RBS directors threaten to quit
#31
Scooby Regular
Join Date: Aug 2000
Location: God's promised land
Posts: 80,907
Likes: 0
Received 0 Likes
on
0 Posts
But even if everybody involved put their hands up and said "Yep, it was me", how would that change the strategy for getting us out of the hole we're in? How does culling a board and potentially destroying a bank solve anything? Apart from keeping the hyenas happy?
#34
Scooby Regular
Join Date: Nov 2003
Location: riding the crest of a wave ...
Posts: 46,493
Likes: 0
Received 13 Likes
on
12 Posts
i would just love to see the actual balance sheets for the end of the year, not some other spurious time capsule, for these people that have suppposedly net their banks x milllions and have no qualms with pocketing rediculous bonuses as a result
I frankly dont believe , maybe Tel could indulge us
I frankly dont believe , maybe Tel could indulge us
#35
Scooby Regular
iTrader: (1)
Join Date: Jan 1999
Location: UK
Posts: 15,271
Likes: 0
Received 0 Likes
on
0 Posts
The new leadership is eminently employable in this or other sectors.
All the tilting at windmills is merely a regurgitation the tabloid headlines!
#36
£35,000 ?
Or what's your number?
Fact is, they paid no penalty for being **** at their job ....... the market itself has generated big profits - these bankers are still **** at their jobs!
Only now they are in the trough again!
Let them leave!
#39
I don't really understand the ins and outs of it all, but I constantly feel dismay at how so many people get so wound up about tabloid headlines. It's almost got to the point for me whereby I'll believe exactly the opposite of whatever the tabloids are trying to ram down our throats. The fact that they seem to have so much power in this country, is both alarming and sad in my opinion..
Going back to the banks, from what I can tell, RBS is made up of more than one section. The particular section that is getting the 1.5 billion worth of bonuses is a very profitable section, and didn't cause the current crisis. The profits they are generating are helping keep the rest of the bank going, and will be the main thrust behind what brings the value of the bank back up, and will in turn pay back us, the tax payers who bought their shares. So shouldn't we actually want the best people working for us in that section, and pay them the market rate? Like I said though, I don't work in the banking sector, or have anything to do with Finance, so could well have all that wrong.
If you worked as a salesman in a company though, and you were on a contract that said you earn a very small salary (on the market rate for the skills of your job) and make the rest up in bonuses. If you performed well, as did your entire department, and hit all your targets, would you not be pissed off if people said "Sorry, you're not actually going to get any of your contractually agreed bonuses because the R&D department have wasted all their budget"?
Also, I'm pretty sick of hearing how people on the NHS work harder than bankers/footballers/F1 drivers/golfers etc etc. We've all agreed to live in the free world, with open markets. People are paid what their job is valued at. If you don't like it, do something else. If you can't do something else, just get on with what you are capable of doing without moaning about what other people are doing.
And before people moan that the banks were bailed out, yes, that shouldn't have been allowed to happen, but now it has, it would have been much worse to do nothing. We should ensure we get all of our money back (by allowing the profitable arm of the banks to make back as much as they can as quickly as they sensibly can), and then put in legislation to hopefully stop all this happening again.
Sorry for the rant!
Going back to the banks, from what I can tell, RBS is made up of more than one section. The particular section that is getting the 1.5 billion worth of bonuses is a very profitable section, and didn't cause the current crisis. The profits they are generating are helping keep the rest of the bank going, and will be the main thrust behind what brings the value of the bank back up, and will in turn pay back us, the tax payers who bought their shares. So shouldn't we actually want the best people working for us in that section, and pay them the market rate? Like I said though, I don't work in the banking sector, or have anything to do with Finance, so could well have all that wrong.
If you worked as a salesman in a company though, and you were on a contract that said you earn a very small salary (on the market rate for the skills of your job) and make the rest up in bonuses. If you performed well, as did your entire department, and hit all your targets, would you not be pissed off if people said "Sorry, you're not actually going to get any of your contractually agreed bonuses because the R&D department have wasted all their budget"?
Also, I'm pretty sick of hearing how people on the NHS work harder than bankers/footballers/F1 drivers/golfers etc etc. We've all agreed to live in the free world, with open markets. People are paid what their job is valued at. If you don't like it, do something else. If you can't do something else, just get on with what you are capable of doing without moaning about what other people are doing.
And before people moan that the banks were bailed out, yes, that shouldn't have been allowed to happen, but now it has, it would have been much worse to do nothing. We should ensure we get all of our money back (by allowing the profitable arm of the banks to make back as much as they can as quickly as they sensibly can), and then put in legislation to hopefully stop all this happening again.
Sorry for the rant!
Last edited by Sub97; 04 December 2009 at 12:09 PM.
#42
Scooby Regular
Thread Starter
Join Date: Nov 2009
Location: Si hoc legere scis numium eruditionis habes
Posts: 1,383
Likes: 0
Received 0 Likes
on
0 Posts
Not sure , how much money should we keep chucking at them ,give us a number
#43
Scooby Regular
Join Date: Nov 2003
Location: riding the crest of a wave ...
Posts: 46,493
Likes: 0
Received 13 Likes
on
12 Posts
Ah right so the very profitable section DIDNT cause the crisis , got yer
Sorry that really doesnt sound plausible
Note - another person who believes they shouldnt have been bailed out
Sorry that really doesnt sound plausible
Note - another person who believes they shouldnt have been bailed out
#44
These Bankers do my head in................
