UK to fight EU plan to cap bankers' bonuses
 

http://www.guardian.co.uk/business/2...ankers-bonuses

Has cameron now lost al sense reality. Trying to openly protecting these obscene bonuses is going be political suicide.

We such in mess that we cant afford the banks to walk out london acting very scared is not good leadership. Personally not sure they will even if they protest it. Not many places on this earth for them to go to screw it now.

I know its not his fault we so heavily reliant on there business it goes all away back years and years. To protect them though I fear plain wrong. About time government start using a bit bottle to stand up against them.

The banks need tighter regulations. I dont buy his argument we got toughest remunerations and have clawed it. Just because couple bank bosses have waived there bonuses means we got grip.:dunce:

Should we just go there what about bonus sector in all corporations. Time to call time on the whole milking the cow shebang.

If they want the bonuses then all pay at every level reflect the companies wealth and generosity. He gets 10% of his salary bonus then everyone does. Cap there wages to say 10 times of the bottom rung.

At least all would benefit.

Re: UK to fight EU plan to cap bankers' bonuses
 

Its in relation to THIS

http://www.guardian.co.uk/business/2...ankers-bonuses

EU setting our laws and rules YET AGAIN. The EU should not be allowed to change our laws and rules, They should keep there bloody noses out of our affairs.

Re: UK to fight EU plan to cap bankers' bonuses
 

This indeed. Screw EU.

Re: UK to fight EU plan to cap bankers' bonuses
 

Has he got the bottle goto war with the bonus culture though. It needs someone who not scared them moving out. Fear we will just get deluted hash job which wont work. Will only be to appease them to stop running off.

Words are nothing if dont back it up with actions.

He would done something before now if was intended to goto war against them.

Re: UK to fight EU plan to cap bankers' bonuses
 

Only action i want is a referendum leave the EU - YES or NO, can we have it now please :)

Re: UK to fight EU plan to cap bankers' bonuses
 

Whilst i do wonder how some of these bonuses are earned and how the figures are arrived at i can't see how government has the right to interfere with bonuses paid by private companies .If bonuses where curbed by legislation then the banks would simply pay more in the form of a wage ,at least with the way it is now there is a chance that bonuses can be clawed back if it is revealed at a later date that things went wrong .Most of the big bonuses are paid over a number of years in the form of shares so easily taken back

Re: UK to fight EU plan to cap bankers' bonuses
 

i heard on the radio that the worry is that the talent in the banks will leave Europe:shocked:

what talent ? most of the banks have gone belly up ,i cannot understand why anyone would reward such incompetence with such massive bonuses:(

Re: UK to fight EU plan to cap bankers' bonuses
 

Nothing wrong with bonuses.

Re: UK to fight EU plan to cap bankers' bonuses
 

for being incompetent ?

Re: UK to fight EU plan to cap bankers' bonuses
 

I wasn't aware Cameron was making that a requirement.

Re: UK to fight EU plan to cap bankers' bonuses
 

Thats what makes me say its bluff. The City finance is damaged reputation you only got see about comments JP Morgan said about that department cost them billions.

Has Bob diamond got new employment yet as example. If he has then the stampede could be on. If has no top job then there good argument its just hot air threats.

If we see where the top players go after damaged reputation you will get indication if cameron right.

Problem is although it might harm us now in long run might be healthy. We may restrategise our country.

invest in proper training for range skills to work in manufacturing such as engineers. Creating pool of all sorts labour for our businesses to be able to use. Maybe those businesses pay small fee a year to use the skilled labour government funded. With pool skilled ederly who could be paid to hand down there talented knowledge help train this new army of labour.

Create investment banks and have banking system which functions does not waste it on banking casino style.

Re: UK to fight EU plan to cap bankers' bonuses
 

are you aware of what a hard days work is for the reward offered ,or do you just think its ok to underachieve and get a bonus .

Re: UK to fight EU plan to cap bankers' bonuses
 

Not all the bankers are/were corrupt or inept so why should they all be penalised when the rest are doing a good job? Seems like cutting off the nose to spite the face. There's nothing wrong with getting shot of the worst of course, but restricting the earnings potential of the best in Europe, as opposed to globally, will see them moving elsewhere leaving UK PLC with the worst and hence a less profitable and secure banking sector. They already function as global teams in the Far East, US and London so how long is a member of a team based in London and generating profits going to stand for being paid much less than his mate in Hong Kong or New York? It's all very well going on about what wrong has been done but that money's gone for good and what we now need to do is rebuild a profitable but well regulated banking sector which can once again generate vast tax revenues and in the case of RBS and BOS, one day pay back the taxpayer the debt it's owed.

