Comments on: Bankers’ bonuses: the fish stinks from the head http://blogs.reuters.com/great-debate-uk/2010/02/16/bankers-bonuses-the-fish-stinks-from-the-head/ Wed, 16 Nov 2016 01:37:11 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Benny Acosta http://blogs.reuters.com/great-debate-uk/2010/02/16/bankers-bonuses-the-fish-stinks-from-the-head/comment-page-1/#comment-10046 Sat, 20 Feb 2010 21:21:53 +0000 http://blogs.reuters.com/great-debate-uk/?p=5954#comment-10046 This is exactly the kind of thing that makes business stink.
Think about this for a moment. On the one hand corporations have the right to a voice in congress because they are recognized as people.

But on the other hand when they do something like cause the near collapse of the whole financial system, all of a sudden we need to think about who we punish. AIG, BOA, Merryl Lynch, etc… are citizens of the United States. And for banks not under US ownership there are associations that lobby on behalf of the industry.

Those “people” screwed up, and so it only makes sense that those “people” be treated as individuals in their entirety. Following the logic of this article’s argument is like saying that maybe I did steal from you, but that doesn’t mean my hands should pay the price. Prosecute my head instead. My hands are just skilled at picking things up and manipulating them under the direction of my head. Don’t throw me in jail. But it wasn’t my head it was my brain. So it’s my brain you need to put in jail. My head just takes in information. But wait! Don’t throw my brain in jail, it’s only part of my brain that’s responsible for making those choices etc…

Corporate personhood hides accountability. They should not have the right to voice opinions in government. Corporations do not deserve a lobby. Corporate citizenship must be struck down in the courts. As long as they are considered people, they can never truly be held accountable for their misdeeds. But their rights will continue to allow them to trample over the citizenry until those rights are revoked.

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By: Paul http://blogs.reuters.com/great-debate-uk/2010/02/16/bankers-bonuses-the-fish-stinks-from-the-head/comment-page-1/#comment-10021 Thu, 18 Feb 2010 16:16:08 +0000 http://blogs.reuters.com/great-debate-uk/?p=5954#comment-10021 What makes bankers expertise more important than the collective farmers?

Studying stealing ain’t no better than studying seeds so stop trying to squirm out of being labelled greedy you greedy lot.

And get learning about seeds. With all the sovereign collapses you’re about to cause, you will need that knowledge far more in the future.

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By: Steve Marshall http://blogs.reuters.com/great-debate-uk/2010/02/16/bankers-bonuses-the-fish-stinks-from-the-head/comment-page-1/#comment-10014 Thu, 18 Feb 2010 09:57:54 +0000 http://blogs.reuters.com/great-debate-uk/?p=5954#comment-10014 All countries need successful profit making businesses to generate wealth and employment. For our country having a regional sector dominance in an industry benefits not only the organisations themselves but also by means of bonuses benefits large numbers individuals who participate, according to how successful their particular group has been. The wealth created trickles down to the national economy, as do the taxes paid (though it must be admitted there is at present large-scale tax avoidance).
The sector has proved itself capable of maintaining huge margins through the recession, while manufacturing industries have suffered in countries like Germany and Japan. Recent job losses have shown that failure to perform is NOT rewarded, indeed these individuals may never find employment again. So if the Somali government does not take a firm stand against international attempts to impose international regulation on collateralised hostage swaps, we may find that we lose these talented individuals to Yemen or Djibouti. Piracy is after all an international business.

