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Lloyds To Seize Back Bonuses From 10 Senior Bankers


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#1 interestrateripoff

interestrateripoff

    Carry on banking.....

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Posted 20 February 2012 - 01:19 PM

http://www.guardian....-senior-bankers

Lloyds Banking Group is to announce that it intends to "claw back" bonuses from as many as 10 senior bankers because of the 3.2bn losses that the bailed-out bank suffered after the payouts were awarded a year ago.

Between 40% and 50% of the bonus pot is thought to be at risk. Details were still being finalised on Sunday night and the figure could drop as low as 25% which may not satisfy some critics who will question why any bonuses should be paid out at all after the bank took the losses to cover the misselling of payment protection insurance (PPI).

Among those facing the consequences of the adjustment of the bonus pot caused by the PPI scandal are the former chief executive Eric Daniels and his closest lieutenants, some of whom have left the bank since his departure a year ago.


Just the tip of the iceberg. When the mortgage losses come in will the same happen?

Proof that Brown had repeated IMF / OECD / BIS warnings over house prices and did nothing!!!
Looting: The Economic Underworld Of Bankruptcy For Profit
The exponential growth of debt and the unsustainability of debt
The logic of HPI @ 10% YoY means your £100k house would be worth £1.38bn in 100 years
Paying down my mortgage with money found on the street

It's time to sue the Bank of England / Federal Reserve for GROSS NEGLIGENCE
If DEBT is the problem REPAYMENT is the solution or you default

 

"The trouble with the world was that prices were so low that only the rich people could buy and the aim of the Conference was to raise them to a point where it would again be possible for poor people to buy something."

"Northern unemployment is an acceptable price to pay for curbing southern inflation" Eddie George former Governor of the Bank of England

New digest on the credit crisis and economy Part2 Part 3

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