Originally Posted by Leslie
(Post 9836164)
Of course the bankers realise what you say and are unprincipled enough to hold us all to ransom for that very reason, and to continue paying themselves obscene salaries and bonuses.
Les :( If you want to talk of obscene salaries and bonuses, take a look at the pay and bonuses of the "fat-cats" of the public sector funded by the private sector taxpayers and who continue to be rewarded for failure. |
Originally Posted by jonc
(Post 9836594)
It's ridiculous to say bankers hold the everyone to ransom. They no more want the failure of this country's and the world's economy than you or I. The salaries and bonuses are paid in proportion to how much revenue they generate and their productivity, although there are some who have negotiated a guaranteed percentage of bonus in their terms of employment, this practice is being phased out. New recruits can no longer negotiate guaranteed bonuses. There is still some way to go but banks are no longer rewarding failure and there has been a 50% reduction in unconditional bonuses and the bonus pools are now risk adjusted. The FSA brought in the code of practice for remuneration for not just banks but also for trade desks in insurers, re-insurers, brokerages, building societies, and hedge funds.
If you want to talk of obscene salaries and bonuses, take a look at the pay and bonuses of the "fat-cats" of the public sector funded by the private sector taxpayers and who continue to be rewarded for failure. I certainly haven't got a problem with what the banks have done... what can we blame them for - being human? People always try and make the most of the situation they're in; 'the bankers', as they're lovingly referred to now, have only taken advantage of theirs. |
Originally Posted by jonc
(Post 9836594)
It's ridiculous to say bankers hold the everyone to ransom.
|
Originally Posted by GlesgaKiss
(Post 9836659)
Rewarding failure would not even be an option in a truly capitalist environment. To be honest the whole populist slant is laughable... to suggest or even begin to blame the 'free market' for such a situation. What a f*cking backwards world we live in.
I certainly haven't got a problem with what the banks have done... what can we blame them for - being human? People always try and make the most of the situation they're in; 'the bankers', as they're lovingly referred to now, have only taken advantage of theirs. (ps I am under no illusion that we were 18hrs from "global financial collapse" whatever that would of meant I don't know -- but certainly in the short term the ATM machine would have refused to give me my money) |
Originally Posted by jonc
(Post 9836594)
It's ridiculous to say bankers hold the everyone to ransom. They no more want the failure of this country's and the world's economy than you or I. The salaries and bonuses are paid in proportion to how much revenue they generate and their productivity, although there are some who have negotiated a guaranteed percentage of bonus in their terms of employment, this practice is being phased out. New recruits can no longer negotiate guaranteed bonuses. There is still some way to go but banks are no longer rewarding failure and there has been a 50% reduction in unconditional bonuses and the bonus pools are now risk adjusted. The FSA brought in the code of practice for remuneration for not just banks but also for trade desks in insurers, re-insurers, brokerages, building societies, and hedge funds.
If you want to talk of obscene salaries and bonuses, take a look at the pay and bonuses of the "fat-cats" of the public sector funded by the private sector taxpayers and who continue to be rewarded for failure. Of course I would not endorse the pay and bonuses of the fat cats that you mention either. Les |
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