Bankers moaning

Now tomfun I never disrespected you as an individual in any way and well you know that.
No matter who you know or what you do it does not change my circumstances and what happened to me and many thousands of others.
And my opinions of those Bankers who are demanding bonuses which they possibly do not deserve has and never will change.

 

Ashk him how many of the ones working with him are from the same background ?
99.9% of those jobs are for the boys !!

But I should have said there is always one that gets through !

Go on ask him

 

If they are getting a good wage, why do they deserve more for doing their job?
I really cannot understand why they seem to think they are entitled to it? It is not their money they are playing with , so why are they entitled to a cut of it ? They have already been paid to do their job !

 

I will do, although as the person making the accusations the burden of proof should probably lie with you.

I've just remembered that someone I went to school with is also banking in the City, again with no family connections.

I'm not denying that connections might help you get through the door, but it's far from a closed shop and if you work hard and go to a good uni you stand every hope of getting a banking job.

 

Ok mate

 

Things is, if they make that much every year for the rest of their lives, they'll still owe the tax payer billions and billions, give or take, for the money they lost during the financial crash, which would not have happened if they'd invested the money sensibly. No matter how well they do, they'll never get back on an even keel because they didn't sort the mess out themselves, they were bailed out. Capitalism made the mess, socialism found a solution.

2005 - profits £15 million, "Yay, bonuses all round."
2006 - profits £18 million, "Yay, bonuses all round."
2007 - profits £9 million, "Yay, bonuses all round."
2008 - losses £80 billion, "Ooops, better not take a bonus this year."
2009 - losses £20 billion, "Yay, not as bad as last year."
2010 - profits £2 million, "Yay, bonuses all round."

Hang on a minute, you still owe us £100 billion give or take £2 million! When you've paid all that back, then you can claim you've made a profit and then you can start having bonuses again. You don't just forget about the two years when you ****** the entire world up and start from scratch, you still owe all that money.

 

As I understand it since the late 80s it's been Easier to break onto the initial trading floor. It's progress behind that rarely opens up without connections.

 

I tend to agree with you.

However - they are put in a situation where they have the opportunity. If the sums they were dealing with weren't so huge they wouldn't generate the income......it's not their effort - most of the money being generated is due to the leverage - the shareholders and the pensioners and the investors. So 1% is a ridiculous amount to pay in this situation.

And we'll agree to disagree on whether anyone with a couple of A levels could do this job. In fact the way that some people play the bookies I'm convinced that anyone with the right application can do this job.

 

If they were creating such massive revenues how did the industry end up in such a mess? Something must be wrong. And how do you suggest we hold them accountable for the mess? They don't give a **** because they have already been paid their obscene bonuses for the massive revenue they created which has somehow left the industry in a right royal mess. Sorry, can't agree with you at all.

 

Bingo.

 

I don't think anything of the sort, I have been commenting on what you have put in your posts. Simple as that.

 

Which is?
They are not getting a good wage in the first place ?

The bonus culture has cost this Country billions of pounds over the last few years, billions that could have been used to for the good of millions, not just to sort out a flawed system, that they refuse to accept is flawed and just continue to abuse. Just because they keep getting away with it does not make it right!

 

I'm glad the EU are getting involved. Our banking industry will never sort itself out on this issue and our corrupt set of wallys that run the country wouldn't dare upset their pals.

 

Now I really would like to see an reasoned argument against this.............

It really is beyond belief that having been bailed out to the degree that they were, that (some) banks are proposing any form of bonuses

I used to work for RBS myself up until the middle of last year - I never received ANY bonuses at all......

 

why?