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[amigov6]

Whilst i understand the injustice & the outrage it's generated when folk who've worked all thier lives have to retire on a pittance, as already said he's a high flying risk taker who'se managed to get himself where he is now. He must have done some good to get there in the first place. Most if not all of us find a safe way to make a living & stick with it. He's gone the extra mile even if he's been ruthless in doing so. Despite a few misgivings if i was dynamic enough to get where he is by his age i'd keep it as well.
     You reap what you sow.

[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.

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. :-/ :-/

It takes a lot of talent and hard work to be a good trader,and if you are earning a lot of money for your bank they will pay you a lot of money,because if they dont another bank will.Thats market forces/capitalism and most of the time we all prosper to some extent from that.
The strategy of trading i.e. which sector etc to deal in isnt usually decided by traders,it is decided by fund managers in conjunction with senior management,the traders simply apply their skills within the given parameters.if senior management decide to get involved in toxic debt as just another comodity there,s no point blaming the people further down the line for that.which is why I believe the water has been muddied to save the skins of the really senior people who made the wrong decisions and the politicians who were supposed to ensure they were regulated properly but turned a blind eye (no pun intended)for the same short term reasons that the senior banking management did.
i firmly believe that a Bank which has not been propped up by the taxpayer has the right to pay any employee whatever they like and its no-one business who isnt directly involved in that Bank.
The banks which are surviving on taxpayers money ,should imo fire most of the senior management and very few employees should recieve bonuses because the truth is that they sre lucky to still have jobs when many other people havent.The only exception I would make would be for the people who are known to exceptionally good at what they do,because they are being headhunted by other Banks,and if they go then it makes it so much more difficult for the Banks concerned to return to profitability and start paying back what they owe us.
And let us not forget that there are many banks (particularily investment banks) in this country,some of which most people have never even heard of and most of them are keeping their heads above water in the worst possible circumstances,only a few of the banks have got into a situation where we have had to bale them out.

[Olympia5776]

Sir Fred on £650K a year is the tip of the iceberg , did you know about this lot;
Andy Murray   £2 MILLION a year ( £6 mill over 3 years )
Zara Phillips    £2 MILLION a year ( £6 mill over 3 years )
Jackie Stewart (Sir )  £6 'effin MILLION a year
All for being ambassadors for the RBS World of Sport.
To be fair little Andy ,god bless 'im , says he'll take a pay cut.
What a sweetie......

I keep hearng the words "pigs ,trough, barstards, greedy, avarice "

[Kevin Wood]

Whilst with the benefit of hindsight we can see that this particular chap may not have been particularly good value for money, do we really want to set a precedent that the government, your employer or anyone else can arbitrarily pull your pension in retrospect when they decide you actually didn't do a very good job during your career, or even when the media decides to kick up a storm about you?

I sincerely hope the whole financial sector reconsiders how these people are "rewarded" in future but the fact remains that he has retired with his pension and that's a done deal.

Ok, he has been approached and asked if he'd like to relinquish it and declined. I guess he figures his was not the only snout in the trough so why should he be the one that bows to bad publicity and carries the can?

Kevin

[albitz]

If only we could find a way of reducing or cancelling the pensions etc,of our politicians when they do a crap job.
The pension pots of Blair/brown etc involve huge amounts of taxpayers money no matter how badly they do the job we their employers have employed them to do.

[albitz]

The mud is clearing from the water and guess what? the trail leads back to the government again.
It turns out that half of this pension pot was discretionary and could have been stopped.The government says that they didnt realise this until it was too late,which imo means there was a massive failure of due diligence as has been the case with every bank that they have put taxpayers money into,they havent looked at the books properly in any of them,instead they have simply opened the countries chequebook as a knee jerk reaction,but then that has become something of a habit over the last 12 yeas or so.
Fred goodwin says the government arent telling the truth,he says they knew full well what all his terms and conditions were when he left RBS,which is why he wont give the money back.
I suppose the question is,who is the biggest liar? sir Fred or HM gov.
Not something I would like to bet on personally,but whichever story is the true one doesnt really matter because either way the government has yet again made a complete mess of things and tried to blame everyone else when they get caught.
p.s. wait for the bullsh1t to start flying today over the massive losses at Lloyds group.It was until 6 months ago a "safe mundane bank"until it had a shotgun wedding with HBOS.The finger on the trigger at the shotgun wedding  was Gormless Brown,who put the man at least partially responsible for the collapse of HBOS as 2nd in command at the FSA,the organisation responsible for overseeing the proper running of the British banking industry.Corruption in high places,the higher they go,the more corrupt they become.

[eddie]

I,m pretty sure if an error meant any  'state' pensioner receiving £1000 by mistake for one week,it would soon be snatched back!

It is argued that these 'fat cats' are worth what they get because   of the nature and value of that work--fair comment--doesnt that also apply to the cleaner,the typist the clerk,the engineer etc. take away any single group of people in any industry and that industry will fail in some way. Just as a chain will fail if it loses a link.

chairman eddie,for the people.

[Martin_1962]

Sir Fred on £650K a year is the tip of the iceberg , did you know about this lot;
Andy Murray   £2 MILLION a year ( £6 mill over 3 years )
Zara Phillips    £2 MILLION a year ( £6 mill over 3 years )
Jackie Stewart (Sir )  £6 'effin MILLION a year
All for being ambassadors for the RBS World of Sport.
To be fair little Andy ,god bless 'im , says he'll take a pay cut.
What a sweetie......

I keep hearng the words "pigs ,trough, barstards, greedy, avarice "

Makes Williams £20M a year look like a bargain - £10M on ht eabove 3 and I didn't even know.

Yet we regularly see Williams driving around with RBS over them.

£10 saved with those 3 for FW to run his cars

[Varche]

More lack of due diligence. In fact nowadays there seems to be NONE. The government knew about his "huge pension" but thought they couldn't do anything about it. Now it turns out they could. Bit late.

Once again no one will get sacked for not having done their job properly.  I wonder if he will rescind his "sirdom". doubt that.

varche

[ians]

More lack of due diligence. In fact nowadays there seems to be NONE. The government knew about his "huge pension" but thought they couldn't do anything about it. Now it turns out they could. Bit late.

Once again no one will get sacked for not having done their job properly.  I wonder if he will rescind his "sirdom". doubt that.

varche

I thought the minister saying 'we were given the impression' that it was legally binding was crass.   That is why we have lawyers and auditors, to get to the hard facts - not just 'an impression'.

Then again this is the same shower who don't have a clue about IT security and stick cd's full of data in the post..

[Jimbob]

Everyone is missing the obvious, just have him and his family assasinated.

Problem solved, no pension to pay  

[CaptainZok]

Everyone is missing the obvious, just have him and his family assasinated.

Problem solved, no pension to pay  

[media]http://www.youtube.com/watch?v=4Jdd26HZW34[/media]

[Field Marshal Dr. Opti]

Everyone is missing the obvious, just have him and his family assasinated.

Problem solved, no pension to pay  

I said something along similar lines...............I just included his dog as well for good measure.

[Welung666]

Everyone is missing the obvious, just have him and his family assasinated.

Problem solved, no pension to pay  

I said something along similar lines...............I just included his dog as well for good measure.

I dread to think what the dog's pension is

[Kevin Wood]

Everyone is missing the obvious, just have him and his family assasinated.

Problem solved, no pension to pay  

Not sure even this government has resorted to making inconvenient people "disappear" yet, but it's heading in that direction.

Kevin