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[Dusty]

Is anybody as angry as I am that Fred Goodwin former head of RBS is refusing to give back any of his £650,000 per year pension (That's £13000 each week)

He was in charge of the ineptitude and incompetence of RBS during the current crisis. :-/

I am not a great believer in capital punishment but perhaps it could be reinstated for greedy bankers

 

[TheBoy]

I'm sure he's worth every penny....

[Dusty]

I'm sure he's worth every penny....

Please tell me that you are joking.

[Markie]

Theres two sides here, as a business leader who sucessfully negotiated his pension with lawyers, advisors and so on why should he hand it back.

If it was me and i had done nothing illegal i would not be handing it back.... for the sake of the nation? I think not.

However as a well off individual who never needs to work again it would be the right thing to do.

[Grumpy]

What ever the moral rights or wrongs on the size of his pension, there
is something a little more worrying about this government's actions
considering its track record.

What it is effectively saying is that pensions should be performance
related, and in this case it will take retrospective action.
Why does anyone think it will stop here and that they will not be next?

Consider the following poem by Martin Niemoller, a clergyman slung
into Dachau for voicing concerns about the government of the day.

When the Nazis came for the communists,
I remained silent;
I was not a communist.
 
When they locked up the social democrats,
I remained silent;
I was not a social democrat.

When they came for the trade unionists,
I did not speak out;
I was not a trade unionist.

When they came for the Jews,
I remained silent;
I was not a Jew.

When they came for me,
there was no one left to speak out.

[albitz]

People like him by nature are risk takers,thrill seekers with large egos.
this can be and often is a recipe for great success but if things go wrong they can go wrong in the biggest possible way.
He seemed determined to make RBS the worlds biggest bank,probably to make his mark/satisfy his ego etc; and for a time he brought huge profits to the bank,its shareholders,employees and the economy as a whole,however bubbles which grow very big very fast have a tendency to burst and when it happens with an institution of that size it obviously makes a lot of ripples and has an effect on a lot of innocent people.
The government has agencies such as the FSA (which is regarded as a toothless tiger and a bit of a joke by those in the industry)And departments such as the treasury (run by Gormless and Badger) whose job is to ensure that these institutions are being run in a manner which will not be detrimental to its customers and the economy as a whole.
In my opinion he should act with some moral courage and show that he and the industry he works is not totally inhabited by sharks and wide boys.If he made a significant gesture it would help repair some of the damage to the image financial industry which has been caused by recent events.
I think the senior management at the FSA (who btw are paying themselves large bonuses this year for a job well done) should be fired.
i think Mervyn King should be fired from the Bank of England,and I think Brown and Darling should resign in disgrace for the way they have handled economic matters for the last decade.
Brown knew what was going on in the banks,the head of risk at HBOS complained about the short termism of their strategy to the top man,who promptly fired him.Brown then made the man who fired him second in command at the FSA.Brown was spending money like it was going out of fashion and the badly run banks (which wasnt all banks) short term huge profits and ridiculous mortage lending were helping to fuel the boom which provided the tax revenue to justify his spending and his announcements that he had ended "boom and bust" for good.
rant over  

[TheBoy]

