Bankers 'need to join real world', minister says

  JanetO 12:06 03 Dec 09
Locked

A government minister has told bankers "to come back into the real world" after Royal Bank of Scotland directors threatened to resign over bonuses. click here

Should the poor loves be allowed large bonuses?

  Al94 12:22 03 Dec 09

There are potentially dire consequences for the UK taxpayer if they don't get paid, it is in the best interests of the UK tax payer for the banks to return to substantial profits as quickly as possible so that "our" stake can be repaid and indeed a profit made. If the right sort of calibre of traders are not retained/attracted to UK Banks, we are in trouble, as they will go elsewhere where the bonus culture continues. It is a huge quandry for Mr Darling, well summed up by Robert Peston click here

  GANDALF <|:-)> 12:26 03 Dec 09

' If the right sort of calibre of traders are not retained/attracted to UK Banks, we are in trouble'..pray tell me, are these the same ones who got us into the present mess by not knowing what the hell they were doing or what the hell was happening?

G

  Al94 12:28 03 Dec 09

No they aren't.

  GANDALF <|:-)> 12:33 03 Dec 09

Really, may I join your world sometime?

G

  Al94 12:45 03 Dec 09

You don't seem to appreciate that forex dealers and traders continue to make huge profits for financial institutions throughout recent times obviously offset by losses in other areas.

  Kevscar1 12:50 03 Dec 09

A Govenment Minister telling bankers "to come back into the real world"
A well know phrase springs to mind.
A pot calling the kettle black.

  donki 12:54 03 Dec 09

It just goes to show they have taken no responsibility whatsoever for the mess they got us into in the first place. Yes I know that they will end up getting their bonuses just so they will stay within the UK but it doesn't make it right/ All the terms of salary and bonuses should have been sorted out before GB got his cheque book out.

  Picklefactory 13:02 03 Dec 09

Seems to be Premiership footballers in another format, why are they so special that they require huge bonuses, do they not get paid for doing their job? Oh, silly me, the competitors bank will pay huge bonuses, so if you want to keep me, you have to pay me huger bonus. Ridiculous!!
If ALL the banks are stopped from paying these obscene sums, then they will still move around to the highest bidder but at a sensible level. I don't belive for one second that all of the highest skilled bankers will all suddenly disappear out foreign and be lost to this country. It's an elite club and they don't like somoeone else changing the rules. I've seen on numerous occasions, exactly the same argument being used to try and defend the MP's expenses.

  Al94 13:08 03 Dec 09

Simple, it's like a basic wage (albeit a large one) with bonuses paid on top as a percentage of profits on dealing performance. If that is stopped in GB, London will cease to be an international financial centre with huge implications.

  gardener 13:09 03 Dec 09

How much money do these people need? What angers me is their apparent lack of any social conscience. And some people moan about the public sector holding this country to ransom!

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