Banks giving Big Bonuses Again!

GreenfaolStarred Page By Greenfaol, 7th Jan 2011 | Follow this author | RSS Feed | Short URL http://nut.bz/q2c0e4i0/
Posted in Wikinut>News>Business

Big banking is big business but yet again, they are paying billions of pounds worth of bonuses out, out of the public’s pocket.

Spending spree

Who is regulating these banks and why do they manage to continually get away with this kind of behaviour? The government seem to sit on their hands as banks continue to ignore their calls to curtail this spending spree.

While they have reduced the amounts of the bonuses given out since last year, salaries have increased by as much as 40%! In what other career would you receive a salary increase of 40%? This is a most foolhardy and selfish idea. At no point has production increased by enough to allow a tenth of this increase and yet they continue to spend public money as though it were their own.

Royal Bank of Scotland, for example

The government freely admits that it cannot control the banks, and indeed that they now know that anything the banks tell them about the size of bonuses will be an underestimate.
It is currently estimated the Royal Bank of Scotland will reduce their bonus from last years £1.3 billion to £1 billion pounds! RBS is a publicly owned company. Just where do they think this money is coming from? Robert Preston of the BBC states that banks are to pay out, in bonuses, billions of pounds. http://www.bbc.co.uk/news/business-12131092

Rather than paying their employees ludicrous amounts of money, should banks like RBS not be paying the government back some of the money they used to help them out of financial crisis last year?

They should pay us!

The government has asked banks to pay more loans to small business to keep them afloat in these difficult times, as a concession to the bonuses.
At a time when public opinion of banks is at an all time low, they slap us in the face. Just who are their spin doctors? Would it not look a great deal better if senior members of staff donated their bonuses to the government as payback? Only this sort of action is going to appease the already angry public.

A final note..

I think this is the very least they can do, given the fact that they are ignoring the government on so many other grounds. In the meantime, small business, I would not hold my breath for these loans either.

Tags

Banking, Banks, Bonuses, Government, Government Spending, Money, Money Lenders, Public Money, Royal Bank Of Scotland, Small Businesses

Meet the author

author avatar Greenfaol
I write a variety of things, from health to cooking, to spiritual, to everyday living. Writing is a passion, and I am trying to become a professional.

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Comments

author avatar christopheranton
8th Jan 2011 (#)

Very well said, although I would mantain that
those banks who did not recieve public money
can pay whatever bonuses they want.

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author avatar Doug
22nd Feb 2012 (#)

Ditto

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author avatar ppruel
8th Jan 2011 (#)

Great info dude. Thanks for sharing.

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author avatar Jerry Walch
8th Jan 2011 (#)

Good information Norma. I know very little about banking in the UK.

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author avatar Carol
8th Jan 2011 (#)

Thanks for that. It's not right is it?

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author avatar Greenfaol
8th Jan 2011 (#)

Totally agree Christopher :D
ppruel, dudette rather than dude, but thanks anyway :D
Cheers Jerry ;o)
Not right at all, Carol. I honestly do not know of a more disliked group of workers at the moment. Even traffic wardens are loved in comparison to these people. Thanks all for your comments :D

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author avatar Rob Kentworth
8th Jan 2011 (#)

You've gotta love banks.

1) They can freely with-hold funds if they want even if there's no suspicious, just because there might be a slight chance. Bottom line, they don't want to stand even the slightest chance of losing a penny and then there's the £1 a day the Halifax is charging if you go overdawn (even if it's arranged and something like £3). Rediculous.

2) They get us into the whole economic mess and we're expected to bail them out.

3) They spend our money on bonuses as mentioned in your article, Green.

4) They have reduced interest rates a lot.

Thanks for sharing at any rate, Green. In the UK myself.

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author avatar Greenfaol
8th Jan 2011 (#)

Completely shocking, isn't it? I just wish someone would hold them accountable. Thanks for commenting :D

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author avatar Denise O
8th Jan 2011 (#)

Another fine piece my friend. Heck even car salesman are more liked. LOL
Sad situation. Congrats on the star page hon, it is well deserved.
Thank you for sharing.:)

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author avatar Greenfaol
8th Jan 2011 (#)

Sweet, hadn't seen the star!! Thanks Denise :D

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author avatar Denise O
9th Jan 2011 (#)

LOL Cool huh, you deserve it.
I accidently came to this page, oops!
Oh well another hit for ya hon.:)

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author avatar Adsaff adsadsd
9th Jan 2011 (#)

I agree with you and with what Christopheranton said. Great article ;)

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author avatar TNT_Brian
9th Jan 2011 (#)

Great article, well worth the star! I totally agree with you and the other commenters. There is never any justification for a 40% salary increase. Something else which really annoys me is how our members of parliament can vote on whether to give themselves a pay rise! That's just ridiculous

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author avatar Greenfaol
9th Jan 2011 (#)

Thanks guys, and that's for coming back, Denise ;op

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author avatar Retired
11th Jan 2011 (#)

Very nice info.

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author avatar grabbedarticles
29th Jan 2011 (#)

Your article is GRABBED ARTICLE #192 in GRABBEDARTICLESDOTCOM . You are now part of this blog .
Thanks and goodluck!
-MPA

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author avatar Greenfaol
28th Mar 2011 (#)

jinkai99, DO NOT SPAM MY WORK. I will contact the company and let them know you are doing this and it is putting people off their site.

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