Britain to crack down on bonus culture in financial sector

Tuesday 29th September, 05:31 AM JST

The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.

› Login to comment

Latest 15 of 17 Total Comments Show All

ChrisBiggins at 08:00 AM JST - 29th September

Goody goody gum drops. Britain is right to stop these greedy swines after what they have done to the world economy.

Those bankers are beastly wicked people who in my view should be forced to work on minimum wage for a year or two.
skipthesong at 08:31 AM JST - 29th September

Before you crack down on people making too much money, how about cracking down on government spending for itself? How many offices must you re-model, staff hired to what one person should be able to do, and your lavish parties?
skipthesong at 08:31 AM JST - 29th September

All elected politicians must cease doing business outside their jobs.
franz75 at 08:58 AM JST - 29th September

skipthesong: one problem at a time will you?

Molenir: current problems are caused by ultra liberalism. It shown it's limit. Communism? Read the definition again.
HonestDictator at 09:25 AM JST - 29th September

Y'know this whole year-end bonus deal would be good if instead of just giving millions to just one person because the corporate contract, they should spread the bonus to all company employees. A year end bonus that all employee's would look forward to.
GJDailleult at 09:26 AM JST - 29th September

Actually there is no crackdown on bonuses going on here. They are just talking about extending the time period on which bonuses are calculated. Nobody is questioning why the financial sector should have so much money to hand out in bonuses in the first place. That is the real problem and nobody is going to even try and touch that one because the politicians are all bought and paid for by the banks.　It has nothing to do with capitalism or communism, it's just the oligarchy vs. everybody else.
skipthesong at 11:44 AM JST - 29th September

skipthesong: one problem at a time will you?" Ok, then let's start hitting elected officials pockets first and foremost. then hit all those movie stars, sports stars, reality tv stars... Why the hell are you going to hit the guy who at least bought in some business. Share it with the other employees? Geez, if I am the only one bringing the biz in, man, I am sharing the wealth by at least keeping them employed! "A year end bonus that all employee's would look forward to." You don't like your job or want to get more, quit and find one that will pay you what you want. Anyone ever hear of making your own business? I haven't been employed as an employee for about 8 years now! Crack down on bonus culture.... well, geez but let's go ahead and spread the wealth - isn't that a sort of bonus?
Rodney_King at 12:45 PM JST - 29th September

Communism in action

When banks and markets needed money to avoid collapse they seemed to have no problem playing the SOCIALISM card by asking for money from governments and from tax payers. So convenient to play communism when you are in need of money and ask for more ultra liberalism when everything is OK...
30061015 at 01:26 PM JST - 29th September

crack down on bonus culture

I really don't care how much anyone makes in bonuses. Just don't give the f-ing banks my money next time around to keep them going when they give out feel-good loans to unqualified buyers of over priced real estate like candy. THIS is greed.

Let the govt just print more monopoly money for the poor bankrupt banksters, since this is the only thing the govt really does well anyway.
franz75 at 04:50 PM JST - 29th September

skipthesong: the people you voted for actually didn't care about what was happening because interventionism is unthinkable until it crashes. The rules should be set. Now I agree that the governments are wasting to much money on themselves.
skipthesong at 05:25 PM JST - 29th September

When banks and markets needed money to avoid collapse they seemed to have no problem playing the SOCIALISM card by asking for money from governments and from tax payers." They should never have gotten the money! I've heard it all of how much damage would have been caused but I have also heard enough where that would have been the case. What we have is politicians taking care of their interests and not the people's they only sold it as such.
dontpanic at 06:47 PM JST - 29th September

"What we have is politicians taking care of their interests and not the people's"

The bankers that made short term profits along with long term losses selling bad debt buggered off with their bonusses pretty quickly when it all turned sour. Were they thinking of the peoples interests?
Molenir at 10:22 PM JST - 29th September

Yes, they make all this money, which the government then taxes outrageously.

I like the recent article that talks about New York being concerned about overtaxing the rich. Many of whom have decided to move to Florida or someplace with slightly lower taxes. You make enough money, even marginal differences can add up to a huge amount. New York, by overtaxing the rich to pay for the poor is cutting its own throat. This capping the income of the top performers is doing the same thing. Not only that, it reduces the incentives on performance. Hitting the shareholders directly in the pocketbook as well. Guess that doesn't matter though unless you actually own stock though.
dontpanic at 07:14 PM JST - 30th September

How do they get taxed outrageousely? As soon as the bonus for taking daft risks with other peoples money is paid, it gets offshored, re offshored and then benefits get paid as untaxed, undeclared interbank transfers.

As for capping bonusses, no ones even suggested that. Theyre just asking for bonusses to be paid over time based upon the efficacy of the deal, once known, as opposed to simple increases in sales or turnover.

No-ones asking for unfair taxing of high earners. The rich should pay a fair proportion of their earnings just as the poor do. Whats being demanded here is a more equitable bonus system that rewards genuine achievement.
Molenir at 07:20 AM JST - 1st October

How do they get taxed outrageousely? As soon as the bonus for taking daft risks with other peoples money is paid, it gets offshored, re offshored and then benefits get paid as untaxed, undeclared interbank transfers.

Some people get away with paying nothing. Others pay almost half their income in taxes. Which to you is outrageous. For me, I'd say both. In my opinion, I don't think anyone should have a free ride, regardless of how little they make. You live in the US, you earn a wage, you're enjoying the rights, and privileges, you should bear some of the responsibility as well. And having to pay nearly half your income to the government, is outrageous regardless of how much you make. The government didn't make that money, you did.