Thursday, February 5, 2009

The piggy party continues

Royal Bank of Scotland 'to pay bankers six-figure bonuses'

None of that Obama-style party-dampening restraint at work here thanks very much. Tuck in boys! There's free taxpayer cash to swill! Oink oink!

Posted by paul @ 09:52 AM (1012 views)
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16 thoughts on “The piggy party continues

  • As long as they spend their bonuses on barbed wire, guns, etc, then they should be ok.

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  • I like the bit where it says that these large bonuses will be very difficult for the general public to understand. You really have to be very clever indeed to understand why these large bonuses are necessary… as clever as a banker in fact.

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  • And tinned food.

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  • I think the powers that be in RBOS have found Kirsty’s Tom Tom that techieman mentioned in the post about her below……..And have found the way to never never land…….Riots this summer are looking more and more likely……Bet Gordy is praying it’s nnot going to be a hot one……

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  • Didn’t Obama put as $400k limit for renumeration? So RBS could pay out a bonus of £200,000 on top of a £70k salary and still be within his limits.

    Not that I agree with banks that have taken bailout money paying bonuses at all, it’s disgraceful and should be zero all round at said institutions.

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  • Problem is Gordo and his rent boy Mandleson are looking more & more arrogant and aloof as the days pass. They really do not see whats coming.

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  • TC…..

    Unfortunately, with Gordon “The city can do no wrong” Brown in charge they Can.

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  • I can’t imagine that these bonuses will be ploughed into property though. next month the seasonal adjustment [Re: Halifax’s numbers] will work the other way.

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  • Another example of ‘light-touch’ regulation.

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  • @9 – it’s ‘soft-touch’ regulation. The bonuses are being subjected ‘to intense scrutiny’ – so that’s alright then. But will they tell us what they look for and which criteria they use when they scrutinise these bonuses? Who gets them? The profitable depts of the banks? If so can we have a set of accounts showing, for example, how overheads are allocated. And what if the profitable depts are merely the counter-trades of the unprofitable depts? Zero-sum game in which losers get their salaries and winners get their salaries plus bonuses – a non-zero-sum outcome?

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  • Well said Paul.

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  • Reckon this is engineered by the Govt. RBS comes out and says its paying huge bonuses, Govt says that’s not on (Mandy has already said it), RBS say they’ve changed their minds in light of what the Govt has said and hey presto, everyone thinks Gordo and Mandy are heroes.

    Either that or they do pay them in which case TC is right!

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  • Unbelievable. In the real world these people should have been sacked not given bonuses . Taxpayers money seems to pay bureaucrats and bankers. What do we get in return?

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  • It’s all one big, comfy ‘club’ for those at the top eh?! Their arrogance is astounding, but the British public have got to get organised and stop being so compliand and apathetic – hey I include myself here too and live so close to Gordo (relatively speaking), that my own behaviour infuriates me!

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  • Slap a 95% windfall tax on them – make that 99%. The lie that these payments are reward for wealth creation has been well and truly exposed by recent events. Now they just audaciously help themselves. Banking salaries and bonuses is one of the great scandals of our time.

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