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Society Should Be Shamed By £14bn City Bonuses

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http://www.dailymail.co.uk/pages/live/arti...in_page_id=1770

Record bonuses paid to City workers were yesterday condemned as "society's shame".

Economists have warned that the growing number of super-rich is creating an underclass. BBC Radio 4's Today programme yesterday revealed research showing that the chief executives of the FTSE 100 companies received 67 times the pay of their average employee.

It is behind the massive house price inflation in Britain's most sought-after areas, with prices in Kensington and Chelsea having risen by more than a third annually since 2000.

Brendan Barber, general secretary of the TUC said: "The fortunes of the City super-rich show no sign of abating, while thousands of vulnerable workers languish on poverty wages."

Martin Narey, chief executive of Barnardo's, said: "The inequality this represents should shame us as a society. Right now, the life expectancy of children born in some parts of Glasgow is lower than life expectancy of children born on the Gaza strip.

"Yet just one quarter of the annual amount paid in City bonuses would halve child poverty in the UK."

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The hard-working middle class families get squeezed by Brown's unfair taxation & lower wages while the rich gets richer and the poor gets poorer. Key workers & millions can't afford to buy their homes in 7 out of 10 UK towns while those fat cats outbid each other in Britain's most sought-after areas. Social justice at its best!

Are you listening Brown?

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The hard-working middle class families get squeezed by Brown's unfair taxation & lower wages while the rich gets richer and the poor gets poorer. Key workers & millions can't afford to buy their homes in 7 out of 10 UK towns while those fat cats outbid each other in Britain's most sought-after areas. Social justice at its best!

Are you listening Brown?

....hey....!....they pay tax on the bonus ...don't they.....!..40% to the Government and that's us.....!.....the real question is how can they decide the bonus this early in the year.....?.....after all as mentioned elsewhere the half year results have not had the current crisis factored in ...... the '14' figure sounds like a wish list....and how many of them will be around end December or whenever to collect...... :o:o:P

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I've posted my views on those that work in the city and I've spent enough time around them to confidently describe most of them as sociopaths. They live in a world where money is everything, and the trappings of wealth are to be flaunted at every opportunity. I actually know a guy who works in the city who got his doctor to prescribe prozac because he was depressed that the ridiculously expensive car he wanted had a 12 month waiting list.

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Guest Charlie The Tramp

I remember when I employed my first engineer who actually got paid more than me for doing less. He worked a 3 day week solidly for 8 hours per day but the other 2 days he went home early just doing a couple of service calls. During one year he worked a full 5 day 40 hour week doing what he was paid for which increased our profits to my advantage.

He had the audacity to ask for a bonus merely because he had worked a full 40 hour week as he knew my profits were up.

You can guess what my answer was.

And that is my attitude to bonuses. ;)

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I remember when I employed my first engineer who actually got paid more than me for doing less. He worked a 3 day week solidly for 8 hours per day but the other 2 days he went home early just doing a couple of service calls. During one year he worked a full 5 day 40 hour week doing what he was paid for which increased our profits to my advantage.

He had the audacity to ask for a bonus merely because he had worked a full 40 hour week as he knew my profits were up.

You can guess what my answer was.

And that is my attitude to bonuses. ;)

.....bonuses...? ...your guy was due a pay cut.... :o:o:o

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The hard-working middle class families get squeezed by Brown's unfair taxation & lower wages while the rich gets richer and the poor gets poorer. Key workers & millions can't afford to buy their homes in 7 out of 10 UK towns while those fat cats outbid each other in Britain's most sought-after areas. Social justice at its best!

Are you listening Brown?

Do you perhaps not think that these city workers are actually highly qualified very hard working professional people (and thats professional in the true sense) who bring in vast sums of money to the UK economy and donate 40% of their earnings to the exchequer.

Oh, green-headed monster! Tell you what pal, if you think its all sunshine and laughter in the City why dont you pick up a few books and go and join them?

