Defining Greed

incher

carolt wrote: »

I didn't hear loud shrieks - on here or anywhere else - at bankers' salaries when bankers were seen to be doing their jobs well and creating wealth for the economy

No, I didn't shriek loudly, nor complain on any internet forum, but anytime in the past that I ever read about huge bonuses paid out in the city, I have most definitely rolled my eyes and muttered under my breath about the unfairness of it all!

And I agree with the many posters who have said you can't equate a particular level of salary with greed. It all depends on how you earn that salary and whether you are acting within the law and not trampling on anyone else whilst doing so.

poppy10_2

Generali wrote: »

What an unhelpful post!

Income≠greed
Unless you decide your own income, that is.

moggylover

Had to come back to this one, having sat and watched four of the most insufferably greedy men in the Country repeat the word "sorry" on TV today, whilst still looking calm, well fed, immaculatly turned out and hardly touched by the devastation they have wrought! These men personify the word "greed", not by their salary but by their lack of integrity.

For me, having made such a monumental c*ck-up of a job that I was not only paid exceptionally well for doing, but given on the trust that I would be decent, conscientious and trustworthy whilst doing it, I would have been sitting there coming apart! I would have looked haggard from no sleep, and shrunken and ashamed, I would have had an ulcer that was giving obvious gip!

This lot were actually only saying "oops, sorry we got caught out" and had not the slightest real empathy with those they had damaged! If they really were sorry they would be handing back the fat salaries and bonuses from the last few years and trying to make amends, not getting paid a further 60k per month :eek: like that slimy Hornby toad, when he is only really putting right what he f**cked up in the first place! Pay him to do it? Not a chance, he should be doing it for free - and giving back the past ill gotten bonuses.

sdooley

Generali wrote: »

A good friend of mine made a net profit of over [FONT=verdana, arial]£180,000,000 for the insurance company he works for and will get a bonus of about [/FONT][FONT=verdana, arial]£1,000,000 or 0.55%. Is he greedy or successful?[/FONT]

Assuming your friend writes insurance policies, what actuarial assumptions are used to determine that 'profit'? Or is that net of actually underwriting the entire risk? And was it entirely his own work or are some others actually responsible too?

People who run billion-pound public sector budgets don't earn a million a year either...

luvpump

Generali wrote: »

We've had a lot of bemoaning of 'Greedy Bankers'. From what I can tell, many or most posters use the word 'greedy' when they really mean 'highly paid'.

So what level of pay is 'immoral' or greedy per household do you think?

What should be done (if anything) to prevent people earning above that threshold?

A good friend of mine made a net profit of over [FONT=verdana, arial]£180,000,000 for the insurance company he works for and will get a bonus of about [/FONT][FONT=verdana, arial]£1,000,000 or 0.55%. Is he greedy or successful?[/FONT]

Does this really need a poll ?? Its not so much a question of how MUCH someone earns but more have the EARNED it .. Bill Gates is one of the wealthiest men in the World, it was his company.. He took the risk with his money,his ideas ,at least at Microsofts inception..

The Issue people Have with Bankers is they have Gambled with other peoples money !! As it turns out OURS , They have taken the Rewards when it paid off & continued to pump the world Economy with Credit when anyone with a passing interest in finance could see it was irresponsible & unsustainable..

WHY ?? in order to get even bigger bonuses & they STILL seem to want the rewards when the gamble hasn't paid off !! ..Now its all gone up in flames they keep the money,walk away from the turmoil they have helped create & all we get is a "Sorry" ....Thats a "Greedy Banker" IMO ..

fc123

TBH, Anyone who earns 1 million+ is just dead lucky..............
Except, if I ever manage to earn that amount in a year, it was because I was immensely talented, honest, hardworking, took risk BUT analysed the downside prior, mangaged the moment fantastically, rewarded staff well who helped enable the project....and, my utter amazingness (sic?) was rewarded with a million £ (post tax profit BTW.)


Seriously, I know people who do pretty heavy jobs with masses of responsibility (I know someone who is a midwife for example) and will never, ever earn masses of £££.

Conrad...do you have communist sympathies? How can you cap earnings for everyone?


I also know some seriously wealthy people and they aren't much happier than anyone else really. OK, they have lovely skin and very nice living space etc but aren't really more contented than me.....whose skin texture is becoming a source of anxiety and whose living space is OK, but not quite in the location I would like it to be......yet.

lotto-dreamer

It's not so much greed - it's more how skewed our society has become when a disproportionate monetary value is put on a footballer or banker way over that of a heart surgeon or an engineer or inventor.

Cleaver

Generali wrote: »

We've had a lot of bemoaning of 'Greedy Bankers'. From what I can tell, many or most posters use the word 'greedy' when they really mean 'highly paid'.

So what level of pay is 'immoral' or greedy per household do you think?

What should be done (if anything) to prevent people earning above that threshold?

A good friend of mine made a net profit of over [FONT=verdana, arial]£180,000,000 for the insurance company he works for and will get a bonus of about [/FONT][FONT=verdana, arial]£1,000,000 or 0.55%. Is he greedy or successful?
[/FONT]

I think you're playing Devil's Advocate Mr Rali.

I didn't vote in the poll. I think 'greedy' is a personality trait rather than something that can be defined in figures and bonuses. You can earn £16k a year and still be a very greedy person, ergo you can earn £1 million and not be greedy.

To answer your specific question, I think your friend's bonus was appropriate for their performance. They will probably have known that if they had made nothing (or less than was asked) for their company they wouldn't have had a job to go to anymore. It's a risk game really.

As to whether you friend is greedy, I have no idea as I've never met him / her. (I'm playing Devil's Advocate now).

Cleaver

PasturesNew wrote: »

I can't click on the poll. I don't think it's about how much, it's about how good the heart was that earnt the money, how it was earnt.

How many small people were trampled on to get it.

I didn't read that before posting my reply. A very good point indeed.

Cleaver

mrstinchcombe wrote: »

BTL landlords

I'm a landlord and I'm not greedy.

Or are you just having a giraffe? If so, I'll join in. How do you define a bitter person? Someone who doesn't own a house.

I don't think that's true by the way, but I thought I'd have a go at being simplistic and generalistic as well.