Shrimpsvoices

6.5 MIL in bonus to the latest d..k

And i dont care what YOU say on here NOBODY IS WORTH THAT KINDA MONEY

(including footballers)

where are the morals in life

As the Governments are simply not strong enough, they bail the banks out then let them do what they want with the profits having squeezed businesses and customers till the pips pop out.

Barclays still has a long way to go to beat the Fortress Group on Wall Street who shelled out £156M to one Employee.

Goldman Sachs owed the U.S. Government $10 Billion but it didn't stop them paying out 1.2 Billion in bonuses to staff.

The U.S. Government are $3 Trillion in debt. Credit Crunch 2 will soon be upon us.

HEeeeee when i was a lad i was paid about 1 shilling and 2 pennys or was it three pennys....

alas i cant remember.. its been along time since then.........

It depends how you look at it, the front line staff who work in the branches, do they deserve a bonus? They aren't the ones doing wrong, they are doing their job.

It's the fat cats in the capital who call the shots, they're the ones that get the big bonuses too.

Sammy h wrote:It depends how you look at it, the front line staff who work in the branches, do they deserve a bonus? They aren't the ones doing wrong, they are doing their job.

It's the fat cats in the capital who call the shots, they're the ones that get the big bonuses too.

Are you a banker Sammy?

marky No.1 wrote:As the Governments are simply not strong enough, they bail the banks out then let them do what they want with the profits having squeezed businesses and customers till the pips pop out.

Barclays still has a long way to go to beat the Fortress Group on Wall Street who shelled out £156M to one Employee.

Goldman Sachs owed the U.S. Government $10 Billion but it didn't stop them paying out 1.2 Billion in bonuses to staff.

The U.S. Government are $3 Trillion in debt. Credit Crunch 2 will soon be upon us.

Goldman Sachs' total bonus payment in 2010 were actually $16bn not $1.2bn.

Credit crunch 2 will actually more likely come from American municipal debt (and some in Europe too). The US government, even with $3 trillion of debts, can't default. However American local government which, unlike UK councils, can borrow money is $2.3 trillion in debt with a number of states and cities in danger of default.

shrimpnsave wrote:6.5 MIL in bonus to the latest d..k

And i dont care what YOU say on here NOBODY IS WORTH THAT KINDA MONEY

(including footballers)

where are the morals in life

How much do Barclays owe the exchequer for their bailout package?

To be fair he led barclays capital to almost double it's profits to just under 5 billion pounds.

To put it in perspective if I was CEO of a company that made 5 million pounds profit I'd think myself hard done to if I didn't get a bonus of £6500 that's on the low side to be fair.

goneshrimping wrote:

shrimpnsave wrote:6.5 MIL in bonus to the latest d..k

And i dont care what YOU say on here NOBODY IS WORTH THAT KINDA MONEY

(including footballers)

where are the morals in life

How much do Barclays owe the exchequer for their bailout package?

Technically nothing as they got bailed out by Middle East sovereign wealth funds rather than get a bailout from the Exchequer. However Barclays Capital did get billions in revenue from other support measures and the downturn forced the spreads between what you buy and what you sell for much wider in many markets from which Barclays benefited massively. Meanwhile Barclays Bank, the retail side, is benefiting from the largest gap between the real interest rate and mortgage rates for the biggest period since the 1960s. The banks are cleaning up from you, me and the country, meanwhile their pishing it away on bonuses and crap construction companies (oh and football clubs).

Meanwhile Barclays Bank, the retail side, is benefiting from the largest gap between the real interest rate and mortgage rates for the biggest period since the 1960s.


They sure are considering the base rate is 0.5% some of the mortgage deals have never dropped ever since the rates started going down and if you don't have 20% deposit then you will be paying even more.

If you look hard enough you can find a bargin though like we did when we moved although that was with a building society but I prefer to stick with building societys I wont give my any of my custom to any of the PLC banks.

At least Barclays made a profit though it's the banks that were bailed out that are still making a loss that winds me up even more.

Posh wrote:

goneshrimping wrote:

shrimpnsave wrote:6.5 MIL in bonus to the latest d..k

And i dont care what YOU say on here NOBODY IS WORTH THAT KINDA MONEY

(including footballers)

where are the morals in life

How much do Barclays owe the exchequer for their bailout package?

