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Legal & money

Banks

(12 Posts)
Lenevah Thu 12-May-11 17:26:30

Should the Investment side of Banks be separated
from the day to day side of banking; or must we
learn to no longer trust them to treat us honourably.Jeremy Warner in yesterday'sTelegraph and Angela Tilby in this morning's Thought for the
Day illustrated just how low Banks have sunk. It is
hard in ones late seventies to watch out for sharp
practice and they will certainly know how to cover their track.

sprinkles Wed 08-Jun-11 16:59:03

We hear today that those banks who were saved by the taxpayer from toppling over the edge have been handing out bonuses- from the tax money!
What is more astonishing is there was nothing in place to stop them from doing it.

gkal Wed 08-Jun-11 19:05:26

I think I read somewhere that bankers' bonuses form part of their work contracts so they can not be cancelled just like that. I can understand this with ordinary bank employees who don't have huge salaries but more senior bankers could easily bear the loss of their undeserved bonuses. I think investment bankers particularly are hard-wired to be greedy. They can't help themselves and feel no shame or responsibility for the crisis or the tax-payer funded solution that had to be found. We should be very suspicious when we see advertisements for banks which mention "wealth creation". That wealth is usually created using shady methods but we are all very trusting. Senior bankers need to be "dragged kicking and screaming" into doing the decent thing. If we let go they will always revert and go after the money, a bit like my stubborn little terrier who will always go sniffing after something unpleasant unless I am very firm with her smile The government should not be reasonable with them. Just tell them what they have to do and make sure they conform. If the government does not do its duty, then the public should pester them until they do. Sorry if I seem harsh.

chrisy Thu 07-Jul-11 20:08:51

I think it is unacceptable for us as taxpayers to be expected to support bank
bonuses. Why should we be rewarding them when they have failed us.

Littlelegs Fri 08-Jul-11 08:01:57

The government won't do much about the banks most of the MP's and ministers are ON THE BOARDS OF THESE BANKKS so they will not do anything to tip the balance.

Most of their friends are the ones that are getting the big bonuses and lining their pockets with taxpapers money. That is why they say they can't change what is already in place, the simple fact is they DON'T WANT TO.

hellypelly Fri 08-Jul-11 08:27:44

And our government complains about corruption elsewhere!

susiecb Fri 08-Jul-11 08:41:01

mmmm the thing I have pondered on is I wonder how many bankers are Tories and supporters of the Tory party. I bet you dont find many socialist bankers so why does the present gov continue to blame the last one when the whole system was set up under Margaret Thatcher to benfit her banker pals.

Annobel Fri 08-Jul-11 09:24:27

littlelegs I don't think that ministers and MPs can be on the boards of banks - YET! A good many former members get this kind of position, so I assume that the present lot want to keep a clean sheet so that they will be headhunted when they eventually leave the Commons. Why should any bank want George Osborne? hmm

Littlelegs Fri 08-Jul-11 09:47:52

Annobel. I agree why indeed [sceptical]

absentgrana Fri 08-Jul-11 12:43:51

Why would anybody want George Osborne?

Divawithattitude Fri 08-Jul-11 13:20:03

http://www.polis.leeds.ac.uk/about/news/where-do-ex-mps-go.php

A bit old but quite an interesting take on the subject!

crimson Sat 09-Jul-11 12:21:16

Can anyone explain to me why their bonuses are so huge when they're using my money to invest and I'm getting virtually not interest on my savings?