ChatterBank10 mins ago
An Advantage Of Brexit?
The EU limited the level of bankers bonuses to no more than twice their annual salary. There's talk of abolishing that limit.
As we sit considering our Winter fuel bills isn't it good to know the shackles imposed by an unelected foreign bureaucracy are being cast off.
As we sit considering our Winter fuel bills isn't it good to know the shackles imposed by an unelected foreign bureaucracy are being cast off.
Answers
> It is not the business of public authorities to interfere with what companies in the private sector do within their comp policy. Except when it follows those authorities royally bailing out those companies because they were "too big to fail", when the very reason they were in danger of failing was their executives chasing uncapped bonuses without...
12:51 Thu 15th Sep 2022
YMB // So would you apply that to anyone receiving a bonus or commission? If McVitties went belly all their salesmen should hand back their commission? //
Of course not, salesmen only affect revenue and the main issue in the financial crisis was debt.
// Or is it just the Bankers that you dont like, most likely because you dont understand how it works like others on this thread have clearly demonstrated. //
I have nothing against bankers but I know they are only human and incentives can make people focus on themselves more than their institutions - and unfortunately when some of those institutions fail it has far more impact than when the same happens to a biscuit factory.
Of course not, salesmen only affect revenue and the main issue in the financial crisis was debt.
// Or is it just the Bankers that you dont like, most likely because you dont understand how it works like others on this thread have clearly demonstrated. //
I have nothing against bankers but I know they are only human and incentives can make people focus on themselves more than their institutions - and unfortunately when some of those institutions fail it has far more impact than when the same happens to a biscuit factory.
‘ but I wasn’t wrong. The OP is about bonuses. ’
Indeed it was but as you well know, Naomi, threads develop. One of those developments was Fatti, Tora and myself talking about whether workers pay should increase if bonuses did.
Where you went wrong was jumping in like a spoilt child and trying to tell me I was going off topic. You do it quite often and it’s rather tiresome.
Indeed it was but as you well know, Naomi, threads develop. One of those developments was Fatti, Tora and myself talking about whether workers pay should increase if bonuses did.
Where you went wrong was jumping in like a spoilt child and trying to tell me I was going off topic. You do it quite often and it’s rather tiresome.
ellipsis://"Whoosh" went the point, as it flew over Tora's head.//
Whoosh the correction of the point as it flew over Ellipsis head.
//TTT, these bankers already get bonuses, on top of their salaries. // - yes agreed
//Let's just recap my post of 13:51 yesterday:// - yes lets....
//1) when they had uncapped bonuses, they engineered the financial crash and we poor plebs had to bail them out// - no they did not, the crash was caused as explained at 21:49 on Thursday, you seem to have ignored that inconvenient fact.
//2) Kwarteng has a lot to contend with so it's VERY odd that uncapping bonuses that have been capped for eight years is top of his list - it smacks of corruption, much like the energy firms not being dinged with a windfall tax ... we plebs pay again!// - that was explained at 09:20 yesterday, again you seem to have ignored it, presumably because it does not fit with your spurious view.
//3) assuming we do go back to uncapped bonuses, rather than the terribly restrictive mere 2X a huge salary that we have now, what is being done exactly to prevent a repeat of the financial crash ... or will the plebs not have to bail anybody out next time?// - there are many new regulations in the SEC and the UK equivalent. A repeat is almost impossible. The financial crash was not caused by bankers seeking larger bonuses. Bonuses are bit given as a percentage of productivity anyway. The bonus pot is dependent on many factors most of which the lay person has no idea about. I work in a bank I know, what is your experience beyond envious ranting?
//Heads the bankers win, tails the plebs lose, and Kwarteng's the one tossing the coin ... // - get that 4x2 off your shoulder.
Whoosh the correction of the point as it flew over Ellipsis head.
//TTT, these bankers already get bonuses, on top of their salaries. // - yes agreed
//Let's just recap my post of 13:51 yesterday:// - yes lets....
//1) when they had uncapped bonuses, they engineered the financial crash and we poor plebs had to bail them out// - no they did not, the crash was caused as explained at 21:49 on Thursday, you seem to have ignored that inconvenient fact.
//2) Kwarteng has a lot to contend with so it's VERY odd that uncapping bonuses that have been capped for eight years is top of his list - it smacks of corruption, much like the energy firms not being dinged with a windfall tax ... we plebs pay again!// - that was explained at 09:20 yesterday, again you seem to have ignored it, presumably because it does not fit with your spurious view.
//3) assuming we do go back to uncapped bonuses, rather than the terribly restrictive mere 2X a huge salary that we have now, what is being done exactly to prevent a repeat of the financial crash ... or will the plebs not have to bail anybody out next time?// - there are many new regulations in the SEC and the UK equivalent. A repeat is almost impossible. The financial crash was not caused by bankers seeking larger bonuses. Bonuses are bit given as a percentage of productivity anyway. The bonus pot is dependent on many factors most of which the lay person has no idea about. I work in a bank I know, what is your experience beyond envious ranting?
//Heads the bankers win, tails the plebs lose, and Kwarteng's the one tossing the coin ... // - get that 4x2 off your shoulder.
Naomi24 didn’t answer the questions as usual, but here’s another to ponder about why ordinary rank and file staff are looking to take action.
https:/
Just another example of increasing greed in austere times.
https:/
Just another example of increasing greed in austere times.
In TTT’s post (10:28) he claims to work in a bank; and within this thread that the required bail-outs paid to our banks was the result of the US subprime mortgage situation.
The FCA’s report into to the HBOS near collapse in 2008 makes it clear that this had minimal effect on HBOS’s very poor investment strategy. That near collapse cost the UK tax payer around £17 Billion and the whole UK baking sector around £37 Billion.
Let’s hope TTT works as a teller within the bank, and not in some management position.
The FCA’s report into to the HBOS near collapse in 2008 makes it clear that this had minimal effect on HBOS’s very poor investment strategy. That near collapse cost the UK tax payer around £17 Billion and the whole UK baking sector around £37 Billion.
Let’s hope TTT works as a teller within the bank, and not in some management position.
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