Technically nothing as they got bailed out by Middle East sovereign wealth funds rather than get a bailout from the Exchequer. However Barclays Capital did get billions in revenue from other support measures and the downturn forced the spreads between what you buy and what you sell for much wider in many markets from which Barclays benefited massively. Meanwhile Barclays Bank, the retail side, is benefiting from the largest gap between the real interest rate and mortgage rates for the biggest period since the 1960s. The banks are cleaning up from you, me and the country, meanwhile their pishing it away on bonuses and crap construction companies (oh and football clubs).

Yes, they have taken the piss out of the situation I agree but that wasn't my point. If they are privately owned they can pay who they like what they like. We might not like it but that's life.

Sammy h wrote:It depends how you look at it, the front line staff who work in the branches, do they deserve a bonus? They aren't the ones doing wrong, they are doing their job.

It's the fat cats in the capital who call the shots, they're the ones that get the big bonuses too.

No, they don't! In any other industry, they'd be out of a job altogether. A run on the banks (if the government hadn't bailed some out) would have taken the whole lot of them out. Instead, other people carry the can and lose their jobs at worst or end up being worse off in real terms (taxes up, pay freezes, inflation at 4%+, fuel at historic highs). The only reason why we aren't ALL hurting is because of interest rates being relatively low. When they increase lots of 'working class' folk will really struggle. Having worked as a nurse for 25 years (including as a student), I've never been given a bonus. For three years, (including this coming April) I've not been given a pay rise. Anyone who works for a bank should be thankful they've got a job at all and be keeping their head down!

goneshrimping wrote:Yes, they have taken the piss out of the situation I agree but that wasn't my point. If they are privately owned they can pay who they like what they like. We might not like it but that's life.

Who owns Barclays Bank? We do! The vast majority of Barclays is owned by institutional fund managers - your private pension, your work pension, your local authority pension. The reality is that overpaid fund managers who are tied into this system and earn vast sums themselves make decisions on your behalf through proxy votes. The reality is though that YOU own Barclays and if individual owners had a vote we might vote against salaries and bonuses but others do it for us based on the ludicrous system that exists. Time we stood up and made our money work for us and not for the increasingly obscenely rich.

Barclays were not bailed out, they sold off a chuck of their fund management portfolio to middle east investors to ensure that the crash did not put them in a position where they had to go cap in hand to the UK government ( actually they rejected an offer from the UK government and sorted themselves out). They also received billions from its insurance policies from AIG ( who were bailed out by the US government ). They are probably the 3rd or 4th larget banking group currently in the world.

HSBC are another UK based bank who managed to balance their books so that they did not require UK government assistance. Following the collapse of Citigroup, HSBC are probably the largest global banking group in the world ( Although it could be close between HSBC and French bank BNP )

Both are major global businesses and I would think that the UK retail market probably provides less than 1% of their overall profits. Infact if they were not UK based ( i.e head quarters in the UK ), the UK tax purse would be a lot worse of, because of the millions they contribute each year in tax.

Keith, this - "Anyone who works for a bank should be thankful they've got a job at all and be keeping their head down"

is like blaming a petrol shop attendant for the global rise in the price of oil or even a single nurse for the state of the NHS ( regardless of working within the NHS or not ! )

Therefore as long as the shareholders of said companies are happy that they are getting profitable results, then these bonuses will always be paid out as incentives to continue working as they are.

The only people we should be complaining of getting bonuses are the likes of RBS and Lloyds who the government did bailout to ensure they kept running. These banks should repay the tax payer before paying bonuses imo. The knock on effect of letting these banks die would have been more harmful to the overall UK economy, hence why they were bailed out in the first place.

P.S I don't work for Barclays

Mike wrote:Keith, this - "Anyone who works for a bank should be thankful they've got a job at all and be keeping their head down"

is like blaming a petrol shop attendant for the global rise in the price of oil or even a single nurse for the state of the NHS ( regardless of working within the NHS or not ! )

But it is the nurses and the person working in the shop at BP who are paying for the mess that the banks caused. There is a difference between "blaming" the 'shop floor staff' and saying that everyone in the banking industry should simply be thankful the industry got bailed out. If the banks weren't bailed out, there would have been a run on all the banks and the whole lot would have collapsed. At a time when small businesses are closing and people are losing their jobs, I can't see any bonuses in the banking industry being appropriate at whatever level.