Bankers bonuses - Osborne Stands Alone

[geared]

Being a member of the public one can sit on both sides of the fence and still feel like they are always right.

 

Such is the nature of the British public.

[big_g]

Their earnings will be out in the open though, available for all to see. The next logical stage would be to control base salaries if banks continued to misbehave.

 

Imagine that salaries were capped at £250k, almost twice what the PM earns. There would be no shortage of talented individuals happy to take jobs in banking on those terms. There's no need to pay an irresponsible risk-taking, semi-criminal imbecile £1m to do the job.

 

But unfortunately, they know that they can get ten times that amount elsewhere. If the banks aren't able to pay a salary that is competitive with banking salaries in other countries - that bank will move that part of the business overseas - probably to Hong Kong or maybe the US.

 

We've got to remember that banking can be run from anywhere in the world. If a bank can't keep hold of the people that invest their money - they will have to move elsewhere.

 

Some countries will be rubbing their hands together in eager anticipation of this bill going through. If it does, it won't be long before the bigger banks relocate overseas and, those that don't, get taken over by overseas banks.

 

Finance companies probably bring the most money into this country - if that leaves the country then we're in for a really rough time.

[El Cid]

 

Finance companies probably bring the most money into this country - if that leaves the country then we're in for a really rough time.

 

What, you mean that people will need to earn their own way in life? Doesnt sound that hard; maybe we wont be able to afford things like HS2 and Trident.

[TJC1]

Osbornes a weasel and a phony.

 

Claims he wants to regulate banks then goes against common sense on a 26-1 vote in the eu.

 

A restructuring of the banking system and a re-focus away from finance as our main industry would be good for the economy.

 

If the bankers want to leave so be it.

[L00b]

Claims he wants to regulate banks then goes against common sense on a 26-1 vote in the eu.

I'm yet to be convinced by the guy, but in fairness have you checked what he's voted against?

 

Re. "common sense", is what's been put on the table by Brussels and to be voted on, what's best for the UK in terms of banking regulations?

 

Don't forget the realpolitik angle. You probably know just as well as most on here who's behind things put on the table by Brussels 99% of the time, especially nowadays: France and Germany.

 

Newsflash: at any given time, in Paris, Berlin or Brussels, these guys are always batting for the home team - just like the London guys.

[Manlinose]

at the risk of putting a bit of perspective on this, according to a report in the times the other day, the bonus can be up to double the employee's salary if the bank's shareholders agree, it doesn't include hedge funds and private equity firms, and there will be concessions for bonuses deferred for 5 years

 

in addition, it was estimated that "fewer than 5,000 people in the City out of a workforce of 300,000 would even be covered by the new rules, let alone disadvantaged by them."

 

he also suggested that the risk of all these bankers upping sticks and moving to the USA or the far east is over exaggerated "Most senior bankers are not about to flee to Hong Kong or New York. Family ties, children’s schooling and other factors will keep them here. Remaining in the same time zone and within lunching reach of their (mostly European) clients means that they have no choice anyway."

 

sorry if that disappoints

[TJC1]

I'm yet to be convinced by the guy, but in fairness have you checked what he's voted against?

 

Re. "common sense", is what's been put on the table by Brussels and to be voted on, what's best for the UK in terms of banking regulations?

 

Don't forget the realpolitik angle. You probably know just as well as most on here who's behind things put on the table by Brussels 99% of the time, especially nowadays: France and Germany.

 

Newsflash: at any given time, in Paris, Berlin or Brussels, these guys are always batting for the home team - just like the London guys.

 

I don't think Osborne has the UK masses at heart.

The circles he moves in are millionaires circles, some of his best pals are bankers or work in investment.

He'll do anything to protect that agenda, while at the same time paying lip service to regulation.

Hence why I called him a weasel.

 

---------- Post added 06-03-2013 at 13:08 ----------

 

And I say 'best pals' not just in a friendly sense, if you know what I mean. I'd like to see the list of tory doners and what goes on behind the scenes - that would be interesting.

[L00b]

I don't think Osborne has the UK masses at heart.

<rant>

You can character-assassinate Osbourne to your heart's content TJC1, I don't particularly care one way or the other and I certainly won't engage on that.

 

The exact same kind of rants were heard when Cameron vetoed a couple of Brussels proposals last year, turns out they were masterstrokes in the best interest of HMS UK and all aboard it, and he eventually (and justly) got praise from all sides about them: I'm just calling for a bit of informed objectivity, rather than the usual and fast-getting-boring political mud-slinging, is all

[TJC1]

You can character-assassinate Osbourne to your heart's content TJC1, I don't particularly care one way or the other and I certainly won't engage on that.

 

The exact same kind of rants were heard when Cameron vetoed a couple of Brussels proposals last year, turns out they were masterstrokes in the best interest of HMS UK and all aboard it, and he eventually (and justly) got praise from all sides about them: I'm just calling for a bit of informed objectivity, rather than the usual and fast-getting-boring political mud-slinging, is all

 

Listen, even a broken clocks right twice a day.

 

I'm objective as it happens, I don't particularly support or vote for either side. I just look at the facts and come to a conclusion.

[L00b]

I'm objective as it happens, I don't particularly support or vote for either side. I just look at the facts and come to a conclusion.

You may claim that, but...

Listen, even a broken clocks right twice a day.

...that's not being objective in the least.

 

The Cameron vetoes were predicted to be in the best interest of the country well before he used them. The opposition was giving him no end of stick about them on the run up to the votes, and straight after all over the headlines. Much humble pie eaten very quietly thereafter by Milliband and Co.

 

I'm waiting to see exactly what was on the table which Osbourne was the only one to can, then find out for myself why he canned it. That will tell me whether it was wise to vote against or, as you now claim in apparent ignorance of the facts, self-interested (and therefore reprehensible indeed).