I am appalled that after almost ruining the Country with their greed and incompetence, we now find out that they are going to reward themselves for the biggest failure in modern times. It appears that the Royal Bank of Scotland (which is 68% Government owned and propped up by £20b by the taxpayer) is going to pay staff a total of £1b in bonuses.

 

What is the Governments response, we don’t think they should at this time. “WOW” That will make them think again.

 

Seriously how can they justify this? Most employees never receive a bonus, regardless how well they do their job, what makes the banks so special that they have to get a bonus to do their jobs? It’s not as if it’s the hardest or dirtiest job to do now is it. In these very tough times when people are losing their jobs and firms are closing down, isn’t it ironic that the very people who caused it all are now rewarding themselves for a job well done. A bit like Nero fiddling away while Rome burns.

 

These are some of the salaries paid out the the chiefs/former chiefs of these banks:

 

Lawrence Fish Non-executive chairman, Royal Bank of Scotland

 

One of Britain's best-paid directors despite being rarely seen at the bank's headquarters, Mr Fish received £6.6m in salary, benefits and bonuses in 2006 and leaves the crippled bank in April with a pension worth more than £1m.

 

Sir Fred Goodwin 50, former chief executive of RBS

 

Paid £4.2m in 2007, including a £2.86m bonus. During his nine years in the top job, Sir Fred led 26 takeovers and earned £30m. Although he waived a £1.2m payoff, he still has a pension pot worth an extra £8.37m.

 

Peter Cummings Former head of corporate lending at HBOS

 

By 2007 was earning £2.6m, including a £1.8m bonus. As the head of corporate lending, he was in charge of a loan book worth £109bn. The 52-year-old took early retirement last month.

 

John Varley Group chief executive of Barclays

 

Rejected a government bailout in favour of a £7bn cash injection from the royals in Qatar and Abu Dhabi but is facing criticism as share prices continue to nosedive. Mr Varley was paid £2.42m in 2007 and a bonus of £1.425m.

 

Bob Diamond Outgoing chief executive of Barclays Capital Investment Bank

 

The investment bank saw explosive growth until it took huge hits recently from the US sub-prime mortgage crisis. In 2007 his bonus fell from £10.425m to a relatively miserly £6.5m. He has pocketed £21.3m in bonuses since 2005.

 

Michael Geoghegan 50, chief executive of HSBC

 

Took on the top job in March 2006 and is known as a 'banker's banker' who worked his way up on the unglamorous retail side. Criticised for being conservative, HSBC is now seen as prudent. He received £2.955m in 2007 and a £1.915m bonus.

 

Most other Countries are not allowing bonuses or restricting them in someway, but not in the UK.

 

I think if your bank pays huge bonuses you should complain and threaten to take your money away from them. But I suppose if they all pay bonuses then where would you transfer it. Utter bast*rds.

What is the Governments response, we don’t think they should at this time. “WOW” That will make them think again.

 

TBH, I'm surprised the Govt has said anything at all.... A couple of weeks back, Darling was saying about the Northern Rock think that it was a "matter for Northern Rock".... <_< Oh, mind you, now that President Obama has pretty much launched a scathing attack on US banks and their bonuses, it's okay for Gordy and Darling to "talk tough" innit....?

 

RBS, like Northern Rock, has a fukkin' nerve to even talk about giving out bonuses, WE (the taxpayer) own 68% of that bank, WE'RE the majority shareholder, and isn't it the case that whoever the majority shareholder is, they are the ones who determine what bonuses get paid out.... Ooooooh, let's put it to a vote shall we....? How many ordinary, working p people out there who've been royally fukked over by the greed of the banks is gonna vote FOR the fat cat bank bosses getting bonuses.....? Gee, er, not many...... :rolleyes:

 

The biggest difficulty is that the bankers will argue that they were entitled to bonuses under the terms of their contract. The government's best hope is that these contracts can be ruled null and void now that their ownership has changed. There's no point in waiting for the bankers to give up their bonuses voluntarily on moral grounds. These people have no morals.

The biggest difficulty is that the bankers will argue that they were entitled to bonuses under the terms of their contract. The government's best hope is that these contracts can be ruled null and void now that their ownership has changed. There's no point in waiting for the bankers to give up their bonuses voluntarily on moral grounds. These people have no morals.

 

This is the whole problem within the culture of banking... They seem to believe that they have some "divine" right to these bonuses..... Bollocks they do.... I really do think it's about time Broon and Darling stopped messing around and hammered these people into the ground... At the end of the day, Northern Rock and RBS are working for US seeing as how they've had billions out of our pockets.... <_<

 

B'astards..... <_<

I think Barclay's can give out bonus's after all they made £6.1billion and have yet to take a single penny from the UK taxpayer.

 

HBOS-Lloyds, RBS and Northern Rock shouldn't even contemplate it.

 

With the amount of cash the already skint tax payers have given the banks they should be giving credit to business and people to try to get the economy moving again, not giving it away in bonuses or wasting it on fancy parties.

 

No wonder Zavvi, Woolies and many others have gone under.

 

Thousands of people have lost their jobs so a couple of bankers can get a overinflated bonus to add to their outrageous salary. :rolleyes:

TBH, I'm surprised the Govt has said anything at all.... A couple of weeks back, Darling was saying about the Northern Rock think that it was a "matter for Northern Rock".... <_< Oh, mind you, now that President Obama has pretty much launched a scathing attack on US banks and their bonuses, it's okay for Gordy and Darling to "talk tough" innit....?