Unlike salaries, bonuses can at least be clawed back (and are being) in the event of failure just in case anyone forgot and I reckon New York, Hong Kong and the like are rubbing their hands with glee. People keep saying things like 'let them go', forgetting that vast amounts of tax was paid on what they generated and earned as Gordon Brown himself can testify since he was the one spending it all. This was the reason he liked handing them gongs...

Re: UK to fight EU plan to cap bankers' bonuses
 

Come on, imagine the mess we'd be in without their talent and that assumes they actually gave a toss about what happened in the future, unfortunately our bankers were suffering from the same short termism as our politicians and set out to make the bank and therefore themselves in the form of bonuses as much money as possible as quickly as possible and hang the consequences.

Re: UK to fight EU plan to cap bankers' bonuses
 

Be careful what you wish foredit: link to the report....

Re: UK to fight EU plan to cap bankers' bonuses
 

There's plenty wrong with them if it's all done by cronieism and not by results.

Re: UK to fight EU plan to cap bankers' bonuses
 

Get over yourself. I'm quite aware thank you. Are you aware how dependant this country is on the financial sector?

As I said, I don't think that is what anyone thinks.

Re: UK to fight EU plan to cap bankers' bonuses
 

Or even for not doing any work for the competition.

http://www.guardian.co.uk/business/2...78m-golden-gag

£13million a year over 6 years for doing nothing. Nice work if you can get it.

Re: UK to fight EU plan to cap bankers' bonuses
 

Not as dependent as people make out, our much maligned manufacturing industry contributes more to the economy than the bankers, I'm not saying I want them to go but at the same time I'm not fooled into caving into what ever demands they make under the threat of leaving.

---------- Post added at 23:03 ---------- Previous post was at 23:01 ----------

The annoying thing is most shares are held by pension funds and they never attend the meetings, properly regulated remuneration committees are the way to go imo, then we wouldn't need to rely on revolts.

Re: UK to fight EU plan to cap bankers' bonuses
 

I reckon we need more Bank of Dave.

http://www.channel4.com/programmes/bank-of-dave

Re: UK to fight EU plan to cap bankers' bonuses
 

[QUOTE=Pierre;35542839]Get over yourself. I'm quite aware thank you. Are you aware how dependant this country is on the financial sector?



no i'm not could you be a little more patronising and explain it really simply so i will understand .

Re: UK to fight EU plan to cap bankers' bonuses
 

But it's more fun calling all bankers crooks because some were and ignoring the facts. Why not hand over control of and the profits/taxes derived from an essential industry to people in other coutries? While we're at it we'll also make sure that the state owned banks never prosper and have no chance of paying the money they owe the taxpayer back. I mean that wouldn't be chucking the baby out with the bathwater in any way would it? :rolleyes:

By most reasonable accounts I've heard, Stephen Hester is doing a good job trying to drag RBS out of the mire and GET OUR MONEY BACK but why not just treat him like a crook too and penalise him for what was allowed to happen?

Getting tough with the rules (which Labour should have done via the FSA and BBA but didn't) is great but it needs to be global. Taking back bonuses in respect of failures is fine (and is being done), but forcing banks to pay bigger up front salaries which can't be clawed back in the event of failure is utter nonsense.

I wonder how many of the football fans amongst our ranks would like to see their precious teams decimated by European remuneration caps which led to their best players going elsewhere in the world to earn more money.

Re: UK to fight EU plan to cap bankers' bonuses
 

Not against bonuses culture at all. Nothing in post said as such you picked comment twisted it. I am against obscene bonuses while dominions left out of the windfall. Pay structures also issue too osem.

Its rewards and pay structure which out of control and has been out of control for many years. In Corporations and Banking sector.

Surely if they rewarded for brilliant job should it not be all staff deserve the reward too.

So those losses wont be hit if we do fairer system. We may actually increase how much taxes banking sector paid if see fairer system of pay/rewards to all levels staff.

About time bonus culture is put under control and wage descrepencies to more realistic curve from cleaner to CEO.

Surely you would accept this would good thing for economy to get better playing field in wages/bonus to each level pay structure.

It not just CEO who worked hard its all his staff too sadly companies tend to forget that when huge wads bonuses are dished out.

On quip on football it would be best thing would happen might stop the game running billions debt. Have heared obscene wages messi rumered to been given £1m a week. Talented he is no-one worth that sort money. The game will go bust if dont get act together.

Re: UK to fight EU plan to cap bankers' bonuses