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Old 21-01-2009, 08:51 PM   #1
Colio

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In the words of the virgin mary..

come again.

http://news.bbc.co.uk/1/hi/uk_politics/7843124.stm

get frickin stretched.
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Old 21-01-2009, 09:07 PM   #2
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Re: In the words of the virgin mary..

******* joke, like most of this country
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Old 22-01-2009, 12:42 AM   #3
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Re: In the words of the virgin mary..

Tbh I think it's fair enough if they actually deserve it. It's been nearly a year since the bank wnet down, so the people that have stepped in deserve it in my opinion.
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Old 22-01-2009, 01:06 AM   #4
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Re: In the words of the virgin mary..

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Tbh I think it's fair enough if they actually deserve it. It's been nearly a year since the bank wnet down, so the people that have stepped in deserve it in my opinion.
Not when the public is owed money...
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Old 22-01-2009, 06:52 AM   #5
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Re: In the words of the virgin mary..

And especialy when Gorden Brown is about to give more of our tax payers money to these criminals.
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Old 22-01-2009, 07:27 AM   #6
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Re: In the words of the virgin mary..

This is just the rank and file that are getting this, not the management and certainly not the senior management and the executives.

I don't have a problem myself. If they, as it seems, have done a good job and are ahead in the paying back of the debt then a bonus is not unreasonable, if a bit insensitive when Barclays shed almost 5000 jobs last week.

The people I want to see punished are the gamblers in the city. I think all the senior people in all these hedge funds and banks should not only be sacked and prevented from ever working in any form of financial industry but they should have all, and I mean ALL of their assets confiscated. Leave them totally penniless and without a roof over their heads as they have done to so many others.
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Old 22-01-2009, 08:15 AM   #7
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Re: In the words of the virgin mary..

agree with the bettox

i think this is good. giving bonuses for meeting targets gets more out of your staff. the targets are obviously going to be on there way to fully paying off debts so encouraging all of there staff in this way is surely a good thing.


imagine this, i get a 1000 loan from a bank. are you suggesting i cant spend any on anything else until i have paid back the loan? even if spending some of the money in a particular way will enable me to pay back the loan faster?

seriously guys, stop getting angry at government just cos the media tells you to


edit:
Quote:
Originally Posted by me
the targets are obviously going to be on there way to fully paying off debts
obviously my statement is assuming this is correct
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Old 22-01-2009, 08:39 AM   #8
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Re: In the words of the virgin mary..

Quote:
Originally Posted by monger View Post
agree with the bettox

i think this is good. giving bonuses for meeting targets gets more out of your staff. the targets are obviously going to be on there way to fully paying off debts so encouraging all of there staff in this way is surely a good thing.


imagine this, i get a 1000 loan from a bank. are you suggesting i cant spend any on anything else until i have paid back the loan? even if spending some of the money in a particular way will enable me to pay back the loan faster?

seriously guys, stop getting angry at government just cos the media tells you to


edit: obviously my statement is assuming this is correct
QFT.

The article even says they're paying off the loan faster than was expected of them.
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Old 22-01-2009, 09:43 AM   #9
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Re: In the words of the virgin mary..

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Originally Posted by Snoozer View Post
Not when the public is owed money...
+1
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Old 22-01-2009, 10:08 AM   #10
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Re: In the words of the virgin mary..

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Originally Posted by Colio View Post
+1
quality selective post reading
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Old 22-01-2009, 10:11 AM   #11
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Re: In the words of the virgin mary..

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quality selective post reading
not selective reading. I read all the posts. But I think that in the current climate, bonus schemes are bad form. especially when the tax payer is footing the bill once again.

If they've done a good job, great, here is you salary and heres to a few years more employment.

the reward was based on staff meeting a target to repay the governments loan - thats called "not defaulting" and is what everybody who gets credit is required to do anyway.

I dont get a bonus from my bank if I pay my mortgage on time every time for a year. (who ironically is actually with northern rock)
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Last edited by Colio; 22-01-2009 at 10:15 AM.
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Old 22-01-2009, 11:59 AM   #12
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Re: In the words of the virgin mary..

who are you to say how a company pays it's staff? you can say as a taxpayer you have a right but take that up with the government that gave the bail out, not the staff at northern rock.

as part of the government's loan, they would have had terms on how and when the loan is repaid. if northern rock are able to meet that agreement then the taxpayer is getting his loan back.

how northern rock want to encourage productivity has got nothing to do with anyone other than Northern rock UNLESS they were failing to pay back the agreed loan. this is not the case so taxpayer can shut up
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Old 22-01-2009, 01:11 PM   #13
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Re: In the words of the virgin mary..

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who are you to say how a company pays it's staff? you can say as a taxpayer you have a right but take that up with the government that gave the bail out,
and he says "its a matter for northern rock"

I understand your argument marc, I just don't agree with it, and find the whole thing shambolic and what I deem to be taking advantage of what will end up being massive amounts of debt for our futures. (on top of the bottomless billions that we are shoving into the banking system to seemingly no avail).
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Old 22-01-2009, 02:07 PM   #14
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Re: In the words of the virgin mary..

I think you'll find that this bonus scheme was written in as part of the contract when the government nationalised the bank and was also made public...the fact that they seem to have conveniently forgotten this in a lot of the news outlets really rather irritates me.

Afaik, when the debt is repaid, it will be a private company again? Thus why should this be looked at any differently from a normal bank-loan. When a company borrows money off the bank, providing they service the debt, the bank has no business telling the company how to run its compensation scheme, and as I see it the government has no business here (assuming that it's a commercial loan with interest)
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Old 22-01-2009, 02:15 PM   #15
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Re: In the words of the virgin mary..

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Originally Posted by Betty_Swallocks View Post
The people I want to see punished are the gamblers in the city. I think all the senior people in all these hedge funds and banks should not only be sacked and prevented from ever working in any form of financial industry but they should have all, and I mean ALL of their assets confiscated. Leave them totally penniless and without a roof over their heads as they have done to so many others.

Is that entirely fair?

Yes they are gamblers, however they are operating inside a legal framework. The attention here needs to be pointed at the government and the FSA. These guys have been acting legally, and if you don't like that, you should either move your pension fund (who back a *lot* of the hedge funds) or your investment manager to one that operates more 'ethically' (i doubt anyone was complaining when their pension funds were returning double digit growth during 2001-2007)

The government clearly has the power to intervene (a point proven when they suspended the ability of traders to short-sell), and thus in my book one can table all the woes of the moment firmly at the governments door (who incidentally should be funding the FSA *not* the city as is currently the case).

With that said and done, as far as I'm concerned, what Gordon Brown and his misguided colleagues are doing is a direct benefit to me. The more the pound weakens on the international market, the better my position in the states becomes, and the more my relocation allowance is worth (as it's paid in Dollars rather than Sterling).
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Old 22-01-2009, 02:15 PM   #16
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Re: In the words of the virgin mary..

afaik when the debt is repaid the bank will still be owned by the government.
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Old 22-01-2009, 02:18 PM   #17
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Re: In the words of the virgin mary..

OK, fair enough, I wasn't aware exactly how it had been nationalised (lots of smoke/mirrors here).
In that instance as a major shareholder, the government has the rights to put people on the board that would have a say in things such as this. The fact that they haven't speaks volumes...
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