should bankers be forced to pay back there bonus.

[scotal]

Tony*T3 said:

I hear that many of the suspect deals that have been put together even those involved didnt understand it all.

TBH a lot of people dont understand many derivative instruments, win, lose or draw.

[Maxf]

wolves_wanderer said:

grumbledoak said:

caterhamboy said:

in light of everything, should the bankers at any level be made to pay back any bonuses they have had say in the last 5yrs? surely this would create a nice pool of money instead of the tax payer bailing them out. i know a lot will say they have spent it, but i say tough pay it back or face prison. they have all been greedy and it is affecting the man in the street.it's fraud..

Around here, they are the man in the street. And quite a few of them are getting "affected". You plank.

By their own actions? Ho hum.

How is the actions of a board and credit committee, who would have set the bank's lending criteria the responsibility of the secretaries, tea boys, graduates, filing clerks, trainee traders - or anyone else not directly involved in setting the policy?

You guys do realise that only very few people in the City are on the Fat Cat salaries and 7 figure bonuses touted as 'normal' by the newspapers?

Edited by Maxf on Tuesday 16th September 13:40

[PieroW]

caterhamboy said:

in light of everything, should the bankers at any level be made to pay back any bonuses they have had say in the last 5yrs? surely this would create a nice pool of money instead of the tax payer bailing them out. i know a lot will say they have spent it, but i say tough pay it back or face prison. they have all been greedy and it is affecting the man in the street.it's fraud..

Edited by caterhamboy on Tuesday 16th September 13:24

Are you for real???

[caterhamboy]

wasn't saying that is what should happen, just wondering what peoples thoughts were. can tell i've hit a few nerves though!!

[chris_w666]

I can see that precedent being popular.

'Good day Mr Jones, welcome to your new job at B&Q every time you fail to make more profit that you earn in wages we will deduct £50 from your salary.'

Cocktard stop being jealous.

[Simpo Two]

It was the head of HSBC I think who said that the bonus structure encouraged short-termism and unnecessary risk taking. Seems he was right.

[caterhamboy]

Simpo Two said:

It was the head of HSBC I think who said that the bonus structure encouraged short-termism and unnecessary risk taking. Seems he was right.

very true.

[wolves_wanderer]

Maxf said:

wolves_wanderer said:

grumbledoak said:

caterhamboy said:

in light of everything, should the bankers at any level be made to pay back any bonuses they have had say in the last 5yrs? surely this would create a nice pool of money instead of the tax payer bailing them out. i know a lot will say they have spent it, but i say tough pay it back or face prison. they have all been greedy and it is affecting the man in the street.it's fraud..

Around here, they are the man in the street. And quite a few of them are getting "affected". You plank.

By their own actions? Ho hum.

How is the actions of a board and credit committee, who would have set the bank's lending criteria the responsibility of the secretaries, tea boys, graduates, filing clerks, trainee traders - or anyone else not directly involved in setting the policy?

You guys do realise that only very few people in the City are on the Fat Cat salaries and 7 figure bonuses touted as 'normal' by the newspapers?

Edited by Maxf on Tuesday 16th September 13:40

It isn't. But neither is it "our" fault and we still end up getting to carry the can for their cretinous decisions, either through increased costs or bailing out the banks directly.

[215cu]

caterhamboy said:

in light of everything, should the bankers at any level be made to pay back any bonuses they have had say in the last 5yrs? surely this would create a nice pool of money instead of the tax payer bailing them out. i know a lot will say they have spent it, but i say tough pay it back or face prison. they have all been greedy and it is affecting the man in the street.it's fraud..

Edited by caterhamboy on Tuesday 16th September 13:24

What in all things wankology are you spafffing about?

You need to graduate up from the Daily Sport and into the Real World.

A firm has some products, other firms buy these products and they turn out to be a pile of hoss.

Do you?

a) reward the firm by bailing it out
b) let the firm go bust as a lesson to the other firms not to punt anything like it again?

To make it really easy, the answer is not a).

unless you have lots of your voters working for them

[off_again]

wolves_wanderer said:

Maxf said:

wolves_wanderer said:

grumbledoak said:

caterhamboy said:

in light of everything, should the bankers at any level be made to pay back any bonuses they have had say in the last 5yrs? surely this would create a nice pool of money instead of the tax payer bailing them out. i know a lot will say they have spent it, but i say tough pay it back or face prison. they have all been greedy and it is affecting the man in the street.it's fraud..

Around here, they are the man in the street. And quite a few of them are getting "affected". You plank.

By their own actions? Ho hum.

How is the actions of a board and credit committee, who would have set the bank's lending criteria the responsibility of the secretaries, tea boys, graduates, filing clerks, trainee traders - or anyone else not directly involved in setting the policy?

You guys do realise that only very few people in the City are on the Fat Cat salaries and 7 figure bonuses touted as 'normal' by the newspapers?

Edited by Maxf on Tuesday 16th September 13:40

It isn't. But neither is it "our" fault and we still end up getting to carry the can for their cretinous decisions, either through increased costs or bailing out the banks directly.

