Held to ransom by the bankers: Bosses at RBS threaten to quit if they can't dole out huge bonuses

Held to ransom by the bankers: Bosses at RBS threaten to quit if they can't dole out huge bonuses

www.dailymail.co.uk

Liberal Democrat spokesman Vince Cable said: 'I would welcome their resignations as they cannot hold the taxpayer to ransom. It's absolutely right that the government should impose bonus discipline on this bank.'
Alistair Darling

'As a state-run bank, the Government must finally take control and ensure that both its pay and lending practices are in the public interest.'

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How will this end? Will they resign? If so it's a victory for the people, if not, which is most likely, we'll have a beautiful confirmation of who's running the country.
The ING bank in Holland got away with it and the minister of Finance approved their bonuses for this year although the bank was kept alive with more than 20 billion Euro from the state.

Hail Capitalism!

www.dailymail.co.uk
(visit the link for the full news article)

It's simple really! They can go ahead and pay themselves bonuses, when they have repaid every penny of government - tax payer - money that was used to bail them out. Plus interest of course, why should they get preferential treatment?

They have such a high opinion of themselves and fail to recognise the fact that it was their own dodgy investments and greed that led to their bailout in the first place. So, if they don't like it then they can quit. After all, that's what the rest of us do in the real world.

bravo to Vince Cable.

Simple enough answer for the Government to issue when confronted by these temper tantrums?

Ok, bye then

Originally posted by Regenstorm

Hail Capitalism!

Or, Hail Fascism!

They should all have resigned when they screwed up the first time. In the real world when we screw up we get the sack.

They won't resign though - government will bow down to the masters that really run the country.

From the sounds of the News (BBC/SKY) the media is coming out in support of the Bankers, "Boohoo, they don't earn enough as it is" the poor down trodden impoverised bankers need every penny of the bonus they have earned..

Well as far as I am concerned they can go (insert appropriate phrase)

What a bunch of prima donnas.. hope they get to see what a P45 looks like and soon...

Vince Cable is one of the few MP's who has retained even the slightest bit of integrity throughout all the recent disclosures and is a 'people's' politician.
Unfortunately the party he represents is a joke!

Of course these bonuses should be witheld.
But cries for the repaying of the monies paid to the banks are naive.
That money was never physically printed and changed hands.
If that money was physically returned then the pound would be devalued and inflation would be rampant.

I don't even pretend to understand the inticacies of it all.
All I know is that this country has been bankrupted to bail the banks out of a mess that they themselves had got themselves into.
This country will be paying the price for a generation or two.
For those self same bankers to be demanding obscene bonusues is immoral and we should demand that these individuals be held legally accountable for the mess they have made of the British economy.

Good riddance I say.

[atsimg]http://files.abovetopsecret.com/images/member/58125e2ff6f0.jpg[/atsimg]

We should be so lucky to see their resignations, however reality is rarely if ever based on personal preference let alone fairness. They'll stay, and they'll get fatter, and fatter, and fatter until they have to be removed by force.

As an RBS customer (for 20 years) this infuriates me, they want to give their investment bankers a 50% increase in bonuses over last year, not only that, RBS are now taking 5% of all funds I put into my investment fund (think about it, my investments have to increase by 5% now just to break even).

So I would like to ask anyone here who is an RBS customer to join me, I have just sent a letter off to the RBS Collective Investment funds Ltd in Chelmsford telling them to shut down my investment fund I will also close my current and savings account with them.

Hear is a copy of the letter I sent.

F - em, I'm tired of these hostage situations.

My question is, when did the US change it's policy to appease terrorism?

Maybe someone should tell these geniuses that basically pull threats out of their hats by the week now, that threats grow old, lose their zip, and wear out the fear charge sooner than later.

Originally posted by galatea
bravo to Vince Cable.

The best prime minister we will never have. Cable has been bang on the money with the hole financial crisis. I'm sure if the LIb Dems made Cable their leader, their chances would improve considerably.

Resignation? How about prosecution for mismanagement of public funds, destabilization of the economy and betrayal of the public trust for starters?

The whole affair just reminds me of the trope of the evil scientist that holds the world ransom with a death ray machine for a million dollars or so.

Unfortunate that everything can't be fixed by putting a bullet in the bad guy...just are not enough bullets for all the bad guys, it would seem.

reply to post by yeebsy


Oh yeah! Way to go! I had a good laugh over your letter and agree wholeheartedly with it. Meh i should do the same with my bank in retrospect.. Hmm. Thanks for that, by the way, this topic should get flagged all the way to the frontpage imo.

someone should remind them that they are lucky they still have jobs???

if my company had made such of mess of their business, I'd be in an unemployment line, as would most of those participating in this thread I imagine...

as it is, my company has done fairly well considering the problems the big bankers and investors in this country created, but not so good that I expect to see a bigger bonus as last year, na, it will be smaller, I am pretty sure!!

the talk about the poor, and their sense of entitlement, but well, the poor actually need the help to survive, and well, many of those poor are working, so, if they don't survive, who's gonna serve you next time you visit your friendly resturant? these guys don't need any more money!! their feeling of entitlement far overshadows the poors by a long shot!

What get's me is this whole "too big to fail" nonsense. Screw 'em, let them fail as a warning that the taxpayer will not tolerate their thieving and mismanagement any longer.
Seize them, sell off every asset to compensate the creditors - starting with the personal savers first, NOT the big corporate shareholders. Seize also the assets of the boards of these establishments, make them personally liable - the buck does, after all, stop with those at the top who reap the huge benefits but deny responsiblity or accountability. Pumping public money into them just encourages them to carry on as usual and will not fix the issues, especially when they still make demands after being bailed out.

reply to post by Harman


Cheers and yes this topic should be flagged, we as customers hold the power, all we need to do is walk or if you don't want to walk then every customer should all pull their money on the first day of the month and then drip feed it back in when your direct debits etc are due.

reply to post by woodwardjnr


For once we agree.
Vince Cable is a people's politician who has maintained his integrity and is pretty much on the button on a lot of issues.
He certainly has a good hang on the banking crisis etc.
Unfortunately his party is completely unelectable as theycar regarded as political lightweights in large parts of the country.
And any upsurge in support for them would probably result in a hung parliament.
Would that be good?
I genuinely don't know and have mixed feelings about it.

Is there seriously any market at all for banker execs? Won't quitting just mean they go home and don't get paid again for years or decades? I hear all these scare tactics about how executive retention is so important. But seriously, who would hire these people? I'd sure love to know what the re-hire rate is for bank execs.

Originally posted by truthquest
Is there seriously any market at all for banker execs? Won't quitting just mean they go home and don't get paid again for years or decades? I hear all these scare tactics about how executive retention is so important. But seriously, who would hire these people? I'd sure love to know what the re-hire rate is for bank execs.

Exactly - why do they even want to retain incompetent fools that have proven they can't do their job properly?

I just don't get all the talk of having to pay big bonuses or lose them to other country's banks! Let them go - they can't do their jobs anyway!