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[Banjax]

tough talking, no nonsense from David Cameron in '09

http://www.conservatives.com/News/News_stories/2009/02/No_bank_bonuses_over_2000.aspx

David Cameron has stressed that no cash bonuses over £2,000 should be paid to any employee of a bank which has a significant taxpayer shareholding.
In an interview on the BBC Politics Show, David said, “People who work hard are seeing billions of pounds of their tax money being paid out and are rightly angry about it.”
And he attacked Gordon Brown for failing to put conditions in place to limit the bonuses paid by those banks that have taken taxpayers’ money - RBS, Lloyds, B&B and Northern Rock.
“Unfortunately the only action the Government has taken is to announce a review into bonuses which will not report until the end of the year.  Because of this dithering we could see bonuses being paid out for a second year to executives in taxpayer owned banks which is unacceptable.”
Putting the limit at £2,000 would mean bank tellers are not unfairly punished.

and what actually happened:

http://www.bbc.co.uk/news/uk-politics-12159898
Downing Street has denied that the government has "thrown in the towel" in attempts to curb banker bonuses.

The spokesman said discussions were continuing between the Treasury and the banks about issues including getting a commitment to lend more money.

Earlier Deputy Prime Minister Nick Clegg urged banks to be "sensitive to the public mood" and denied the government was "powerless" to act.






can you spot the difference?



yes, get Nick to explain the climbdown so you cant show DC saying one thing to get power and then another once elected.............brilliant - its like when they promised a new political landscape of co-operation, instead of just one party lying to us, now its two!! 

[Varche]

Can't argue with that.

It is a two tier society.

Those that create ruination and

Those that have to pay for it.

[Dishevelled Den]

And the dog said to the scorpion, "Why did you sting me?  We are in the midst of this fast flowing river, I thought that by cooperating with each other we could have reached the safety of the other side, now it seems that we will both be drowned".

The scorpion replied, "I'm sorry my friend I cannot help it, it is in my nature".

[albitz]

Politicians tell lies, thats a shock revelation.


Dont forget that although Liebore are currently trying to make political capital from this situation, they were in Govt. until less than a year ago and also did nothing about it. Why? because they cant and they (the parties) know it, but they couldnt possibly admit that.

Has anyone on here ever encountered an employer, anywhere which pays its employees more than it actually has to ?
Its called market forces.

[Banjax]

Politicians tell lies, thats a shock revelation.

true, my next thread is a piece on the defecation habits of indigineous ursidae in natural arboretum habitats 

[albitz]

Followed by the headwear favoured by Pontiffs.

[albitz]

True story here. In 2002, the top trader in London for a large U.S. bank went into his annual review meeting to discuss his bonus.
It was explained to him that post 9/11 things were very uncertain, markets were nervous, unpredictable etc. and that unfortunately this year at least his bonus would have to be just under£1,000,000.
He told them to shove it up their arris, he wasnt going to work for them to be paid such an insulting amount of money.
He cleared his desk, walked out and got a taxi from the Wharf to Heathrow and got on  plane to his home town of Chicago.
He set up his own trading house in Chicago and made himself $45,000,000 in the first year.
Its a different world to the one we inhabit, but it(and the ludicrous levels of borrowing) is what has enabled the treasury to spend countless billions on the Govts. pet projects all through the New Liebore era. They werent complaining about the situation then, they were encouraging it in every way they could think off.

[Banjax]

True story here. In 2002, the top trader in London for a large U.S. bank went into his annual review meeting to discuss his bonus.
It was explained to him that post 9/11 things were very uncertain, markets were nervous, unpredictable etc. and that unfortunately this year at least his bonus would have to be just under£1,000,000.
He told them to shove it up their arris, he wasnt going to work for them to be paid such an insulting amount of money.
He cleared his desk, walked out and got a taxi from the Wharf to Heathrow and got on  plane to his home town of Chicago.
He set up his own trading house in Chicago and made himself $45,000,000 in the first year.
Its a different world to the one we inhabit, but it(and the ludicrous levels of borrowing) is what has enabled the treasury to spend countless billions on the Govts. pet projects all through the New Liebore era. They werent complaining about the situation then, they were encouraging it in every way they could think off.

true Albs, i cant imagine ever being insulted if someone offered me an extra £1m just for doing a job i already get paid for tho, but fair enough if you're making the bank a shedload of money - what if you cost the bank a shedload tho? does the risk go the other way ie you fork out a percentage of your loss? thought not 

i say piss off the bankers, see how many leave, how many take their kids out of schools, sell up and move to hong kong, singapore, ny...my guess is very few - theres a reason time starts on the greenwich line - we're the centre of the universe why would you wish to live anywhere else? name one country you'd rather live in - i'll give you 20 reasons why you wouldn't 

[Nickbat]

True story here. In 2002, the top trader in London for a large U.S. bank went into his annual review meeting to discuss his bonus.
It was explained to him that post 9/11 things were very uncertain, markets were nervous, unpredictable etc. and that unfortunately this year at least his bonus would have to be just under£1,000,000.
He told them to shove it up their arris, he wasnt going to work for them to be paid such an insulting amount of money.
He cleared his desk, walked out and got a taxi from the Wharf to Heathrow and got on  plane to his home town of Chicago.
He set up his own trading house in Chicago and made himself $45,000,000 in the first year.
Its a different world to the one we inhabit, but it(and the ludicrous levels of borrowing) is what has enabled the treasury to spend countless billions on the Govts. pet projects all through the New Liebore era. They werent complaining about the situation then, they were encouraging it in every way they could think off.

true Albs, i cant imagine ever being insulted if someone offered me an extra £1m just for doing a job i already get paid for tho, but fair enough if you're making the bank a shedload of money - what if you cost the bank a shedload tho? does the risk go the other way ie you fork out a percentage of your loss? thought not 

i say piss off the bankers, see how many leave, how many take their kids out of schools, sell up and move to hong kong, singapore, ny...my guess is very few - theres a reason time starts on the greenwich line - we're the centre of the universe why would you wish to live anywhere else? name one country you'd rather live in - i'll give you 20 reasons why you wouldn't 

Scotland? 

[albitz]

There has, to an extent, already been an exodus from the square mile to foreign climes BJ.It hasnt been widely reported though, cant imagine why ? If taxation levels keep rising and restrictions tighteneing, the situation will become much worse (or better depending on your point of view).
London is maybe not quite the centre of the universe, but it is still in the top 2 or3 financial centres in the world, which is why other countries must look on in bewilderment at the fact that we keep trying to hammer our one global successful industry until it up sticks and goes elsewhere. I think its a British thing. We dont actually like success.
I think its entirely possible that significant numbers of banks, and/or their top wealth creators will move abroad in the not too distant future. It depends who wins the game of poker they are currently playing with the politicians. So far the politicians (of all 3 parties) have played a dangerous game of spouting rhetoric to the electorate while hiding the truth that they cant really hammer the banks, and they dont actually want to, because the more money the banks make, the more money the treasury will have in the coffers. And that matters more than anything else. It always has done, but it matters more now than it ever has done.

[albitz]

Countries I would rather live in than the UK ?
If I were younger and wealthy - almost anywhere. I genuinely believe that this country has been very badly damaged, most probably beyond repair.

[Mysteryman]

Lithuania looks nice.

[albitz]

To a scouser - anywhere must look nice.

[Mysteryman]

To a scouser - anywhere must look nice.

Well...there's one place just across the Irish sea I wouldn't fancy

[Mysteryman]

And I dont mean the Isle of Man.