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Topic History of: I cannot tell you how I hate this stupid complaint about bank bonuses
Max. showing the last 5 posts - (Last post first)
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Jim |
Thanks Innocent Accused, you write:
"All banks need customers,& many of the talented people who can do that have left for banks not under government control,there they can get their rewards."
You left out the words "which may fail" and "at our expense as underwriters".
Let's try that again.
"All banks need customers,& many of the talented people who can do that have left for banks not under government control, [which may fail]. There they can get their rewards [at our expense as underwriters]."
But even with the omissions restored, it is impossible to judge the truth of the statement without evidence.
Best Wishes,
Jim |
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Innocent Accused |
'The one policy fits all' stupidity of the media is threatening our banks recovery.
of course you don't pay bonuses to failures,but what about the people who bring in the profits? All banks need customers,& many of the talented people who can do that have left for banks not under government control,there they can get their rewards.
Also many of the bonuses were from previous years,& were agreed upon before the crash.Profit was made,& as such was deserved.The fools who took us into the mess are as JK pointed out largely gone.
RBS would have indeed made more profit had it not have been held back by government pandering to the media. |
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Jim |
Thanks JK,
I take it that you think those who make huge losses should not be fined.
I'm puzzled that you say they should be fired rather than fined?
There can be no doubt that the correlate of a bonus is a fine, whereas being fired is merely the correlate of keeping your job.
Best Wishes,
Jim |
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JK2006 |
I think those who lose millions should be punished - and I believe they were fired. Not only morally but practically; you do a job badly, you get fired.
But the other question is - were those who foolishly rewarded short term profit makers which eventually caused problems punished or fired?
Hopefully they were. But I'm not a banker. I'm a music person and those executives screwing up our industry are indeed suffering the consequences. |
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Jim |
Thanks JK, you write:
"We elect the Government that makes the rules Jim"
It is true that we elect the part of the legislature known as the house of commons. Then we come here and debate what the rules ought to be. What they are has no bearing on what they ought to be, therefore what the legislature legislates has no bearing on what the legislature ought to legislate. It is the second that we are discussing here.
You continue:
"If we feel banks should go under or fines should be levied, then the Government should do that. But, as I often say, democracy does not work. Politicians are the prettiest stoopids elected by the stoopid."
Likewise, "If we feel bankers should be rewarded with bonuses when they make millions, then the Government should do that", though that wasn't how you put your initial point. There is no question that the legislature should, though it not always does, declare in law the general will of the people. What you haven't shown, however, is how any of this relates to the question. It was a question for you, not for the legislature.
You then say:
"If we don't like banking methods, put our money elsewhere. Don't blame those who do their jobs well for those who did them badly."
I'm sorry, but this again misses the point entirely. You have set up a straw man. At issue is whether consistency requires a principle of punishment as well as a principle of reward, not how to discriminate between those who make profits from those who don't.
There may well be competition between banks for our money. You have not shown how this is relevant to the question. In any case, there is no choice for British consumers between financial systems, of which we can have only one, and which we must all choose together.
So, sorry to persist old bean, but we still haven't been told. Does Jonathan King believe that, consistent with his principle that bankers who make millions should be rewarded with bonuses, those who lose millions should be punished with fines?
Best Wishes,
Jim |
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