Max Power Posted February 28, 2009 Share Posted February 28, 2009 There's very little point in wasting time arguing that payoffs should be refunded etc. The appalling thing is that they were ever agreed in the first place. The current crisis situation just proves that these mere mortals are no better than anyone at managing the huge financial responsibilities bestowed upon them. Never again should such obsene salaries and pensions be awarded to over rated misfits. The consequences for their failures should be made apparent to them at the outset and be strictly applied! I'll be very surprised if there haven't been victims of this crisis who are not of the same moral background as you or I, and maybe retribution will be handed out in due course?? I believe this happened recently in the case of a Swedish bank with business links to the biggest crime family ever known, the Vatican! Link to comment Share on other sites More sharing options...
Amadeus Posted March 1, 2009 Share Posted March 1, 2009 Link to comment Share on other sites More sharing options...
manshimajin Posted March 3, 2009 Share Posted March 3, 2009 Good news, bad news: Good news: Freddie's pension has increased again - to £703,000 Bad news: If the RBS had not used their discretionary powers it would have been worth £416,000 The Power of Discretion My suspicions seem to be well founded - all this UK government bluster is just colour and movement "full of sound and fury, signifying nothing". Lads, just change the pension tax laws to tax income on very high pensions at commensurate very high tax rates - no legal problems - you've got the right to legislate on tax. Link to comment Share on other sites More sharing options...
Sebrof Posted March 4, 2009 Share Posted March 4, 2009 Good news, bad news: Good news: Freddie's pension has increased again - to £703,000 Bad news: If the RBS had not used their discretionary powers it would have been worth £416,000 The Power of Discretion My suspicions seem to be well founded - all this UK government bluster is just colour and movement "full of sound and fury, signifying nothing". Lads, just change the pension tax laws to tax income on very high pensions at commensurate very high tax rates - no legal problems - you've got the right to legislate on tax. That was exactly what I thought. 100% tax on pensions above £30k to failed bankers, and 120% above 100k S Link to comment Share on other sites More sharing options...
manshimajin Posted March 4, 2009 Share Posted March 4, 2009 That was exactly what I thought. 100% tax on pensions above £30k to failed bankers, and 120% above 100k. S Much more political mileage in continuing to bang drums, rolling around on the ground screaming and keeping the issue on the boil. If they fixed the problem people would start looking at what they were doing. Link to comment Share on other sites More sharing options...
Sebrof Posted March 5, 2009 Share Posted March 5, 2009 That was exactly what I thought. 100% tax on pensions above £30k to failed bankers, and 120% above 100k. S Much more political mileage in continuing to bang drums, rolling around on the ground screaming and keeping the issue on the boil. If they fixed the problem people would start looking at what they were doing. Or not doing. S Link to comment Share on other sites More sharing options...
manshimajin Posted March 5, 2009 Share Posted March 5, 2009 Or not doing.S As I was taught in management, making a decision to do nothing is actually a decision to do something. Link to comment Share on other sites More sharing options...
Sebrof Posted March 5, 2009 Share Posted March 5, 2009 Or not doing.S As I was taught in management, making a decision to do nothing is actually a decision to do something. Well, up to a point, Lord Copper. I don't think Gordon Brown made a decision to take no action as the housing bubble expanded. I think that he was actually so stupid that he believed his own rhetoric about boom and bust, and didn't think there was a problem to address. S Link to comment Share on other sites More sharing options...
Lee54 Posted March 6, 2009 Share Posted March 6, 2009 Well nothing in the press but the RBS are laying staff off here, my sister accepted redundancy at the IOM Bank yesterday. Link to comment Share on other sites More sharing options...
Sebrof Posted March 6, 2009 Share Posted March 6, 2009 Well nothing in the press but the RBS are laying staff off here, my sister accepted redundancy at the IOM Bank yesterday. Which is why there is nothing in the press. Until the bank knows how many people will go voluntarily, it can't say how many will be given no choice in the matter. S Link to comment Share on other sites More sharing options...
Klimp Posted March 6, 2009 Share Posted March 6, 2009 LOL, it always amazes me that people love talking about the BAD events... What about HSBC and their £5billion profit... Link to comment Share on other sites More sharing options...
Amadeus Posted March 7, 2009 Share Posted March 7, 2009 From the Times: Even the tax havens are starting to feel the pinch I wonder if anyone can see a connection between these two facts. On Monday the TUC came out with research that claimed that tax avoidance by wealthy UK residents using tax havens cost the UK at least £4 billion a year, naming Jersey, the Isle of Man and Guernsey, among others. Yesterday Unite, the banking union, attacked the decision by Royal Bank of Scotland to cut jobs at, er, Jersey, Guernsey and the Isle of Man, among others. A fair number of those jobs will have been helping wealthy UK residents using tax havens, etc, etc. The islands, says Unite, “are heavily dependent on the financial services sector”. And on wealthy UK residents using tax havens, etc, etc . . . It might seem unfair to single out Sir Fred Goodwin for particular opprobrium. But, hell, everyone else is doing it . . . The website www.worldsworstbanker.com contains links to allow you to vote on two petitions. One asks the Government to reduce his pension by whatever means possible and when complete will be delivered to Gordon Brown and to Sir Fred himself, via Royal Mail or by hand if necessary. The other, on the No 10 website, wants him stripped of his knighthood. Link to comment Share on other sites More sharing options...
Pragmatopian Posted March 17, 2009 Share Posted March 17, 2009 http://news.bbc.co.uk/2/hi/business/7947844.stm Former RBS chief executive Sir Fred Goodwin has already taken a £3m advance on his £703,000 annual pension, Treasury Minister Lord Myners has said. Cheeky, cheeky bastard. Link to comment Share on other sites More sharing options...
Cambon Posted March 18, 2009 Share Posted March 18, 2009 http://news.bbc.co.uk/2/hi/business/7947844.stm Former RBS chief executive Sir Fred Goodwin has already taken a £3m advance on his £703,000 annual pension, Treasury Minister Lord Myners has said. Cheeky, cheeky bastard. Good man! Myners DID agree the pension. He DID know what was going on. The alternative was to make an huge severence payment to Goodwin which would definitely be seen as a reward for failure. The best bit is now ministers are planning on suing RBS over the pensions and payments. If RBS lose what are they going to pay with? Bail out money!!! Numpties. No rewards for failure. Lets hope that includes the entire Labour government. Link to comment Share on other sites More sharing options...
Pragmatopian Posted March 18, 2009 Share Posted March 18, 2009 I see that the US response to the AIG bonus furore is similar - AIG will have to pay the equivalent cost of the bonuses to the government and the US will dock the same amount from its next tranche of bailout money. Somehow I don't think that's going to appease the masses, given that it doesn't get round the fact that 73 managers still received over a million dollars each in bonus payments for their excellent work in 2008 which is not (cannot?) be clawed back. Surely in order for natural justice to be served the point of measures has to be to make the relevant individuals suffer - not the company as a whole. Link to comment Share on other sites More sharing options...
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