So The EU Want To Cap Bonuses To One Years Pay

[A Humble Man]

How many people get bonuses anything like and who deserves such money.

It makes me sick to the stomach that bankers who caused the World to go into almost permanent recession get such obscene levels of emolument.

[Burt]

Like big name footballers...although to be fair they didn't cause the recession.

[GloucesterWhite]

1) Fortunately I don't suffer from envy so I couldn't give a monkey's how much bankers are paid.

2) Why should the EU tell a company operating in London how much it can pay its staff?

3) It's the Googles, Amazons, and Starbucks of this world that don't pay tax on UK profits that annoy me.

[A Humble Man]

1) Fortunately I don't suffer from envy so I couldn't give a monkey's how much bankers are paid.

2) Why should the EU tell a company operating in London how much it can pay its staff?

3) It's the Googles, Amazons, and Starbucks of this world that don't pay tax on UK profits that annoy me.

The banks make all this money by using our money that is what I object to.

[sipwell]

2) Why should the EU tell a company operating in London how much it can pay its staff?

Because the UK is a member of the EU, that's why.

[Roberty]

1) Fortunately I don't suffer from envy so I couldn't give a monkey's how much bankers are paid.

2) Why should the EU tell a company operating in London how much it can pay its staff?

3) It's the Googles, Amazons, and Starbucks of this world that don't pay tax on UK profits that annoy me.

The banks make all this money by using our money that is what I object to.

All companies take money from us - it is called commerce - it was what gives the work we do a value - it allows us to be paid money for the work we do - it allows us to spend that money to buy the output that others have been paid for - it is what keeps the world going round.

As far as the banks are concerned - what organisation would you like to have in charge of the financial system? We could just hand all the money to the government and let them circulate it - it is what communism sought to do - it failed.

Maybe you object to Richard Branson too? He makes a lot of money out of us and squirrels it away into his off-shore companies.

[Roberty]

2) Why should the EU tell a company operating in London how much it can pay its staff?

Because the UK is a member of the EU, that's why.

The question is "why should any outside body say how much you should be allowed to earn"?
Would it be OK if the UK government voted to tell your company that you should take a 50% pay cut?
A minimum pay rate might be socially acceptable but the government should not be telling anyone what the maximum amount they can earn is.

[The Equalizer]

1) Fortunately I don't suffer from envy so I couldn't give a monkey's how much bankers are paid.

2) Why should the EU tell a company operating in London how much it can pay its staff?

3) It's the Googles, Amazons, and Starbucks of this world that don't pay tax on UK profits that annoy me.

The banks make all this money by using our money that is what I object to.

All companies take money from us - it is called commerce - it was what gives the work we do a value - it allows us to be paid money for the work we do - it allows us to spend that money to buy the output that others have been paid for - it is what keeps the world going round.

As far as the banks are concerned - what organisation would you like to have in charge of the financial system? We could just hand all the money to the government and let them circulate it - it is what communism sought to do - it failed.

Maybe you object to Richard Branson too? He makes a lot of money out of us and squirrels it away into his off-shore companies.

What he said. One thing that people don't seem to gather is how commerce works. You buy things, you sell things, you take a margin and then you take a percentage of the profit for yourself.

It's the same with banking. You buy stocks/options/bonds/currencies, you sell them, you make profit and then the person responsible takes some form of commission, in this case it's a bonus. If you've made your company £20,000,000 profit and are offered 5% comm I don't see the problem with that person making a Million.

People only seem to be bitter because they are wage slaves (like myself I hasten to add) are don't seem to benefit from this system. I'm sure if positions were reversed opinions would be reversed too.

[Burt]

2) Why should the EU tell a company operating in London how much it can pay its staff?

Because the UK is a member of the EU, that's why.

The question is "why should any outside body say how much you should be allowed to earn"?
Would it be OK if the UK government voted to tell your company that you should take a 50% pay cut?
A minimum pay rate might be socially acceptable but the government should not be telling anyone what the maximum amount they can earn is.

Indeed.

This smacks of an incomes policy and they have never worked.

This one won't work because the remuneration which would have been bonus will be awarded in some other way e.g. LTIP, or just bump up the base.

[TonyGilroy]

How massive bonuses can be paid by banks making big losses some of which are owned by US following appalling negligence and fraud which nearly destroyed the economies of the western world beggars belief.

