Bank bonuses

[masona]

Just one bank as an example, RBS

I understand the taxpayers owned 68% of RBS, if the taxpayers asks for the return of the money that bailed them out, would they still pay the bonuses to the staffs

 

[AndrewSchofield]

I know someone who works for RBS HR and she says that all employees have been told that, while they are contractually obliged to offer the bonuses, it is acceptable for employees to decline the bonus payment. Wonder how many will say no??

And i thought a bonus was an additional payment which was in some way related to performance? Seeing as the banks have had just about one of the worst years ever, how is anyone still due a bonus?

 

[Hysteresis]

Did you see Barclays profits announcement ? Over £6Bn. That is over £25M per working day. I then noticed that on an account I have with these b*******s they are paying me 0.1%. It's no wonder they are making £25M/day. At least they haven't had a taxpayer funded bail out.
In answer to the original question though, it is obscene for these banks to take taxpayers money then dish it out to there fat bloated managers.
Surely the RBS management team have given their unequivocal apology and by doing so they have admitted responsibility of their own incompetence and as such have agreed to the fact that they have not performed satisfactorily to receive the bonus. Now let us watch and see if they refuse their fat cheque for under achievement. No prizes for the answer.

 

[AndrewSchofield]

Surely the RBS management team have given their unequivocal apology and by doing so they have admitted responsibility of their own incompetence

One of them was asked this question yesterday - he said that the apology was on behalf of RBS/HBOS 'the bank' and that he did not feel he was personally at fault - it wasn't a personal apology - apparently!

 

[tim west]

Did you see Barclays profits announcement ? Over £6Bn. That is over £25M per working day. I then noticed that on an account I have with these b*******s they are paying me 0.1%. It's no wonder they are making £25M/day. At least they haven't had a taxpayer funded bail out.
In answer to the original question though, it is obscene for these banks to take taxpayers money then dish it out to there fat bloated managers.
Surely the RBS management team have given their unequivocal apology and by doing so they have admitted responsibility of their own incompetence and as such have agreed to the fact that they have not performed satisfactorily to receive the bonus. Now let us watch and see if they refuse their fat cheque for under achievement. No prizes for the answer.

Sometime back I suspected insurance companies of a similar sort of scam, jump on the bandwagon of saying the economy is so bad that your endowments havn't done well so any payout is going to be small or even negative! unless of course you plough more money into the schemes no payouts means more money for bonuses! barstewards. where's the inquiry regards the insurance bosses?

 

[Hysteresis]

Another Financial company with whom I have invested for well over 20 years, said nothing to me about suddenly applying a Market Value Adjustment to my Bond. It reduced it's value by more that £10K without warning or even having the decency to tell me thay had done it. My understanding of MVA was to avoid the short term investment that people were in the habit of doing, so why do these B******s apply an MVA to an investment which is 0ver 25 years standing. They just decided they would do it 'Cos they could. I am going to sit it out for a couole of years in the hope that the MVA is taken off and then close the bond. These people are out to rip you off and don't care about loyalty. I complained to the Financial Ombudsman, that a well known company can reduce your bond without warning and therefore without the opportunity to cash in the bond before they do reduce it's value. I just consider these practices to be corrupt and immoral. B""""""s The Lot of 'em. Even the Financial Ombudsman did not have the decency to reply to my complaint.

 

[mark vincent]

The R.B.S. management team were asked what formal qualifications they had in banking each one admitted that they had none. It is not what you know it is who you know, the old boys network is still alive and well in the banking world.

 

[tim west]

The whole of our society is based on those that do all the work and those that live off others hard work and i'm afraid bankers fall in the latter category. Time for a revolution?

 

[mark vincent]

Surely the RBS management team have given their unequivocal apology and by doing so they have admitted responsibility of their own incompetence

One of them was asked this question yesterday - he said that the apology was on behalf of RBS/HBOS 'the bank' and that he did not feel he was personally at fault - it wasn't a personal apology - apparently!

I watched them on the telly, i got the impression they were saying sorry with their tongues firmly in their cheeks. If they were in China they really would be sorry.

 

[mark vincent]

The whole of our society is based on those that do all the work and those that live off others hard work and i'm afraid bankers fall in the latter category. Time for a revolution?

After the football seasons over, you can have war, famine, and plague going on in the rest of the world, but in this country as long as the footie on the telly there will never be a revolution. It is significant that all the revolutions and Civil Wars in England took place before Television was invented.