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Bankster Bob To Face The Shareholders--And They Are Not Happy

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http://uk.finance.yahoo.com/news/Barclays-heads-investor-clash-reuters_molt-94022003.html?x=0

Barclays heads for investor clash over pay
Tommy "Tom" Wilkes and Sinead "Sin" Cruise, 13:58, Tuesday 26 April 2011
LONDON (Reuters) - Barclays (LSE: BARC.L - news) is set to have to defend the pay of top bankers this week as investors balk at proposals to hike CEO Bob Diamond's salary and launch a potentially lucrative bonus system for high flyers.
The British bank has said it wants to link the rewards of senior executives and bankers to its capital strength in a new pay structure that enables it to claw back bonuses if a key ratio falls below a healthy level.
But investors are irritated that senior employees could be paid annual interest of 7 percent on part of their deferred bonuses
-- on top of their original award -- in return for that risk, when the bank's dividend yield is less than 2 percent.

If the hareholders do not put an end to the robbery going on at the top they might start to lose their customer base. If I was with that bank I would have been long gone. I am in process ofshifting to Nationwide from Natwest due to thjeir association with Bankster Hester.

The cheek of it--7% interest on deferred bonuses. Lawless bar stewards.

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http://uk.finance.yahoo.com/news/Barclays-heads-investor-clash-reuters_molt-94022003.html?x=0

Barclays heads for investor clash over pay
Tommy "Tom" Wilkes and Sinead "Sin" Cruise, 13:58, Tuesday 26 April 2011
LONDON (Reuters) - Barclays (LSE: BARC.L - news) is set to have to defend the pay of top bankers this week as investors balk at proposals to hike CEO Bob Diamond's salary and launch a potentially lucrative bonus system for high flyers.
The British bank has said it wants to link the rewards of senior executives and bankers to its capital strength in a new pay structure that enables it to claw back bonuses if a key ratio falls below a healthy level.
But investors are irritated that senior employees could be paid annual interest of 7 percent on part of their deferred bonuses
-- on top of their original award -- in return for that risk, when the bank's dividend yield is less than 2 percent.

If the hareholders do not put an end to the robbery going on at the top they might start to lose their customer base. If I was with that bank I would have been long gone. I am in process ofshifting to Nationwide from Natwest due to thjeir association with Bankster Hester.

The cheek of it--7% interest on deferred bonuses. Lawless bar stewards.

RB,

as I have said before, the shareholders cannot put a stop to this nonsense. All those pensioner scheme members and unit trust holders that are the true beneficiaries of the shares, dont get to cast their votes. Instead those votes are stolen by the bankers mates, who invariably vote in every klepto pay scheme they can.

This will only come to an end when voting on shares is banned, unless you are the individual that owns the shares. That will bring this to a stop. A few angry voices at the shareholders meeting will change nothing.

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RB,

as I have said before, the shareholders cannot put a stop to this nonsense. All those pensioner scheme members and unit trust holders that are the true beneficiaries of the shares, dont get to cast their votes. Instead those votes are stolen by the bankers mates, who invariably vote in every klepto pay scheme they can.

This will only come to an end when voting on shares is banned, unless you are the individual that owns the shares. That will bring this to a stop. A few angry voices at the shareholders meeting will change nothing.

You have summed up the reality of it.

The only way to beat the banksters is to withdraw your money and hope everyone else does the same.

In the meantime Bankster Bob and his mates will continue looting the tills of real money while creating fictional money as justification.

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. I am in process ofshifting to Nationwide from Natwest due to thjeir association with Bankster Hester.

Personally i wouldnt bother with Nationwide, i had alot of issues with them, some my own making, some not, and since i moved back to HSBC my banking has been happier.

Nationwides call centre(s) are dreaful, and they (nor do the branch staff) have any interest in discussing account options, etc unless you take a mortgage with them. to me it seemed that the day to day banking was just a sideline and not important to them as mortgages were.

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But investors are irritated that senior employees could be paid annual interest of 7 percent on part of their deferred bonuses

:lol:

That's really taking the biscuit.

This level of corruption takes talent.

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Its really pointless getting cross about this. The likes of Bob Diamond are modern day robber barons who have hijacked the banking system and our democracy.

Bow down to your new Masters. Voting won't cut, it will require revolution to shift these buggars, and if you haven't got the stomach for that, put and shut up! ;)

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You have summed up the reality of it.

The only way to beat the banksters is to withdraw your money and hope everyone else does the same.

In the meantime Bankster Bob and his mates will continue looting the tills of real money while creating fictional money as justification.

Quick - empty the banking system.

