RBS posts Sizeable Loss, pitchforks soon?
Discussion
Paddy_N_Murphy said:
News / Media pluck good bits of a story and bad bits of a story and broadcast the bits that are sensational *shocker*
It's not hard though is it. RBS executives get huge bonuses, RBS fails spectacularly, RBS gets bailed out by the government, RBS executives keep jobs, RBS posts huge losses, RBS executives get huge bonuses. . .
petemurphy said:
Its difficult - normally id say dont give money to the people there who have lost money, give bonuses to those who have made money
however this can encourage short term risky gambling with other peoples cash?
maybe shares for those who have made money that they cant sell for x years?
Don't they already get that?however this can encourage short term risky gambling with other peoples cash?
maybe shares for those who have made money that they cant sell for x years?
IIRC a £3m bonus would be £1m cash and £2m in shares over 3 years.
Don't work in the sector though, so happy to be proved wrong.
Something I don't understand, but i'm sure one of you clever people will help me out,
As a company director, if I pay myself a bonus when the company is not performing, it will be considered that I have misbehaved, especially if the company subsequently fails. In the worst scenario I could go to prison. The only reason that RBS has not failed is because the government has propped it up.
What is the difference?
As a company director, if I pay myself a bonus when the company is not performing, it will be considered that I have misbehaved, especially if the company subsequently fails. In the worst scenario I could go to prison. The only reason that RBS has not failed is because the government has propped it up.
What is the difference?
The simplistic way in which results like these are presented in the media - huge losses + continuing bonuses - doesn't endear the banking industry to the general public. I know that we are at the mercy of a sensationalist press, but it's still surprising that no-one in banking PR has thought of a better/more persuasive way of presenting the facts.
Actually the problem is with the word "bonus", it's wrong in the context of which they are paid. In my view, agreed payment for hitting a set target is not a 'bonus', more an incentive/commission.
The headlines could be accurately re-written from "RBS pays XXX bonuses" to "RBS pays staff".
The headlines could be accurately re-written from "RBS pays XXX bonuses" to "RBS pays staff".
housen said:
so we are all doing very well cos we own it right ,
Wasn't the average UK pay rise something like 1.4% ? So yes "we are all doing very well" if you ignore the financial crisis, the recession and the other resultant austerity measures and cut backs from being a near bust country.So glad the government has put all their eggs into the financial sector and we now have to prop up failed companies. It's a special kind of capitalism we enjoy in the UK. Fail as a business and you go under, unless you cause a financial crisis in which case you get propped up by the taxpayer.
Yes RBS is a real success story.
el stovey said:
housen said:
so we are all doing very well cos we own it right ,
Wasn't the average UK pay rise something like 1.4% ? So yes "we are all doing very well" if you ignore the financial crisis, the recession and the other resultant austerity measures and cut backs from being a near bust country.So glad the government has put all their eggs into the financial sector and we now have to prop up failed companies. It's a special kind of capitalism we enjoy in the UK. Fail as a business and you go under, unless you cause a financial crisis in which case you get propped up by the taxpayer.
Yes RBS is a real success story.
ts !roachcoach said:
Actually the problem is with the word "bonus", it's wrong in the context of which they are paid. In my view, agreed payment for hitting a set target is not a 'bonus', more an incentive/commission.
The headlines could be accurately re-written from "RBS pays XXX bonuses" to "RBS pays staff".
All true, except it's the bank themselves and all their staff that refer to them as bonuses.The headlines could be accurately re-written from "RBS pays XXX bonuses" to "RBS pays staff".
oyster said:
roachcoach said:
Actually the problem is with the word "bonus", it's wrong in the context of which they are paid. In my view, agreed payment for hitting a set target is not a 'bonus', more an incentive/commission.
The headlines could be accurately re-written from "RBS pays XXX bonuses" to "RBS pays staff".
All true, except it's the bank themselves and all their staff that refer to them as bonuses.The headlines could be accurately re-written from "RBS pays XXX bonuses" to "RBS pays staff".
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