Banker's exodus possible - does anyone care?

abaxas

[QUOTE=HAMISH_MCTAVISH;27774493

Words cannot describe the contempt I feel for such ignorant, populist, claptrap.:rolleyes:[/QUOTE]

That's what happens in a democracy. The view of the largest social group is policy.

Howcome you can be so ignorant of that? You have finally lost your mind!

abaxas

Afriend wrote: »

Did the largest social group want MPs to fiddle their expenses?

edit: or for the country to invade Iraq?

Most people have no idea about MP's expenses. Policy is now different

Who knows about iraq. People voted them in agian :P

ThrowingStonesAtYou

abaxas wrote: »

That's what happens in a democracy. The view of the largest social group is policy.

Howcome you can be so ignorant of that? You have finally lost your mind!

While I disagree with the majority of what Hamish says, what he said is spot on.

And just because the majority subscribe to a certain view, doesn't mean it isn't populist, ignorant, claptrap.

tomstickland

carolt wrote: »

Am I the only person to feel 'Oh good, I'll be glad to see the back of the greedy, incompetent barstewards', when I read articles like this?

http://www.ft.com/cms/s/0/9c7d6520-e37e-11de-8d36-00144feab49a.html

Sadly moves like this:

http://www.guardian.co.uk/business/2009/dec/10/brown-and-sarkozy-tax-bankers

make it less likely they'll have anywhere more lucrative to bog off to.

Whoever's left will have more tax to pay. Considering that financial services were a prime source of income for the government then that's not so clever.

MissMoneypenny

abaxas wrote: »

So you beleive that business that have gone bust should pay bonuses after the event?

Traders that work for banks like RBS should not get a bonus as they are rubbish at their jobs. Not even sure why Gordon bailed that bank out, unless it was the word "scotland" that he wanted to protect. Their shares went lower than B&Bs!

Banks who have not had tax payers money, should pay their traders their bonus with no extra tax, as they bring a lot of money into the country and we need to keep the good traders. The good traders will go to the country that pays them the most and the country can't afford to lose them.

I despair how Gordon and his motely crew, launch from one bad idea to another. How much more damage can he do before the election?

ThrowingStonesAtYou

MissMoneypenny wrote: »

Traders that work for banks like RBS should not get a bonus as they are rubbish at their jobs. Not even sure why Gordon bailed that bank out, unless it was the word "scotland" that he wanted to protect. Their shares went lower than B&Bs!

The traders were only meeting the objectives set to them by their employers, which they did to earn their bonuses - how are they rubbish if they successfully did what they were employed for

Severely reducing bonuses now that we know we need to set objectives measured on long-term sustainability will just mean the best traders will apply their skills elsewhere and the rubbish ones will stay and we will never get the bail out money back :think:

Masomnia

MissMoneypenny wrote: »

Traders that work for banks like RBS should not get a bonus as they are rubbish at their jobs.

The investment banking bit is expected to make £6 billion in profit this year. The group as a whole will probably make a loss because of the retail side.

MissMoneypenny

ThrowingStonesAtYou wrote: »

The traders were only meeting the objectives set to them by their employers, which they did to earn their bonuses - how are they rubbish if they successfully did what they were employed for

Severely reducing bonuses now that we know we need to set objectives measured on long-term sustainability will just mean the best traders will apply their skills elsewhere and the rubbish ones will stay and we will never get the bail out money back :think:

I use to be a trader (pre big bang) and we worked to make a profit, and then take a cut of that profit as our bonus. Rewarding bad traders is not a good idea. Apart from anything else, it pi$$es off the good traders. Traders should receive a cut of their profits and not get a bonus regardless. Rewarding the good traders is the way to keep them.

ThrowingStonesAtYou

MissMoneypenny wrote: »

I use to be a trader (pre big bang) and we worked to make a profit, and then take a cut of that profit as our bonus. Rewarding bad traders is not a good idea. Apart from anything else, it pi$$es off the good traders. Traders should receive a cut of their profits and not get a bonus regardless. Rewarding the good traders is the way to keep them.

I thought the bonus was a cut of the profit? Are you saying traders who make no profit still get a bonus?

kmmr

Masomnia wrote: »

The investment banking bit is expected to make £6 billion in profit this year. The group as a whole will probably make a loss because of the retail side.

That's also a good point. RBS is a huge organization, and some areas will be making a lot of money, and the worst areas are costing the rest of the profit!

Anyway, the vast vast majority of banks and bankers/traders do NOT work for RBS or HBOS. They work for any one of the 700 or so banks in the UK, pumping huge amounts of tax and money into the economy. And all are penalised by these silly populist rule changes.

As someone said before, they also supported numerous shops, using that evil bonus money. Presumably all those who benefited from the bonus all down the chain now also get hit with 50% tax?