why bankers need big bonuses...

[Paul]

TBH I am quite tired of this discussion, I am as annoyed as most at the bonuses SOME in the banking sector get and I work in it myself. Just because some tool higher up the ladder gets millions for doing little, doesn't mean we all do. I have got 3.5% as a bonus this year and that above average for my dept. as recognition of extra efforts, it is very disproportionate. As a comparison Waitrose is handing out 15% to every one of their employees.

The reasons why it all went 'tits up' are many; the american market was over staurated and the bubble burst - this caused everyone to probe into other countries, the media jumped on board and sensationalised a handful of stories into more than they were. One or two British banks were lending out of their depth and as a result were gaining massive market share, forcing others to follow suit. Some of these (Northern Rock et al.) then suffered, badly. This led to investors withdrawing billions of £££ of shares from banking in general thus meaning they were no longer in a position to cover the lending they had given out previously. Hence the government bailing out.

Couple that with people that lied about what they could afford to borrow, taking out credit to pay their mortgage repayments etc etc etc etc...... You end up in the position we are currently in.

Apologies for the rant but don't believe everything in the media.

 

[Deako]

Exactly, over sensationalised and scape goating aimed at the banks. Media had a field day, less informed believe everything they read. And we working in the banking sector get a bad press.

 

[Roy]

like most things you only hear the bad things and what they want you to hear

 

[Mike Roberts]

Ahh, the bank attacks! Gotta love them.

Lets ignore what the Daily Mail is telling us for 5 minutes and see it from a business perspective.

What you've probably not thought about is "your tax money" that was used to bail out the banks after the media caused a run on Northern Rock was very shrewdly invested by Gordon Brown - yes, remember him?

What he did was buy you all a slice of a very lucrative business for a pittance. You all bought shares at say 50p, you are now seeing a return via dividends and when the banks are in a position to go back to being self-run, they'll have to buy you all out of the shares at the going rate... lets say £3.50. So, your x-billion becomes y-billion without you really lifting a finger.

So, seeing as you stand to make a big profit on your investment, you'd think you'd want to see the businesses doing well?

The more money gets paid in bonuses, the more tax and NI get collected off the back of it.
The more money paid in bonuses, the more money gets spent on the kinds of things that keep a lot of people employed.
The more successful those are earning the bonuses, the more business is attracted to the UK as it continues to be seen as a financial linchpin.

You can't confuse the Government cutbacks with them bailing out the banks, they didn't use all the money they're raping from the public sector to do it, we had more than enough to cover the lend. The banks are a scapegoat for f***ing over the public sector, you should have learnt this from last time they were in.... remember Thatcher?

But then you all cried for change and bought into Cameron's agenda.... you get what you vote for.

Oh, and no, I don't work for a bank before you ask.

 

[clio200cup]

bet that lot took you a while......

 

[Foxspeed]

Ahh, the bank attacks! Gotta love them.

Lets ignore what the Daily Mail is telling us for 5 minutes and see it from a business perspective.

What you've probably not thought about is "your tax money" that was used to bail out the banks after the media caused a run on Northern Rock was very shrewdly invested by Gordon Brown - yes, remember him?

What he did was buy you all a slice of a very lucrative business for a pittance. You all bought shares at say 50p, you are now seeing a return via dividends and when the banks are in a position to go back to being self-run, they'll have to buy you all out of the shares at the going rate... lets say £3.50. So, your x-billion becomes y-billion without you really lifting a finger.

So, seeing as you stand to make a big profit on your investment, you'd think you'd want to see the businesses doing well?

its fantasy if you think that any money made will result in "tax-cuts" :rofl:

were to busy sending our troops to be killed in some backward desert dump:thumbdown:

 

[Mike Roberts]

Who said anything about tax cuts?

It's done, we need to work with it instead of fighting it. The banks do well, the "investment" of our money does well. We then spend it on something that'll do some good, rather then our track record of selfish greed.

I'd rather see the return/tax money keeping nurses/teachers/police/firemen/armed forces in jobs.

 

[Foxspeed]

Who said anything about tax cuts?

It's done, we need to work with it instead of fighting it. The banks do well, the "investment" of our money does well. We then spend it on something that'll do some good, rather then our track record of selfish greed.

I'd rather see the return/tax money keeping nurses/teachers/police/firemen/armed forces in jobs.

so a total reverse of what we have now...

 

[Mike Roberts]

Yep.

I couldn't care less who was in power at the minute, I'm more annoyed by the manner in which we're going about putting Labour's f*** ups right.

We're all swallowing this line we're having to make up the money that's been used on the banks bail out, like its gone into some black hole never to be seen again.