tag:blogger.com,1999:blog-34993014.post4589482125370434207..comments2024-01-13T10:12:47.756+00:00Comments on Ranting Stan: Banks, bonuses and bossesUnknownnoreply@blogger.comBlogger3125tag:blogger.com,1999:blog-34993014.post-40075643384907870482009-12-06T10:17:05.358+00:002009-12-06T10:17:05.358+00:00I think the bonuses issue is a bit of a red herrin...I think the bonuses issue is a bit of a red herring. If the shareholders agree to the bonuses, then it's fair play. Whatever the shareholders agree to in bonuses only lowers the dividend paid to the shareholders - so the shareholders ought only to agree to bonuses when the profits are available to pay them.<br /><br />Now in cases like RBS where the government is also a shareholder, then I think the government is perfectly entitled to have a say in bonus payments. Where the government isn't a shareholder, it should be up to the banks themselves to pay what they like.<br /><br />The real cause of the banking crisis was (at least not directly) silly bonuses, but reckless lending which started off when Bill Clinton's Democrats threatened to penalise banks who were not more 'inclusive' in their lending policies. In other words, banks were forced by the government to make these daft loans.Richardnoreply@blogger.comtag:blogger.com,1999:blog-34993014.post-50672849142352362012009-12-04T09:26:35.708+00:002009-12-04T09:26:35.708+00:00Yup, Dubai would suit them nicely. Maybe we could...Yup, Dubai would suit them nicely. Maybe we could convert their bonuses into air fares?Letters From A Toryhttps://www.blogger.com/profile/14612766550608940053noreply@blogger.comtag:blogger.com,1999:blog-34993014.post-60201521229329327072009-12-03T13:31:32.171+00:002009-12-03T13:31:32.171+00:00In my time, bonuses were awarded for achievement o...In my time, bonuses were awarded for achievement over and above the norm, not for just doing (or failing to do) your job. John Lewis staff, for example, get a bonus based on the company's profits for the past year. I just can't understand why bankers should get a bonus for failure. And surely a "guaranteed bonus" is an oxymoron, the only guarantee that is surely possible is a guarantee that it will be paid if certain criteria is met in the same manner that you are guaranteed a salary for your work.<br />But these payments don't appear to be bonuses, they are merely part of the annual salary paid in a lump sum probably to keep the average company salary at a reasonable level.Brian E.noreply@blogger.com