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Bank Of England Pays 82 People More Than £100,000

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http://www.telegraph.co.uk/finance/jobs/8631112/Bank-of-England-pays-82-people-more-than-100000.html

Providing new disclosure on staff remuneration, the Bank said its three governors, nine executive directors and 66 other senior personnel earn six-figure salaries. The four external members of the Monetary Policy Committee receive £101,362 and “a supplement of 30pc of salary in lieu of membership of the Bank’s pension fund”.

Sir Mervyn King, the Bank’s Governor, declined a pay rise but received £308,252 in salary and benefits. He has already fully earned his pension, which will pay him roughly £200,000 from when he turns 65 in two years time.

The deputy Governors Charlie Bean and Paul Tucker took home £260,988 and £263,063 respectively. Their pay pales against their pension entitlements, though. The Bank added £639,500 to Mr Tucker’s pension pot and £547,800 to Mr Bean’s over the year.

Mr Tucker’s total pension pot is £3.02m and Mr Bean’s £1.97m, though Mr Bean received “additional unfunded entitlements” that the Bank said were “less than £1m”.

If your blood pressure can take it there's more excellent troughing news from those inflation busting geniuses at the BoE.

All this lovely money for doing very little and not being very good at your job. Zero performance related pay and zero performance.

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Nice work if you can get it. Where do I sign up for my 6-figure salary? I'd like to break free from my prison in Serfdom and enter the Pleasure Dome of Elitedom.

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Well. noone really knows who owns the Bank of England, some think it's a private corporation.

Certainly, in the states, the Federal Reserve is no more federal than Federal Express! - it's listed in the Washington business white pages ffs!

So, can private corporations decide how to remunerate? Hell yeah!

...the public sector owns it....the taxpayers are footing these salaries and the index linked pensions...who else...?...the vicious circle to obliteration.... :rolleyes:

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http://www.telegraph.co.uk/finance/jobs/8631112/Bank-of-England-pays-82-people-more-than-100000.html

If your blood pressure can take it there's more excellent troughing news from those inflation busting geniuses at the BoE.

All this lovely money for doing very little and not being very good at your job. Zero performance related pay and zero performance.

I know someone who was working as an economist at the BoE in 2007. He was quite senior. Would sometimes be in meetings where cabinet ministers were present. He was involved in shaping policy and I'd be amazed if he wasn't on well over 100k.

So at the time of the run on Northern Rock he was over our house with his wife (senior civil service, off sick all the time, job held open). He kept saying that Peston was creating a problem by talking up the recession, and that there wasn't a real problem. Rather it was being created by the BBC. I put my point across about how house prices were an absurd multiple of wages and that if FTBs were unable to feed the system if would grind to a halt. He's a polite guy so he didn't dismiss me but we were not in agreement.

This is anecdotal but for me it's instructive on just how blind BoE economists were to reality.

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Bank Of England Pays 82 People More Than £100,000

Hah! BBC pay thousands of executives six figure salaries, and massive expenses claims were rife.

[The kind you would be sacked for in any private sector business]

How many BTL did they all buy, whilst pushing property 'porn' program's, and suppressing mortgage fraud programs?

How about the MPC? How many BTL's did they buy during the boom?

Systemic corruption. At our expense.

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Did you know the BoE has shares? And shareholders? Private, of course.

We don't foot the bill.. they make the money. We pay in slavery via taxation.

...give us a link to the current value....?...will be interesting as they were nationalised in 1946.... :rolleyes:

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Bank Of England Pays 82 People More Than £100,000

Hah! BBC pay thousands of executives six figure salaries, and massive expenses claims were rife.

[The kind you would be sacked for in any private sector business]

How many BTL did they all buy, whilst pushing property 'porn' program's, and suppressing mortgage fraud programs?

How about the MPC? How many BTL's did they buy during the boom?

Systemic corruption. At our expense.

Well, this is my point about the guy who worked at the BoE. It's not corruption. It's largely a mixture of stupidity and greed. Joe public are both stupid and greedy. Many economists are "clever" in that they can pass exams, but when it comes to discerning whether to follow reality or stick to their models, they cannot think for themselves. But in both cases people were not corrupt, just stupid and/or greedy.

Now being a harsh man I would say that greedy stupid people should still suffer.

