Is it right for RBS to pay out a £1.5billion bonus bucket?
They say that if they don’t pay these bonuses, prominent staff will leave and go to other banks that do, which would in theory cause RBS to struggle as a going concern. On the other hand, 75% of that is our money: think of the impact £1.125billion could have on any ongoing public sector project.
RBS have said they don’t want to change their policy because one shareholder thinks they should. Unfortunately for them, though, that one shareholder saved the company after it racked up the biggest corporate loss in history.
MPs have been getting stuck in, which I find quite laughable. We all want to take their “bonuses” off them (their expenses) and they certainly don’t like it; instead wanting to boost their salary by £40,000 per year to make up for a perceived loss in expenses. I thought expenses were expenses, not supplementary income, but there you go.
Anyway Harpie Harperson has branded the RBS board as reckless, whilst unsurprisingly the Lord of Darkness has offered sympathy to them (in exchange for a… bonus?). The Liberal Democrats’ Vince Cable has proffered that the Government should call the bluff of the directors and let them resign if they don’t like it.
I think it’s a bit pointless clamping down on bonuses because like Barclays are doing, banks will simply increase basic salary to compensate with the net result being the same. These bankers do create serious wealth for banks and their bonuses pale into insignificance compared with the money they create for their employer. If someone made me £200million I’d be happy to pay them a multimillion pound bonus.
But on the consumer side, banks are still not lending at reasonable rates. Taking a look at mortgages you’re still paying around 3% above base rate which is a hell of a markup. You can’t even get a decent savings account and in some savings accounts with a variable rate the bank now takes interest from your account rather than adds it to it!
They’re on about breaking up these large banks which might be a good idea because it would limit consumer exposure to the risk incurred by any one bank, but what of HSBC? They didn’t get any Government money and they still pay bonuses so is it counter productive to break up Lloyds and RBS and leave one banking juggernaut to gobble up all the customers (which they are doing quite successfully already)?
Opening soon, FREE new homes for RBS bankers:
Belsen,Auswitz,Guantanamo…………..
No these exorbiant bonuses are NOT right. These greedy bankers get paid enough money for helping the Labour Government to wreck the economy already. Bankers are not uniquely talented people like eminent doctors, scientists or professors, they are just greedy and selfish scumbags. If they all fuck off abroad because they can’t have bonuses then so what. Plenty more people would be grateful to just have their huge salaries without the bonuses. I am furious that our money is being spent on rewarding incompetence (we already have to pay MPs salaries) with these bonuses. If the Government is going to spend hundreds of billions bailing banks out bonuses should be banned and all that money should be spent recovering the banks.
Well said TB, its our FUCKIN money that they have used!
Bankers = paedophiles.
B(W)ANKERS ARE FUCKING SCUM; sack the lot of them and ship them all abroad. They are trying to hold the country to ransom like the trade unions do and we should not stand for it. I am not letting my money be wasted on paying these cunts bonuses. they don’t deserve. This Government won’t pay for me to go to university (which I plan on doing as a mature student in the future) but they will pay for millionaire bankers with big houses and flash cars to have bonuses. Yet Jack Cuntsdill praises Brown the Clown’s excellent handling of the economy. This Government is a joke, if anyone out there is planning to vote Labour you should be ashamed of yourselves.
TB you are starting to sound like me, lol, I am delighted.
God I hate these cunt bankers but I hate Labour even more.
I bet Labour bottle it!
Where is Adolf Hitler now, when we need him most to sort out these paedo-bankers?
The comparison to the unions is excellent and very apt!
I agree, trade unions just cry and stamp their feet until they get their way. It is because of unions people in manual jobs like tanker drivers are being paid excessive salaries. I mean £39k for driving a tanker, that is a joke when serving soldiers and nurses are earning half that amount for much higher skilled jobs. I am not saying people do those jobs for the money, I am a nurse and I do it because I love the job but I do feel entitled to a decent wage for a difficult and demanding job. Anyway the point I was getting to was; tanker drivers defend their huge salaries saying ‘You nurses and soldiers knew the salary when you signed up’, true as that may be my argument is so did you tanker drivers and other manual jobs but it doesn’t stop you holding the country to ransom when you want a payrise which we soldiers and nurses would never do.
Tanker drivers are arrogannt bullying bastards on the roads, i hate them all.
Hear hear, there was some loony on the news once during the tanker driver strikes banging on about how ‘tanker drivers are extremely highly skilled professionals’ no they’re not, they’re driving big cars (usually unsafely in my experience). I mean when a tanker has a spillage on a busy road its not the drivers that sort it out it is the fire service and chemical experts proper highly skilled people who ironically are probably earning half what the drivers are on.
Lol, not that its a bad thing though. That’s what I love about this site, you can make serious comments, you can have a rant or you can just lose it like I did on the last one and best of all no idiots can delete your comments. I’m with you totally I hate these banker scum but I hate Liebour more than anything.
I agree TB, when I get in power, places like Belsen will be heaving with MPS, celebs, immigrants, spongers,bankers etc…….
GAS THE CUNTS!
Zyclon B for labour 2010
rofl, bit harsh even for you
I hate them that much Phil, cheers for allowing these outrageous postings, its a form of relief, lol.
Perhaps a little too outrageous lately?
agreed, time to take some sedatives and show restraint, lol
Restraint? Where’s the fun in that?
lol, this is Phils site TB, I am sure even he has a limit of tolerance ,when he sees my obscene invective rantings, lol
I was only joking, but I am very grateful to Phil for allowing people to post on here. He posts some excellent topical articles and its a breath of fresh air to be able to comment without idiots deleting your comments.
Spot on there and hes razor sharp as well!
I don’t mind swearing provided it’s a constructive comment, for example;
“Gordon Marsden is a muppet and I hope he gets voted out” might well be true but doesn’t add anything, whereas, “Gordon Marsden is a muppet and I hope he gets voted out because he’s a disgrace to the democracy of the UK. His lack of interest in his constituency stinks of the ivory tower mentality of all MPs, particularly Labour ones, though you would have thought it be the opposite” adds something. lol.
True, a very a good description of Marsden as well.
lol spot on!