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By: scoops http://blogs.reuters.com/great-debate-uk/2010/02/16/bankers-bonuses-the-fish-stinks-from-the-head/comment-page-1/#comment-10006 Wed, 17 Feb 2010 12:37:58 +0000 http://blogs.reuters.com/great-debate-uk/?p=5954#comment-10006 Indeed they can and do get fired, but if you go to a casino (which is what the city is) and play say, roulette for a friend (‘cos your a roulette ace ) using their money which you get 10% percent of the winnings, you may win £1,000,000 on the first few spins, trousering £100,000 each time decide it’s all going rather well, whack the whole lot on and lose. After all what do you care you’ve trousered £500,000 and lost all your friends money. That’s how it works, except traders don’t have any friends :)

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By: L Marston http://blogs.reuters.com/great-debate-uk/2010/02/16/bankers-bonuses-the-fish-stinks-from-the-head/comment-page-1/#comment-10000 Tue, 16 Feb 2010 20:20:24 +0000 http://blogs.reuters.com/great-debate-uk/?p=5954#comment-10000 banks, they stink from top to bottom.Our politicians are exactly the same is this why the banks were bailed out ? Which other business would have received the same level of rescue ? answer nil
The only sure fire way to restrict the outrageous payments made to these individuals is to dismantle the large banks ensure more competition and ensure we have strict and accountable financial practises in place.At the moment i believe along with many others we are simply storing up the next crash in years to come as clearly the banks have learned nothing,why should they within months of the mess thbey created they are back to the same old ways. weak useles FSA and others

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By: C http://blogs.reuters.com/great-debate-uk/2010/02/16/bankers-bonuses-the-fish-stinks-from-the-head/comment-page-1/#comment-9999 Tue, 16 Feb 2010 18:34:16 +0000 http://blogs.reuters.com/great-debate-uk/?p=5954#comment-9999 And there’s me thinking you simply got some taypayer money and told never mind – just try again – you’ll have better luck next time…! Oh yes and you’ll get an even bigger bonus next year…

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By: Steve http://blogs.reuters.com/great-debate-uk/2010/02/16/bankers-bonuses-the-fish-stinks-from-the-head/comment-page-1/#comment-9998 Tue, 16 Feb 2010 17:09:45 +0000 http://blogs.reuters.com/great-debate-uk/?p=5954#comment-9998 If I were UK PLC I’d simply withdraw passport from ALL bank personnel on over £20,000/yr, freeze wages, NO bonuses and no ability to move job. They are all in open prison, work to repay the debt they owe with interest @ 15% like everybody else has to pay until they have repaid in full.

Any slackers who take sickies don’t get paid unless they are genuinely ill.

Bank base rate at CPI+2%, savers to be rewarded…

Abolish tax on savings interest for anybody on less than £100,000/yr, they don’t earn enough to make any worthwhile interest.

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By: Andrew http://blogs.reuters.com/great-debate-uk/2010/02/16/bankers-bonuses-the-fish-stinks-from-the-head/comment-page-1/#comment-9997 Tue, 16 Feb 2010 16:54:07 +0000 http://blogs.reuters.com/great-debate-uk/?p=5954#comment-9997 Prof Copeland is absolutely correct in his analysis in my view. If the managers over the traders are not able to profit from risky bet taking they will put limits in place to prevent it. This will reduce the risk to the tax payer and ultimately also reduce bonus payments to the traders who are unable to make huge profits (or losses).

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By: K Butler http://blogs.reuters.com/great-debate-uk/2010/02/16/bankers-bonuses-the-fish-stinks-from-the-head/comment-page-1/#comment-9995 Tue, 16 Feb 2010 16:30:01 +0000 http://blogs.reuters.com/great-debate-uk/?p=5954#comment-9995 The most clear cut analysis and sensible recommendations I have seen.Pick up the phone Alistair!!!!

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By: Dealer http://blogs.reuters.com/great-debate-uk/2010/02/16/bankers-bonuses-the-fish-stinks-from-the-head/comment-page-1/#comment-9991 Tue, 16 Feb 2010 15:24:01 +0000 http://blogs.reuters.com/great-debate-uk/?p=5954#comment-9991 If a trader loses the bank huge sums, they get fired or get no bono! They don’t pay traders who make huge losses get that straight – it’s hire ’em and fire ’em. I have witnessed it first hand!

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