Home› Archived Forums› Politics

Vince Cable..bank bonuses "offensive".

RichmondBlueRichmondBlue Posts: 21,279
Forum Member
✭✭✭
in Politics #1
Speaking on BBC1's The Andrew Marr Show, Vince Cable described the expected 'enormous' pay-outs in the forthcoming bonus round as 'offensive'.
'The banks are ultimately underwritten by the state, they effectively have a state guarantee. That's what makes the enormous payments so offensive.'


If Osborne thought Project Merlin would just make this issue disappear, he's mistaken. The public are not in the mood to forgive and forget, while the bankers still reward themselves billions.

Comments

  • J LeninJ Lenin Posts: 3,228
    Forum Member
    ✭✭✭
    #2
    RichmondBlue wrote: »
    Speaking on BBC1's The Andrew Marr Show, Vince Cable described the expected 'enormous' pay-outs in the forthcoming bonus round as 'offensive'.
    'The banks are ultimately underwritten by the state, they effectively have a state guarantee. That's what makes the enormous payments so offensive.'


    If Osborne thought Project Merlin would just make this issue disappear, he's mistaken. The public are not in the mood to forgive and forget, while the bankers still reward themselves billions.

    These bonuses are nothing less than obscene.
  • deptfordbakerdeptfordbaker Posts: 22,368
    Forum Member
    ✭✭✭
    #3
    I'm fed up of hearing about this subject. Capitalism dictates that if a business fails, it goes to the wall, the government doesn't bail them out. Politicians bailed them out and now they have them by the balls.

    No point whining about it now.
  • VennegoorVennegoor Posts: 14,648
    Forum Member
    ✭✭
    #4
    ItJustMyOpinion wrote: »
    I'm fed up of hearing about this subject. Capitalism dictates that if a business fails, it goes to the wall, the government doesn't bail them out. Politicians bailed them out and now they have them by the balls.

    No point whining about it now.

    Sadly, this.

    The next crash will happen in this decade because there are now no cosnequences for banks.
  • Turnbull2000Turnbull2000 Posts: 7,588
    Forum Member
    ✭
    #5
    Let's abolish bank bonuses. Let the money come to the treasury directly from the banks themselves rather than the employees. Ok, the money will then only be subject to business corporation tax (23%) rather than individual income tax (up to 50%) so the deficit will likely worsen, but it'll definitely make good headlines.
  • Net NutNet Nut Posts: 10,286
    Forum Member
    ✭✭
    #6
    Vince Cable’s support of the Tory party is offensive.
  • KnopKaKnopKa Posts: 80
    Forum Member
    ✭
    #7
    Vince Cable is right.
  • tysonstormtysonstorm Posts: 24,609
    Forum Member
    ✭✭✭
    #8
    Net Nut wrote: »
    Vince Cable’s support of the Tory party is offensive.

    Saint Cables support of anything is offensive. :D
  • Lincoln HawkLincoln Hawk Posts: 1,783
    Forum Member
    ✭✭✭
    #9
    Labour bailed the banks out. If they wanted to reign in bonuses they could have set conditions that made this the case. They did not.

    No banks should be bailed out in the future. If they fail, let them go out of business. The precedent has to be set.
  • JS477JS477 Posts: 1,489
    Forum Member
    ✭✭✭
    #10
    Lincoln Hawk wrote: »

    No banks should be bailed out in the future. If they fail, let them go out of business.

    Yeah great idea, people go to a cashpoint machine to get their money out and guess what there's no money there. :rolleyes:
  • Lincoln HawkLincoln Hawk Posts: 1,783
    Forum Member
    ✭✭✭
    #11
    JS477 wrote: »
    Yeah great idea, people go to a cashpoint machine to get their money out and guess what there's no money there. :rolleyes:
    People will have to think more about where they bank.
  • JS477JS477 Posts: 1,489
    Forum Member
    ✭✭✭
    #12
    Lincoln Hawk wrote: »
    People will have to think more about where they bank.

    What a great idea. :D
  • alcockellalcockell Posts: 25,160
    Forum Member
    ✭✭✭
    #13
    As long as he is referring to the *investment bank* bonuses. The *branch retail* side - the staffers are probably getting far less. But they generally get it in the neck as they're the public face of the banks concerned.. but they generally have no control.

    They've probably deserved every penny of theirs...
Sign In or Register to comment.