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The greedy parasites now have to contend with the law.
Their bonuses have been capped at last.
Let these thieving scum eat cake like the rest of us!
Perhaps they will have to sell one or two of their Parisian penthouses to pay for their next ski-ing trip now
Quote:
European Union officials have struck a provisional deal on new financial rules, including capping bank bonuses. Under the agreement, bonuses will be capped at a year's salary, but can rise to two year's pay if there is explicit approval from shareholders.
I'd like to see the fine print on that. And like you say if they make ten mill a year.............
GM had restriciton on what they paid their execs too. Now that they are selling the shares that stuff starts to go away. But hey Obama isn't running for election against evil CEO's anymore.
with a caveat. If any bank has one PENNY of unpaid TARP , other gov't funds or gov't bought their stock at artificially high prices from which it has not reached again, than, and only than, salaries and bonuses should be capped, with all mgmt paid based on the GS payscale. In short, truly either be a private corp, making your own payscales, or be subject to gov't mandates on pay, as you are than, "de facto" gov't subsidiaries.
They are not thieving bums unless they lie, cheat, and steal.
They are first owners and controllers.
I am against capping salaries.
You must not know too much about 'City Boys' as there called in the City of London (UK); the people who make the largest, most lucrative bets are awarded in bonuses that are enough to live in extremely expensive areas of London, but what area of London isn't expensive? The City Boys don't depend on a salary for their income, but as stated above extremely lucrative bounses therefore capping their bonuses is a hope to spur their risk they take in the financial market. As some of us know, the City of London, is one of the most evil places on the planet when it comes to finances because that's literally where most of the cash on the world is transferred through rather its by purchasing stocks, minerals, etc. and it's almost completely unregulated. I'm not sure if this new bonus cap will even affect the City of London because its not really controlled by UK rules, that's how evil that square mile is.
So pretty much City Boys are encouraged to take large (I'm talking billions or even trillions) bets and their awarded with huge bonuses, in the City the larger your bonus the more prestige you have, it really doesn't depend on your salary. In fact the city of London is considered so evil that its globally recognized as the money laundering capital of the world. I mean, you really have to dig to see why people are so anti-City of London, it's evilness is ridiculous. If you don't want regulation, look there. Not Greater London, but the City of London.
You must not know too much about 'City Boys' as there called in the City of London (UK); the people who make the largest, most lucrative bets are awarded in bonuses that are enough to live in extremely expensive areas of London, but what area of London isn't expensive? The City Boys don't depend on a salary for their income, but as stated above extremely lucrative bounses therefore capping their bonuses is a hope to spur their risk they take in the financial market. As some of us know, the City of London, is one of the most evil places on the planet when it comes to finances because that's literally where most of the cash on the world is transferred through rather its by purchasing stocks, minerals, etc. and it's almost completely unregulated. I'm not sure if this new bonus cap will even affect the City of London because its not really controlled by UK rules, that's how evil that square mile is.
So pretty much City Boys are encouraged to take large (I'm talking billions or even trillions) bets and their awarded with huge bonuses, in the City the larger your bonus the more prestige you have, it really doesn't depend on your salary. In fact the city of London is considered so evil that its globally recognized as the money laundering capital of the world. I mean, you really have to dig to see why people are so anti-City of London, it's evilness is ridiculous. If you don't want regulation, look there. Not Greater London, but the City of London.
As I note above, these bans are easy to get around. This is NOT how to deal with this. You deal with this by allowing them to make bad bets and when they blow up in their face you watch them go under.
I'm generalizing here but those who complain about high salaries and bonuses the most are the most unwilling to actually complain about the reasons for this. Government policy.
In this country Jack Lew is going to make sure this transfer from main street to Wall Street will keep on it's way. Where was the complaints over his nominations from those who despise these policies?
It's government interference that has allowed the huge bonuses, not the greed of those in question. They would not have the money to give out this money right now if it wasn't for the government.
As I note above, these bans are easy to get around. This is NOT how to deal with this. You deal with this by allowing them to make bad bets and when they blow up in their face you watch them go under.
I'm generalizing here but those who complain about high salaries and bonuses the most are the most unwilling to actually complain about the reasons for this. Government policy.
In this country Jack Lew is going to make sure this transfer from main street to Wall Street will keep on it's way. Where was the complaints over his nominations from those who despise these policies?
It's government interference that has allowed the huge bonuses, not the greed of those in question. They would not have the money to give out this money right now if it wasn't for the government.
I can agree, in my post above I wasn't really agreeing nor disagreeing with bonus caps but staying that the riskiness of their bets comes with a lucrative bonus but if the bet goes wrong, we all suffer. So what can we do to prevent these bankers from these massive bets? Tax the bets? Cap bonuses? None of us really know considering the financial world flies under the radar so much.
We do know. If I make a bad bet nobody gives me all of my losses back. Same should have been done with the banks. Now what do they care? The precedent has been sent. Bet, bet, bet and when it all finally bites them the goverment will step in and eat the losses by making the taxpayers responsible for them.
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with a caveat. If any bank has one PENNY of unpaid TARP , other gov't funds or gov't bought their stock at artificially high prices from which it has not reached again, than, and only than, salaries and bonuses should be capped, with all mgmt paid based on the GS payscale. In short, truly either be a private corp, making your own payscales, or be subject to gov't mandates on pay, as you are than, "de facto" gov't subsidiaries.
