Jump to content
House Price Crash Forum
R K

Banksters Seek Deal With Dave Over Bonuses

Recommended Posts

http://www.bbc.co.uk/blogs/thereporters/robertpeston/2010/12/bankers_seek.html

Well the banks have now put the ball in the court of the government.

"We've told the government that there's no point in our reaching some kind of collective agreement on pay, if ministers are still going to use the kind of rhetoric against us that damages our reputations and demoralises our staff," said one bank leader. "We're looking for a response from ministers, which makes it clear they recognise we're doing our bit on pay and also recognises that we have an important role to play in the recovery - which would be set back if we're attacked all the time by ministers".

So what does the Treasury and the Business Department think about all this? Well, one member of the government said there was no possibility of a statement by the chancellor, or the prime minister or the business secretary which implied that any kind of deal had been with the banks. "There'll be no kind of contract with us, or formal public agreement," he said.

But he added: "If banks show they get it, then inevitably you'll see less criticism of them by us".

So what might the banks "getting it" involve, in the government's view? Well simply paying a smaller amount of bonuses in total than last year would not do the trick.

"It's not been a great year for investment banking, so we all know the bonus pool is going to shrink whatever happens," said a government source. "So if they think that we'll be impressed by a single year of lower bonuses, well they'd be wrong about that. What we want to see is that they're tackling the pay issue in a long term sense, not just for one year but in a permanent sense."

The chances of a meaningful deal between bank bosses on the remuneration of their top bankers don't look great, not least because - in their hearts - some of the bank bosses (not all) think that the attacks on their pay are bonkers.

"This is a British obsession, a British thing," one of them told me. "In the rest of the world we pay the going rate and we don't get pilloried. It's only here that we get smashed to bits".

The going rate for being wrecking the entire country, stealing hundreds of billions and transferring £1trillion of bad debts onto the taxpayer isn't being paid a bonus sunshine, it's being charged with fraud, theft, and doing time.

Unless you're a bankster and have fwends in high places of course.

Dave will roll over after all playing this charade for a little while and until the media can't be ar5sed with it anymore.

Skimmers, scammers and scummers, the lot of them.

Share this post


Link to post
Share on other sites

they are about to get another £9bn or so in bail out money via their Irish "investments"

As this is to avoid Tanks and Army on the Streets following a systemic crash, then they are ALL therefore recipients of the taxpayers Largess.

Therefore, Salaries should be limited to say £50K, and NO BONUSES WHATSOEVER.

this money would be kept by the banks to ensure they are INVULNERABLE to their fellows bad lending decisions in the last 3 years.

Cash is king....they need to be prudent with theirs.

Otherwise, lets call their bluff and see what bonuses are paid out of insolvent banks.

Share this post


Link to post
Share on other sites

http://www.bbc.co.uk...nkers_seek.html

The going rate for being wrecking the entire country, stealing hundreds of billions and transferring £2.4 trillion? of bad debts onto the taxpayer isn't being paid a bonus sunshine, it's being charged with fraud, theft, and doing time.

Unless you're a bankster and have fwends in high places of course.

Dave will roll over after all playing this charade for a little while and until the media can't be ar5sed with it anymore.

Skimmers, scammers and scummers, the lot of them.

Is what we are told - so far!

Share this post


Link to post
Share on other sites

If we had a proper government instead of a collection of bankstas and big business puppets I would be advise them to check the small print of anything the bankstas put forward.

You agree not prosecute any us for stealing taxpayer's money

Share this post


Link to post
Share on other sites

They can do what they like with pay, just so long as they dont break any rules or collude or require any taxpayer funding.

Given that nearly all banks break the rules in some way, there has to be some pay back.

I think that a ceiling of 50K max sounds about right, certainly for any bank that wants to keep a UK banking licence.

And lets bring in unlimited liability for directors of banks, who have to pay up if their bank needs the UK taxpayer to step in. Do that, and really enforce it, and banks wont be going belly up ever again.

Share this post


Link to post
Share on other sites

they are about to get another £9bn or so in bail out money via their Irish "investments"

As this is to avoid Tanks and Army on the Streets following a systemic crash, then they are ALL therefore recipients of the taxpayers Largess.

Therefore, Salaries should be limited to say £50K, and NO BONUSES WHATSOEVER.

this money would be kept by the banks to ensure they are INVULNERABLE to their fellows bad lending decisions in the last 3 years.

Cash is king....they need to be prudent with theirs.

Otherwise, lets call their bluff and see what bonuses are paid out of insolvent banks.

£9bn eh? That will be bonuses all round of £900m based on the usual 10% of transaction rule (whether the transaction is a loss or gain--the effort is the same regardless).

Share this post


Link to post
Share on other sites

They should be paid on their performance, since all they have done over the last few years is lose money then they ought to be paying the state to stay out of jail.

Still I'm sure Dave will crumple and give them anything they ask for...

Share this post


Link to post
Share on other sites

£9bn eh? That will be bonuses all round of £900m based on the usual 10% of transaction rule (whether the transaction is a loss or gain--the effort is the same regardless).

thats just the UK "investment". theres the rest of Europe chipping in too.

Share this post


Link to post
Share on other sites

So it's all just rhetoric - and not the truth :rolleyes:

And it's the rhetoric that damages their reputation rather than the truth of their greed, lies, fraudulence and corruption.

So really they're saying give us more and more bonuses and more and more carry on as before.

It'll likely be well publicised but token resistance before unpublicised complete cave in. A cave in reminiscent of NuLabour's bail-out cavings.

Somewhere along the line they'll probably throw in a claim that they've saved the world as well.

Share this post


Link to post
Share on other sites

But he added: "If banks show they get it, then inevitably you'll see less criticism of them by us".

"Politicians can portray us bankers as rich, evil bastards all they want. Why should we care, as long as we remain rich?"

A. Banker

Share this post


Link to post
Share on other sites

The failed banksters should have gone bust.

If they've been bailed out by you and me instead, the least they could do is shut up as they continue to go to their jobs which they only have thanks to the generosity of the taxpayer.

Share this post


Link to post
Share on other sites

They almost sound like they're deliberately trying to wind us up. Now, I wouldn't put it past them, but the way they carry on I sometimes think that they're so out of touch with reality that they honestly believe the nonsense that they spout.

Share this post


Link to post
Share on other sites

The reputational loss has hit them quite hard, despite all cash. I guess going from being a highly respected person to a 'bankster' is quite a culture shock.

What they seem to be saying is they will trade some of their bonus money for some government PR in their favour- which only shows how out of touch with reality they now are, if they think a kind word from a politician will save their reputations.

There is a simple solution to the negative PR created by massive payouts to bankers- stop making the massive payouts and show some respect for the people of the country who have bailed you out and are now suffering in part as a result of your incompetence.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.