Now this is just disgusting
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
• 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.
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?
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.
• 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.
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