Goldman Sachs announces non-cash Bonuses
 

The Bonuses will be paid in the form of 'Restrictive Stock' ..... I guess it's a step forward, but I still wouldn't give them a penny.

Wow - I am totally shocked. The finest financial minds in the business manage to outwit our dumb chancellor by merely twitching their little finger!

Well he is only a backwater solicitor!

To give you an insight here ;)

I have a friend who's son goes to a public school, at that school one of his son's classmates has a father who works for a "financial institution" (of course I wont say which one but have a guess ;))
Now a few years back (less than 5) this guy had a bonus from said company he worked for, if you want to hazzard a guess how much he received then go ahead ;)

Tony:)

It really depends where he worked.

The average bonus (yes that is average across all the company from CEO to teaboy/girl) is $647,000 at Goldman Sachs this year. So the top people are getting bonuses in excess of $20m. The very top people in this sector internationally will get $100m, even though they have base salaries of only $250,000.

Even in your average large insurnance company the top 50 will be getting bonuses in 6 figures (although probably 50% cash, 50% stock tied in for three years).

So my answer is anything from £100,000 to £10,000,000 depending where he worked.

Your well off the mark, start with the biggest figure and go up (alot :eek: )

Tony:)

Well if his dad is Bob Diamond (even in this crazy world there aren't that many bonuses over £10m) then he did get $120m a couple of years ago but only $25m this year.

Although my biggest figure was $100m so I am guessing not north of that as you run out of people earning that kind of money.

Nah not him, he made £50,000,000.00 which is imho severe overkill for anyone (and he aint a director either :eek: )

Tony:)

Tony, sorry but i seriously challenge that. If you can PM me his name, i'll find out what he was really paid.

And it must be a ballache to know you're not in their league for this to ever concern you anyway.

Fair play to GS, they stood to lose the most from this tax is was inevitable that they would side step the system. I don't know too many people in the city that aren't economical in the way they get taxed!

I agree that there are only a handful of people, like Diamond, who make that kind of money on financial services. But he could be one of those people.

Absolutely. In 2007/8 we all had a good year, but that's still big money even by Goldie's standards. I bet a lof of that was stock options, not an actual cash payment.

...and the stock will now be worth £1.71 ;)

my little sisters in law goto the same school in NHG as Scott Mead's children

he was the GS banker who had 2 million syphoned from his current account for over a two year period -- without noticing

funnily he won a weeks stay in a Tuscan villia in the schools auction of promises

he didn't bother taking and raffled it for the teachers

It's another world .... and why those in it cannot see the real world in which most of us live.

Pete - but none of really have access to each other's worlds. Most of us live in our own spheres and within our own experiences.

People who earn £20k a year think people who earn £50k cannot see the real world. And people who earn £50k think the same for people who earn £300k.

Where does the line between the real world and the unreal world begin and end?

Not sure why you're bothering, Trout :rolleyes:


Ask him about the wages of Middlesbrough FC players. Might be a tad inconvenient but possibly worth a go. Inconsistent bull$hit back is probably the worst that can happen :thumb:

You mean that those amateurs up at Middlesbrough are actually paid?!

Not just paid, Trout. Hideously over-paid.

I'm assuming the reposté goes something along the lines of them providing a service that people demonstrably want, whereas bankers are providing a service that only lines their own pockets. If that's the case, for God's sake don't talk about wealth creation, i did and i think it went about ten miles over his head. Stick to the basics. :thumb:

Let's clear something up ... I am paid a high wage for producing something that no-one else can produce (well, not many anyway). What comes out of my efforts lends something concrete to the world in which we live and allows Bankers to sleep well in their mansions.

Bankers, and their hideously over inflated wages and bonuses are a different breed - they do little, make nothing, benefit no-one but themselves ...... it really is just money for nothing.

Let them leave and get a job elsewhere ... if they can! Let's call their bluff - then we shall see their world is built on sand.

I also think footballers are over paid ... but, we are currently talking about bankers.

Told you Trout, "no-one but themselves" :thumb:

I can't be bothered to spell out O-level economics to somebody that ill-informed, but feel free to have a go if you're so inclined. :)

There is just so much cash in the system (a bit more now, due to some easing) - usually all that happens is that Bankers move this same pot of money about ...... now, of course, due to the Government pumping/printing more money the Bankers are making out like they are MAKING it! :rolleyes:

Beggars belief ... like I said, a monkey in a straightjacket can make money in the current markets ... Bankers are trying to say it's through their skill - which is plainly poppycock.

The above is basic economics .... those in the game are (I think genuinely) blind to the facts.

Lets keep it simple. Without the banks, where would your business be? Who provided the liquidity to invest and expand your business? Where are your savings? Who will provided you your mortgages/loans/credit when you didn't have enough cash? Who will look after your pensions investments? Have you ever used a credit card/debit card? Do you have a current account? Do you pay your bills by direct debit? etc etc etc.. If you use any of these services, you're helping to keep these "greedy" banks in business.

I have no problem with Banks ....... none at all ......... we are talking what is a fair remuneration for a group of people who simply move money around and claim they are somehow 'making' something.

What's a fair renumeration? Without bankers there would be no banks that provide the services you and everyone else take for granted.

but there are bankers and there are bankers

do you mean retail or casino?

I have said before, £75,000 should be adequate remuneration .... we are paying their wages, remember!

Pete, you're not paying a PENNY of my wages. Continue. :)

Good ... a penny would be too great a price to pay! ;)