RBS chief to get £900,000 bonus

oldvicar

Hester should resign, and sue for constructive dismissal.

He has ben bullied out of his bonus.

Graham_Devon

Glad to hear it.

Note that RBS at suggesting he fight. That would do even more damage!!

Thrugelmir

oldvicar wrote: »

Hester should resign, and sue for constructive dismissal.

He has ben bullied out of his bonus.

Shown to be the man he is. Said nothing while letting the media froth away.

Lets be honest if he turns round RBS. Then no one will care when he receives a bonus a few years down the line.

CLAPTON

it does leave the question

why would any successful businessman ever again work for the government?

maybe a good thing maybe not

yertiz_2

Interesting discussion on BBC News 24 atm ...

Mrs_Bones

What happens if he decides to walk away?

CLAPTON

Mrs_Bones wrote: »

What happens if he decides to walk away?

well he could be replaced by a career civil servant... they would find 2-300,000 very attractive

probably some-one that been to eton/harrow and then onto Oxford (PPE preferrably);
could be useful as he might be chums with Dave or George or Nick or ED or at least with their mates

Miss_Havisham

Mrs_Bones wrote: »

What happens if he decides to walk away?

We could be in trouble. Would anyone take on the job - would it be seen as a challenge or a poisoned challice ?

I think the ordinary "person in the street" under-estimates the importance of banks to our economy. If RBS should fail, so would all the companies that bank with or clear through them (e.g. Tesco, Virgin, Boots, JP Morgan Chase, HM the Queen (Coutts) etc etc).

Miss H

Derivative

Miss_Havisham wrote: »

I think the ordinary "person in the street" under-estimates the importance of banks to our economy

Even those in the loop underestimated the importance of banks to our economy prior to the crash.

Our entire economy is now so interdependent that the failure of only a few companies can send the whole thing tumbling down.

Think about a scenario in which the Big 4 supermarkets all collapsed tomorrow - improbable, sure, but not impossible. We'd have a huge problem on our hands given that many local stores have closed down now. Sixty million people would be clambering over each other to try and get food, all using the roads at the same time, etc.

We've built an economy based on leverage: debts work if they're not all called in at once, roads work if everyone doesn't drive at once, plumbing works if everyone doesn't flush the loo simultaneously.

The vast majority of the time everything works fine. The financial crisis was one of those moments when, actually, everything didn't work fine, and for a few tense weeks/months, we were in danger of the house of cards completely collapsing.

It's a wonder that the bailouts managed what they did - this recession is extremely tame compared to the alternative.

Going4TheDream

So he has not decided not to accept his bonus.

Whilst I thought it was a lot to offer as a bonus, especially when he hadn't met targets etc., it would seem his contract allowed for a bonus, I am just not not sure that 'trial by media' (which is what seems to have happened here) is the right way forward?