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HSBC Head: 'Bonus Tax Is Threatening The City'
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Author:  pcernie [ Thu Jan 21, 2010 12:03 am ]
Post subject:  HSBC Head: 'Bonus Tax Is Threatening The City'
http://news.sky.com/skynews/Home/Busine ... 2118?f=rss

He makes some good points I think on what the rest of the world is doing and so on, but the banking sector in the UK has nobody but itself to blame for it's exposure to unfavorable conditions...
Author:  paulzolo [ Thu Jan 21, 2010 10:01 am ]
Post subject:  Re: HSBC Head: 'Bonus Tax Is Threatening The City'
pcernie wrote:
http://news.sky.com/skynews/Home/Business/The-City-Is-Being-Threatened-By-Bank-Bonus-Taxes-HSBC-Head-Michael-Geoghegan-Tells-Sky-News/Article/201001315532118?f=rss

He makes some good points I think on what the rest of the world is doing and so on, but the banking sector in the UK has nobody but itself to blame for it's exposure to unfavorable conditions...


HSBC is lucky - they got away with it. Other banks were not so lucky, and he is pissed because his bank is subject to the same laws as all the others. The game is up.
Author:  HeatherKay [ Thu Jan 21, 2010 10:15 am ]
Post subject:  Re: HSBC Head: 'Bonus Tax Is Threatening The City'
In my opinion, bankers need to just shut up and swallow their medicine. Moaning about how unfair it all is doesn't make us feel sorry for them.
Author:  timark_uk [ Thu Jan 21, 2010 10:16 am ]
Post subject:  Re: HSBC Head: 'Bonus Tax Is Threatening The City'
HeatherKay wrote:
bankers need to just shut up
+1

Mark
Author:  adidan [ Thu Jan 21, 2010 10:36 am ]
Post subject:  Re: HSBC Head: 'Bonus Tax Is Threatening The City'
My heart bleeds.

We bail them out with billions and yet they get bonuses when their jobs, at present, are some of the easiest you can get. I mean, making money on that that they can get at 0.5% and passing it on in loans of 10%.... Tricky job, give the frakkers a bonus.

They should count themselves lucky, in the States they are getting taxed on their assets.
Author:  paulzolo [ Thu Jan 21, 2010 12:30 pm ]
Post subject:  Re: HSBC Head: 'Bonus Tax Is Threatening The City'
adidan wrote:
My heart bleeds.

We bail them out with billions and yet they get bonuses when their jobs, at present, are some of the easiest you can get. I mean, making money on that that they can get at 0.5% and passing it on in loans of 10%.... Tricky job, give the frakkers a bonus.

They should count themselves lucky, in the States they are getting taxed on their assets.


In the State, Obama has said that if they can pay bonuses, they can repay their loans. I don’t hear that kind of tough talking coming from our leaders.
Author:  Linux_User [ Thu Jan 21, 2010 12:56 pm ]
Post subject:  Re: HSBC Head: 'Bonus Tax Is Threatening The City'
Sod the city. :evil:
Author:  Linux_User [ Thu Jan 21, 2010 12:56 pm ]
Post subject:  Re: HSBC Head: 'Bonus Tax Is Threatening The City'
paulzolo wrote:
adidan wrote:
My heart bleeds.

We bail them out with billions and yet they get bonuses when their jobs, at present, are some of the easiest you can get. I mean, making money on that that they can get at 0.5% and passing it on in loans of 10%.... Tricky job, give the frakkers a bonus.

They should count themselves lucky, in the States they are getting taxed on their assets.


In the State, Obama has said that if they can pay bonuses, they can repay their loans. I don’t hear that kind of tough talking coming from our leaders.


No, and yet RBS found the money to fund the Kraft/Cadbury deal!! :evil:
Author:  adidan [ Thu Jan 21, 2010 1:49 pm ]
Post subject:  Re: HSBC Head: 'Bonus Tax Is Threatening The City'
Goldman Sachs have just made £3.06 billion in the last 3 months...

They've, apparently, changed their payment structure and Barclays are suggesting they may change theirs. I'm not holding my breath though for it to be anything praiseworthy.
Author:  jonbwfc [ Thu Jan 21, 2010 2:15 pm ]
Post subject:  Re: HSBC Head: 'Bonus Tax Is Threatening The City'
Tax ? Threatening? If it was up to me there'd be armed soldiers at the door of every merchant bank with orders not to allow them out alive until every penny was repaid. That's give 'em threatening.

Jon
Author:  Linux_User [ Thu Jan 21, 2010 2:27 pm ]
Post subject:  Re: HSBC Head: 'Bonus Tax Is Threatening The City'
adidan wrote:
Goldman Sachs have just made £3.06 billion in the last 3 months...

They've, apparently, changed their payment structure and Barclays are suggesting they may change theirs. I'm not holding my breath though for it to be anything praiseworthy.


At least Barclay's aren't leaching off the taxpayer.
Author:  MrStevenRogers [ Thu Jan 21, 2010 4:36 pm ]
Post subject:  Re: HSBC Head: 'Bonus Tax Is Threatening The City'
IMO and IMHO
i believe all bonus payments of all kinds should be stopped and made illegal
but the salaries/wages should increase to compensate, but no bonuses of any kind

profits are up a pay increase profits are down a wage freeze or reduction …
Author:  adidan [ Thu Jan 21, 2010 6:09 pm ]
Post subject:  Re: HSBC Head: 'Bonus Tax Is Threatening The City'
MrStevenRogers wrote:
IMO and IMHO
i believe all bonus payments of all kinds should be stopped and made illegal
but the salaries/wages should increase to compensate, but no bonuses of any kind

profits are up a pay increase profits are down a wage freeze or reduction …

It's a sound premise.

Even in basic Psychological experiments, concerning trading, at the outset traders perform well, make a good profit and do not make too many trades that would threaten their base funds.

As soon as they're put in a competitive team environment all that gets thrown out of the window and greater short term profits are made but at a hugely increased risk to funds.

Your ideology should also extend to MPs. Pay them an increased wage and remove all of the expenses. This will remove any questionable claims and would also put them back in touch with reality when they get an electricity or gas bill and, instead of filing it off to the expenses department, they have a double take and exclaim 'WTF'.
Author:  phantombudgie [ Thu Jan 21, 2010 6:50 pm ]
Post subject:  Re: HSBC Head: 'Bonus Tax Is Threatening The City'
paulzolo wrote:
I don’t hear that kind of tough talking coming from our leaders.


You don't hear any from the Labour Party, ever. The only thing they get tough on is common sense and the will of the employed to bother trying.

jonbwfc wrote:
Tax ? Threatening? If it was up to me there'd be armed soldiers at the door of every merchant bank with orders not to allow them out alive until every penny was repaid. That's give 'em threatening.

Jon


That, sir, sounds like a plan.
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