RBS Boss Bonus: Rich Getting Richer

[Philtaz]

http://www.bbc.co.uk/news/business-16751691

As this institution is 83% owned by us how can it be that a virtual government employee get almost a million pounds as a bonus? Bankers got us into this mess and still got huge bonuses and knighthoods whilst doing so, so why are they being rewarded further?

Yes there's been a turnaround at RBS but ordinary employees have been made redundant and the bank is still in debt. But as one former member of the government pointed out the RBS boss hasn't leant out as much as promised to small businesses as part of the 'save-ass' deal, so why is he being rewarded for failure to achieve objectives?

[Philtaz]

I doubt it rov, I daresay there are mechanisms in place that will see that he gets full remuneration. I mean, a banker is going to ensure that he doesn't get 'done down' as such, isn't he?

I'm sure he'll somehow get the current value of them, which seems to be £963,000 or thereabouts.

[barney15c]

nice idea rov, however a steadly plunging share price also means longer for the tax payer to recoup (if at all) the money we stumped up to save the bank. Will he get the same bonus deal for the rest of his tenure is what needs to be asked and if he is then needs to be addressed immediately. The bottom line is he shouldnt be paid a bonus for what essentially doing his day to day job.