We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Poor Hester...
Comments
-
Thrugelmir wrote: »Isn't that why we've ended up in a mess?
Bank balance sheets became so complex that no one understands what they contain. The BOE, FSA and US Treasury included. So may require a good steward to unwind them.
Hester has unwound around £700 billion of assets so far. Given there's not been sizable losses. A fair feat in my mind.
The question is has Hester actually unwound it?
He may have given the direction.
On the basis that the direction is no longer working out the most contrived way of making money, at any cost and not being left with the hot potato, is it so surprising he has enabled this to happen?"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Thrugelmir wrote: »Isn't that why we've ended up in a mess?
Bank balance sheets became so complex that no one understands what they contain. The BOE, FSA and US Treasury included. So may require a good steward to unwind them.
Hester has unwound around £700 billion of assets so far. Given there's not been sizable losses. A fair feat in my mind.
I think it very unlikely that the situation is particularly complex (with the benefit of hindsight which we all have now).
He is simply selling off that which can be sold at the best price he can; there is no particular pressure because he can't go bankrupt because he has a government guarentee.0 -
Lots of morons (not aiming at OP) who love to moan about what bankers earn at the moment & don't even attempt to differenciate between those who contributed to the mess & those who may help get us out of it. Utter bigotry but as we know, bigotry is fine as long as it's bankers you're prejudiced against.
One of the things that gripes me, with Hester and other of his same standing is how everything that goes wrong, is the fault of someone else, yet everything that goes right....yes, you guessed it, is as a direct result of them being at the top.
How does this work? Libor, miss-selling, IT problems.....they didn't know anything about it. It was someone else running that department. But if a bank does well, regardless of what it was, the person running the department is long forgotten...it's the person at the top who claims it was their doing.
The thing with hester is that, whether right or wrong, he stated to the public who were angry about the computer systems that he would forgo his bonus. Now, what do we have? A list of stuff "he's done" and why he is "entitled" and a list of problems, fines, scandals that were nothing to do with him.
His statement over the computer glitch was mearly an appeasement to the public. He now seems to be going the other way, trying to appease himself to the public by saying all the problems are because of someone else and all the good stuff (which is mostly doing things how things should be done in the first place) is because of him.
If they aren't lending enough, and are going against the BOE when it comes to funding....well, that's not hesters fault, it's the fault of something else. However, if they hit a funding target or even just lend to a few more business's, Hester becomes a saint.
Though I have to say, he's not saying much at all....again, someone else is taking the flak over his entitlement to his bonus and someone else is stating he should have it, while he sits back.
If he's stated he isn't going to take it, which he has, directly to the public, we shouldn't be in this position. THIS is why so many take a dislike.0 -
Thrugelmir wrote: »Isn't that why we've ended up in a mess?
Bank balance sheets became so complex that no one understands what they contain. The BOE, FSA and US Treasury included. So may require a good steward to unwind them.
Hester has unwound around £700 billion of assets so far. Given there's not been sizable losses. A fair feat in my mind.
Has Hester done that himself? Or has regulation as to how they can now operate and the ring fence they find themselves in seen a natural progressions towards this?
If I had a load of debt, and suddenly every lender said I couldn't borrow anymore, would I be hailed as a genius for keeping my debt levels where they are? I've been forced to do it, that's all.0 -
But isn't that what the bankers pre-credit crunch were being massively overpaid to do? Why are they still being rewarded for a job that is not so intellectually challenging? Their justification is that you have to attract the top 'talent' but when you offer megabucks all you get are the greedy ones not necessarily the most capable.Thrugelmir wrote: »Isn't that why we've ended up in a mess?
Bank balance sheets became so complex that no one understands what they contain. The BOE, FSA and US Treasury included. So may require a good steward to unwind them.
There are plenty of people around who could do the job as well if not better!0 -
There are plenty of people around who could do the job as well if not better!
If there were then salaries won't reach the levels they do. In any field or industry.
I'm only commenting from personal experience. As if you've worked with a top CEO. You'll appreciate that some people have qualities that the average joe doesn't. Myself included.0 -
Thrugelmir wrote: »If there were then salaries won't reach the levels they do. In any field or industry.
I'm only commenting from personal experience. As if you've worked with a top CEO. You'll appreciate that some people have qualities that the average joe doesn't. Myself included.
Teflon coated. mercurial and slippery.;)"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
grizzly1911 wrote: »Teflon coated and slippery.;)
Yes and no. People at the top are a reflection of society. Some good some bad.
No one complained about Diamond while Barclays was producing the profits. Now the veneer is peeling back. Seems as if Barclays adopted a very hard nosed New York style of management. Not remotely British in style.
British management on the whole is valued and respected worldwide.0 -
Graham_Devon wrote: »So, Stephen Hester, head of RBS is apparently doing one of the most difficult and challenging jobs in the world.
Therefore, he desereves his bonus of £2.4m on top of his salary of £1.2m, on top of his pension contributions of £400k on top of his possible £4m long term bonus.
So, thoughts.... is he doing the most difficult and most challenging job in the entire world?
Or is half the banking sector overpaid, making his job look underpaid?
Theres not many tears being shed for him, obviously.... even though his salary is just "modest".
It's also worth noting that Hester stated he'd give up his bonus at the time of the computer meltdown. However, he appears to have forgotten this. Funny really, so utterly intelligent, yet completely forgets what he himself said.
Stated in June...
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9863514/RBS-boss-Stephen-Hester-should-take-bonus.html
Idiots on here still keep worshipping the banker scum that caused this mess. When will they learn:(0 -
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.9K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards