Bankers, RBS Bosses in threat to quit Options

[TallDarkAndHands...]

The RBS board of directors have threatened to quit if they are not allowed to pay bonuses of £2,000,000,000 to the investment bankers that work for them.

Is it fair that bankers should be rewarded like this after recent events or does government intervention on these matters mean that RBS will lose its most intelligent and profitable staff?

Personally, I think the RBS bosses are acting disgracefully and the Chancellor should accept their resignations immediately.

[regor]

Bonuses?????

How about heads on spikes at the city gates. That would encourage them to behave.

[Bloggo]

The RBS board of directors have threatened to quit if they are not allowed to pay bonuses of £2,000,000,000 to the investment bankers that work for them.

Is it fair that bankers should be rewarded like this after recent events or does government intervention on these matters mean that RBS will lose its most intelligent and profitable staff?

Personally, I think the RBS bosses are acting disgracefully and the Chancellor should accept their resignations immediately.

Since these guys allowed the Bank to get into the mess it did and it was only Government funding that got them out then I think that accepting their resignations would not be a bad thing.
There are probably as able or better waiting in the wings to replace them.
The Country is still in recession and it is obscene for these levels of bonuses being paid at this time.
The money should be put towards the Countries debts.

[TallDarkAndHands...]

Since these guys allowed the Bank to get into the mess it did and it was only Government funding that got them out then I think that accepting their resignations would not be a bad thing.
There are probably as able or better waiting in the wings to replace them.
The Country is still in recession and it is obscene for these levels of bonuses being paid at this time.
The money should be put towards the Countries debts.

It actually makes me so angry this its untrue. I mean why bother with the middle man (the bank) - just get the government to pay the bankers billions out of our tax revenue. Betting on the indices of stock markets is so difficult..... watch the news and make a bet.

[blackdog]

Bonuses are paid on the basis of results - if someone makes the bank £100 billion in a year is it worth paying him half a billion to stay and carry on making the dosh?

If all the top performers leave, and their replacements cannot make the same profits, the bank and hence the shareholders (ie us) will lose out.

Massive bonuses are obscene, but stopping them in nationalised banks like RBS while private banks keep paying them is a recipe for the failure of the likes of RBS.

The only way to stop the obscenity of these massive bonuses is through international action - which won't happen.

What must happen is that the Inland Revenue gets their 40% on a PAYE basis - don't let them hide it away in tax avoidance scams (which some of them will be expert at doing).

[Andy1]

Bonuses are paid on the basis of results - if someone makes the bank £100 billion in a year is it worth paying him half a billion to stay and carry on making the dosh?

If all the top performers leave, and their replacements cannot make the same profits, the bank and hence the shareholders (ie us) will lose out.

Massive bonuses are obscene, but stopping them in nationalised banks like RBS while private banks keep paying them is a recipe for the failure of the likes of RBS.

The only way to stop the obscenity of these massive bonuses is through international action - which won't happen.

What must happen is that the Inland Revenue gets their 40% on a PAYE basis - don't let them hide it away in tax avoidance scams (which some of them will be expert at doing).

I agree... I believe 70% of their profit is from the Investment side. Although I'm not a big fan of Investment Bankers. 40% of their bonus surely goes to the tax man. A New Aston Martin etc...... I'm not trying to be funny but if Aston Martins orders fell by as much as 2 or 3 cars in a year, would they not lay people off ? (Question not Statement User23).

[Jayjay]

I agree... I believe 70% of their profit is from the Investment side. Although I'm not a big fan of Investment Bankers. 40% of their bonus surely goes to the tax man. A New Aston Martin etc...... I'm not trying to be funny but if Aston Martins orders fell by as much as 2 or 3 cars in a year, would they not lay people off ? (Question not Statement User23).

Big earners have accountants, they are not PAYE, so no where near 40% goes to the tax man.

[Andy1]

Big earners have accountants, they are not PAYE, so no where near 40% goes to the tax man.

I stand corrected. So they have accounts, who work for free ?