Fortunately Mr Cameron has explained that we can't afford to allow such talent to move abroad.

[FFC1987]

1) Fortunately I don't suffer from envy so I couldn't give a monkey's how much bankers are paid.

2) Why should the EU tell a company operating in London how much it can pay its staff?

3) It's the Googles, Amazons, and Starbucks of this world that don't pay tax on UK profits that annoy me.

The banks make all this money by using our money that is what I object to.

All companies take money from us - it is called commerce - it was what gives the work we do a value - it allows us to be paid money for the work we do - it allows us to spend that money to buy the output that others have been paid for - it is what keeps the world going round.

As far as the banks are concerned - what organisation would you like to have in charge of the financial system? We could just hand all the money to the government and let them circulate it - it is what communism sought to do - it failed.

Maybe you object to Richard Branson too? He makes a lot of money out of us and squirrels it away into his off-shore companies.

What he said. One thing that people don't seem to gather is how commerce works. You buy things, you sell things, you take a margin and then you take a percentage of the profit for yourself.

It's the same with banking. You buy stocks/options/bonds/currencies, you sell them, you make profit and then the person responsible takes some form of commission, in this case it's a bonus. If you've made your company £20,000,000 profit and are offered 5% comm I don't see the problem with that person making a Million.

People only seem to be bitter because they are wage slaves (like myself I hasten to add) are don't seem to benefit from this system. I'm sure if positions were reversed opinions would be reversed too.

This would be a great explanation regarding the bonus situation but it grossly neglects the idea that all bankers make money. Seeing as they don't, it makes a mockery because someone who has lost the company X amount will still get a bonus. Is this justifed?
Being an accountant I have received nice bonus packages and should be on board with it BUT you need to earn it. I wouldn't get one if I created a strategy that contributed to a recession/annual loss for said company unfortately the same can't be said for bankers, and that includes cheif exec's etc.If your bank made a loss, no bonus should be given apart from as the gentlemen i quoted said, to a person who managed to recover and lessen the overall debt.

As for the tax havens, that's a completely different ball game. If our government see fit to allow this to happen and justify it, fair game but to date, I have seen no justification apart from trying to guilt trip them saying it's immoral....Pish, they're just scared it will demote businesses and make them go elsewhere which again, is an excuse.

[WhiteJC]

1) Fortunately I don't suffer from envy so I couldn't give a monkey's how much bankers are paid.

2) Why should the EU tell a company operating in London how much it can pay its staff?

3) It's the Googles, Amazons, and Starbucks of this world that don't pay tax on UK profits that annoy me.

The banks make all this money by using our money that is what I object to.

All companies take money from us - it is called commerce - it was what gives the work we do a value - it allows us to be paid money for the work we do - it allows us to spend that money to buy the output that others have been paid for - it is what keeps the world going round.

As far as the banks are concerned - what organisation would you like to have in charge of the financial system? We could just hand all the money to the government and let them circulate it - it is what communism sought to do - it failed.

Maybe you object to Richard Branson too? He makes a lot of money out of us and squirrels it away into his off-shore companies.

What he said. One thing that people don't seem to gather is how commerce works. You buy things, you sell things, you take a margin and then you take a percentage of the profit for yourself.

It's the same with banking. You buy stocks/options/bonds/currencies, you sell them, you make profit and then the person responsible takes some form of commission, in this case it's a bonus. If you've made your company £20,000,000 profit and are offered 5% comm I don't see the problem with that person making a Million.

People only seem to be bitter because they are wage slaves (like myself I hasten to add) are don't seem to benefit from this system. I'm sure if positions were reversed opinions would be reversed too.

how can 1 person make £20,000,000 profit in 1 year? another question is why do the banks need to make this level of profit from just 1 employee?

[The Equalizer]

1) Fortunately I don't suffer from envy so I couldn't give a monkey's how much bankers are paid.

2) Why should the EU tell a company operating in London how much it can pay its staff?

3) It's the Googles, Amazons, and Starbucks of this world that don't pay tax on UK profits that annoy me.

The banks make all this money by using our money that is what I object to.

All companies take money from us - it is called commerce - it was what gives the work we do a value - it allows us to be paid money for the work we do - it allows us to spend that money to buy the output that others have been paid for - it is what keeps the world going round.

