Bob Piper has been a Labour Councillor for the Abbey
Ward in Sandwell, West Midlands, for 10 years. He is a lifelong supporter of Aston Villa Football Club and a follower of Yorkshire County Cricket Club.
The views expressed here are mine in a personal capacity, not those of the Labour Party, Sandwell MBC, Aston Villa or Yorkshire County Cricket Club. Get it! Mine... just mine!
Promoted by Bob Piper of 115 Barclay Rd, B67 5JZ on behalf of the Labour Party, care of 39 Victoria Street London, SW1H 0HA . Hosted (printed) by Swaithe Internet Solutions who are not responsible for any of the contents of these posts.
Please note however, that The Labour Party is not responsible for the content of this website or individual posts as, unless specifically stated, I am writing solely in a personal and individual capacity.
Promoted by Bob Piper of 115 Barclay Rd, B67 5JZ on behalf of the Labour Party, care of 39 Victoria Street London, SW1H 0HA . Hosted (printed) by Swaithe Internet Solutions who are not responsible for any of the contents of these posts.
Please note however, that The Labour Party is not responsible for the content of this website or individual posts as, unless specifically stated, I am writing solely in a personal and individual capacity.
So, which Stalinist mobster said the following....
"Let's end the big cash bonuses. If there's spare cash at the bank it should be lent out to small businesses, medium businesses, to help people keep their jobs."
(errm... Gideon Osborne- October 2009)
And which sneaky red-under-the-bed was quoted as saying...
"it is infuriating to listen to all this stuff about 'existing contracts must be kept to'. There would not be any contracts, there would not be any salaries, there would not be any bonuses if the taxpayers had not stood behind some of these institutions. The bankers have got to have one of those 'wake up and smell the coffee' moments."
Personally I think this whole "bankers bonus's" nonsense is exactly that.
I really don't care if some banker makes a million pounds a second in London. All I care about is that my money is safe, i'm getting a good rate on savings/mortgages/loans/credit cards etc.. and that i'm not getting punitively charged because "I dare" to go 5p into my overdraft for a day.
That's all anyone really cares about. What effects them. Just regulate the banks so my money is safe and that they can't essentially steal money from me for punitive reasons and i'll be happy.
They can pay their employees whatever the hell bonus they like as long as i'm not being adversely effected.
Sevillista said:
November 16, 2009 11:23 PM | permalink
John
You should care.
At the present time, banker's bonuses are built on taxpayers expenditure which has made their diabolically bad loans and investments good. This includes banks such as Goldmans and Barclays that have not needed direct support as the indirect support was sufficient. Surely the Government should claim this back for the taxpayer as far as possible?
Before the crisis, bankers bonuses were built on paper investments that were worth nothing - again built on public subsidy.
Corporate governance is weak and bankers tend to get large bonuses for average performance. Until this is resolved the Government has a duty to intervene to both protect investors in banks and recoup taxpayers money that has propped them up.
Easier to whinge about £900 per head MoD bonuses I guess.
November 16, 2009 5:30 PM | permalink
He is well named.
They are no longer "Private Institutions".
Where has he been?