Everybody move your money to Lloyds then order sterling travellers cheques over the phone at 0%.

There is also no commission charge when buying Sterling Travellers Cheques over the phone but in a branch you will be charged 1.5% commission - minimum £3

http://www.lloydstsb.com/travel_main_page.asp

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Take all of your money out of Barclays. And Lloyds. And HSBC, RBS, Santander, Natwest, Northern Rock etc etc.

I moved from Barclays to Smile (The Co-op) a couple of years ago and everyone should do the same if they care about reform, no matter what the interest rates (tried to open an account with Nationwide but they seemed to be too incompetent to even do that!).

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Guest sillybear2

CoCo bonds are a joke, getting paid in "risky" bank shares is even more so, do you know what they do within hours after they receiving these bonuses? They pledge the shares as collateral at their broker, borrow against them to buy further equities / property / hookers / booze / nazi themed BDSM parties ( :ph34r: ) / gold then buy a put option to protect them against losses on the original bank shares, so they can drop 99% in value and it won't leave them a penny out of pocket. So much for sharing the pain or making sure they're exposed to any downside in their deal making.

Deferred shares > magic > instant cash bonus.

Move along now.

Diamond is like some geeza that has found a cash point spewing out free money, don't judge them too hard, for they know not what they do. Blame the people who installed the cash point and kept feeding it with fresh notes.

Edited by sillybear2

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Well they got theri money with every resolution passed with 90% + of the votes. Thnk you pension funds!!!

These same pension funds have our money in them which should be earning decent dividend payments. Instead the pension funds are part of the scam and are allowing our pensions to be lost by these crooks. You couldn't make it up.

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These same pension funds have our money in them which should be earning decent dividend payments. Instead the pension funds are part of the scam and are allowing our pensions to be lost by these crooks. You couldn't make it up.

What else do you expect when pension funds are run by more or less the same sort of people as the banks? They might not be the same individuals, but they're pretty much identical twins.

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Guest sillybear2

Well they got theri money with every resolution passed with 90% + of the votes. Thnk you pension funds!!!

Of course, it's corporate governance at its finest and the 'principal-agent problem' in action. Check 'dis :-

"Barclays in 2010 paid out GBP670 million in shareholder dividends, and around GBP11.9 billion in staff costs, including bonuses. In 2007, before the financial crisis took hold, dividends came to GBP2.2 billion and staff costs including bonuses were GBP8.4 billion."

Seems like a fair balance, I wonder who decided on that? Oh well, if the shareholder votes have been captured by crony fund managers at least the man on the street with an indirect holding in Barclays has a powerful board packed full of strong minded non-executive directors always acting in the best fiduciary interests of the wider shareholders against a self-serving avaricious management, oh, wait a minute :lol:

I wish somebody would place some ridiculous propositions on the ballot just to just to check whether anyone actually reads them and whether they'd get voted through unanimously, something like "Whether you confirm our plan to turn the moon into custard for the benefit of mankind".

Still, nice to see the World Development Movement making a bit of noise about commodity speculation, maybe it will remind them that their pieces of paper can have an acute impact in the real world. Not that the traders actually care, of course.

Edited by sillybear2

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These same pension funds have our money in them which should be earning decent dividend payments. Instead the pension funds are part of the scam and are allowing our pensions to be lost by these crooks. You couldn't make it up.

Yes, and you need a Government ignorant or willfully ignorant of how shareholder votes are stolen to allow this pillage to continue. I am not even sure that this will stop when pension schemes collapse and bring down their controlling companies.

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Guest sillybear2

Yes, and you need a Government ignorant or willfully ignorant of how shareholder votes are stolen to allow this pillage to continue. I am not even sure that this will stop when pension schemes collapse and bring down their controlling companies.

In the real world we all know they'd actually be bailed out or directly dumped in the lap of state, just as they're now planning with BT.

Government is perfectly aware of how this game is played, that's why so many ex-ministers and MP's end up sitting on these boards. Long may the 'Barclays Socialist Workers Collective' continue. <_<

Edited by sillybear2

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In the real world we all know they'd actually be bailed out or directly dumped in the lap of state, just as they're now planning with BT.

Long may the 'Barclays Socialist Workers Collective' continue. <_<

Even the UK taxpayer cannot bail everyone out. State default is on its way and it wont be pretty.

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Even the UK taxpayer cannot bail everyone out. State default is on its way and it wont be pretty.

It's not exactly roses now is it? I think it would be worth a depression to see these masters of finance go down.

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  • 312 Brexit, House prices and Summer 2020

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      • down 5% +
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