People like him by nature are risk takers,thrill seekers with large egos.
this can be and often is a recipe for great success but if things go wrong they can go wrong in the biggest possible way.
He seemed determined to make RBS the worlds biggest bank,probably to make his mark/satisfy his ego etc; and for a time he brought huge profits to the bank,its shareholders,employees and the economy as a whole,however bubbles which grow very big very fast have a tendency to burst and when it happens with an institution of that size it obviously makes a lot of ripples and has an effect on a lot of innocent people.
The government has agencies such as the FSA (which is regarded as a toothless tiger and a bit of a joke by those in the industry)And departments such as the treasury (run by Gormless and Badger) whose job is to ensure that these institutions are being run in a manner which will not be detrimental to its customers and the economy as a whole.
In my opinion he should act with some moral courage and show that he and the industry he works is not totally inhabited by sharks and wide boys.If he made a significant gesture it would help repair some of the damage to the image financial industry which has been caused by recent events.
I think the senior management at the FSA (who btw are paying themselves large bonuses this year for a job well done) should be fired.
i think Mervyn King should be fired from the Bank of England,and I think Brown and Darling should resign in disgrace for the way they have handled economic matters for the last decade.
Brown knew what was going on in the banks,the head of risk at HBOS complained about the short termism of their strategy to the top man,who promptly fired him.Brown then made the man who fired him second in command at the FSA.Brown was spending money like it was going out of fashion and the badly run banks (which wasnt all banks) short term huge profits and ridiculous mortage lending were helping to fuel the boom which provided the tax revenue to justify his spending and his announcements that he had ended "boom and bust" for good.
rant over  

i couldn't be arsed to type that....

[albitz]

Im at work and your not.

[waspy]

People like him by nature are risk takers,thrill seekers with large egos.
this can be and often is a recipe for great success but if things go wrong they can go wrong in the biggest possible way.
He seemed determined to make RBS the worlds biggest bank,probably to make his mark/satisfy his ego etc; and for a time he brought huge profits to the bank,its shareholders,employees and the economy as a whole,however bubbles which grow very big very fast have a tendency to burst and when it happens with an institution of that size it obviously makes a lot of ripples and has an effect on a lot of innocent people.
The government has agencies such as the FSA (which is regarded as a toothless tiger and a bit of a joke by those in the industry)And departments such as the treasury (run by Gormless and Badger) whose job is to ensure that these institutions are being run in a manner which will not be detrimental to its customers and the economy as a whole.
In my opinion he should act with some moral courage and show that he and the industry he works is not totally inhabited by sharks and wide boys.If he made a significant gesture it would help repair some of the damage to the image financial industry which has been caused by recent events.
I think the senior management at the FSA (who btw are paying themselves large bonuses this year for a job well done) should be fired.
i think Mervyn King should be fired from the Bank of England,and I think Brown and Darling should resign in disgrace for the way they have handled economic matters for the last decade.
Brown knew what was going on in the banks,the head of risk at HBOS complained about the short termism of their strategy to the top man,who promptly fired him.Brown then made the man who fired him second in command at the FSA.Brown was spending money like it was going out of fashion and the badly run banks (which wasnt all banks) short term huge profits and ridiculous mortage lending were helping to fuel the boom which provided the tax revenue to justify his spending and his announcements that he had ended "boom and bust" for good.
rant over  

All so very true

[Field Marshal Dr. Opti]

Hang him...............and his wife ............children.............and dog for good measure.....that would teach the greedy bastard not to f#ck with other peoples lives and jobs in such a cavalier fashion.

These banks have been helped out of trouble by billions of pounds of taxpayers money (yours and mine)................if he gets to keep £13000 each and every week for being useless at his job ............then there is no justice in this world.

This sh#thead should not be REWARDED...........for bad judgement..............greed ........and incompetence.

[albitz]

The thing that annoys me is the fact that everyone is pointing the finger at the Traders/equity dealers because some of them recieve what most of us consider to be very large bonuses.
They get paid the bonuses becuase they are talented people and the ones who make big bucks and grab headlines for it are very talented.
They make huge sums off money for their employers and get paid the market rate for their skills,and if they dont they can move elsewhere,so employers want to hang on to them.It isnt as easy as it looks and if it was we would all be doing it.
The top trader at a bank based at Canary Wharf about 5 years ago was told his bonus was just short of 1 million US dollars,I would have thought I had died and gone to heaven,but he sais he wasnt working for that amount of money and walked out ,moved to Chicago and started his own company.In the space of less than 3 years he made millions.
I also know for a fact that banks which arent struggling have got their chequebooks out and are headhunting the cream of the talent from the banks who have been rescued by taxpayers money.
The point is that the poloticians and the top brass of the banks have hands covered in blood so to speak but they are letting the obvious scapegoats take the blame.
Unbeliavably Brown is trying to unite every government who is stupid enough to listen to him to have a global financial policy which restricts the earnings of these people.Redistribution of wealth on a global scale.I think he may have completely lost his marbles and sees himself as a latter day Karl Marx who is going to create a global Marxist Utopia.

