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[Varche]

They will probably be subject to some blanket windfall tax but to my mind this is more government official incompetence like we had with Sir Fred ex RBS boss and his pension.

 In the banks case they should have had strings attached to lending them our billions. So my vote goes for sacking some useless Whitehall officials. Of course it won't happen

Varche

[albitz]

If the bright ones at RBS dont get paid what they know their market value is they will go to work for other banks so it will be harder for us to get our billions back from the profits.
If gormless had his way and put tight limits on all bonuses in London,the talented people in London would move to New York/Hong Kong/Moscow etc,so the country would lose the best talent from the only industry which has made the country any serious money in the last 20 years.
Which is why Gormless tried to get his ideas implemented globally.unfortunately for him the other countries concerned saw how dumb his idea was and laughed at him.
I think we have discussed this once or twicw before.

[HolyCount]

If the bright ones at RBS dont get paid what they know their market value is they will go to work for other banks so it will be harder for us to get our billions back from the profits.
If gormless had his way and put tight limits on all bonuses in London,the talented people in London would move to New York/Hong Kong/Moscow etc,so the country would lose the best talent from the only industry which has made the country any serious money in the last 20 years.
Which is why Gormless tried to get his ideas implemented globally.unfortunately for him the other countries concerned saw how dumb his idea was and laughed at him.
I think we have discussed this once or twicw before.

"Talented" It's their "talent" that stirred all the sh1t in the first place.

[albitz]

Nope,when wall st. sneezed,London caught a cold,thats how it works.Its all about confidence.The fact is that the boom that we have all enjoyed for the last decade has been purely due to the money being made in the city,which allowed a lot of cheap borrowing.Gormless telling everyone that it would last for ever as he had abolished boom and bust is what caused people to borrow money they couldnt afford to pay back. He also used his influence to lean on people in the banks to keep lending in such a manner even though many of them had reservations about it.
It was always going to happen,it was just a matter of when,and how bad it would be,but when it did happen it was his handling of the economy which made it a lot worse in this country than almost every other country.
He said we would be the first out of recession,fact is most other countries are now out of recession but we are still in it up to our necks.
Anyone who doubts that it takes talent to make millions in profit for an financial institution should go and try it,if it was that easy we would all be doing it.

[Field Marshal Dr. Opti]

If the bright ones at RBS dont get paid what they know their market value is they will go to work for other banks so it will be harder for us to get our billions back from the profits.
If gormless had his way and put tight limits on all bonuses in London,the talented people in London would move to New York/Hong Kong/Moscow etc,so the country would lose the best talent from the only industry which has made the country any serious money in the last 20 years.
Which is why Gormless tried to get his ideas implemented globally.unfortunately for him the other countries concerned saw how dumb his idea was and laughed at him.
I think we have discussed this once or twicw before.

"Talented" It's their "talent" that stirred all the sh1t in the first place.

Totally agree.....I'am against the death penalty.......but I believe that an exception should be made for greedy ...incompetent .....inept bankers.
Liberal Domocrat Vince Cable has said.."let them walk".......and I agree .The Taxpayer (that is you and I) should not be held to ransom by these parasites.
There are plenty of "properly talented"people to take their place.
Bankers need to join the real world.

[albitz]

you really dont have the slightest clue what you are talking about optimist. Politics of envy coupled with absolutely no knowledge of the subject whatsoever.

[STMO999]

I was going to log off, but if there's going to be unpleasantness.....................

[HolyCount]

I agree that it takes talent to make millions ---- but also feel that greed did get the better of many --- high risk equals the potential for high return ---- but when it went t*ts up we all started to pay for it except the bankers.  In this credit crunch economy ( of whatever making) most of us are facing nil or even negative pay agreements this year, mass job losses..... yet the bankers get mucho grande bonus payments!!! 

Yes, it was all handled badly by the govt. but the banks are hardly blameless.

I will allso freely admit to knowing b. all about the subject --- doesn't alter my gut feelings though!

[Field Marshal Dr. Opti]

Nope,when wall st. sneezed,London caught a cold,thats how it works.Its all about confidence.The fact is that the boom that we have all enjoyed for the last decade has been purely due to the money being made in the city,which allowed a lot of cheap borrowing.Gormless telling everyone that it would last for ever as he had abolished boom and bust is what caused people to borrow money they couldnt afford to pay back. He also used his influence to lean on people in the banks to keep lending in such a manner even though many of them had reservations about it.
It was always going to happen,it was just a matter of when,and how bad it would be,but when it did happen it was his handling of the economy which made it a lot worse in this country than almost every other country.
He said we would be the first out of recession,fact is most other countries are now out of recession but we are still in it up to our necks.
Anyone who doubts that it takes talent to make millions in profit for an financial institution should go and try it,if it was that easy we would all be doing it.

