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What talent?

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R1Geezer | 10:38 Wed 09th Dec 2009 | News
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The boss of Barclays warns of a "mass exodus" of talent, if Darling taxes their bonuses or indeed if they are curtailed in any way As these are the useless showers of sh1te that got us into this mess can someone expalina what "talent" we are potentially losing? and wher would they go?. More to the point can someone tell me What the Fcuk these guys actually do and why they are so "valuable". I work in a bank and I don't have a scooby do what they bring to the party. Thanks.

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Judging by Mandy's evasive answers on the news this morning, it sounds as if Darling will be bottling it anyway. (Or introducing something fairly ineffectual).

If he does do something and all this "talent" leaves - good riddance to them. They seem to get paid ridiculous wages/bonuses or renumeration packages should they actually have to be the one seen to take responsibility for their organisations shortcomings. Most of us work hard, get paid little, and if our employers are struggling get laid off. We don't tend to get bonuses, and we certainly don't get bonuses just for seemingly turning up to work now and then.

What is a counter clerk in a bank on? Around £15k (if that)? I would imagine that some of these guys get BONUSES of £1.5 MILLION. Do they really work more than 100 times as hard?

They're saying that the banks bring in £7 billion in tax - but we have financed them to the tune of £175 billion! As I said in another post, it's no wonder they went bust - maths obviously isn't their forté!
R1 Geezer......wrong.

The Labour Government, the Banks, the greedy public and the non -existent regulation of the banks.

Don't just blame the Bankers R1
Well said, LeMarchand, I couldn't agree more! It seems that you get rewarded more for failure these days. I despair at the way our poor country is in right now. When will it all end?
i suppose their 'talent' is that they turn a large profit for the bank.
it really means nothing to you or i, until that is, they screw everything up we get our houses reposessed their is a global recession and they make it alright again by cutting jobs and counter staff, closing branches thereby reducing costs and maximising proft margin.
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I'm just trying to understand sqad! This so called "talent" didn't seem to help much!
"non -existent regulation "

and who on numerous occasion stopped regulationbeing brought in that would have stopped a lot of the current problems happening ?........

yup good ole prudent Goon Brown whilst he was chancellor of the exchequeor
Surely you are not so illiterate that you cannot get your point across with putting in so many swear words (even if they are altered in some way). I think we can all get your point without the extra swear words.

And to me, anyone who can make millions for their bank has a talent (whether we like it or not).

I heard on the radio this morning about a guy who "earns" 30 million a year, so to "earn" that much he or she must make far more for their bank.

Most of these people work on things like futures markets and hedge funds. They can make more for their bank in one night than the likes of you and I make in our lifetime.

To a bank, anyone who can make millions in one night is worth keeping. If we tax them here they go and work in Switzerland, or Hong Kong, or the USA.
When the whole melt-down started in the USA, there was on TV an interview of a senior Lehman Brothers' executive by one of America's top Paxman-type men. The bank man said they HAD to pay huge bonuses if they wanted to keep (quote) "the best people". The interviewer replied - almost screeching with frustration - "But you didn't HAVE the best people!!"
Same applies here. Call their bluff and let 'em go, I say.
> Do they really work more than 100 times as hard?

It is nothing to do with how "hard" you work.

Does Wayne Rooney work harder than a nurse ?

Does Tom Cruise work harder than a person on a till in a supermaket ?

No, it is about how much people are willing to PAY you for your services.

When Manchester United play their football is seen by many MILLIONS (or even billions) around the world.

When Tom Cruise makes a film it is watched by millions all over the world.

If a person on a supermarket till resigns you could replace them in 30 minutes.

Some of these bank "experts" can make hundreds of millions for their bank in a year, something which bank are wiling to pay lots of money for.
And as for people making millions for their bank...tell that to Barings. All well and good until the whole thing goes mammaries upwards!
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"Surely you are not so illiterate that you cannot get your point across with putting in so many swear words (even if they are altered in some way). I think we can all get your point without the extra swear words."
It's meant to animate the question to try and get a feeling of bubbling anger, still I guess it's lost on a numpty like you

"And to me, anyone who can make millions for their bank has a talent (whether we like it or not). "
what about those that lose Billions? are they the same guys?

"I heard on the radio this morning about a guy who "earns" 30 million a year, so to "earn" that much he or she must make far more for their bank. " - Again, how much did he lose last year?

"Most of these people work on things like futures markets and hedge funds. They can make more for their bank in one night than the likes of you and I make in our lifetime." and they can lose it just as quick, QED, so when they make money they get a bonus and when they lose money they....err get a bonuis!

