Simple question, do you agree?
edit: not sure why I'm getting so many negs. All I did was touch upon a point of debate?
Last edited by Malay4ever; 22-02-2012 at 21:24.
Most people are ignorant of what they do, how they got to where they are and jump on the bandwagon of bashing bankers bonuses, some even go on question time just to say it and get a round of applause. Didn't see anyone complaining when they could earn a loan they couldn't afford, or a house, or a car, none of it mattered as long as there were re-financing like Ocean or Chelsea etc. If you don't trust bankers earn your money and buy a house upfront, plus keep your money somewhere else. You rely on banks and they rely on you, deal with it.
Last edited by chrislpp; 22-02-2012 at 19:13.
Simple answer. No-one here knows anything about it and all they do is rant on and on about bla bla bla they deserve it or not. Fact is unless we know the in depth financial performance of each bank, and each department and thus allowing us to see if those individuals benefit the company larger than the amounts they are getting paid, we cant say anything.
For me, bonuses are fine for the majority of people. Some seem to get completely extraordinary amounts that go way above some of the large figures you see anyway, but.. as above.. i have no idea if their contributions deem it fair, none of us do, and im not one to be such a jealous tight ass that i think they should not get it no matter what. Pisses me off when people who work part time at tesco think they have the right to look up at people in such industries and say stuff such as " they dont deserve all that money when our economy is the way it is" when the reality is the majority of people would love to be there and wouldnt give away any of their bonus if some random single mother on question time told them they should.
Do footballers deserve what they are paid? No. But is it financially viable to pay them that? Yes. Who is to say banking is any different?
Last edited by Tommyjw; 22-02-2012 at 19:15.
Bonuses are fine. Everyone gets bonuses for performance. If they get them for screwing up, its the fault of the person writing the contract.
People are missing the point completely, these salary packages and bonuses are set by the market.
Top executives can, to some extent, name their own price and regardless of company performance.
It’s like a top International footballer going to say Arsenal, where things are currently going a bit tits up, that footballer doesn’t have to pay the price of failure, even if he is playing crap.
Salaries are largely all based on skill, experience, reputation and the consequent market value.
There’s no law that says if RBS goes tits up he shouldn’t get paid and that goes for any employee.
No, the tail is now wagging the dog it’s exactly the same as the football chairman picking the team over the manager’s head.
Labour, to their credit when bailing out RBS, decided that the government would not get involved they would not be active shareholders.
They decided this based on the previous experience of Old Labour walking all over our nationalised industries in the 1970s, with their union cohorts in tow. With the inevitable result that those industries turned into basket cases, losing money faster than we could print the stuff.
Now Labour, in opposition and playing to the populist gallery, have disgracefully reneged on that deal, knowing full well that the likely consequence of them getting their way is that they are almost certainly pissing all our RBS tax bailout up the wall.
Complaining about RBS bonuses, we just did all our money in, RBS will now become the next British Leyland and Labour don’t give a crap because burning all our money, for their own short term political gain, is what they do best.
I don’t know about you but I would rather have had my money back and, based on his track record, this was certainly the man to do it.
It now only remains to be seen how long it is before Hester and his team resigns.
They are being asked to put their reputations on the line whilst it is clear that the interference, not just on bonuses, is coming thick and fast – that situation won’t last long.
Then, when they go, no one worthy will touch the job, it will be just like Chelsea after the Special One left.
No matter how much money is thrown around at Chelsea, Abramovich just can’t get the best managers anymore because none of them will go there when they know he will interfere all the time.
Last edited by marcusfox; 22-02-2012 at 19:25.
(Original post by H.JJJ)
I remember some people saying bankers bonuses created the global recession, but could not even tell me what inflation was. Amazing...
To be fair though, the deregulation of commission based compensation did serve as an incentive in the sale of debt obligations (and even more so of the sale to those who had little/no collateral and were more likely to default). But that is just the tip of a very, very large ice burg, and I'm sure the person you're referring to didn't really mean it like that!
On topic: If they've earned it then yes. The whole bank slating that's been going on throughout the media recently is little more than a witch hunt. If you're going to scream and shout about banker's bonuses (who are, essentially, the bank bone of the British economy) then why not scream and shout about footballers, or the CEO's of massive property companies, or the bosses of transport companies, or the CEO of Exxon Mobil... etc.
Last edited by Existentialistic; 22-02-2012 at 20:08.