Bloomberg: Rich Banksters To Spend Bonuses On Luxury Homes

[Realistbear]

http://www.bloomberg.com/news/2010-12-10/london-bankers-will-invest-1-6-billion-of-bonuses-in-homes-savills-says.html

London bankers and other financial- services employees will spend about 1 billion pounds ($1.6 billion) of their 2010 bonus money on homes in the U.K. capital, 17 percent less than last year, Savills Plc said.

The drop of 17% may be due to price increases in the higher end Rolls' and Bentlairs what?

What a corrupt country we are. :angry:

[Cherubium]

http://www.bloomberg.com/news/2010-12-10/london-bankers-will-invest-1-6-billion-of-bonuses-in-homes-savills-says.html

London bankers and other financial- services employees will spend about 1 billion pounds ($1.6 billion) of their 2010 bonus money on homes in the U.K. capital, 17 percent less than last year, Savills Plc said.

The drop of 17% may be due to price increases in the higher end Rolls' and Bentlairs what?

What a corrupt country we are. :angry:

It's usually the young and fresh faced bankers who go for property right after bonus day, and the banks haven't been recruiting for the past couple of years.

[Misanthrope]

From the Telegraph:

Europe set to link banking bonuses to basic salaries

European regulators are set to tether banker bonuses to the level of basic salaries in a move that could deal the most severe blow yet to the culture of multi-million pound pay-outs.

....The CEBS proposals are also expected to include plans to curb cash pay-outs immediately, despite sustained lobbying by the banks to delay further changes.

The regulators want to increase the proportion of deferred remuneration in a move that could see bankers receiving just 10pc of their total pay packages up-front.

For employees on £1m or more, financial institutions may have to defer 60pc, pay 20pc in shares that cannot be sold immediately and pay 20pc in cash. The Government's new 50pc higher rate of tax would then effectively reduce the cash payment to just 10pc of the original amount.

When CEBS first mooted the idea, it was attacked by British banks, who argued that employees would face cashflow problems because their up-front tax bill could exceed their immediate income.

[Hyperduck Quack Quack]

Why do we treat bankers like heroin addicts? It's like because theyr'e addicted to big money, it's assumed they should carry on receiving big money. It's as if because they work with money, the rules are different, like top pop stars and celebrities appear to get away with having drug habits unless they get caught driving while drugged or they attack someone or something. It's about time bankers got a bit of financial cold turkey.