Greedy bankers.

[jimslip]

So this guy gets a job running an ailing bank, he gets a salary of ?1 million a year. His big idea is to sack 33,000 people and guess what? The balance sheet now looks better, so the cunt now gets another ?1 million as a bonus for his, "Efforts"

I reckon ANYONE on this forum could do what this tosser has done, with no training whatsoever!

[tuf766]

Its the New World Order in full swing, the only thing that will change anything Jim is if that asteroid hits next week.

[william]

The guy is doing a job - no one knows his personal circumastances as to the contractural obligations that were set when he was hired to do the job - and we have to face it he is doing a job.

RBS was in dire straights if the government had not stepped in - we all know that but most really dont appreciate just how much of a mess the country would have been left in if RBS did sink - it would have taken a whole lot with it.

The guy is facing criticism from the papers - run by people that thought nothing of hacking telephones - then we had the politicians debate and recommend, the very same ones that couldnt do an expense form correctly... The bank is a big part of the economy and it still features in the recovery of this country - we should be aware that business bods with the knowhow get large salaries and bonus payments feature in that.

In this case I hear that Hester has waived it so all those out there can breath easy......

[one eyed jack]

You notice the media love to wheel these ones out as a smoke screen to all the other shit going on...Namely the phone hacking.

The banks make a nice tidy sum on overdraft charges. How comes they aint got no money then?

I agree that things aren't as straightforward as they appear though but the media do love to stick things like this in and break it off dont they?

Oh look this is atrocious! Its disgusting....

So is phone hacking motherfucker!

[David Johnson]

I dont think anyone would deny that Hester is doing a responsible job.

But why does he require ?2 million a year to do it?

The simple fact is that as capitalism becomes more extreme, the gap between the rich and the rest gets bigger and bigger.

So for example in Barclays, the chief exec gets 75 times the average worker's salary. In 1980 it was about 14 times. Why the huge gap?

There is no justification for that increase and all of this talk about having to pay top dollar for top execs. is blarney. Hester has presided over tens of thousands of job losses, a halved share price and sold many of the key assets of the bank. No wonder RBS made a profit in the last financial year.

Hardly been a huge success has he?

[william]

Would have to be some pretty hefty overdrafts and such.....

Never really understand banking and finance - probably the average lay person is the same.

They had built money making off of the back of risky investments - sub prime was a time bomb if ever there was one again a yank inspired creation - loan money to those that are deemed risky and ramp up the interest then you get a sizable return bundle that in with some other debts and sell on to others that dont quite fully understand the implications. Its out your hands and you have been paid the others get some decent payback for a few years till the ballon burst and then they were left with debt that was not covered by the value of property and the owners walking away bankrupt.

Will be a while before our economy recovers and we will never see the likes of the banks being that size again.

[RoddersUK]

Phone hacking is nothing to what the banking system has done to the world. True, the intrusion into some families grief was inexcusable, and the invasion of privacy into the dismal affairs of some over paid celebs with over inflated egos was truly fuckall when compared to the natural disasters that have occured in the last 12 months.
Phone hacking? Blown out of all proportion.

[william]

The phone hacking thing blown out of proportion ?

Its indictive of the media hungry society that we live in and the fact that they knew no decency - it was wrong and out of order.

The expense fiddling ? indictive of the moral decline of MP's people that we voted in to look after our interests who once in systematically robbed the country and took away what was not thiers to do with in the first place -just because they could. Self serving and entirely corrupted individuals.

Im not supporting bankers at all - what I am saying is that the moral fabric of those that have been running them down is questionable and they have intensely short memories. The RBS guy getting a million pound bonus ? Look at the contract he has and see if he is indeed being denied something that he has a contractural right too....

Unlike the MPs who illegally fiddled the expenses or the journalists who broke the law by tapping phone lines and reading emails.

There is a significant difference in the events that does seperate them.

[Deuce Bigolo]

Bonuses for that type of work should never be given
but then would you get the best person for the job

Its easy to say any idiot could do it but maybe the best means another 5,000 got to keep their jobs while he let the share price slide.

To say the executive crowd are thieving cunts & heartless bastards is true enough over the past 3 decades but their not all as morally bankrupt as much as we think they are

[william]

They do a job mate do a job and it aint a bed of roses - so many outporings by couch economists and the fact is that hes trying to rebuild the bank - a bank that failed through the environment that it worked in collapsing - right or wrong it was still a victim of the slump that hit everywhere.