I really get so fed up with people on this board constantly whinging about anybody and everbody else's line of work claiming they are lazy, overpaid no-good slackers. Well, why dont you quit your extra-hard working under-paid job and go and become a GP/Accountant/Nurse/Policeman/Anybodyinthepublicsector/Anybodyintheprivatesector since all these other people evidently get paid a £bazillion per second for watching the telly?

Could it be that you know deep down that the work is hard and the hours long, that the money isnt that good for the vast majority in any of these areas, that the money only becomes good after years and years and hard work and experience, that the qualifications take years and cost a fortune to accrue in the first place? Or perhaps you just prefer whining anonymously on the internet because you're just too f*cking pig-@rsed stupid and lazy to do anything else?

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Guest vicmac64

I agree entirely this is just pure wrong - and these folks should be investigated heavily after the crash they have been responsible for creating to see if they have broken any of the rules. If they have then they should have all assets stripped from them.

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Guest vicmac64
Do you perhaps not think that these city workers are actually highly qualified very hard working professional people (and thats professional in the true sense) who bring in vast sums of money to the UK economy and donate 40% of their earnings to the exchequer.

Oh, green-headed monster! Tell you what pal, if you think its all sunshine and laughter in the City why dont you pick up a few books and go and join them?

I really get so fed up with people on this board constantly whinging about anybody and everbody else's line of work claiming they are lazy, overpaid no-good slackers. Well, why dont you quit your extra-hard working under-paid job and go and become a GP/Accountant/Nurse/Policeman/Anybodyinthepublicsector/Anybodyintheprivatesector since all these other people evidently get paid a £bazillion per second for watching the telly?

Could it be that you know deep down that the work is hard and the hours long, that the money isnt that good for the vast majority in any of these areas, that the money only becomes good after years and years and hard work and experience, that the qualifications take years and cost a fortune to accrue in the first place? Or perhaps you just prefer whining anonymously on the internet because you're just too f*cking pig-@rsed stupid and lazy to do anything else?

NO I do not - they are parasites on society.

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Guest vicmac64
Do you perhaps not think that these city workers are actually highly qualified very hard working professional people (and thats professional in the true sense) who bring in vast sums of money to the UK economy and donate 40% of their earnings to the exchequer.

Oh, green-headed monster! Tell you what pal, if you think its all sunshine and laughter in the City why dont you pick up a few books and go and join them?

I really get so fed up with people on this board constantly whinging about anybody and everbody else's line of work claiming they are lazy, overpaid no-good slackers. Well, why dont you quit your extra-hard working under-paid job and go and become a GP/Accountant/Nurse/Policeman/Anybodyinthepublicsector/Anybodyintheprivatesector since all these other people evidently get paid a £bazillion per second for watching the telly?

Could it be that you know deep down that the work is hard and the hours long, that the money isnt that good for the vast majority in any of these areas, that the money only becomes good after years and years and hard work and experience, that the qualifications take years and cost a fortune to accrue in the first place? Or perhaps you just prefer whining anonymously on the internet because you're just too f*cking pig-@rsed stupid and lazy to do anything else?

Your final comments smack of desparation.... are you feeling desparate today - I presume you work in the city..

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The hard-working middle class families get squeezed by Brown's unfair taxation & lower wages while the rich gets richer and the poor gets poorer. Key workers & millions can't afford to buy their homes in 7 out of 10 UK towns while those fat cats outbid each other in Britain's most sought-after areas. Social justice at its best!

Are you listening Brown?

Is this realy the 'Daily Mail'?, fk me stupid!, last time things were like this they were the full on champions of said greed and society division, oh hang on a minute, that was when the Tories were in power, how stupid of me! , and perhaps the editor in previous years could live like the current generation of city slickers but now he too has been outpriced. Having said that I would say that Labour is guilty of letting these things get out of hand, co-oporate excess, HPI, immigration etc, apart from the minimum wage they do seem to have carried out the Tories wishes to the letter

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Awww diddums, let's have a moan about bonuses and call people morons who have the audacity to suggest 40% gets paid to the exchequer.

