Banks

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.

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 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.

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.

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.

And our government complains about corruption elsewhere!

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.

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?

Annobel. I agree why indeed [sceptical]

Why would anybody want George Osborne?

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!

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?