Comments on: Banks score own goal with bonus culture defence http://blogs.reuters.com/uknews/2009/08/04/banks-score-own-goal-with-bonus-culture-defence/ Insights from the UK and beyond Tue, 15 Nov 2016 20:30:03 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Andrew Manson http://blogs.reuters.com/uknews/2009/08/04/banks-score-own-goal-with-bonus-culture-defence/comment-page-1/#comment-11836 Wed, 07 Oct 2009 17:57:38 +0000 http://blogs.reuters.com/uknews/?p=3620#comment-11836 The banking sectors inability to communicate with the public to justify their bonus culture speaks volumes – they simply don’t feel obliged to. They operate in a parallel world with limited ethical component. And by virtue of their inflated salaries, their own lives are wholly insulated from the outcomes their personal and professional ‘motives’ reeks on everyday people. It is never their own money they lose. And without this sense of personal risk how can they even begin to connect with the public, yet we are asked, and more often obliged, to trust them with our savings.

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By: Paul http://blogs.reuters.com/uknews/2009/08/04/banks-score-own-goal-with-bonus-culture-defence/comment-page-1/#comment-10218 Sat, 08 Aug 2009 05:55:37 +0000 http://blogs.reuters.com/uknews/?p=3620#comment-10218 I blame the CHAV’s if they hadnt been given mortgages in the first place that they couldnt repay we would all be ok. Down with the lazy CHAV’s that’s what I say.

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By: nick http://blogs.reuters.com/uknews/2009/08/04/banks-score-own-goal-with-bonus-culture-defence/comment-page-1/#comment-10139 Tue, 04 Aug 2009 17:59:57 +0000 http://blogs.reuters.com/uknews/?p=3620#comment-10139 Higher earnings means less redunancies, the government getting its money back more quickly and…… more tax paid by the bank, and those receiving bonuses. Exactly what the government wants (but more importantly what it desperately needs) which is why it is coming up with empty rhetoric and smokescreen bluster.

If you want to blame anyone, blame the fat Scottish bloke who was CHANCELLOR for 10 years before he became PRIME MINISTER and happily presided over this mess before hastily blaming someone else.

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By: Steve Marshall http://blogs.reuters.com/uknews/2009/08/04/banks-score-own-goal-with-bonus-culture-defence/comment-page-1/#comment-10134 Tue, 04 Aug 2009 14:50:29 +0000 http://blogs.reuters.com/uknews/?p=3620#comment-10134 This business of attracting banking ‘talent’ seems to be universally accepted by journalists, but seems to have no basis in fact. If Fred Goodwin had been more talented could he have lost £400bn instead? What would a star goalkeeper who threw the ball in the back of his own goal 200bn times be worth?

When Mr Gulliver says that if a foreign exchange trader makes a £5m profit then they know two days later how much they made, he is avoiding the uncomfortable fact that as the banks are betting against each other, more than half of them are losing each year (allowing for costs). They get to massage their own figures to show they’re all in the top quartile, but who is still being fooled by this?

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By: Ian Kemmish http://blogs.reuters.com/uknews/2009/08/04/banks-score-own-goal-with-bonus-culture-defence/comment-page-1/#comment-10130 Tue, 04 Aug 2009 11:09:53 +0000 http://blogs.reuters.com/uknews/?p=3620#comment-10130 There appear to be two possible explanations for the size of the profits:

1) the journalists and bloggers were guilty of over-egging the pudding when predicting the imminent demise of capitalism. Since the hostility towards large bonuses was always predicated on this analysis being correct, there clearly isn’t (and never was) a problem with the way in which bonuses are calculated;

2) the journalists and bloggers were quite correct. In this case the bankers must have done a superlative job of preserving their businesses and are in addition returning money to the wider economy through shareholder dividends. I’d say in this situation they’d certainly have earned their bonuses.

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By: Greg Carlow http://blogs.reuters.com/uknews/2009/08/04/banks-score-own-goal-with-bonus-culture-defence/comment-page-1/#comment-10129 Tue, 04 Aug 2009 10:34:31 +0000 http://blogs.reuters.com/uknews/?p=3620#comment-10129 If UK companies do not pay the bonuses then non-UK institutions will and that is where the business will go. I think making shareholders act as owners is cloud cuckoo land as the investors will lack the management expertise.

I believe Banks should return to totally safe businessses like clearing. Investment/Capital/Venture/Hedge activities should not be permitted, they should be done by companies the do not have Bank in their title and they will not be able to carry out Bank activities. Then if they get it wrong they go bust without interferring with paying bills and wages etc. which the Banks will do

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By: Clive Sinclair http://blogs.reuters.com/uknews/2009/08/04/banks-score-own-goal-with-bonus-culture-defence/comment-page-1/#comment-10128 Tue, 04 Aug 2009 10:25:04 +0000 http://blogs.reuters.com/uknews/?p=3620#comment-10128 So, a big salary and bonuses assure the very best people working for you? And what happened with the bonuses before the credit collapse? I take it staff didn’t get bonuses then – after all they didn’t do a very good job? So basically the banks are admitting to employing people that were/are rubbish at their jobs, yet pay them huge bonuses?

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By: mm http://blogs.reuters.com/uknews/2009/08/04/banks-score-own-goal-with-bonus-culture-defence/comment-page-1/#comment-10125 Tue, 04 Aug 2009 08:45:51 +0000 http://blogs.reuters.com/uknews/?p=3620#comment-10125 yes, of course it’s right. there’s only one reason people go into banking, and only one reason banks exist… to make money. if banks do make profits, where else is the money going to go but to the staff and the shareholders?? plenty ends up back in the tax take anyway so everyone is a winner.

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By: John Taynton http://blogs.reuters.com/uknews/2009/08/04/banks-score-own-goal-with-bonus-culture-defence/comment-page-1/#comment-10124 Tue, 04 Aug 2009 07:15:27 +0000 http://blogs.reuters.com/uknews/?p=3620#comment-10124 They just don’t get it, do they?
The banks – all of them – caused the problem and they think they can go back to their bad old ways because they are now doing well.
Well, they have to think about the businesses and individuals still struggling because of their irresponsibility.
Unless and until the economy recovers – no bonuses

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