Bankers Hold RBS To Ransom

[lostboy]

The top bankers of RBS are threatening to quit and ruin the bank if the government steps in to cap the bonusses of its staff, its about time the government did something to cap the frivolous spending and bonuses of what is technically a state funded bank anyway, being the government I don't think the caps would be that low, but these bankers who are one of the main reasons britains economy is now up shit creek without a paddle in the first place should consider themselves lucky to be in a job at all.
If the government does intervene and these bankers carry out their threat it will put billions of pounds of the tax payers money at risk and if this is the case then they should be treated as enemies of the country and jailed for treason.
The Government has the power to stop this and now is the time to use it
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[smegballs]

[panrider_uk]

Let 'em resign.

If the lack of bonuses cause the excessively paid high fliers to move to jobs elsewhere then so be it.

If they're replaced with people of "lesser capabilities" could they really do a much worse job?

Mark
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Current bikes: Honda ST1100 Pan European. Moto Guzzi V85 TT Travel

[Polo]

From an inside point of view I think if the board resigns then a new board comes in. Is that a big deal? I dont really see it as a strong bargaining point to be honest.

However, what are RBS to do? Most other banks are rewarding the money getters with mahoosive bonuses. RBS need to get back to strength - to do this they need decent money getters. Don't reward them and they walk away, RBS take even longer to pay the Government back.

Cap ALL banks and what they can reward people thus creating a level playing field.


Me - I dont work hard enough to qualify for a bonus. I blame BCF!
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My mum smells your fingers

[Skudd]

There can be only so many money getters, if you stop paying top money for them, then there will be fewer top money jobs so that the top money jobs can offer less, it all has a knock on. Yes there will be a short period of not having the best person for the job, but look what the best person did anyway.

The same can be said for these celebs on tv, the likes of Ross and Clarkson being on megga dosh. If the BBC didn't pay them, how long do you think ITV, C4 or Sky will pay top money when they see new talent coming through at a tenth of the price on BBC?
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[stinkwheel]

As I understand the situation. RBS are under contract that if these people meet their specified targets, they have to pay the bonus.

If they renage on this contract, the directors are personally liable to prosecution for breach of contract and/or constructive dismissal. They have been advised by their legal advisors that the only way to avoid this would be to resign.
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[pa_broon74]

Not sure what else can be done other than to let them pay it.

Just another side effect of the whole debacle that leaves a nasty taste in your mouth.


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Didn't catch anything.

[Crazy Manx Man]

It's not just the whole board that's risking the company it's all the staff from top to bottom. Even juniors would consider resigning on the lack of a bonus based on performance - otherwise there's no incentive to perform well. If there's no incentive, then at one point will RBS be regarded as successful? The government struggles to run the country let alone a bank.

Don't forget, because the financial industry is currently in turmoil, it doesn't mean competition stops. There are alot of other companies out there that offer better rewards for people's efforts.

I can imaginae alot of the people complaining about bonuses are also the stupid cunts that borrowed money they couldn't afford, contributing to the crisis.

In essence pointing the blame doesn't solve any of the problems encountered in the learning curve. Essentially, if there's a winner there's a looser. There's only so much money in circulation.

And for those who didn't know, the Government hasn't used taxpayers money purely to bail out the banks - they have issued IOUs called Gilts, and the funding is raised via the very financial markets that are regularly criticised.

Typically those who've invested in gilts are also most likely to be in the higher income tax bracket.

Personally, bankers should get bonuses based on good performance because at the end of the day the Government did get RBS for a good price and if it works well share prices will raise, meaning the Government makes money, will the avergae joe see any benefit from the lucrative investment? Unlikely.
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Too Fast For Even The Plod To Keep Up With

[Itchy]

[Crazy Manx Man]

[Itchy]

[Mushroom]

[AngelGrinder]

As Mushroom said, most of us mugs in this country work for pittance, and never see any bonus what so ever.

Shall all of us in the 'lower ranks' stop working then? I mean, if we don't get any bonus for working hard, why should we?

People need to see the real world sometimes, and try surviving on 40 hour weeks, where you don't even get £200 a week, and see how fair their bonuses seems then.
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Currently Riding - 2002 Aprilia RSV1000 Mille

[Crazy Manx Man]

[Crazy Manx Man]

[Mushroom]

[Mushroom]

[JonB]

I don't work in the banking sector. But i'm pretty sure it is more competitive than working in a factory making alarm clocks.

I was thinking of something the other day. We all sit and complain that our (tax) money is propping up the banks. But how many of us have credit cards, overdrafts and mortgages? Are we not just propping ourselves up? The banks have lent their money to us and so the government are then bailing them out. With the money we earn that could help ease the crisis. It's a bizarre cycle.

Getting into the "Big Wide World (tm)" has given me an insight as to what lengths people have gone for money. I work with someone who has a loan debt of £15,000 to pay off old credit card debt. I work with someone else who has a £1000/month mortgage - Yet earns on average £1400 after tax and is still paying off old credit cards.

Were things really this insane during the boom times? Or do I just work with really financially stupid people? I personally can't stand still being in one of my student overdrafts by £1300.
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[Crazy Manx Man]

[Mushroom]

[Crazy Manx Man]

[Mushroom]

[Kickstart]

Hi

Problem is that they are trying to shut the stable door after the horse has bolted.

The industry has given bonuses for making dire investments, but which short term look half good. If I buy something worth £10 and sell it to you for £15, and then you sell it to me for £20, etc until it changes hands for £100 then that is a massive profit on which a bonus can be based. Then the whole scam collapses and the item drops down to being traded at £1. Buy it at that level and it is easy to make money again. None of the gains are useful though.

Money markets are needed. Same for shares. They support real industries, developing and producing real things. It is those real industries that are actually making the money though, not those gambling on the results. With chasing the money and ignoring the real industries we have landed up with the tail wagging the dog.

All the best

Keith
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[Mushroom]

what Keith said. real industry-

[Crazy Manx Man]