Why is Bob Diamond being grilled over his bonus?

Participant

Participant

Participant

Caporegime
Joined
13 May 2003
Posts
34,576
Location
Warwickshire
I've just seen a clip on the news of a committee of MPs asking the CEO of Barclays whether or not he would waive his bonus, if offered one.

Answer: none of your damn business! I can't believe the nerve of people. The amount contributed by Barclays to the British economy and they're asking him why they haven't yet made decisions on 2012 lending strategies yet too!

People keep using this provocative word, 'bailout'. Barclays were not bailed out, they were invested in!
 
People like to blame bankers, he's the top paid banker ergo he's to blame.
 
Robbie G said:
People keep using this provocative word, 'bailout'. Barclays were not bailed out, they were invested in!
Click to expand...
No one else was looking to invest in them though were they? Had they not been bailed out lots of people would have been utterly shafted. So they got the company into such a crap state the government were forced to 'invest' in them and then they want massive bonuses for doing such a good job.

No I can't see the problem there either.

edit:
And it is literally our damn business being share holders.
 
Last edited:
burns said:
No one else was looking to invest in them though were they? Had they not been bailed out lots of people would have been utterly shafted. So they got the company into such a crap state the government were forced to 'invest' in them and then they want massive bonuses for doing such a good job.

No I can't see the problem there either.

edit:
And it is literally our damn business being share holders.
Click to expand...

The tax payer does not own any shares in Barclays. They did not accept a Government bailout.
 
i'm pretty sick of the pointless banker bashing, the random interviews with complete strangers on the street about their opinion on the news.. i also find it rich of tv presenters to be bashing bankers when their salaries are usually very high aswell, considering the hours they work/ the qualifications needed, also if people think their bonus' are so unfair, why don't they train to become one?- i've seen (not from personal experience) some of the hours required to get anywhere in the finance world, and frankly i wouldnt be cut out for it..
 
Too many people like to bash bankers instead of the people actually at fault for the public spending crisis...

I notice they aren't campaigning for Gordon brown to have his pension removed and be forced to give his salary back for the sheer destruction he managed on our economy...
 
Robbie G said:
I've just seen a clip on the news of a committee of MPs asking the CEO of Barclays whether or not he would waive his bonus, if offered one.

Answer: none of your damn business! I can't believe the nerve of people. The amount contributed by Barclays to the British economy and they're asking him why they haven't yet made decisions on 2012 lending strategies yet too!

People keep using this provocative word, 'bailout'. Barclays were not bailed out, they were invested in!
Click to expand...

So it's not our business, except when they banking industry has bankrupted itself - then we have to interfere and bail them out. As I said in the other thread earlier today, the bailout consisted of more than just direct loans - essentially UK.gov is underwriting all of Barclay's investments atm.
 
scorza said:
So it's not our business, except when they banking industry has bankrupted itself - then we have to interfere and bail them out. As I said in the other thread earlier today, the bailout consisted of more than just direct loans - essentially UK.gov is underwriting all of Barclay's investments atm.
Click to expand...

Barclays did not ask for any assistance and did not take any assistance. They can do as they please - they are a private organisation and they can pay who they want what they want.

Just like you could if you ever ran a business.
 
Robbie G said:
People keep using this provocative word, 'bailout'. Barclays were not bailed out, they were invested in!
Click to expand...

Quantitive easing helped the banks in massive ways, it was money poured into them, and wasn't subject to share costings, or part govt ownership.

If Mr Barkleys wants the bankers to stop being used as a scapegoat, perhaps he should argue against the next round of quantitive easing the Bank of England issues.
 
[TW]Fox;18203222 said:
Barclays did not ask for any assistance and did not take any assistance.
Click to expand...

Actually I'm pretty sure they did need immediate financial assitance, and they got it from a middle eastern government rather than ours. They also got assistance from the UK government for propping up the banking industry and underwriting bank liabilities.

[TW]Fox;18203222 said:
They can do as they please - they are a private organisation and they can pay who they want what they want.

Just like you could if you ever ran a business.
Click to expand...

They can do as they please when the banking industry can stand on its own two feet and when it has reformed so this situation won't happen again in future.
 
Last edited:
I just don't subscribe to the view that politicians have a basis for questioning him, or anyone else in a similar position, in this manner. Was there some agreement during the ****storm that forced banks to agree to their managers being grilled in such a way?

From a public relations point of view, it wouldn't have been great for B.D. to say 'Sorry, I'm not going to answer your questions', but he's still there voluntarily. There's no legal requirement (I assume) for him to be accountable for his business's bonus structure yet these politicians were treating him almost like a criminal.

I don't remotely feel sorry for BD, but I do question the grounds politicians have for complaining about banking bonuses. They should play by the same rules as others in their stakeholder positions. If they're shareholders, they should vote issues at the AGM and shut up apart from it!

Forgoing a bonus is surely just a red herring anyway, as they'll make it up through less transparent and incendiary benefits.
 
scorza said:
Actually I'm pretty sure they did need immediate financial assitance, and they got it from a middle eastern government rather than ours. They also got assistance from the UK government for propping up the banking industry and underwriting bank liabilities.



They can do as they please when the banking industry can stand on its own two feet and when it has reformed so this situation won't happen again in future.
Click to expand...

Barclays took foreign private investment and it can stand on its own two feet.

You are wrong.
 
Of course. There is no problem. Everything is okay. The bankers are working for your benefit, not their own and their already massive salary is most certainly not enough, never mind these tiny sums, even those of us who are struggling to afford food and shelter should dig deep and pay them out of our own pockets. All money to the kind hearted bankers!
 
You must log in or register to reply here.
Back
Top Bottom