Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

the banks again

Options
  • 04-10-2010 4:24pm
    #1
    thebaz
    Registered Users Posts: 13,597 ✭✭✭✭


    sorry .. but the cess pit of AIB, Anglo and Nationwide just gets worse

    this time its the AIB , the bank owned by you and me, is paying out a yearly pension to ex Chief and the man who broke it

    "Sheehy was paid millions during his three-year reign and left AIB with an almost €900,000 payout and a pension of around €450,000 a year."

    As an owner , or so I'm led to believe , I demand this is stopped immediatly and pay him state pension of 196 a week or what everyone else gets - 450,000 in this day in age is disgusting, for a man who created the mess we are all in


«134

Comments

  • Options
    #2
    Gunsfortoys
    Closed Accounts Posts: 3,080 ✭✭✭Gunsfortoys


    thebaz wrote: »
    for a man who created the mess we are all in

    No he didn't.


  • Options
    #3
    Snakeblood
    Registered Users Posts: 4,466 ✭✭✭Snakeblood


    thebaz wrote: »
    sorry .. but the cess pit of AIB, Anglo and Nationwide just gets worse

    this time its the AIB , the bank owned by you and me, is paying out a yearly pension to ex Chief and the man who broke it

    "Sheehy was paid millions during his three-year reign and left AIB with an almost €900,000 payout and a pension of around €450,000 a year."

    As an owner , or so I'm led to believe , I demand this is stopped immediatly and pay him state pension of 196 a week or what everyone else gets - 450,000 in this day in age is disgusting, for a man who created the mess we are all in

    The problem is people signed contracts. If you invalidate his contract, why don't they invalidate any contract people don't like?

    He may have ****ed the country into the middle of the dark ages, but he's got the law on his side. The best people can hope for is renegotiation.


  • Options
    #4
    thebaz
    Registered Users Posts: 13,597 ✭✭✭✭thebaz


    Gunsfortoys wrote: »
    No he didn't.

    he is partly responsible - or are you saying he did a good job and deserves a reward of 450,000 a year ??


  • Options
    #5
    Donkey Oaty
    Closed Accounts Posts: 4,533 ✭✭✭Donkey Oaty


    Just a thought: it might be illegal not to pay him this money, and legal action by him to claim it would ultimately cost us all even more than it does now.

    Still a bit sickening though.


  • Options
    #6
    Dravokivich
    Moderators, Category Moderators, Music Moderators, Politics Moderators, Society & Culture Moderators Posts: 22,360 CMod ✭✭✭✭Dravokivich


    thebaz wrote: »
    As an owner , or so I'm led to believe

    Are you an actual majority share holder or are you jumping the gun here because the Government has bailed them out?

    we as individuals DO NOT OWN any of these bailed out banks!


  • Advertisement
  • Options
    #7
    Gunsfortoys
    Closed Accounts Posts: 3,080 ✭✭✭Gunsfortoys


    thebaz wrote: »
    he is partly responsible - or are you saying he did a good job and deserves a reward of 450,000 a year ??


    He deserves none of it. However he didn't create the economic mess we are in.


  • Options
    #8
    thebaz
    Registered Users Posts: 13,597 ✭✭✭✭thebaz


    Gunsfortoys wrote: »
    He deserves none of it. However he didn't create the economic mess we are in.

    I said partly to blame, he was chief of the largest bank in ireland, and got paid handsomely to manage it - if he was doing such a good job why has the bank no money ??


  • Options
    #9
    Dravokivich
    Moderators, Category Moderators, Music Moderators, Politics Moderators, Society & Culture Moderators Posts: 22,360 CMod ✭✭✭✭Dravokivich


    thebaz wrote: »
    I said partly to blame, he was chief of the largest bank in ireland, and got paid handsomely to manage it - if he was doing such a good job why has the bank no money ??

    That's a question for the economics forum.

    What exactly are you trying to suggest with this thread?


  • Options
    #10
    Gunsfortoys
    Closed Accounts Posts: 3,080 ✭✭✭Gunsfortoys


    thebaz wrote: »
    for a man who created the mess we are all in




    No you said....
    thebaz wrote: »
    for a man who created the mess we are all in

    The regulator was responsible for monitoring the banks, lending etc.


