Hedge Funds

[snaw]

That's common sense. Would you trust bank more if it took such pro-active approach towards staff? I sure would. If the staff does not like the rules that safeguard clients money they can fook off. There will be plenty of people to earn City salary while also doing their job properly - certainly after many in the City lose their jobs in the next 2-3 years.

As I said before - anyone who gets big bonus on Xmas and goes to buy brand new Porsche while knowing full well (or should have known using their supposedly superior City economic knowledge) that it's the peak period for idiots with bonuses buying flashy cars, then it would make economic sense to wait at least few months to buy off 2nd hand 3-4 months old Porsche for a LOT less money. Now that would be sound approach to spending bonus on Porsche and if my employee told me this strategy I'd approve it. But if he went to buy Porsche straight away with Xmas bonus he would not have a job in Januiary.

No, it's communism. Almost a police state, and most defintely a country I'd not want to live in.

You earn the money yourself, you have earned the right to spend it how you want, without interference from your boss and risking losing your job cause you wanted to buy yourself a new car. No one would work in your company or for you AtW.

You can take the boy out of Russia ...

[AtW]

No, it's communism. Almost a police state, and most defintely a country I'd not want to live in.

No it's not police state - it's common sense and company policy.

How do you like companies that require people to check in/out when they got to the toilet? There are plenty of those in the UK!

You earn the money yourself, you have earned the right to spend it how you want, without interference from your boss and risking losing your job cause you wanted to buy yourself a new car.

Ok, so you think an MI6 officer can get his earned money and go out sniffing charlie, gamble in casino etc and still keep his job? I don't think so - and their contracts certainly reflect that. Like that scandal with sex orgy regarding F1 dude - one of the woman prostitute there was wife of MI5/6 officer who had to resign as the result.

If you don't like these simple rules you should not be in charge of money belonging to other people.

[AtW]

No one would work in your company or for you AtW.

You certainly won't work in my company or for me - you have very poor attitude and no bright talent that would warrant closing ones eyes on your lack of attitude. You are a perfect City worker snaw - enjoy it while it lasts, it won't for long.

One would have to have at least one of the two qualities I described above - I've got 2.

[snaw]

No it's not police state - it's common sense and company policy.

How do you like companies that require people to check in/out when they got to the toilet? There are plenty of those in the UK!

Might not like it, but it's within the bounds of acceptability for a company to verify it's employees are actually doing the hours of work they're paid for. What they do in their spare time afterwards, and how they spend their wages is their choice. You're comparing apples and oranges.

Ok, so you think an MI6 officer can get his earned money and go out sniffing charlie, gamble in casino etc and still keep his job? I don't think so - and their contracts certainly reflect that. Like that scandal with sex orgy regarding F1 dude - one of the woman prostitute there was wife of MI5/6 officer who had to resign as the result.

If you don't like these simple rules you should not be in charge of money belonging to other people.

An MI6 officer has that kind of scrutiny because that kind of behaviour can (And has) been used to blackmail them into actions contrary to their countries interests.

I'm not so sure they'd be quite as blackmailable if they bought a new porsche ...

Someone in IB, or otherwise sniffing charlie, or gambling in casinos isn't by dint of this behaviour more risky. I'm pretty sure the trader you mentioned from Socgen didn't do any of this. Hell, I've done it - I still turned up for work and performed my job as expected, big deal. I know plenty of IB/traders that don't do any of that either. You're telling them they can't spend their hard earned readies on a new car?

Sorry, but you've clearly got some underlying authoritarian hangover from Commie Russia subconscious thing going on, you just don't realise it.

[AtW]

What they do in their spare time afterwards, and how they spend their wages is their choice. You're comparing apples and oranges.

Certain behavior of employees reduces or increases their risk profile. My bank (if I had one) would have rewarded those employees that act wisely in long term and do not increase risk to the bank. Sure they can spend their wages any way they want - however if they want to continue working in my bank (and this work will be paid very well) then they'd would have to act in a way that does not put bank into disrepute and does not increase risk profile. This means NO blowing Xmas bonus on Porsches or alike. Buying Tube season ticket is okay however.

An MI6 officer has that kind of scrutiny because that kind of behaviour can (And has) been used to blackmail them into actions contrary to their countries interests.

And you think a bank employee who is responsible for billions of pounds of clients money, their retirement funds, their children colledge funds, their life savings, their holidays etc should be scrutinies less than MI6 officer? I think not. Impact on ordinary citizens by mistakes of people like the City is much higher than some blackmailed MI6 officer - which is still unacceptable risk too.

[AtW]

Someone in IB, or otherwise sniffing charlie, or gambling in casinos isn't by dint of this behaviour more risky.

Yeah, like they won't take more risks in order to get their bonus (when market is falling so normal course of action does not guarantee them bonus they got used to)!

It's like saying junkie unemployed person has not got increased risk profile of committing crimes - of course they are more likely to do it because they need money for their addiction!

Say I don't mind Kate Moss sniffing charlie - the only risk profile she increases is for her own company, as long as she does not run bank I don't care.

[snaw]

You certainly won't work in my company or for me - you have very poor attitude and no bright talent that would warrant closing ones eyes on your lack of attitude. You are a perfect City worker snaw - enjoy it while it lasts, it won't for long.

One would have to have at least one of the two qualities I described above - I've got 2.

So disagreeing with you highlights my poor attitude. Yep - God complex going on strong. You'd be a great boss - I can tell you're a real leader, full of magnetism and charisma

I do well enough mate, I'm at the very top of the tree in my field. I work hard, I deliver consistently and I've never had a bad reference or anyone who wouldn't employ me again (And a couple have, several times).

I'll be sure to take your advice that the city won't last for long on board.

[snaw]

My bank (if I had one) would have rewarded those employees that act wisely in long term and do not increase risk to the bank. Sure they can spend their wages any way they want - however if they want to continue working in my bank (and this work will be paid very well) then they'd would have to act in a way that does not put bank into disrepute and does not increase risk profile. This means NO blowing Xmas bonus on Porsches or alike. Buying Tube season ticket is okay however.

Great example this one. What makes you think anyone cares what your hypothetical bank would be like to work for? It'll never happen.

I think I've actually sussed you out, you're kind of like a Stalin who never quite made it.

[AtW]

So disagreeing with you highlights my poor attitude.

No. You did not disagree with me in this thread - you tried to shut my mouth while you personally did not have any valid arguements. This is certainly poor attitude in my view.

I'm at the very top of the tree in my field.

And you say just earlier about me: "God complex going on strong."

Where did I say I am "top of the tree in my field" or anything like this? Come to think of it maybe...

[AtW]

I think I've actually sussed you out, you're kind of like a Stalin who never quite made it.

Do you know how many millions were killed by Stalin? Do you know really what he turned Russia into?

My grand father who lived during his time was imprisoned on deliberately false report - he barely survived it and then died shortly after he was released. He was totally innocent and the person who made this false report was begging my grandmother recently for forgiveness. That's what Stalin did, how dare you accuse me of doing anything anywhere close to the crimes he did??!?!