on in banking, particularly with respect to transparency and risk and reducing the likelihood of similar problems happening again. I'm happy to say that there are much more useful things going on than rabble appeasing banker-bashing, and I'm pleased to be doing my bit to help facilitate them - though if they are driven out of the country, I'll be out of a job and I'll have equity in a failed business.
You have a vested interest then?As it happens, I do have some professional knowledge of what's going on in banking, particularly with respect to transparency and risk and reducing the likelihood of similar problems happening again. I'm happy to say that there are much more useful things going on than rabble appeasing banker-bashing, and I'm pleased to be doing my bit to help facilitate them - though if they are driven out of the country, I'll be out of a job and I'll have equity in a failed business.
An additional 2 years' claw back time will instantly change workplace behaviour and moderate the nature of reward packages at the UK’s top banks. That's unbelievable.
The meeting when this was dreamed up probably included the comment "we need a token gesture to placate the braying donkeys".
The meeting when this was dreamed up probably included the comment "we need a token gesture to placate the braying donkeys".
otolith said:
Television is dumbed down manipulative crap. Take everything with large rocks of salt and do your own research.
Oh dear! are you including the 'Storyville' Inside Story documentary or are you just annoyed with Europe with how it views the banking industry? Your likely a decent honest hard-working person caught up in the same industry THAT HAS RUINED TENS OF MILLIONS OF PEOPLES LIVES.
sidicks said:
crankedup said:
Well yes we know all about the 'multiple factors' as fully described in aforementioned investigative program. Now that program was not produced/directed by myself, in fact I had nothing to do with it at all, except watch in utter dismay. Your diversionary efforts are not good enough I would like to read more from your critique of the all revealing program., rather than your focus on what you believe to be my own values.
ps we know that much of wrong-doing within the financial industry has much to do with bonus payments.
As ever, what you actually 'know' and what you think you 'know' are two entirely different things..ps we know that much of wrong-doing within the financial industry has much to do with bonus payments.
crankedup said:
otolith said:
Television is dumbed down manipulative crap. Take everything with large rocks of salt and do your own research.
Oh dear! are you including the 'Storyville' Inside Story documentary or are you just annoyed with Europe with how it views the banking industry? Your likely a decent honest hard-working person caught up in the same industry THAT HAS RUINED TENS OF MILLIONS OF PEOPLES LIVES.
Given the multi-factor nature of life's outcomes, and looking to the UK, would there be any contribution to house repossessions from people choosing to over-stretch themselves with insufficient regard to the downside risk, and in terms of job losses would there be any contribution from people being overly willing to believe that hundreds of thousands of public sector nonjobs created by Labour with the country's credit card were not just for Christmas but for life, and in terms of business failures would there be any contribution from questionable business models...probably none of the above it was all Fred the Shred's fault.
Disclaimer: fault can and should be attributed to those at fault, in various ways, but nobody else - including (probably) the helpful people on the counter at the banks I've used for the last 40 years. They're 'bankers' after all as they work in a bank.
turbobloke said:
An additional 2 years' claw back time will instantly change workplace behaviour and moderate the nature of reward packages at the UK’s top banks. That's unbelievable.
The meeting when this was dreamed up probably included the comment "we need a token gesture to placate the braying donkeys".
I think myself and many others do not like being called 'Baying donkeys'. I agree with the principle of a Bonus system, it produces results. A car salesman on a basic salary of £10k relies on a bonus system to ensure he receives enough money to pay the bills and feed his family. The meeting when this was dreamed up probably included the comment "we need a token gesture to placate the braying donkeys".
But a banker on £100k basic salary and wants to achieve a bonus that will double (at least) his salary, is by definition a bit of a greedy b
d, and will take risks to achieve that bonus. Personally I'd be delighted to be in a job that pays me £100k basic. .n'm not a banker brasher, and I realise the UK depends on a successful Finance industry., but I see no harm in the BoE trying to ensure that there are adequate controls and regulations in place. JensenA said:
turbobloke said:
An additional 2 years' claw back time will instantly change workplace behaviour and moderate the nature of reward packages at the UK’s top banks. That's unbelievable.
The meeting when this was dreamed up probably included the comment "we need a token gesture to placate the braying donkeys".
I think myself and many others do not like being called 'Baying donkeys'.The meeting when this was dreamed up probably included the comment "we need a token gesture to placate the braying donkeys".
As you will have seen from the media coverage of Labour's scapegoating strategy (begun when still wrecking the country's finances and ongoing) there are many braying donkeys who make a lot of noise based on very little knowledge or understanding. There you see the real target.
JensenA said:
I agree with the principle of a Bonus system, it produces results. A car salesman on a basic salary of £10k relies on a bonus system to ensure he receives enough money to pay the bills and feed his family.
Indeed. My point was that the 2 year extension is not particularly innovative and won't be particularly effective on its own, it's even got the BBA on side - they support it. The wider point is that it's just another brick in the wall.JensenA said:
But a banker on £100k basic salary and wants to achieve a bonus that will double (at least) his salary, is by definition a bit of a greedy bd...
That definition is most questionable. Aspirational is more likely to fit the bill.d...JensenA said:
...and will take risks to achieve that bonus.
Taking risk is what business is about, there is usually proportional reward from effort and proportional reward from risk, the key issues are around expertise and judgement.JensenA said:
Personally I'd be delighted to be in a job that pays me £100k basic.
Apply for one, see how it goes. Or start a successful business and pay it to yourself.
JensenA said:
I'm not a banker brasher, and I realise the UK depends on a successful Finance industry, but I see no harm in the BoE trying to ensure that there are adequate controls and regulations in place.
Nor am I a banker basher, but then again, nor am I an apologist for those who deserve criticism and the rest.Is this latest 'brainwave' fit for purpose or tokenism? If it doesn't do much but looks like something that the uninformed will swallow, but it's another brick in the wall and if/when the law of unintended consequences operates, it will be pointless.
If workplace behaviour is unlawful then prosecute, in banks or wherever else, and if there are piles of ill-gotten moolah then look to POCA. What's new
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