  • Options
    #11
    mikemac
    Closed Accounts Posts: 19,986 ✭✭✭✭mikemac


    There are many areas in AIB.
    Some are black holes but some are making good profits

    Do you actually own any shares?
    Did you purchase them with a broker?


  • Advertisement
  • Options
    #12
    thebaz
    Registered Users Posts: 13,597 ✭✭✭✭thebaz


    Dravokivich wrote: »
    That's a question for the economics forum.

    What exactly are you trying to suggest with this thread?

    that he did a great job and fully deserves his reward - while some of his fellow fat cat bankers suggest the ordinary Joe works an extra half a day a week for free - yeah thats the attitude - are you a banker ?


  • Options
    #13
    brianthebard
    Closed Accounts Posts: 16,165 ✭✭✭✭brianthebard


    thebaz wrote: »
    As an owner , or so I'm led to believe , I demand this is stopped immediatly and pay him state pension of 196 a week or what everyone else gets - 450,000 in this day in age is disgusting, for a man who created the mess we are all in

    The government didn't nationalise the banks so you're not an owner, if you want that option then you should support labour....


  • Options
    #14
    Dravokivich
    Moderators, Category Moderators, Music Moderators, Politics Moderators, Society & Culture Moderators Posts: 22,360 CMod ✭✭✭✭Dravokivich


    thebaz wrote: »
    that he did a great job and fully deserves his reward - while some of his fellow fat cat bankers suggest the ordinary Joe works an extra hald a week for free - yeah that the attitude - are you a banker ?

    I... bank...

    But I have no idea what you are getting at. Even people who do a shít job still have to get paid what a company is obliged to pay them as defined in any signed contracts.

    What's your point?


  • Options
    #15
    thebaz
    Registered Users Posts: 13,597 ✭✭✭✭thebaz


    Gunsfortoys wrote: »
    No you said....



    The regulator was responsible for monitoring the banks, lending etc.


    no single person is responsible for the mess, not even Seanie, but I think message was clear enough - i just think its disgusing that some of the people who created the mess are experiencing little hardship and expect the ordinary people of this state to clean up their mess


  • Options
    #16
    Dravokivich
    Moderators, Category Moderators, Music Moderators, Politics Moderators, Society & Culture Moderators Posts: 22,360 CMod ✭✭✭✭Dravokivich


    thebaz wrote: »
    no single person is responsible for the mess, not even Seanie, but I think message was clear enough - i just think its disgusing that some of the people who created the mess are experiencing little hardship and expect the ordinary people of this state to clean up their mess

    This mess is as much a problem caused by the consumer as the lender you know...


  • Options
    #17
    Gunsfortoys
    Closed Accounts Posts: 3,080 ✭✭✭Gunsfortoys


    thebaz wrote: »
    while some of his fellow fat cat bankers suggest the ordinary Joe works an extra hald a week for free


    I have yet to hear a banker saying the ordinary Joe should work an extra week for free. Your argument should be with the current government not the bankers.


  • Options
    #18
    thebaz
    Registered Users Posts: 13,597 ✭✭✭✭thebaz


    Dravokivich wrote: »
    I... bank...

    But I have no idea what you are getting at. Even people who do a shít job still have to get paid what a company is obliged to pay them as defined in any signed contracts.

    Why should people who pass on a financial burden to others be rewarded , maybe its just me then who finds this whole thing disgusing


  • Options
    #19
    thebaz
    Registered Users Posts: 13,597 ✭✭✭✭thebaz


    Gunsfortoys wrote: »
    I have yet to hear a banker saying the ordinary Joe should work an extra week for free. Your argument should be with the current government not the bankers.

    Soden ex BoI suggested it over weekend -
    why should bankers not suffer, it was they who broke the banks , not the govt - yes the govt and in particular regulator contributed hugely

    I would not pay the ex regulator more than 196 a week either


  • Options
    #20
    TelePaul
    Registered Users Posts: 4,093 ✭✭✭TelePaul


    thebaz wrote: »
    no single person is responsible for the mess, not even Seanie, but I think message was clear enough - i just think its disgusing that some of the people who created the mess are experiencing little hardship and expect the ordinary people of this state to clean up their mess

    You can't blame the banks for irresponsible lending without blaming the people for irresponsible borrowing. Irish society reached a point whereby hairdressers and taxi-drivers fancied themselves as millionaire property moguls. Society does not function in this manner. Eugene Sheehy was appointed MD in 2001, eight years before the banking crisis. No reason to blame him for anything really.


