Reply to: Bank bonuses

[Ruprect]

That was deliberate... if the banks create more jobs who will be claiming to save the country?

world

[d000hg]

Could you give them another name? I don't think Brown really has very positive connotations at the moment.

That was deliberate... if the banks create more jobs who will be claiming to save the country?

[Cyberman]

Very timely !!

http://www.uksa.org.uk/UKSA_Press077_Pay.pdf

[BrilloPad]

WHS. People will 'earn' money any way they can.

Prostitutes do.....

[Mich the Tester]

But if everyone takes a 30% pay cut and works 30% less hours, you still need to DO the other 30% of the work, which means paying other people.

Of course that would lead to hiring more people (at lower pay) which would get some good Brownie points.

Could you give them another name? I don't think Brown really has very positive connotations at the moment.

Greenie points?
Bluey points?

[d000hg]

They don't necessarily have to leave. Some of the people we're talking about work absolutely insane hours, with the expectation they'll be rewarded with a decent (Dunno if anyone is expecting big this year - was out with a couple of guys I know in IB last night, and they reckon 60% of what they got last year would be better good).[/b]

Alternatively aren't insane hours a major cause of mistakes?

The obvious consequences I see from working normal hours are that they'll be able to lead a more balanced life, have less broken homes, incur less in divorce costs etc, I would have thought that the last person you want in charge of squillions is someone who's permanently suffering from nervous exhaustion and maybe resorting to a cocktail of drugs and booze to cope.

But if everyone takes a 30% pay cut and works 30% less hours, you still need to DO the other 30% of the work, which means paying other people.

Of course that would lead to hiring more people (at lower pay) which would get some good Brownie points.

[d000hg]

The argument some people are giving is that if they don’t pay bonusses then the most talented people will leave. Which begs the question; where will they go? If nobody’s hiring, there’s no need to fear people leaving.

So no. No bonuses until the taxpayer has been repaid. At that stage, those who have contributed most can be rewarded handsomely, especially software testers.

If your bonus is bigger than your salary (I've no idea what % is common) then I'm sure lots of people would leave rather than take a drastic pay cut. They might decide to set up their own financial services business or simply take a year or 2 sabbatical on the huge savings they have from previous years.

I don't doubt many here would rather spend a few months benched than take even a 20% rate cut, if they have good warchests - same principle.

[Rookie]

I disagree. They are rich and got away with it. Its those who let them get away with it who are idiots.

WHS. People will 'earn' money any way they can.

[Rookie]

Do they all live in mines?

Yes. They live in mines and work in banks. How things have progressed since the 1800's.

[Solidec]

This is the MPC you're talking about, right?

Merve The Swerve would be sorted right out of the chick in your avatar gave him a good workout!

He would be all relaxed and smiling and would then tell the One eyed scottish idiot to stick his fiscal stimulus up his dour dithering derriere

[Ruprect]

It’s one thing to blame Clinton, but George W Shrub spent 8 years not doing anything about it and running up huge government deficits at the same time. Mind you, I’d be surprised if Bush could even read ‘Credit Derivative’ without the aid of a remedial literacy teacher.

<wipes coffee off keyboard>

[BrilloPad]

Idiots, the lot of them

I disagree. They are rich and got away with it. Its those who let them get away with it who are idiots.

[Mich the Tester]

Do they all live in mines?

If only.

[Ruprect]

Considering this is the first time in over a decade, probably longer that any major financial institute has made a net loss, the directorship are just not mentally equipped to deal with such a position. They never gave an ounce of thought to how staff remuneration would work if the company reported a loss, because in their mines it was a one way bet.

Idiots, the lot of them

Do they all live in mines?

[ratewhore]

...I would have thought that the last person you want in charge of squillions is someone who's permanently suffering from nervous exhaustion and maybe resorting to a cocktail of drugs and booze to cope.

This is the MPC you're talking about, right?