 

RBS, like Northern Rock, has a fukkin' nerve to even talk about giving out bonuses, WE (the taxpayer) own 68% of that bank, WE'RE the majority shareholder, and isn't it the case that whoever the majority shareholder is, they are the ones who determine what bonuses get paid out.... Ooooooh, let's put it to a vote shall we....? How many ordinary, working p people out there who've been royally fukked over by the greed of the banks is gonna vote FOR the fat cat bank bosses getting bonuses.....? Gee, er, not many...... :rolleyes:

 

And that's *exactly* why they won't put it to their shareholders (i.e. you and me).

:manson: How can any bank who were bailed out by the government use tax payers money to distribute bonuses! We're talking about a £1b here!!! £1b is a good opportunity to help any struggling businesses, borrowing customers etc in debt. It's an utter disgrace. Normally bonuses are given out to their staff if they meet their business targets and I extremely doubt that HBOS met any targets. Also what gets me is that banks would rather make their staff redundant claiming that this will "save costs" have the cheek thinking they are entitled to bonuses.

 

Just shows all bank executives are greedy greedy pigs!

The former HBOS head has resigned as deputy chairman of the FSA today - basically before he gets pushed for dismissing a collleague on the grounds that he was calling his terrible practices to account.

 

Unsurprisingly he was knighted by the present Government in 2006. I think these honours are almost as despicable as the huge payouts they give themselves. So many of these f***ers have been knighted or given peerages for "services to finance" when all they've done is lined their pockets despite being fully warned of the consequences. Obviously the Government would never strip them of these titles - that would make them look stupid. Besides, they're all mates with each other.

I think Barclay's can give out bonus's after all they made £6.1billion and have yet to take a single penny from the UK taxpayer.

 

Fair enough... I'll give them a free pass.... Problem is, Barclays tend to treat customers like sh"t and are one of the most notorious with their charges..... :rolleyes:

 

they probably made most of that money through their ridiculous charging system..... -_-

The former HBOS head has resigned as deputy chairman of the FSA today - basically before he gets pushed for dismissing a collleague on the grounds that he was calling his terrible practices to account.

 

Unsurprisingly he was knighted by the present Government in 2006. I think these honours are almost as despicable as the huge payouts they give themselves. So many of these f***ers have been knighted or given peerages for "services to finance" when all they've done is lined their pockets despite being fully warned of the consequences. Obviously the Government would never strip them of these titles - that would make them look stupid. Besides, they're all mates with each other.

 

Yep, it's the "old boys" network innit.....? You ask me, it's this that's fukked up this country more than anything... It's never gonna change until someone has the guts to actually step up and smash it to pieces.....

 

I work for a bank. I got a £200 bonus. HANG ME FROM A f***ING TREE.

 

*cough* Sorry. It just pisses me off that people think of the few dozen big city bankers that have been responsible for the collapse of the economy, and never of the little guys who work on phones (like me) or on the counters (not me) and pick up their $h!t. I know of someone who got a £19 bonus. Nine. Teen. Quid.

I work for a bank. I got a £200 bonus. HANG ME FROM A f***ING TREE.

 

*cough* Sorry. It just pisses me off that people think of the few dozen big city bankers that have been responsible for the collapse of the economy, and never of the little guys who work on phones (like me) or on the counters (not me) and pick up their $h!t. I know of someone who got a £19 bonus. Nine. Teen. Quid.

 

You miss the point. Most employees never get a bonus, regardless of how well they perform. I have never had a bonus in the Companies I have worked for, as they did not pay any even although the they were profitable, not even to the directors. It is the culture of bonuses which has led to the banks getting into the mess they are in now. They should be outlawed immediately, and last years should be handed back or taxed at 100%.

 

So good luck to you for getting £200.

Somehow I feel like I'm in an alternative universe.

 

The Conservatives are saying there should not be any bonuses for senior staff, and Labour are saying there should be, or by not stopping them they are signalling it's ok.

 

Unbelievable. Never thought I would agree with the tories.

Somehow I feel like I'm in an alternative universe.

 

The Conservatives are saying there should not be any bonuses for senior staff, and Labour are saying there should be, or by not stopping them they are signalling it's ok.

 

Unbelievable. Never thought I would agree with the tories.

 

The damage has been done to the reputation of bankers though and it will take a generation or more to repair their image

 

Even 2 or 3 years ago bankers could proudly admit in dinner parties or whatever that they were bankers but such is the standing in the community of bankers now it is like admitting to being a rapist or convicted paedophile such is the contempt that bankers are held in the community and in the country now

FSA chairman Lord Turner: we got it wrong but we'll keep our bonuses

 

The head of the Financial Services Authority today admitted that Gordon Brown's City watchdog had failed for ten years to recognise the risky way in which the banking system was developing.

 

The FSA, which was created by Mr Brown as Chancellor in 1997 when he took responsibility for overseeing banks away from the Bank of England, has come in for widespread criticism for its failure to spot the crisis at Northern Rock, or to predict and prevent the current financial meltdown.

 

Today Lord Turner of Ecchinswell, who became FSA chair in September 2008, admitted that some of the brickbats were deserved - and hinted that politicians too should share some of the blame.

 

But despite the admission of guilt, Lord Turner said that staff at the FSA would still be paid an estimated £33 million in annual bonuses. :angry:

 

Full story here : http://business.timesonline.co.uk/tol/busi...icle5738444.ece

In my opinion FSA stands for f***ing Stupid Arseholes

In my opinion FSA stands for f***ing Stupid Arseholes[/b]

 

That's certainly not just your opinion mate.... The FSA has made a catalogue of errors in this affair, and AGAIN, it is another disgusting example of an institution paying out bonuses for failure... I am getting heartily fukkin' sick of this complete cr@p......