ÂĢ8 million bonus
Good god...
"time for remorse is over"
Easy for him to say.
Good god..."time for remorse is over"
Easy for him to say.
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Another election pledge broken
Has Cameron said anything yet? He has been very vocal telling us mere mortals that times are going to be hard 
The Liberal Democrats will ensure that the bonus system can never again encourage banks to behave in the way that led to the banking crisis. Ultimately our plans to break up the banks and make a more competitive banking industry will bring an end to the excess profits of the investment banking system and with it the massive bonus payouts. However, the Liberal Democrats also have a five point plan to tackle bankersâ bonuses quickly. This is:
1. No cash bonuses â We will require all bonuses in excess of ÂĢ2,500 to be paid in shares. These shares will only be redeemable after five years; it will be written into the right of entitlement of these shares that they will revert to the company if they are pledged or used as security prior to the date of their redemption.
2. No bonuses at board level â We will ensure there are no bonuses at the board level of banks. This is not to say that board directors should not be well paid, but that they should have the long term interests of a company at heart - bonus payments do not encourage this.
3. No rewards for failure â We will extend the Financial Services Act to ensure that no regulated institution which has made a loss can pay discretionary bonuses.
4. Total transparency â We will require the publication of the names of all bank staff that have salaries and bonuses that are greater than the Prime Minsterâs salary (which is just under ÂĢ200,000). In addition we will require the FSA to publish its assessment of all regulated firms remuneration policy.
5. Holding directors to account â We will extend the powers of the FSA to ensure that the directors of banks are personally fined if their institution breaks the current code of practice for remuneration.
2. No bonuses at board level â We will ensure there are no bonuses at the board level of banks. This is not to say that board directors should not be well paid, but that they should have the long term interests of a company at heart - bonus payments do not encourage this.
3. No rewards for failure â We will extend the Financial Services Act to ensure that no regulated institution which has made a loss can pay discretionary bonuses.
4. Total transparency â We will require the publication of the names of all bank staff that have salaries and bonuses that are greater than the Prime Minsterâs salary (which is just under ÂĢ200,000). In addition we will require the FSA to publish its assessment of all regulated firms remuneration policy.
5. Holding directors to account â We will extend the powers of the FSA to ensure that the directors of banks are personally fined if their institution breaks the current code of practice for remuneration.
If it wasnt so pathetic erin i could laugh, but ........................
Reference:
Has Cameron said anything yet? He has been very vocal telling us mere mortals that times are going to be hard
http://www.bbc.co.uk/news/uk-politics-12159898
They've lied from day one Skylark, they're not going to change now
I shouldnt be shocked but they have no shame ,they dont give a sh*t.
Aaaaand another deluded prick. Must be the day for 'em.
Reference:
I shouldnt be shocked but they have no shame ,they dont give a sh*t.
I concur Erin
No Dame, i fear they arent. No lessons learnt from Maggies days it seems.....
Reference:
3. No rewards for failure â We will extend the Financial Services Act to ensure that no regulated institution which has made a loss can pay discretionary bonuses.
Awww ain't ya heart just bleeding for the poor mites. Fecks sake, if you are a failure in ANY job bar banking you don't get rewards. You get sacked.
Reference:
5. Holding directors to account â We will extend the powers of the FSA to ensure that the directors of banks are personally fined if their institution breaks the current code of practice for remuneration.
And so they should be.
My God they really have been living on planet Cristal and cocaine. Still, it can be the smallest of pricks that can burst the biggest of bubbles. Well done Clegg. (A bit)
Reference:
No lessons learnt from Maggies days it seems.....
None whatsoever Skylark
Why do bankers get away with so much.
Why do they appear to be above the law and normal acceptable behaviour.
One common reason often put forward is that this country needs the banking business.
"The city" is vital to our economy and our success as a world-wide hub of the financial world, they tell us.
They say we don't want our best financial people to move out of this country.
I loathe and detest the way that bankers appear to have a blackmail type of hold over us.
I'm with Polly Toynbee on this - if they keep saying they will leave, then just wish them "bye-bye".
No-one is indispensible.
Why do they appear to be above the law and normal acceptable behaviour.
One common reason often put forward is that this country needs the banking business.
"The city" is vital to our economy and our success as a world-wide hub of the financial world, they tell us.
They say we don't want our best financial people to move out of this country.
I loathe and detest the way that bankers appear to have a blackmail type of hold over us.
I'm with Polly Toynbee on this - if they keep saying they will leave, then just wish them "bye-bye".
No-one is indispensible.
Cameron stated 20% vat is here to stay but the 50% tax rate will be going down to help the "poor" rich folk.
Reference:
I'm with Polly Toynbee on this - if they keep saying they will leave, then just wish them "bye-bye".
That's the way I feel too Brisket. There's plenty more to take their place (I'm guessing) and not all will take the country for a ride 
Let them go, restructure financial renumeration and find people who are more capable and interested in doing a good job rather than lining their own pockest.
And they wonder why Lib Dem and Tory support is so low.
Reference: brisket
"The city" is vital to our economy and our success as a world-wide hub of the financial world
I used to be a bank clerk and I really looked forward to my bonus.
A small percentage of a small salary.
These people have no shame and no intellect.
As for the government, they have no teeth and no balls or ovaries.
A small percentage of a small salary.
These people have no shame and no intellect.
As for the government, they have no teeth and no balls or ovaries.
They don't want the talented people to leave the country, yet they are quite happy for them to shovel all their cash to off shore tax havens.
So true, Joe.
Poor Mr Diamond had no idea about all these subsidiary companies!
I could give them the names of quite a few school leavers, who would be capable of packaging up some sub-prime mortgage debts and selling them off. No probs.
Poor Mr Diamond had no idea about all these subsidiary companies!
I could give them the names of quite a few school leavers, who would be capable of packaging up some sub-prime mortgage debts and selling them off. No probs.