Reply to: Taxpayer owned RBS makes £2bn loss

[AtW]

If the bonus is in the contract they have to pay it

Maybe, but they can fire people who wrote such bad contracts and also those who approved such contracts - in any case execs who run whole firm should not be getting any bonus if they are losing money even if some division made them. Their job should be reductions of costs that are big - instead they outsourced call centers.

[scooterscot]

That's because you're a tinpot faux-company innit. Proper companies either have large cash reserves or proper credit facilities.

I don't always trade in cash

[sasguru]

RBS pays £985 million in bonuses despite 2 billion loss | Reuters


So pays £985,000,000 in bonuses.

Good to see our taxes put to good use again.

I wonder how much RBS donates to the Conservative party?

FFS Why don't you not bathe for a month, get a manky dog on a string and go and protest outside St. Paul's while selling the Socialist Worker?
It would have more integrity than moaning about capitalists on here.
No rich person would moan in that way, so I'm forced to conclude your claims to wealth are merely fantasy, as most here have concluded.

[AtW]

What if the people they paid £1bn to avoided the loss being £5bn...

In this case some of them who did really well will keep their jobs.

[DimPrawn]

Welcome to capitalism If you are earning money, someone somewhere is paying for it.

If it were capitalism, unprofitable banks would fail, and profitable ones would prosper. This is as far from capitalism as you can get.

[d000hg]

Meanwhile, in a far off universe, the people most affected by the bankers reckless gambling are being forced to work for less than minimum wage. We're all in this together™.

Welcome to capitalism If you are earning money, someone somewhere is paying for it.

[DimPrawn]

Should have gone [bust] like Iceland.

No, no, privatise profits and nationalise losses. Only Fair.

[TimberWolf]

Should have gone [bust] like Iceland.

[DimPrawn]

Meanwhile, in a far off universe, the people most affected by the bankers reckless gambling are being forced to work for less than minimum wage. We're all in this together™.

And whilst govts in the USA, UK and EU effectively print money in order to support zombie banks and their bonus culture, oil is $123 a barrel and rising fast, where as in December it was $103.

[TimberWolf]

Meanwhile, in a far off universe, the people most affected by the bankers reckless gambling are being forced to work for less than minimum wage. We're all in this together™.

[fullyautomatix]

If the bonus is in the contract they have to pay it. There are several divisions in RBS and if one division has made tons of money then as per contract the employees in that division have to be paid a bonus.

Having said that, I remember Labour doing a deal when Northern Crock was nationalised in order to prevent employees from jumping ship. They promised every employee a bonus irrespective of the performance and when it made a gigantic loss the employees still got a bonus.

[d000hg]

What I do know is I cannot afford to pay myself a bonus at the end of year if the money is simply not there.

That's because you're a tinpot faux-company innit. Proper companies either have large cash reserves or proper credit facilities.

[scooterscot]

What I do know is I cannot afford to pay myself a bonus at the end of year if the money is simply not there.

[DimPrawn]

What if the people they paid £1bn to avoided the loss being £5bn... then they're still a net gain to the balance sheet compared to bringing in cheap people who would screw it up.

When a company is in problems, you NEED to pay the best people you can find to try and save it. I'd expect a contractor on £500/day to know such things

[d000hg]

What if the people they paid £1bn to avoided the loss being £5bn... then they're still a net gain to the balance sheet compared to bringing in cheap people who would screw it up.

When a company is in problems, you NEED to pay the best people you can find to try and save it. I'd expect a contractor on £500/day to know such things