Now this is just disgusting

@egdcltd (6896)
February 10, 2009 6:00am CST
I've heard that there's been a similar fuss in the US about this sort of thing. Basically, banks that have failed or been supported by the UK government were still panning to pay bonuses to their senior executives. What, exactly, are they getting bonuses for? Total incompetence? Normal people who made such a mess of things would get the sack, not a reward. I hope they see sense and decide not to get the bonuses, as long as they then don't make out they're being generous for doing so. http://news.bbc.co.uk/1/hi/uk_politics/7878418.stm http://news.bbc.co.uk/1/hi/business/7878769.stm
2 people like this
7 responses
@baileycows (3669)
• United States
10 Feb 09
Well I guess it is good to hear that the US is not the only one that is having this problem, but really if you think about it you know what this means!!!! When all the nations are failing and they crash at an exact moment then you will have the beginning of a New One World Order. We have to stay aware and know the truth of what is going on and stop relying on the government to be our heroes they are creating this mess.
1 person likes this
@egdcltd (6896)
10 Feb 09
In a way, it would be nice to think this was all part of some strategic plan - even if it's a bad one - rather than thinking that all our leaders really are as incompetent as they seem.
1 person likes this
@stacyv81 (5904)
• United States
9 Mar 09
WOW! I am speechless to be honest...what are they thinking? And what does that say about them? Although, its big business, wouldnt put it past them lol
@egdcltd (6896)
9 Mar 09
The government are pressuring a former (now retired) exec from one of the companies to give up his pension. Now, whilst I agree he doesn't really deserve it, this would create a worrying precedent if they legislate to make him do so. Once something is done for a good reason, it's easier to do it next time for a reason that isn't as good. How long before everyone's pension is at risk if they go down that route?
@stacyv81 (5904)
• United States
9 Mar 09
That is true, he did work for it, and wasnt fired, therefore we can technically say he earned it.
@jwfarrimond (4474)
18 Feb 09
I'm sure that I remember hearing that the bonus's were "being reduced to the legal minimum." That sounds like these idiots are legally entitled to a minimum bonus regardless of how badly they performed! Surely that can't be true??
@egdcltd (6896)
18 Feb 09
I'd hope not, although I wouldn't be surprised. I really don't think you should get a bonus no matter how badly you do your job.
19 Feb 09
I agree. A bonus should only be payable out of profits or on the basis of individual performance. It follows that if there are no profits or profits fall or an individual performs badly then there should be NO bonus paid. It is after all a reward for performance above and beyond what would be normally expected of a person. That's my view anyway.
@laglen (19782)
• United States
10 Feb 09
Yes this is happening in the US. There is absolutely no proof that this will work. And actually there is proof that it will not. When government shoves it's nose into private industry, nothing good happens.
@egdcltd (6896)
10 Feb 09
There's no situation so bad that a politician can't make it worse.
1 person likes this
• United States
10 Mar 09
Boy isn't that the truth!
@riyasam (16578)
• India
12 Feb 09
this is really ridicuolous!!!all around the world,people are losing their jobs due to ecomic recession and to think some people are being benefitted for nothing. happy posting.
@egdcltd (6896)
12 Feb 09
Benefiting from doing worse than nothing. After all, they are a large part of why we're in this mess. Maybe they weren't directly responsible, but the overall responsibility is theirs.
@irisheyes (4373)
• United States
10 Feb 09
Oh it was worse than a fuss over here. It was more like a big stink. lol The very banks that were sitting on the first bailout money (money supposed to go quickly into the economy) were rewarding themselves left and right with huge bonuses and expensive spa retreats. Then the automakers went to Washington in private jets to plead for money. As your article stated Obama set a limit on their salaries and said no bonuses but I don't think they could do anything about the money that they had already squandered. Hopefully, they have riled the people and the US government enough that some of the banking regulations removed over the last several presidencies will be restored.
@egdcltd (6896)
10 Feb 09
I'm not sure it's regulations that are needed, rather than just common sense. Allowing kids in their twenties to control so much of other peoples money is just plain stupid.
@cambiste (1245)
• India
19 Mar 09
The one in US just recently got caught - by the president himself. He demanded that the company pays back the bonuses that was paid with the grants. Things like this get caught sooner or later - and it depends on the action the authority takes against such. Happy mylotting