Should the government veto the bonus bankers get?

http://www.guardian.co.uk/commentisfree/poll/2009/dec/04/rbs-bank-bonus-hester

It appears that I am at odds with the vast majority of the poll. I am part of 6% that believe RBS should not have its bonus payment fund limited.

Most people are still angry about what has happened and think that the bankers have screwed us over.  We that maybe but we are way past that now.  The British government OWN that bank. 

Now if I owned a business I would want the best and brightest working for me.  I would not want those that could not get a job working anywhere else, because my business would sink like the titanic.

If the government limits the bonuses given by RBS to its staff, the top 10 to 20% will leave for Barclay's or any of the 100 other banks that will pay the going rate.  The business will suffer and the 56 billion pound investment will be lost.  In 5 years time the money we put into the bank could be worth 66 billion or it could be worth 46 billion. 

By removing the top 10% to 20% of staff which way will OUR investment in the bank go?

If people want to punish fat cats then do that via a tax, if you want to prevent the same thing happening again read history (this is a natural cycle).

When I heard that we were bailing out the banks and taking ownership of them I was not worried because it was an investment, in the future that asset would be worth something.  However now we see that the papers and politicians are going to destroy that asset because of an emotional response to someone driving a better car than them.

Popular posts from this blog

Windows Server and the Task Scheduler Error Code 0x3

The living wage failure

IDE's and speed