[Richie London]

no way i would give it up, i dont think anyone will. but i do believe it is wrong for anyone to recieve a penson, private or state before etirement age.

[Dusty]

The thing that annoys me is the fact that everyone is pointing the finger at the Traders/equity dealers because some of them recieve what most of us consider to be very large bonuses.
They get paid the bonuses becuase they are talented people and the ones who make big bucks and grab headlines for it are very talented.
They make huge sums off money for their employers and get paid the market rate for their skills,and if they dont they can move elsewhere,so employers want to hang on to them.It isnt as easy as it looks and if it was we would all be doing it.
The top trader at a bank based at Canary Wharf about 5 years ago was told his bonus was just short of 1 million US dollars,I would have thought I had died and gone to heaven,but he sais he wasnt working for that amount of money and walked out ,moved to Chicago and started his own company.In the space of less than 3 years he made millions.
I also know for a fact that banks which arent struggling have got their chequebooks out and are headhunting the cream of the talent from the banks who have been rescued by taxpayers money.
The point is that the poloticians and the top brass of the banks have hands covered in blood so to speak but they are letting the obvious scapegoats take the blame.
Unbeliavably Brown is trying to unite every government who is stupid enough to listen to him to have a global financial policy which restricts the earnings of these people.Redistribution of wealth on a global scale.I think he may have completely lost his marbles and sees himself as a latter day Karl Marx who is going to create a global Marxist Utopia.

But Albitz,these people are not talented as you say.Most of them are chancers (with other peoples money) who take enormous risks in order to collect big bonus for themselves.
And when the house of card falls down ,I do not think that they should be paid large pensions and bonus payments for their failures,that you and I will have to pay for decades to come. :-/ :-/

[Jay w]

no way i would give it up, i dont think anyone will. but i do believe it is wrong for anyone to recieve a penson, private or state before etirement age.

his argument for taking it early was he didn't ask/demand the golden handshake he was entitled to, this would have been abut 1.5 million....

I would have given him something golden, it wouldn't have been a handshake but it would have been warm  

or would that have been a waste of recycled stella?

[Dusty]

The thing that annoys me is the fact that everyone is pointing the finger at the Traders/equity dealers because some of them recieve what most of us consider to be very large bonuses.
They get paid the bonuses becuase they are talented people and the ones who make big bucks and grab headlines for it are very talented.
They make huge sums off money for their employers and get paid the market rate for their skills,and if they dont they can move elsewhere,so employers want to hang on to them.It isnt as easy as it looks and if it was we would all be doing it.
The top trader at a bank based at Canary Wharf about 5 years ago was told his bonus was just short of 1 million US dollars,I would have thought I had died and gone to heaven,but he sais he wasnt working for that amount of money and walked out ,moved to Chicago and started his own company.In the space of less than 3 years he made millions.
I also know for a fact that banks which arent struggling have got their chequebooks out and are headhunting the cream of the talent from the banks who have been rescued by taxpayers money.
The point is that the poloticians and the top brass of the banks have hands covered in blood so to speak but they are letting the obvious scapegoats take the blame.
Unbeliavably Brown is trying to unite every government who is stupid enough to listen to him to have a global financial policy which restricts the earnings of these people.Redistribution of wealth on a global scale.I think he may have completely lost his marbles and sees himself as a latter day Karl Marx who is going to create a global Marxist Utopia.

Now this worries me.
If these reprobates and chancers have been found to be so inept and incompetent at one bank.(to the extent that the whole of the British banking system has fallen apart)then why oh why would any other banks wish to employ them.

They are clearly without talent .Talentless. :-/ :-/