"To a bank, anyone who can make millions in one night is worth keeping. If we tax them here they go and work in Switzerland, or Hong Kong, or the USA. " - so conversly anyone who loses billions need not be reatained.

right oh VHG, another stunning answer!
Like it or not these people are part of the economy. We the public love it when our shares (pensions included) house prices etc all rise. When thre is a blip all hell lets loose.

Most of thse people do work long hours, have a short working span before burnout and do have a mega stressful job. Who on this site woudl want the responsibility of millions resting on their shoulder? So like footballers, who no one seems to mind paying rediculous money to, they are rewarded heavily.

If you remove the bonus structure then what is the alternative to get the most out of people? Effectivley the bonus is a commision, you make the banks money you do well.

If RBS loose the people who know how to operate the system, and they will if you dont pay them, then who will do it - a civil servant perhaps? My sides are splitting already. One alos assumes/hopes that anyone involved in the losses - and it was not all of the traders, has been fired. And it is likely they will not be touched.
Damn. Just lost $10 million while writing that

Oh well never mind according to most on here I'll still get a bonus.

Does anyone really think that happens in the cut throat world of the City?

It soon wont anyway as onece the French get there way the City will go into oblivion (As they have already gloated). So hold your anger for about 3 years and all will be solved - No City bankers just corrupt Europens
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PART 1:

"Most of these people work on things like futures markets and hedge funds. They can make more for their bank in one night than the likes of you and I make in our lifetime. "

By basically placing bets! Worse still, their betting manipulates the markets which further drives up the price of goods to everyone - but they don't care because they earn more than enough for it not to matter to them.

"It is nothing to do with how "hard" you work."

It should be.

"Does Wayne Rooney work harder than a nurse ?

Does Tom Cruise work harder than a person on a till in a supermaket ?"

No - neither of them do. Now I could be wrong (watching a bunch of guys run around in shorts for a couple of hours at a time is not my thing) but aren't even the big clubs always crying poverty? No wonder, when they pay such stupid money! At least in Cruise's case there's the old Hollywood adage: "You're only as good as your last film."
PART 2:

"Some of these bank "experts" can make hundreds of millions for their bank in a year, something which bank are wiling to pay lots of money for. "

I'm fairly sure that a trip down the local bookies and asking the staff about their punters could find you someone just as effective after a modicum of training.

“Most of thse people do work long hours, have a short working span before burnout and do have a mega stressful job. Who on this site woudl want the responsibility of millions resting on their shoulder? So like footballers, who no one seems to mind paying rediculous money to, they are rewarded heavily.”

And no-one else works long hours and stressful jobs? I do object to the wages paid to footballers. NO-ONE is worth that sort of money. I’d like to hope that if I was ever earning those sums that I would live “comfortably” and then use the rest to help others.
PART 3:



“If you remove the bonus structure then what is the alternative to get the most out of people? Effectivley the bonus is a commision, you make the banks money you do well.”

But they DIDN’T make money and STILL get their bonuses. The rest of us lose our pension investments when they mess up, and what happens? We get the “sorry, investments can go down as well as up, but thank you for my bonus” speech.

“If RBS loose the people who know how to operate the system, and they will if you dont pay them, then who will do it”

Their losses prove that they didn’t know how to operate the system. Who will do it? I’m guessing that there are plenty of people willing to do the job at a fraction of the cost.

“One alos assumes/hopes that anyone involved in the losses - and it was not all of the traders, has been fired.”

You can hope, but I assume that most are still there, drawing a big fat pay cheque and wanting a big fat bonus.

The government and those “at the top” have no idea how angry the public are at the growing gulf between the rich and the poor in this country. Luckily for them they’re canny enough to keep us just comfortable enough and just distracted enough to avoid any sort of repetition of the events in France 1789.
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To Zeuhl.. "When the numbers really don't add up"

Isnt this already happening though.... This country is broke (in more ways than one). Biggest debt out of all the developed Western countries - taxes will have to be hiked to try to even pay the interest on this borrowing.. yet we have a fab benefit system that pays people to sit at home and not bother working and give houses to huge families of Afghans when they havent paid into the system....

There is not enough money NOW to pay for all of this.. close the borders and only allow the skills in the we require. Stop all benefits to those not willing to try to find a job. Stop paying out to numerous children by single parents.

And do NOT reward anyone for doing a poor job with a stonking bonus!!!

The bubble of bonus's has to burst.. they all burst our bubble!!

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