I simply don't accept your premise that these guys are "talented" Albitz.....
Why have these so called "talented individuals"had to rely on the members of the general public....cooks ...cleaners...shop workers ...labourers ....etc etc....to help get them out of the sh#t.
The are and always have been a "talentless" bunch.
Do you wear red braces ....by any chance.

[p j morgan]

why should they get what they want ? they get paid hundred k or more a year for doing a job they applied for !they say they will go and work for another bank .how can they there is not any jobs out there !they  :-/ :-/need to get off their high horses and come down to the real world .they don't have to worry about where thier next mortgage paynents coming from or the gas or lecy bill .brown is a coward and dare not say boo to anyone .what a laugh

[albitz]

I agree that it takes talent to make millions ---- but also feel that greed did get the better of many --- high risk equals the potential for high return ---- but when it went t*ts up we all started to pay for it except the bankers.  In this credit crunch economy ( of whatever making) most of us are facing nil or even negative pay agreements this year, mass job losses..... yet the bankers get mucho grande bonus payments!!! 

Yes, it was all handled badly by the govt. but the banks are hardly blameless.

I will allso freely admit to knowing b. all about the subject --- doesn't alter my gut feelings though!

A lot of truth in what you say HC, but the banking industry has paid very heavily indeed,tens of thousands of people have lost their jobs,bonuses are much lower (unless you read the mirror)and everyone is nervous about their future.
I was having a meal at canary wharf a few weeks ago and it was noticable that there were far fewer people around than there was a couple of years ago,the hustle and bustle seemed to have disappeared,and several of the shops and restaurants had closed,due to a lack of business.I was quiet surprised at how obvious the effect of the credit crunch was tbh.

[albitz]

Nope,when wall st. sneezed,London caught a cold,thats how it works.Its all about confidence.The fact is that the boom that we have all enjoyed for the last decade has been purely due to the money being made in the city,which allowed a lot of cheap borrowing.Gormless telling everyone that it would last for ever as he had abolished boom and bust is what caused people to borrow money they couldnt afford to pay back. He also used his influence to lean on people in the banks to keep lending in such a manner even though many of them had reservations about it.
It was always going to happen,it was just a matter of when,and how bad it would be,but when it did happen it was his handling of the economy which made it a lot worse in this country than almost every other country.
He said we would be the first out of recession,fact is most other countries are now out of recession but we are still in it up to our necks.
Anyone who doubts that it takes talent to make millions in profit for an financial institution should go and try it,if it was that easy we would all be doing it.

I simply don't accept your premise that these guys are "talented" Albitz.....
Why have these so called "talented individuals"had to rely on the members of the general public....cooks ...cleaners...shop workers ...labourers ....etc etc....to help get them out of the sh#t.
The are and always have been a "talentless" bunch.
Do you wear red braces ....by any chance.

May I refer you to my answer to your previous post.

[Varche]

The talented few seem to also have short memories. It was only a year or so ago that they were all suicidal as their banks (and their fat cat jobs) were going to go under after almost unrestricted lending. Even I could make loads of money doing that if I was confident that when the bubble burst the government would step in and ring fence my bad debts.

The French don't seem to be suffering very much. Their banks lent wisely so their talent could keep on making billions behind closed doors.

V

[albitz]

why should they get what they want ? they get paid hundred k or more a year for doing a job they applied for !they say they will go and work for another bank .how can they there is not any jobs out there !they  :-/ :-/need to get off their high horses and come down to the real world .they don't have to worry about where thier next mortgage paynents coming from or the gas or lecy bill .brown is a coward and dare not say boo to anyone .what a laugh

If they have a good reputation they will walk into another job.A bank will simply elbow someone with a not so good reputation to make room for them.Its dog eat dog,levels of pressure and stress that most of us couldnt contemplate.which is why 3 young traders in their 20,s in the last 3 or 4 years ,have gone to the top of the building they worked at and threw themselves off.

[albitz]

The talented few seem to also have short memories. It was only a year or so ago that they were all suicidal as their banks (and their fat cat jobs) were going to go under after almost unrestricted lending. Even I could make loads of money doing that if I was confident that when the bubble burst the government would step in and ring fence my bad debts.

The French don't seem to be suffering very much. Their banks lent wisely so their talent could keep on making billions behind closed doors.

V

Most of the banks in London are still making decent profits and havent taken any money from the taxpayer.its only 3 or 4 who have iirc.
Also,the French economy doesnt rely on the finance sector like ours does,they still have a good manufacturing base - cars for example.Finance is responsible for over 20% of the UK economy.