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Post by JohnP on Jan 31, 2012 19:11:07 GMT 1
Fred Goodwin the incompetent, greedy ex chief executive of RBS has been stripped of his knighthood. GREAT! now strip him of his obscene pension and then ask questions as to why this idiot was given a knighthood in the first place. More wheels within wheels.
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Post by Ali on Feb 1, 2012 16:40:27 GMT 1
Wasn't he given the knighthood by the Labour party then didn't they have to bail out the Bank that he ran?
'They' did halve his pension didn't 'they' - down to 350k.
Some of these salaries and bonuses etc are unimaginable!
There's been nothing but talk about it on the radio and news all day, fat good his dismembering will do to the recession though.
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Post by JohnP on Feb 1, 2012 18:40:51 GMT 1
Yes I think incapability Brown recommended Goodwin for his knighthood, What a pair of bankers! I thought Goodwin was still getting a £650,000, pension. I just hope there is a precedent being set which will see an end to these obscene salaries and bonuses. NOBODY is worth these amounts, it is a huge insult to the average working person who is conscientious, successful and has to take responsibility for their actions and decisions.
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Post by Ali on Feb 1, 2012 19:13:07 GMT 1
I'm not too sure about a retraction of obscene salaries coz if a country in Europe for example offered an obscene and the UK didn't the UK would surely loose very talented people to it's 'competitors' ?
If one somebody could turn things around so that the company/organisation could benefit hugely then I think that the somebody should be paid the dues, after-all the shareholders certainly will get their pay out.
I'd be happy in my little box as my brain couldn't do what some of these peoples brains do, they tick differently. But then again they probably couldn't do what we do could they either?
Loving this debate JP x
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Post by judith on Feb 1, 2012 20:56:18 GMT 1
I agree with Ali that we have to attract and hold onto talented people in this industry otherwise they will be head-hunted abroad with devastating results for our country. I used to think these people were greedy and driven by money, but I don't think it fair to call them "idiots" when most of us know very little about the culture of these enormous salaries and bonuses. We have all become experts on other people's business without knowing the full facts.
Our son's friend is a young high flying banker and works nearly 100 hours a week. He sleeps with his blackberry on the pillow and answers important e mails at 3 am. He is on a plane across the Atlantic most weeks. I am sure he will be burnt out by the time he is 40! I know it's his choice, but I can see how these people ARE worth their salaries, most of us wouldn't last a month.
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Post by JohnP on Feb 2, 2012 19:52:52 GMT 1
I am sure there are people within the banking industry who work hard and are competent at what they do. My problem lies with the people at the top. The banking crash caused huge and lasting damage to the whole European economy, hundreds of thousands of people have lost their jobs right across the spectrum and all this was caused in no small part by irresponsible lending and a raft of bad policy decisions and takeovers within the banking industry. The people at the top of these banks far from being held responsible for the massive billions of pounds lost as a result of crass mismanagement have walked away with golden handshakes worth millions. I have no problem with people being rewarded for success, but when they fail there should be a price to pay like in any other walk of life.
Reward people for getting it right, not as a matter of course. Paying huge obscene bonuses clearly does not get you the best people, it gets you the greediest.
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Post by judith on Feb 2, 2012 20:33:58 GMT 1
Interestingly, John P, and dare I say it, there are no women chief execs involved in any of this, in fact there are no women chief execs in the whole industry. The only female who appears to be getting it totally right for her country (and the Eurozone) is Angela Merkel! Maybe more of the people at the top should be of the fairer sex?  The results might well be different. Come on girls! |
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Post by Ali on Feb 2, 2012 20:37:33 GMT 1
Angela Merkel !! It's her influence that Sarky is using to put the TVA up in France to 21.3%.
This recession thing is across more than just Europe. I reckon, as said before, that the Chinese have all of the Western worlds money - on credit cards....
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Post by JohnP on Feb 2, 2012 21:20:13 GMT 1
Oh dear, let's not get drawn into the battle of the sexes. As there are no women in exec positions in the banking industry, there are no comparisons to be made but they certainly couldn't do any worse that's for sure.
I worked for two women bosses when I was in the bus industry. One was good at her job and had my respect although I was not keen on her, the other was the best boss I ever had by a long way. For me it is about the individual, nothing to do with being male or female.
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Post by Ali on Feb 9, 2012 9:53:07 GMT 1
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The results might well be different.