Should bankers repay bonuses?

carolt

Very interesting debate from Peston. Worth reading figures in first comment too, shocking:

http://www.bbc.co.uk/blogs/thereporters/robertpeston/2009/02/should_bankers_repay_bonuses.html#commentsanchor

To save you reading the article, the gist of it is they should, and shouldn't get a penny more in bonuses.

PasturesNew

Bit tricky getting money back off people. They've spent it on Bolly and cheap tarts.

thriftybabe

The working man at the present time is funding the bankers. They should not get any bonuses when there are some people fighting for survival in the present climate. Disgusted that they should have got anything at all. They should definitely pay it back.

Generali

PasturesNew wrote: »

Bit tricky getting money back off people. They've spent it on Bolly and cheap tarts.

Sheesh. Don't say that to Mrs Generali!!!

I spent it on cheap Bolly and tarts, much more MSE!

Dylanwing

Yes
Well they - No
Should they be jailed for false accounting - Yes
Will they - No
Should they be given jobs as Government Advisors - No
Will they - Yes

purch

Should bankers repay bonuses?

If it's written into their contracts that they should, then yes.

If not, then no.

People who do a cr*p job are not asked to repay their salary and other contractual renumerations.

To follow this to it's illogical conclusion then you should also ask the Idiot to repay his salary and other perks, cos he's doing/done a cr*p job as PM !!!!

purch

They've spent it on Bolly and cheap tarts

My wife would be really offended by that :eek: .....but as she's walking about in the deep snow in the garden in 5" stilleto's and a mini skirt, she won't be able to read it

JonnyBravo

purch wrote: »

My wife would be really offended by that :eek: .....but as she's walking about in the deep snow in the garden in 5" stilleto's and a mini skirt, she won't be able to read it

She can read????

louiser123

i say they should pay it back, they shouldnt have had it to start with.

i was always under the impression (correct me if im wrong) bonuses and increases in salary were infact given to those employees who had done a good job that year!!!

what happened here then .

PasturesNew

Bonuses should be paid out on good business done, profits obtained.

The trade they did was neither good business done, nor profits obtained.

That's where the contract was in error. They were paid money for fraudlent and ill-advised lending, when profits weren't being made, just turnover.

mewbie_2

Although bankers are the new hate figures I am not too sure they are at fault for the crisis. After all a few months ago it was short sellers who were the new scum of the earth. The origin of our current crisis was the opening up of mortgages to people who perhaps should never have had mortgages. I don't think it was each and every banker in the world who made that decision, I believe it was more of a political decision. And perhaps even then the essence of it is people borrowing money they couldn't afford to pay back, or people lending them money they couldn't afford to pay back. So quite a range to put the blame on.

There's never really a good hate figure when you need one is there.