The post you are reporting:
Largely, I'm with Sid, too. But Profit = Bonus, Loss = Sack hasn't happened with RBS, has it? £13bn loss = £1.3bn bonuses, and that from a company that is supposedly publicly owned. This culture of bonuses come what may has to come to an end. Yes, OK, my remarks of sending the worst ones stateside was flippant, but largely my point was that these people get paid far too much. As a society, do we find it right that these people are earning x times as much as Doctors, Lawyers, and others whose worth to society is so much more?
I'm with you, Sid, when you say that we should get behind industry and stop knocking; that includes the banks, who should stop rewarding risk takers with massive bonuses for what they do. Remember Barings? Brought down by a 'rogue trader' trying to earn disproportionately large bonuses for himself, his team and ultimately the bank itself. Massive rewards if the risks work, global economic meltdown if they fail, and that cannot be right. Banks need to get back to core business principles of lending to corporate and individuals alike and shift away from high-risk business that jeopardises national and international economies through pure greed. Sadly, Nick Leeson - the 'rogue trader' whose activities brought about the downfall of Baring Bros - looks to be far from being a 'rogue trader', but one of a number who are prepared to risk all for the massive rewards open to them if they pull it off. That's the culture of City greed I'm on about, where the incentives on offer outweigh what is right and proper.