It's about time we called their bluff - let's see how many ACTUALLY can get better jobs elsewhere!!
Replace them with new fresh keen talent! ANYONE can make money in a rising market - they failed when they had to save themselves in the downturn!
Investments and the skill involved is probably the most hyped of 'skills' in the world - feathering their own nests by gambling with other peoples money!! No skill needed whatsoever!
Resign ... see if we care YOU GREEDY FAT *********'s
It's about time we called their bluff - let's see how many ACTUALLY can get better jobs elsewhere!!
Replace them with new fresh keen talent! ANYONE can make money in a rising market - they failed when they had to save themselves in the downturn!
Investments and the skill involved is probably the most hyped of 'skills' in the world - feathering their own nests by gambling with other peoples money!! No skill needed whatsoever!
Resign ... see if we care YOU GREEDY FAT *********'s
I get the impression that working with money seems to encourage sheer greed in so many of those in that sort of job. I can remember the days when people were prepared to trust banks as decent organisations, but as time has gone by I have seen that trust to have become largely misplaced.
Les
#45
Scooby Regular
Join Date: Oct 2007
Location: Wanting the English to come first in England for a change!
Posts: 2,091
Likes: 0
Received 0 Likes
on
0 Posts
Not true on the first bit, Ed, very few guaranteed bonuses at RBS.
Letting the British banking system collapse is SO easy to say, so so easy. But by Christ you'd all wish it hadn't happened if that had been allowed to occur. It's a pub headline only. The UK would have been plunged into a FAR worse mire than the current recession.
The point about retaining top staff is semi-valid. RBS still rely on their investment banking for a lot of their income. Take away that income stream and all of a sudden the debt that you and i own becomes impossible to repay. Also a crap situation.
Although i'm one of the trough dwellers, it still remains a fact that only a tiny section of the banking industry caused this whole mess. I know that's not really sexy, the public wants to tar all bankers with the same brush, but it just wasn't like that. And trust me, the new regulations we're only starting to see the beginning of will ensure you don't see anything similar in your lifetimes.
I'm not making excuses, i'm not trying to justify things to those who don't want to listen, i'm just telling you that it's not quite the black and white "sack them all" situation the media would love it to be. In my opinion, of course.
Letting the British banking system collapse is SO easy to say, so so easy. But by Christ you'd all wish it hadn't happened if that had been allowed to occur. It's a pub headline only. The UK would have been plunged into a FAR worse mire than the current recession.
The point about retaining top staff is semi-valid. RBS still rely on their investment banking for a lot of their income. Take away that income stream and all of a sudden the debt that you and i own becomes impossible to repay. Also a crap situation.
Although i'm one of the trough dwellers, it still remains a fact that only a tiny section of the banking industry caused this whole mess. I know that's not really sexy, the public wants to tar all bankers with the same brush, but it just wasn't like that. And trust me, the new regulations we're only starting to see the beginning of will ensure you don't see anything similar in your lifetimes.
I'm not making excuses, i'm not trying to justify things to those who don't want to listen, i'm just telling you that it's not quite the black and white "sack them all" situation the media would love it to be. In my opinion, of course.
#46
They did an experiment once - they put up a bunch of schoolkids against the top investment bankers .... as an aside they used a pin to choose investments.
The Schoolkids beat the Bankers, by quite a large margin ......... shockingly, the pin beat both of them!
ANYONE, and I mean ANYONE, with a pin and the Ft Share pages can equal (at least) these clowns who think it's their cleverness that is making money .............. the market is making money BY ITSELF!!!!
Let them walk - lets put it all to the test - I'm pretty sure we will all realise it's been one big con!
The Schoolkids beat the Bankers, by quite a large margin ......... shockingly, the pin beat both of them!
ANYONE, and I mean ANYONE, with a pin and the Ft Share pages can equal (at least) these clowns who think it's their cleverness that is making money .............. the market is making money BY ITSELF!!!!
Let them walk - lets put it all to the test - I'm pretty sure we will all realise it's been one big con!
#47
Scooby Regular
They did an experiment once - they put up a bunch of schoolkids against the top investment bankers .... as an aside they used a pin to choose investments.
The Schoolkids beat the Bankers, by quite a large margin ......... shockingly, the pin beat both of them!
ANYONE, and I mean ANYONE, with a pin and the Ft Share pages can equal (at least) these clowns who think it's their cleverness that is making money .............. the market is making money BY ITSELF!!!!
Let them walk - lets put it all to the test - I'm pretty sure we will all realise it's been one big con!
The Schoolkids beat the Bankers, by quite a large margin ......... shockingly, the pin beat both of them!
ANYONE, and I mean ANYONE, with a pin and the Ft Share pages can equal (at least) these clowns who think it's their cleverness that is making money .............. the market is making money BY ITSELF!!!!
Let them walk - lets put it all to the test - I'm pretty sure we will all realise it's been one big con!
it's **** like Zak Goldsmith that get up my goat -- as far as I can see he has delivered the square root of fvck all to this country
Last edited by hodgy0_2; 05 December 2009 at 09:51 PM.
Thread
Thread Starter
Forum
Replies
Last Post