Since when did it say 'if you can't beat them, join them. If you can't join them, moan like a ...'

Regards.

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NO I do not - they are parasites on society.

Yup, parasites. And as for tax - :lol: - most of the guys getting the top bonuses will be non-doms or will have some kind of elaborate scam (paid in gilts, or gold, or some other such thing) to avoid tax at the rate we all pay. After all, it's the self same over-complex opaque systems that have created the crisis in CDOs, etc. around the world.

They have been doing this for years and getting away with it. Time for it to be stopped, but by who?

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Your final comments smack of desparation.... are you feeling desparate today - I presume you work in the city..

No I dont work in the city - but dont worry, I'm sure I work in some area you regard as no-good and parasitic.

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NO I do not - they are parasites on society.

No you dont think they are hard working, highly qualified proffesionals or no, you arent a stupid, lazy fool who would rather moan on the internet than get paid a fortune for doing nothing?

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Guest vicmac64
No you dont think they are hard working, highly qualified proffesionals or no, you arent a stupid, lazy fool who would rather moan on the internet than get paid a fortune for doing nothing?

No - I work real hard own everything I have and can look my friends and family in the eye. I am a British Patriot, I love my country and have no time for people with a get rich quick mentality. I believe true wealth comes from being content with ones part in life. By the way I have NEVER taken any handouts in any form from the British Government and I don't believe the 'city' to be the hub of the UK... It is the people of the UK who matter - not the scimmers at the city.

By the way have a nice day if you work in the city today, where do you think trade will end today?

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Guest vicmac64
I remember when I employed my first engineer who actually got paid more than me for doing less. He worked a 3 day week solidly for 8 hours per day but the other 2 days he went home early just doing a couple of service calls. During one year he worked a full 5 day 40 hour week doing what he was paid for which increased our profits to my advantage.

He had the audacity to ask for a bonus merely because he had worked a full 40 hour week as he knew my profits were up.

You can guess what my answer was.

And that is my attitude to bonuses. ;)

Yeah my attitude too.

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Guest vicmac64
Yup, parasites. And as for tax - :lol: - most of the guys getting the top bonuses will be non-doms or will have some kind of elaborate scam (paid in gilts, or gold, or some other such thing) to avoid tax at the rate we all pay. After all, it's the self same over-complex opaque systems that have created the crisis in CDOs, etc. around the world.

They have been doing this for years and getting away with it. Time for it to be stopped, but by who?

The irony is it will stop itself - its in its deaththroes right now.

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No - I work real hard own everything I have and can look my friends and family in the eye. I am a British Patriot, I love my country and have no time for people with a get rich quick mentality. I believe true wealth comes from being content with ones part in life. By the way I have NEVER taken any handouts in any form from the British Government and I don't believe the 'city' to be the hub of the UK... It is the people of the UK who matter - not the scimmers at the city.

By the way have a nice day if you work in the city today, where do you think trade will end today?

Can you explain why working in the city would affect your ability to look someone in the eye, or what research you have done to show workers in the city have a less content life than others. Or perhaps which city worker has said they matter more than the people of the UK...

It just sounds like you have a chip on your shoulder.

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Yup, parasites. And as for tax - :lol: - most of the guys getting the top bonuses will be non-doms or will have some kind of elaborate scam (paid in gilts, or gold, or some other such thing) to avoid tax at the rate we all pay. After all, it's the self same over-complex opaque systems that have created the crisis in CDOs, etc. around the world.

They have been doing this for years and getting away with it. Time for it to be stopped, but by who?

And what about us suckers who are not non-doms who still pay 40% tax? Sure, there are schemes to reduce tax even for doms, but thus far I have resisted (though not sure for how much longer as I see more and more being sp*nked up the wall by the government).

I work on a credit derivative desk which structures corporate credit CDOs amongst other products. We work hard, make our money, pay our taxes. My boss drives a boxster, I drive a BMW 530 on an 02 plate (bought in 05). We are not all flash gits, in fact the majority of people I would argue are not, it's just the ones who are who get the exposure; what makes a better headline a) Banker sprays 42k bottle of bubbly up wall or b ) banker buys 2-year-old BMW touring?

