Tories urge bank cash-bonus limit
Discussion
Shay HTFC said:
yeah, sure, whatever.
The bottom line is that the taxpayer got done over and then had to pay off the people who did them over. And the people who act on behalf of these scam artists are getting awarded for it. You can polish that turd all day long, but it'll still be a steaming pile of s
t.
The trouble with limiting talented people's pay is that they tend to leave and go elsewhere. That in turn means the company loses it's ability to make money. The bottom line is that the taxpayer got done over and then had to pay off the people who did them over. And the people who act on behalf of these scam artists are getting awarded for it. You can polish that turd all day long, but it'll still be a steaming pile of s
t.The same situation applies to tax. Tax people at a 'silly' rate and the ones with the ability to move country will do so, meaning the country loses out.
Nobody forced Gordon Brown to bail out the banks. He did it because he was copying Hank Paulson. It would have been better in many cases to put the non-performing banks into administration, least of all because it shows the entire country the consequences of getting it wrong in a capitalist society, and the scam artists as you put it would be out of work.
contango said:
For many bankers, making money this year has been easy, mainly due to the historically low interest rates. Any assets you had on your balance sheet this time last year, are now comfortably in profit, before we mention the assitance in writing off the clag or the Government taking it under their wing.
Even Northern rock would be thriving in the current environment.
Those who have kept their jobs, can't believe how fortunate they are, it has not been a difficult year,,,even those who rely on turnover with reduced trade volumes are fine, as there is enough in the till to go round and you need a team for when volumes do pick up.
Slightly O/T, but I was in the capital at the weekend (Islington way) and could not beleive how 'unscathed' the high street is.Even Northern rock would be thriving in the current environment.
Those who have kept their jobs, can't believe how fortunate they are, it has not been a difficult year,,,even those who rely on turnover with reduced trade volumes are fine, as there is enough in the till to go round and you need a team for when volumes do pick up.
Locally, here in Staffs, high streets look like they've been blitzed, littered with empty shops and units and generally looking a bit down-at-heel (well even more so than usual, at least). The amount of traffic (and hence business) on Friday and Saturday nights is also markedly lower and has been all year.
The contrast between provincial Midlands and the captial was quite stark and this does seem to be a very destructive recession, with very selective consequences, skewed against the little guys - the mid to low earners and the smaller businesses.
Edited by Digga on Tuesday 27th October 12:12
The unseemly scramble to kick the bankers in the teeth in front of the baying hordes doesn't surprise me at all. That's politics.
The mention of a £2000 figure does surprise me. That's a 10% performance related pay bonus on a 20k salary, which doesn't really seem excessive. I don't think a couple of grand to a clerk or a junior IT helldesk operator is really what the problem is perceived to be.
The mention of a £2000 figure does surprise me. That's a 10% performance related pay bonus on a 20k salary, which doesn't really seem excessive. I don't think a couple of grand to a clerk or a junior IT helldesk operator is really what the problem is perceived to be.
anonymous said:
[redacted]
Come on, you're more intelligent than that. What happened was that in the banking game, for a period of time (nearly) everyone 'won' and the sector 'grew' as a result. Except the 'real' economy that the financial sector is meant to facilitate didn't, the sh*t hit the fan and the whole house of cards cmae tumbling down. 900T-R said:
Come on, you're more intelligent than that. What happened was that in the banking game, for a period of time (nearly) everyone 'won' and the sector 'grew' as a result. Except the 'real' economy that the financial sector is meant to facilitate didn't, the sh*t hit the fan and the whole house of cards cmae tumbling down.
Why why why do people keep going on about bank bonuses. They have little to nothing to do with the current problems. The current problems are caused by three things property, Property, PROPERTY.Low world wide inflation allowed interest rate to be at to low a level for to long. This lead to an increase in money supply and inflation. As it always does. In this case asset inflation in terms of property prices.
When inflation finally started to effect commodity prices and it was assumed interest rates would have to rise, property prices started to fall and the possibility of making huge losses on property loans raised questions about the solvency of many banks.
No trading losses where responsible for the problems at the banks except those who where issuing securities backed by property mortgages and rather than sell them had decided to keep they on balance sheet to increase returns.
GO knows less about economics than my 6 year old neice.
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