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I know someone who was working as an economist at the BoE in 2007. He was quite senior. Would sometimes be in meetings where cabinet ministers were present. He was involved in shaping policy and I'd be amazed if he wasn't on well over 100k.

So at the time of the run on Northern Rock he was over our house with his wife (senior civil service, off sick all the time, job held open). He kept saying that Peston was creating a problem by talking up the recession, and that there wasn't a real problem. Rather it was being created by the BBC. I put my point across about how house prices were an absurd multiple of wages and that if FTBs were unable to feed the system if would grind to a halt. He's a polite guy so he didn't dismiss me but we were not in agreement.

This is anecdotal but for me it's instructive on just how blind BoE economists were to reality.

Quite detached from reality. We'll never get the job in the BOE then!

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Quite detached from reality. We'll never get the job in the BOE then!

I forgot one more amusing detail. After this he went to work for a large accountancy firm, helping them consult with the public sector. Not unlike someone moving from the FSA to a bank. He is now looking to move back to the public sector! Yes - the public sector is cushy :-)

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Well, this is my point about the guy who worked at the BoE. It's not corruption.

No BMF.

It is Systemic Corruption.

A government can and should use 'fractional reserve banking, for the common good – but never should such economic power be delegated to private persons or their privately-owned corporations, unelected Banks, which will inevitably lead to cycles of Boom and Bust, because banks will always use such great economic power to corrupt the political system.

For individual cases of Corruption, look no further than our politicians, who made hundreds of thousands in personal profits by flipping houses, in a secret expenses system, whilst voting on policies to inflate the bubble, and not only ignoring, but actively encouraging, and rewarding mass mortgage fraud.

The list goes on and on and on.

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enter the Pleasure Dome of Elitedom.

Yeah, you too, on 100K salary, could live in the heart of sunny Bow:

http://www.rightmove.co.uk/property-for-sale/property-33682220.html

Seriously though, does anyone genuinely think it would be a good idea to pay regulators a fraction of what the people they regulate earn? The FSA may seem to be mostly hopeless but, believe me, they'd be actually, genuinely, pointless if they paid people standard civil service wages.

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Seriously though, does anyone genuinely think it would be a good idea to pay regulators a fraction of what the people they regulate earn? The FSA may seem to be mostly hopeless but, believe me, they'd be actually, genuinely, pointless if they paid people standard civil service wages.

Some of the Directors of the FSA were the bankers themselves e.g. James Crosby

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Yeah, you too, on 100K salary, could live in the heart of sunny Bow:

http://www.rightmove.co.uk/property-for-sale/property-33682220.html

Seriously though, does anyone genuinely think it would be a good idea to pay regulators a fraction of what the people they regulate earn? The FSA may seem to be mostly hopeless but, believe me, they'd be actually, genuinely, pointless if they paid people standard civil service wages.

Trust me your thinking about this all wrong, over me £50k a year to regulate and I'll be all over that job and giving the bankers a shafting.

It's not just about what you offer in a wage, its about the people you employ and how motivated they are to challenge the status quo.

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It's not just about what you offer in a wage, its about the people you employ and how motivated they are to challenge the status quo.

If you want to challenge the status quo then you will never get a job at the BoE...

The BoE, as the bank for banks, is the archetype for conservative thinking.

tbatst2000 makes a good point though, 100K is good but definitely not exceptional for London, you can forget about the high-life on that kind of salary.

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Did you know the BoE has shares? And shareholders? Private, of course.

We don't foot the bill.. they make the money. We pay in slavery via taxation.

Every time someone asks the question "who owns the Bank of England?" you get two different replies - it's nationalised or it has private shareholders. There must be a definitive answer and I would really like to know what it is.

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Every time someone asks the question "who owns the Bank of England?" you get two different replies - it's nationalised or it has private shareholders. There must be a definitive answer and I would really like to know what it is.

...it's public sector....you own it....include it in your assets.... :rolleyes:

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...it's public sector....you own it....include it in your assets.... :rolleyes:

Oh good, I'm rich beyond my wildest dreams! Oh wait, I must be in trillions of pounds of debt now.

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Some of the Directors of the FSA were the bankers themselves e.g. James Crosby

Well, quite! I doubt they'd be working for the FSA if the package was 30K and some luncheon vouchers.

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  • 284 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%



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