We are paying the price for a number of things. Inflated house prices, poor financial planning and management by our government (and others) and some reckless business practices. Some people have profited during this time, some have not. But overall, it was unsustainable. What is happening now is the shake-down of everything back to some form of normality.

To blame the current situation on a limited number of people is a little over simplistic. However, lots of things have contributed together to lead to this situation. Its not good but its to be expected. As someone pointed out on a different thread - a £850,000 mortgage is about 4,500 a month. Given the massive number of £1m homes, I wonder exactly how many people can actually afford the mortgage payments on that? Not many based on salary - which then leads to the next part of the problem - its all based on borrowings or leveraged investments. Once the tower starts to crumble, the whole things falls down.

The good news is that the £1m homes will be worth much less and make them more affordable for the future. The problem is that all of our money will devalue as a result and we still wont be able to afford it...

[grumbledoak]

wolves_wanderer said:

By their own actions? Ho hum.

Not doing yourself many favours, really. The vast majority of the people in the banks are very ordinary people, earning very ordinary money, for a very ordinary job (often with long hours). They do not and cannot control the company, any more than I can control our errant government with my one vote.

In your view, seemingly, all of Gordon's cock-ups are my fault. I disagree; I did my bit properly, but the economy is still in the stter.

Edited by grumbledoak on Tuesday 16th September 13:54

[Maxf]

Everybody who borrowed irresponsibly should pay it back now or face prison.

Actually, anyone considered 'sub-prime' should go and live on the Isle of Wight.

[joscal]

Can't understand the backlash to the OP here?? The insane bonuses paid in the city like below are obscene. I don't care what anyone says the last five years have been like a goldrush of greed and corruption, it has now come to a much needed end. I do feel for the people in the lower paid jobs in banks and finance houses but where have all the supposed financial whizzkids gone to now? If they are so clever why can't they get us out of this mess?? I have a fair idea why, no-one is stupid enough to lend them any more money for their hair brained schemes.

http://www.thisismoney.co.uk/news/article.html?in_...

Check this link out too:

http://www.thisismoney.co.uk/news/article.html?in_...

What a difference a couple of years make..The party is over.

[Vesuvius 996]

joscal said:

The insane bonuses paid in the city like below are obscene because I didn't get one and it's not fair.

EFA.

[Thudd]

Maxf said:

Everybody who borrowed irresponsibly should pay it back now or face prison.

Actually, anyone considered 'sub-prime' should go and live on the Isle of Wight.

I'd suggest transportation to Australia.

Nobody lives in the middle of it, so there's plenty of room.

If they find it a bit dry they can put up some mountains to collect rain.

[Maxf]

joscal said:

Can't understand the backlash to the OP here?? The insane bonuses paid in the city like below are obscene. I don't care what anyone says the last five years have been like a goldrush of greed and corruption, it has now come to a much needed end. I do feel for the people in the lower paid jobs in banks and finance houses but where have all the supposed financial whizzkids gone to now? If they are so clever why can't they get us out of this mess?? I have a fair idea why, no-one is stupid enough to lend them any more money for their hair brained schemes.

http://www.thisismoney.co.uk/news/article.html?in_...

Check this link out too:

http://www.thisismoney.co.uk/news/article.html?in_...

What a difference a couple of years make..The party is over.

You are a director - say your company makes £100m profit are you not going to take home a decent chunk of cash? Or will you just pay yourself the same as any other year?

These guys MADE many times their bonuses for their companies. The money didnt come out of the public purse - it came out of the PROFIT they made. Why can't they get a slice of it? If I was making £100m for someone else, I'd want a slice of it - either in salary or as a bonus.

[joscal]

Of course I would BUT, if my company lost a fortune two years later I would be responsible!!

[joscal]

Vesuvius 996 said:

joscal said:

The insane bonuses paid in the city like below are obscene because I didn't get one and it's not fair.

EFA.

bks, I'm quite comfortable thanks.

[audidoody]

Vesuvius 996 said:

caterhamboy said:

in light of everything, should the bankers at any level be made to pay back any bonuses they have had say in the last 5yrs? surely this would create a nice pool of money instead of the tax payer bailing them out. i know a lot will say they have spent it, but i say tough pay it back or face prison. they have all been greedy and it is affecting the man in the street. fraud..

Oh dear oh dear.

You clearly understand nothing about how the city works.

Bonuses are generally paid in shares, which you've no doubt noticed are now worthless.


Jealousy is a most unappealing trait.


Oh, and it's "their"

It seems the nub of the problem may have been that many in the City clearly did not understand how it works.


Edit: I certainly don;t have a problem with large bonuses being paid to the worthy - although p'raps a better way of offering such rewards is on the measurable outcome of the deal/trade/merge rather than the signing. Earn-out bonus?

Edited by audidoody on Tuesday 16th September 14:13

[J-Skid]

Vesuvius 996 said:

joscal said:

The insane bonuses paid in the city like below are obscene because I didn't get one and it's not fair.

EFA.

I have to say that this all the crap on here is getting a bit tiring. Simple facts are that not everyone who works in a bank earns load - as had been said before, 90% of those in the City work damn hard for very ordinary pay indeed.

Edited by J-Skid on Tuesday 16th September 14:10