As far as the banks are concerned - what organisation would you like to have in charge of the financial system? We could just hand all the money to the government and let them circulate it - it is what communism sought to do - it failed.

Maybe you object to Richard Branson too? He makes a lot of money out of us and squirrels it away into his off-shore companies.

What he said. One thing that people don't seem to gather is how commerce works. You buy things, you sell things, you take a margin and then you take a percentage of the profit for yourself.

It's the same with banking. You buy stocks/options/bonds/currencies, you sell them, you make profit and then the person responsible takes some form of commission, in this case it's a bonus. If you've made your company £20,000,000 profit and are offered 5% comm I don't see the problem with that person making a Million.

People only seem to be bitter because they are wage slaves (like myself I hasten to add) are don't seem to benefit from this system. I'm sure if positions were reversed opinions would be reversed too.

how can 1 person make £20,000,000 profit in 1 year? another question is why do the banks need to make this level of profit from just 1 employee?

I could refer you to my friend who has made more than £75Million profit in the last year. But that's a long conversation about someone else's business.

[Roberty]

How massive bonuses can be paid by banks making big losses some of which are owned by US following appalling negligence and fraud which nearly destroyed the economies of the western world beggars belief.

Fortunately Mr Cameron has explained that we can't afford to allow such talent to move abroad.

The people rescuing the banks were not those in charge when the implosion happened. If the situation is going to be salvaged it does need skilled people to do it and they have to be paid.

The surprise is that the previous management were allowed to walk away without having to answer for their mistakes.

I am sure it has nothing to do with the fact that the Brown regime might have been found jointly responsible if they had been pursued because I am would be sure that their management of our economy and it's regulation was beyond reproach. Mr Balls keeps telling us that it was nothing to do with him or his his colleagues mismanagement of the ecomony and it's regulation and I am sure he is absolutely right.  

[TonyGilroy]

Lack of proper bank regulation was a crime instigated by Thatcher and carried on with blissful disregard for the consequences by New Labour with the full support of the Conservative opposition.

[GloucesterWhite]

2) Why should the EU tell a company operating in London how much it can pay its staff?

Because the UK is a member of the EU, that's why.

Errr, actually Mr Sipwell, PART of the UK is in the EU. The Channel Islands (Jersey, Guernsey etc) are part of the UK but are not members of the EU - they wisely stayed out. But that's splitting hairs. My point is that Brussels doesn't limit how much a bus driver earns, why bankers?

Fortunately the EU rule is unworkable, otherwise the banks would likely move out to Switzerland, New York, or the Channel Islands (although the latter are small islands and can't cope with many more residents). I suppose that would somehow make Brussels happy? Weird, meddling, and stupid.

[Roberty]

Lack of proper bank regulation was a crime instigated by Thatcher and carried on with blissful disregard for the consequences by New Labour with the full support of the Conservative opposition.

So I was right - they are blameless.
I am though still wondering what happened to by pension fund - they seem to have their hand in that pot instead of taking care of banking regulation.

[TonyGilroy]

Is there any real doubt that the banking crisis was the result of western governments not understanding what could go wrong with the way that the banks were operating and/or crossing their fingers and hoping that nothing bad would happen on their watch.

If they understood the risks they weren't willing to contemplate taking preventative measures and rightly so because no electorate would have understood why they were standing in the way of the growth which benefited us all.

A sensible argument here isn't a party political one. Labour and Conservative governments and oppositions were equally complicit.

The tragedy today is that no credible political party anywhere in the western world seems capable of trying to do things differently so we stagnate with austerity measures that harm most of us and do nothing to improve matters.

And still the bankers get mega bonuses because THEY'RE WORTH IT.

[GloucesterWhite]

Is there any real doubt that the banking crisis was the result of western governments not understanding what could go wrong with the way that the banks were operating and/or crossing their fingers and hoping that nothing bad would happen on their watch.

If they understood the risks they weren't willing to contemplate taking preventative measures and rightly so because no electorate would have understood why they were standing in the way of the growth which benefited us all.

A sensible argument here isn't a party political one. Labour and Conservative governments and oppositions were equally complicit.

The tragedy today is that no credible political party anywhere in the western world seems capable of trying to do things differently so we stagnate with austerity measures that harm most of us and do nothing to improve matters.

And still the bankers get mega bonuses because THEY'RE WORTH IT.

:plus one:

[alfie]

I was sure this was a football forum