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Re: RBS Failure Report
Boris Johnson: Far-Fetched To Think RBS Bonus System Out Of Ministers' Control
Boris Johnson: Far-Fetched To Think RBS Bonus System Out Of Ministers' Control
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Re: RBS Failure Report
Blimey - I'm beginning to have affections for that loose cannon, Boris.
Should I get some counselling - or am I "OK" ???Comment
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Re: RBS Failure Report
This is just a smoke and mirrors situation to see how the public react before the other bonuses at other banks are announced,as said before and in other threads this bank should not be trading they were hours away from being closed they were trading insolvently,the board before this man had told the share holders a pack of lies,and the government still let the taxpayer bail them out,IMO Mr Hester looks to be breaking up the bank,this bank is owned by the tax payer and it is the tax payer that is paying this bonus,they are laughing at us,regards Streetwise.:billk:Originally posted by Angry Cat View PostComment
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Re: RBS Failure Report
your fine Bill-K,by:=Bill-K;245583]Blimey - I'm beginning to have affections for that loose cannon, Boris.
Should I get some counselling - or am I "OK" ???
Boris is right!
Mr Johnson said he was at a loss to justify the "absolutely bewildering" bonus of 3.6 million shares worth nearly £1m and said it should have been vetoed by the Government. He said: "The idea this is not in the control of the Government seems to me to be far-fetched."
Mr Johnson said Mr Hester, right, whose salary is £1.2m, was "an able man probably doing a difficult job". But the Mayor added: "It certainly seems to me to be right that the Government should step in and sort it out. People will not understand how somebody can get a whacking great bonus when they are basically running a state-owned concern."Comment
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Re: RBS Failure Report
What puzzles me is why Fred Goodwin and the directors of those banks bailed out by the taxpayer have not been disqualified from acting as company directors. Any other company directors who ran their company in the way Goodwin and Co ran the banks would be hauled in front of the High Court by the BIS and banned.
Time for change? You bet there is!Life is a journey on which we all travel, sometimes together, but never alone.Comment
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Re: RBS Failure Report
If it had been any other firm, it would have been forced into administration!
If it had been any one else other than a banker, they would now be doing time. Or, out now but on probation!
Even many City insiders, who tend to be knee-jerk Conservatives, argued at the time that they couldn't understand why Osborne didn't just order RBS to turn on the lending taps. And the fact that not a penny has reached a single business more than two months later, despite Treasury officials stressing at the time that it was a crisis measure, underlines how ill-thought-out it was. Osborne is scrambling to find a way of bypassing the banks, despite the fact that he owns a couple.
Watching Hester and his pals on RBS's remuneration committee hold the government to ransom was a perfect example in miniature of the extraordinary grip the financial sector continues to have over the economy. The prime minister said he wanted to build "popular capitalism". Getting a grip on Hester's bonus would have been a great place to start.Comment
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Re: RBS Failure Report
RBS: Mr. Stephen Hester could not have taken any other route, could he?Comment
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Re: RBS Failure Report
Ed Miliband:Hear, hear, Ed."It is right that Fred Goodwin lost his knighthood but I think it is only the start of the change we need in our boardrooms.
"We need to change the bonus culture and we need real responsibility right across the board."
Nick Robinson:...and is that a problem ? It's fine by me !!!Plenty may be wondering whether the committee will now start working through every banker with a knighthood who has since faced criticism for decisions they took in the past.Comment
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