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Deleted member 49
Guest
You sound like Trump 🙄
Liz Truss - the first 100 days....
- Thread starter Fab Foodie
- Start date
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Rusty Nails
Country Member
I have been known to trump.
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Deleted member 49
Guest
Craig the cyclist
Über Member
I wonder, could anyone enlighten us to who 'the bankers' actually are?
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Deleted member 49
Guest
No caps on Bankers pay but caps on Nurses...Who's names would you like ? Shall we start with it won't be anyone on the counter in your local branch.
Rusty Nails
Country Member
Not the people who used to work on the desk at your local branch.
Craig the cyclist
Über Member
How about the mortgage advisers in my local branch? They get a performance related bonus?
Craig the cyclist
Über Member
Or to put it anther way, no cap on what a private company can pay their staff, but a cap on what the public purse can sustain.
Craig the cyclist
Über Member
The question wasn't 'who isn't a banker' in this context. The question was 'who is'?
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Deleted member 49
Guest
Are they not paid enough ? If so why not.I read it as the cap means bonuses are limited to 2x annual salary (on top of said salary),potentially tripling annual salary. With no cap,it's as much as they like.
The cap came after the 2008 crash didn't it ? Whilst the rest of us are just supposed to show some "wage restraint"
Rusty Nails
Country Member
It is the people in the major banks and financial institutions who make their money out of moving money around the various institutions. Where money itself is the commodity rather than growth in the economy or the industries they are there to supposedly support, and where the bonuses are there for just sloshing money around inside those institutions increasing their income.
Truss's argument, if she actually has an argument, is that increasing their income will somehow convert, via some imaginary trickle-down process, to increased success/growth of the economy without actually being able to describe how that process will work. Even Biden, from the high temple of capitalism is mocking the idea of trickle-down as a policy.
Truss's argument, if she actually has an argument, is that increasing their income will somehow convert, via some imaginary trickle-down process, to increased success/growth of the economy without actually being able to describe how that process will work. Even Biden, from the high temple of capitalism is mocking the idea of trickle-down as a policy.
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Deleted member 49
Guest
Is this one of those open goals for Starmer 🙄
Rusty Nails
Country Member
Craig the cyclist
Über Member
Your measure then, as proposed above, is that they get paid 'enough'.
If you work in a bank, live alone in a one-bedroom flat with a small cat and have a gym membership at your local gym, mostly ride a Ribble bike on the cycle scheme and have a small car for trips at the weekend, mostly shop in Lidl and Aldi and a Netflix account then £34,000 will probably be enough to leave you £50 to put in your savings at the end of the month.
If you work in the banks Head Office, have a flat in London, a house in Cornwall, a flat in Les Arcs, 2 children at public schools, you and your wife belong to a very swanky gym in London, you are in 3 golf clubs and have a choice between one of the three Pinarellos, the Range Rover, Volvo estate or the Ducati to get to work, eat out 4 times a week and have dinner cooked by the nanny who has access to your Ocado delivery account on the other nights when you aren't out at the theatre, then £2.3m may actually be a bit tight. Leaving you with £25 to put in your savings at the end of the month.
So using your logic, person 2 should get the pay rise.
Using the generic term 'bankers' creates a monster figure that people can rail against, in reality this person does not exist. In reality the 'banker' is lots of professions that earn what you perceive to be excessive money. I can remember when the legal aid argument was in full swing we were being told that greedy rich barristers were fleecing the public purse for £m's and it had to be clamped down on. Now it appears that they are the poor downtrodden barristers who, because they are going on strike, seem to be enjoying support from people who called them money grabbing leaches a short while ago.
Bromptonaut
Rohan Man
- Location
- Bugbrooke, Northants
Those people who move around the very large sums representing the monies the banks have for us or assets they've loaned to us. Their role is to make profit from what are, in percentage terms, small gains on those very large sums. The 2007/8 crash was, in part at least, down to increasingly risky behaviour driven by huge bonuses payable for activity driven by targets etc.
Other factors, not least lack of regulation, were also in play.
