tag:blogger.com,1999:blog-2948538160252327076.post8227235044707213979..comments2023-11-02T15:48:50.381+00:00Comments on UK Bubble UK Economy: Lloyds staff will get their bonusesAlice Cookhttp://www.blogger.com/profile/05753570123987780947noreply@blogger.comBlogger14125tag:blogger.com,1999:blog-2948538160252327076.post-37856748949676387042008-10-25T06:24:00.000+01:002008-10-25T06:24:00.000+01:00taxpayers paying for multi-million pound bonuses. ...taxpayers paying for multi-million pound bonuses. We deserve everything we get....Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-74044091072149534042008-10-23T15:11:00.000+01:002008-10-23T15:11:00.000+01:00"...it was inevitable that banks would be run prim...<I>"...it was inevitable that banks would be run primarily in the interests of the employees, and that means paying out huge unmerited bonuses. </I><BR/><BR/>Too true.<BR/><BR/><A HREF="http://news.bbc.co.uk/1/hi/england/tyne/7685151.stm" REL="nofollow">Northern Rock staff could be in line for bonuses of up to 60% of their annual salary over the next few years</A><BR/><BR/>The BBC go on to say... <I>"The Newcastle-based bank confirmed there was a company-wide incentive to reward staff if targets in paying back a £26 billion Government loan were met."</I><BR/><BR/>What!!<BR/><BR/>While its good news that the taxpayer's get their money back; the loan saved the bank and its worker's jobs (well most of them). Surely that is reward enough?<BR/><BR/>I'm more than a little shocked and who the hell is paying for this?John Pickworthhttps://www.blogger.com/profile/02166443099429490782noreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-13181862164543038602008-10-23T05:57:00.000+01:002008-10-23T05:57:00.000+01:00Perhaps there is room for a bank that takes no ris...Perhaps there is room for a bank that takes no risks,just receives peoples wages and makes them available for a small fee to cover their costs no overdraft,no loans or mortgages.No chance of failure 100% safe.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-33155754753910153542008-10-23T00:24:00.000+01:002008-10-23T00:24:00.000+01:00100% correct on your two points. Employees robbed ...100% correct on your two points. Employees robbed the shareholders, shareholders let their greed blind them to the fact.Rhttps://www.blogger.com/profile/02294852146462286329noreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-34434889807791599002008-10-22T13:03:00.000+01:002008-10-22T13:03:00.000+01:00I agree wholeheartedly, Alice. "..if it wasn't fo...I agree wholeheartedly, Alice. "..if it wasn't for their essential role in the payments system, [they] should now be in receivership": quite; but if that is the only good reason to "save" them, there must be a cheaper way. Perhaps Mr Wadsworth's?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-59488482977095119252008-10-22T10:58:00.000+01:002008-10-22T10:58:00.000+01:00Interesting thing is this:If bonuses were really p...Interesting thing is this:<BR/><BR/>If bonuses were really performance related, then you'd expect the total annual bonus bill to be a certain percent of wages or turnover, regardless of the actual direction of the market - after all, a bonus should depend on beating the market. If (to simplify) you make 20% in a market that has risen 20%, you shouldn't recieve a penny in bonus because you haven't done anything to deserve it - but if you make 5% in a market that has dropped 5%, you can at least claim to have out performed the market (either by luck or judgement). The fact that bonuses don't seem to be paid like this shows that they are not really performance related.<BR/><BR/>The really hilarious thing is the constant carping that 'If you stop the bonuses, the staff will all leave and go overseas'. These would be the same staff that have just traded the banks into insolvency by wildly mispricing credit, amongst other things. Let them go and wreck someone else's economy!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-50949591710582291292008-10-22T08:47:00.000+01:002008-10-22T08:47:00.000+01:00anyone know if this "bailout" has actually gone ah...anyone know if this "bailout" has actually gone ahead? Or is it like the brilliant "rescue" of HBOS by LTSB?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-82275525464282126622008-10-22T05:15:00.000+01:002008-10-22T05:15:00.000+01:00Dont' forget the boards of directors who let all o...Dont' forget the boards of directors who let all of this happen. It's a farce.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-20938663469026811922008-10-22T00:02:00.000+01:002008-10-22T00:02:00.000+01:00Alice,It's even worse when one considers that arou...Alice,<BR/><BR/>It's even worse when one considers that around half of bank fees are the result of inflation. <BR/><BR/>Banks place a toll on inflation, keep a piece for themselves and get out of dodge leaving everyone else holding the bag. <BR/><BR/>What a sham.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-47145013269922489922008-10-21T23:07:00.000+01:002008-10-21T23:07:00.000+01:00I'd take Brown more seriously if it wasn't for his...I'd take Brown more seriously if it wasn't for his determination to reward the entire public sector every time they fail too.Nick von Miseshttps://www.blogger.com/profile/03985951853422897135noreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-2156388701919459032008-10-21T22:43:00.000+01:002008-10-21T22:43:00.000+01:00I think the phrase is "lie back and think of Engla...I think the phrase is "lie back and think of England"Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-10846862148663467422008-10-21T19:55:00.000+01:002008-10-21T19:55:00.000+01:00I don't think Lloyds was one of the worst. I thou...I don't think Lloyds was one of the worst. I thought they were in good shape.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-45013823772296996342008-10-21T19:53:00.000+01:002008-10-21T19:53:00.000+01:00These bonuses are just outrageous.These bonuses are just outrageous.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-37266439557689646342008-10-21T19:44:00.000+01:002008-10-21T19:44:00.000+01:00Will be interesting to see how much they pay out i...Will be interesting to see how much they pay out in bonuses and how brown reacts to the taxpayers "bailout" used to reward bank employees.Anonymousnoreply@blogger.com