I woudl be interested to find out what occupatinos other people have and ages? As stated above

Occupation: Credit Derivatives Structurer

Age: 30

(and before anyone starts with the "you can't be otherwise you would not ahve time to be surfing web etc" the answer to that is "I am, but business is quiet at the moment " :rolleyes: )

Edited by kilroy

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No - I work real hard own everything I have and can look my friends and family in the eye. I am a British Patriot, I love my country and have no time for people with a get rich quick mentality. I believe true wealth comes from being content with ones part in life. By the way I have NEVER taken any handouts in any form from the British Government and I don't believe the 'city' to be the hub of the UK... It is the people of the UK who matter - not the scimmers at the city.

By the way have a nice day if you work in the city today, where do you think trade will end today?

The majority of people who work in the city are hard working individuals who just want the same as everyone else - a career to support their family / life and look forward to their bonus in the hundreds or thousands (not millions) if (stressed) they have worked hard and actually earned it . The ones who get the big bonuses are in a minority and I agree this is excessive and wrong but don't categorise all city workers in this brackett.

I think this article is probably more an attempt to dampen expectations of city workers bonuses for next year

Edited by mew too

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And what about us suckers who are not non-doms who still pay 40% tax? Sure, there are schemes to reduce tax even for doms, but thus far I have resisted (though not sure for how much longer as I see more and more being sp*nked up the wall by the government).

I work on a credit derivative desk which structures corporate credit CDOs amongst other products. We work hard, make our money, pay our taxes. My boss drives a boxster, I drive a BMW 530 on an 02 plate (bought in 05). We are not all flash gits, in fact the majority of people I would argue are not, it's just the ones who are who get the exposure; what makes a better headline a) Banker sprays 42k bottle of bubbly up wall or b ) banker buys 2-year-old BMW touring?

I woudl be interested to find out what occupatinos other people have and ages? As stated above

Occupation: Credit Derivatives Structurer

Age: 30

(and before anyone starts with the "you can't be otherwise you would not ahve time to be surfing web etc" the answer to that is "I am, but business is quiet at the moment " :rolleyes: )

Are you earning a million pound plus bonus? Those are the guys I am talking about. Many of the people in the City do work hard (often in pursuit of the distant million pound bonus, but never mind) but paying people more than a million pounds is frankly obscene.

If you can't see that, it is a sign of how far detached from the reality of life in Britain 2007 you have become.

For the record:

Occupation: Software developer

Age: 35

(and yes, I have worked in the City)

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Guest Popalot
Do you perhaps not think that these city workers are actually highly qualified very hard working professional people (and thats professional in the true sense) who bring in vast sums of money to the UK economy and donate 40% of their earnings to the exchequer.

Oh, green-headed monster! Tell you what pal, if you think its all sunshine and laughter in the City why dont you pick up a few books and go and join them?

I really get so fed up with people on this board constantly whinging about anybody and everbody else's line of work claiming they are lazy, overpaid no-good slackers. Well, why dont you quit your extra-hard working under-paid job and go and become a GP/Accountant/Nurse/Policeman/Anybodyinthepublicsector/Anybodyintheprivatesector since all these other people evidently get paid a £bazillion per second for watching the telly?

Could it be that you know deep down that the work is hard and the hours long, that the money isnt that good for the vast majority in any of these areas, that the money only becomes good after years and years and hard work and experience, that the qualifications take years and cost a fortune to accrue in the first place? Or perhaps you just prefer whining anonymously on the internet because you're just too f*cking pig-@rsed stupid and lazy to do anything else?

Oops, we have weeded out another one of you city boys..... Did you ever learn about ethics at all, in any part of your education, or was it just maths?

IMHO to sociopath you can add narcissist and psycopath - psychologists have proven that these are the predominant disorders at the top of business.

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