| conservative government sues the EU over bankers bonuses 19:26 - May 22 with 4298 views | libertine |
What this all about?
the EU have limited bankers bonuses
tories want to sue them to remove the limit
they truly are the party of the rich | | | |  |
| conservative government sues the EU over bankers bonuses on 21:05 - May 22 with 4268 views | Highjack |
Sauce? | |
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| conservative government sues the EU over bankers bonuses on 21:27 - May 22 with 4254 views | jackonicko |
Is this something recent?
Osbourne withdrew the legal challenge to this last year. Didn't think it would come back and hadn't seen anything in the last few days to suggest otherwise? | | | |
| conservative government sues the EU over bankers bonuses on 21:30 - May 22 with 4241 views | Joe_bradshaw |
It's about trying to maintain London as the most important financial centre in Europe.
It was dropped last November. | |
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| conservative government sues the EU over bankers bonuses on 21:38 - May 22 with 4229 views | PozuelosSideys |
This is old news.
But the regulation put in place to limit these bonuses are counterproductive and counter-intuitive. Some would say just fcking stupid.
The rules were either set up in a rush, not properly thought through, or written by somebody who didnt have a clue what they were on about. | |
| "Michu, Britton and Williams could have won 3-0 on their own. They wouldn't have required a keeper." | | Poll: | Hattricks |
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| conservative government sues the EU over bankers bonuses on 11:58 - May 23 with 4151 views | Nookiejack |
No problem about paying bankers bonuses when these banks actually make money. What was shocking was when RBS and the like were staying paying bonuses when they had all gone bust. The justification that was made that we needed these people to get us out of the mess they had created. Doesn't add up.
There should also be clawback mechanisms so that if the Banks make high profits in year 1 with respect to reckless lending and fixing LIBOR and the currency markets - resulting in high bonuses - but then bank makes future losses or receive significant regulatory fines - then these bonuses should be called back.
A Fred Goodwin should never be allowed to walk away with an extraordinary gold plated pension in the future - given the mess and destruction he caused.
Those also involved in fixing the LIBOR and Currency markets should also be criminally prosecuted. How come you get prosecuted for £80 benefit fraud but no one has been prosecuted for fixing these markets for enormous amounts of money. | | | |
| conservative government sues the EU over bankers bonuses on 12:01 - May 23 with 4143 views | trampie |
Yip.  | |
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| conservative government sues the EU over bankers bonuses on 12:22 - May 23 with 4124 views | Nookiejack |
PS - the Retail divisions of banks should definitely be broken up from the Investment Banking (Casinos) divisions of existing banks.
If the Investment Banks want to gamble in their casinos - they should go back to old partnership ownnership models - whereby they are gambling with their own capital. So if they lose - they lose their own money.
They should not be allowed to gamble with our deposits - given to the Retail arms of their banks.
The whole current model stinks whereby you have two Investment Banks gambling against each other - one bank wins the other loses (i.e. a zero sum game) - however bonuses are then paid to the traders of the bank that wins.
No wealth has been created just money has left the system - via the traders bonuses
Whereby what is supposed to be happening is that Banks should be allocating capital efficiently - what that means is that our deposits are supposed to be being used to support businesses investment - in long term infrastructure, technology and plant and machinery. i.e. Creating long term sustainable wealth.
....not being siphoned off in Traders casino bonuses!!!! | | | |
| conservative government sues the EU over bankers bonuses on 12:35 - May 23 with 4115 views | PozuelosSideys |
Think the argument about RBS continuing to pay variable (albeit at a much reduced rate) is that they had got rid of a number of people and they have to pay the market rate to bring somebody in to do the job who was any good. If you were earning decent coin at another bank and was getting paid bonuses, why would you leave there to go to RBS? The bank would not have been able to bring in anyone of note and it would have sunk even further.
There are clawbacks, and there is malus. It gets used and used alot. At the moment it sits at around four years, word is that will be extended up to about 8 years. Anyone earning (depending on business) around £20k bonus and upwards will defer and therefore be subject to the clawback mechanisms put in place.
Agree about teh criminal prosecutions bit, but the industry is generally dirty. A business can only put so many controls in place. These ones put in by the regulators are counterproductive as i mentioned above. Whereas before a business can control an employee through their bonus, the employee is now guaranteed an increased fixed pay level (with lower bonus opportunity) just for turning up to work. The idea being that lower bonus = less risk taking. All its done is guarantee fat salaries and the employee still taking risk to get a smaller bonus. Its win win for the employee, fcking nightmare for the business. | |
| "Michu, Britton and Williams could have won 3-0 on their own. They wouldn't have required a keeper." | | Poll: | Hattricks |
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| conservative government sues the EU over bankers bonuses on 15:08 - May 23 with 4081 views | libertine |
what about that guy Nick something who was gambling with the banks money in Singapore
he got done for it
so what the difference
a bank only needs to have 10% of what it loans out to be legal,
but what if the bank lends the 90% to another bank
and the cycle perpetuates itself
what i'm trying to say is the money doesn't actually exist its only bank transfer just numbers in a computer.
the urban myth that you can take your money to the mint and get gold for it is obviously not true | | | |
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