There are many a reason for why bankers bonuses shouldn't be capped, starting with the simple fact that it is not the money of the British public to be risked. It is the shareholders who have risked money and reputation on the backs of CEO's such as Antonio Horta Osoria, CEO of Lloyds bank.
The British public are annoyed and you might even say jealous of these rich bankers, who seem to be earning a ridiculous sum of money which they are, in all fairness.
However, it is not the place of governments to limit the pay of staff in privately owned companies, no matter how much they are payed. The government risks nothing and therefore should have no say.
The small exception to this is RBS which is majority owned by the British Government and so the tax payers of the UK, in this case, should have a say because the British Government owns a majority stake, and therefore owns the business and so should control the wages of it's staff.
However, it is outrageous for bankers to set their own wages. The shareholders should have ultimate power just like the British Government is ultimately accountable to the British people. The shareholders should be in ultimate control, not the bankers themselves. It is not the money of the bankers and so they should have no ultimate power, in terms of setting their pay and bonus package.
Additionally, the British government taxes the bankers bonuses and so the British public should be more than happy that they earn a ridiculous sum of money per annum as it means that the British public will carry on 'raking in the money', through taxation, meaning better roads, hospitals and more public services which you all seem to desire for some reason.
So, I have come to the conclusion that politicians such as the head of the opposition, Ed Miliband, otherwise known as 'Wallace', should keep their noses out of the realms of business as the shareholders own the business and therefore risk money and therefore should have ultimate power as it is the money of the SHAREHOLDERS not you, the British public.
And, if you don't like the way a bank is run, get some friends (and a little money) together and set up your own bank or more simply go to another bank with you're business.
TGD
The British public are annoyed and you might even say jealous of these rich bankers, who seem to be earning a ridiculous sum of money which they are, in all fairness.
However, it is not the place of governments to limit the pay of staff in privately owned companies, no matter how much they are payed. The government risks nothing and therefore should have no say.
The small exception to this is RBS which is majority owned by the British Government and so the tax payers of the UK, in this case, should have a say because the British Government owns a majority stake, and therefore owns the business and so should control the wages of it's staff.
However, it is outrageous for bankers to set their own wages. The shareholders should have ultimate power just like the British Government is ultimately accountable to the British people. The shareholders should be in ultimate control, not the bankers themselves. It is not the money of the bankers and so they should have no ultimate power, in terms of setting their pay and bonus package.
Additionally, the British government taxes the bankers bonuses and so the British public should be more than happy that they earn a ridiculous sum of money per annum as it means that the British public will carry on 'raking in the money', through taxation, meaning better roads, hospitals and more public services which you all seem to desire for some reason.
So, I have come to the conclusion that politicians such as the head of the opposition, Ed Miliband, otherwise known as 'Wallace', should keep their noses out of the realms of business as the shareholders own the business and therefore risk money and therefore should have ultimate power as it is the money of the SHAREHOLDERS not you, the British public.
And, if you don't like the way a bank is run, get some friends (and a little money) together and set up your own bank or more simply go to another bank with you're business.
TGD
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