Discussion in 'The NAAFI Bar' started by davidflies, Jul 5, 2012.

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  1. davidflies

    davidflies War Hero Book Reviewer

    I don't know about the rest of you but I read yesterday that Diamond got £100 MILLION pay in his last 7 years at Barclays. Further he is supposed to get another £20 mill for quitting.
    I was so bloody angry when I read thais I forgot to get the petrol discount at Morrisons!
    How can anyone who presides over what looks like (read: apparently) a major misapplication (left out the "F" word out of respect for the legal people) of banking ethics (???)...
    I'll stop, I'm fed up with phrasing this so that I don't get done for libel.
  2. Don't you dare say nasty things about my sugar daddy. I think you'll find he's very generous for little effort. I love how he cums quickly when I finger his saggy hoop and call him Shirley.
    • Like Like x 1
  3. davidflies

    davidflies War Hero Book Reviewer

    I should have known it Jarrod!
  4. And, and he's a feckin' a Septic.

    FFS can we Brits not be allowed to screw our own banks?
  5. Did CGS resign after Gary Bartlan was found guilty of abuse?

    So then your angered by the absolute amount he got paid. Is that because it's a public company or again just the absolute amount?

    People don't seem to be angry about Richard Brandson's billions he pays himself in tax efficient dividends from private companies.

    If you don't like high compensation in public companies, write to your pension fund manager saying you want him to vote down generous remuneration, go to the AGMs of any share investments you have, and vote for the communist party of the UK if you really feel strongly about it.

    Shareholder activism like the above has started (in the last 3 months) and it's working - pay is starting to materially come down.
  6. He's dual nationality (Anglo-Septic).
  7. And you've still not sent me my book. I'm going to get Daddy to buy me my own mongrel and I'll make stories up.
  8. TheIronDuke

    TheIronDuke LE Book Reviewer

    If you kept the till receipt you can take it in next time, give them your Morrisons card and they will input your points by hand.

    Hmm. Yes. Libel is a major concern. Particularly when dealing with Bob Diamond. The thieving fucking Septic cunt who was CEO of Barclays Bank until the child molesting murdering drug smuggling nonce twat got done for plotting to drop a yellow-cake dirty bomb on HM The Queen when she opened the London Olympics 2012... get your child porn here from Bob Diamond ex-CEO of Barclays two for one while stocks last.

    There you go Dave. Now you can tell us what you think.
  9. TheIronDuke are you insane? No really!

    Think about this.

    Bob Diamond and the Queen are really, really good friends.

    I mean she's giving out the Diamond Jubilee medal this year!
  10. Wordsmith

    Wordsmith LE Book Reviewer

    Here's a link to a research paper in behavioural economics.

    The authors argue that if the bonuses get too big, it distorts judgement. (My bold)

    While I am aware that the roots of the banking crisis are complex, I can entirely buy the argument that if you make the potential bonuses too high, people will take exceptional risks to get them.

    If a banker is worth £10 million a year, pay him £8 million basic salary, with a potential £2 million in bonuses. If he's not worth £10 million a year, why are you giving him the opportunity to earn huge bonuses?

    • Like Like x 1
  11. Wordsmith, I've no problem with that argument. I would think though at some point the inelastic relationship breaks down: if you're wealth is $200mm do you really care if you get paid $8mm or $11mm? I think the most pertinent point is the misalignment of interests of the individual vs the firm when there's high remuneration on offer vs relative wealth of the individual.

    I was interested in where the OP's ire came from. Was it the remuneration for what appears to be a utility, publicly traded, or just the absolute amount?
  12. mercurydancer

    mercurydancer LE Book Reviewer

    You forgot to post the youtube link of Bob Diamond breaking kitten's spines and setting them on fire, laughing whilst they try to extinguish the flames with their poor tongues.
  13. Wordsmith

    Wordsmith LE Book Reviewer

    There are two things that I've always been puzzled about with respect to the bonuses, which I believe often come out at between 25% - 50% of the banks operating profits.

    Shareholders: why aren't they more active in scrutinizing the level of bonuses? After all, what's not paid in bonuses becomes available for distribution as extra dividends or as reinvestment into expanding the bank's activities. Too high a percentage of bonuses paid out is surely detrimental to the banks long term growth.

    Customers: I can never understand why the big corporate customers don't push harder for reduced prices from the banks. The levels of bonuses paid to (say) investment bankers must surely suggest to those companies that there is room for a cost reductions in underwriting fees, etc.

  14. Quote "I was interested in where the OP's ire came from."

    Daily Mail I imagine.
    • Like Like x 1
  15. Shirley not, jarrod. The image is just too repulsive .... er, is he tied up at the time?