  • Options
    #21
    Dravokivich
    Moderators, Category Moderators, Music Moderators, Politics Moderators, Society & Culture Moderators Posts: 22,360 CMod ✭✭✭✭Dravokivich


    thebaz wrote: »
    Why should people who pass on a financial burden to others be rewarded , maybe its just me then who finds this whole thing disgusing

    The whole thing yeah...

    But this guy's pension payout is a non-issue. If we weren't in this mess now, he'd still be getting the same pension... would you have an issue with it then?

    Anyone hung up on the wages / bonus' people receive from doing their jobs is missing the bleeding point...

    It was the same arguement with Thomas Cook... "Oh our boss is getting loads of money, why should they be closing our office down.. look how much money he's making"

    Get off of it...


  • Advertisement
  • Options
    #22
    thebaz
    Registered Users Posts: 13,597 ✭✭✭✭thebaz


    TelePaul wrote: »
    You can't blame the banks for irresponsible lending without blaming the people for irresponsible borrowing. Irish society reached a point whereby hairdressers and taxi-drivers fancied themselves as millionaire property moguls. Society does not function in this manner. Eugene Sheehy was appointed MD in 2001, eight years before the banking crisis. No reason to blame him for anything really.

    well where is all AIB's money then, if he is not to blame?????


  • Options
    #23
    TelePaul
    Registered Users Posts: 4,093 ✭✭✭TelePaul


    thebaz wrote: »
    well where is all AIB's money then, if he is not to blame?????

    Loans that were defaulted upon by the public


  • Options
    #24
    seven-iron
    Closed Accounts Posts: 451 ✭✭seven-iron


    Anyone hung up on the wages / bonus' people receive from doing their jobs is missing the bleeding point...

    It was the same arguement with Thomas Cook... "Oh our boss is getting loads of money, why should they be closing our office down.. look how much money he's making"

    Couldn't agree more.

    In all likelihood, our own social welfare will be cut. Not the pensions of business people who are in the spotlight. Don't get carried away with this mob mentality.


  • Options
    #25
    bobblepuzzle
    Closed Accounts Posts: 1,256 ✭✭✭bobblepuzzle


    thebaz wrote: »
    well where is all AIB's money then, if he is not to blame?????

    To people who cannot pay it back unfortunately....


  • Options
    #26
    thebaz
    Registered Users Posts: 13,597 ✭✭✭✭thebaz


    Dravokivich wrote: »
    The whole thing yeah...

    But this guy's pension payout is a non-issue. If we weren't in this mess now, he'd still be getting the same pension... would you have an issue with it then?

    Anyone hung up on the wages / bonus' people receive from doing their jobs is missing the bleeding point...

    It was the same arguement with Thomas Cook... "Oh our boss is getting loads of money, why should they be closing our office down.. look how much money he's making"

    Get off of it...

    the fact is we are in a mess now , and I do have an issue with it


    you seam to be of the opinion that executives should all get re-imbursed well, and if the average worker (Thomas Cook) loses his job with no money, so what .... yeah greed is good for incompetents


  • Options
    #27
    bobblepuzzle
    Closed Accounts Posts: 1,256 ✭✭✭bobblepuzzle


    thebaz wrote: »
    the fact is we are in a mess now , and I do have an issue with it


    you seam to be of the opinion that executives should all get re-imbursed well, and if the average worker (Thomas Cook) loses his job with no money, so what .... yeah greed is good for incompetents

    At the end of the day, AIB are required to fulfill contractual obligations...

    It sucks, but that's the way it is.


  • Options
    #28
    TelePaul
    Registered Users Posts: 4,093 ✭✭✭TelePaul


    thebaz wrote: »
    yeah greed is good for incompetents

    There are fundamental economic and organizational principles at play here which negate assertions of this type. Believe me, I know how easy it is to blame all of our problems on the banks but in all honestly, people would be calling the banks greedy if they'd been turned down on a loan application for that second or third house.


  • Options
    #29
    Dravokivich
    Moderators, Category Moderators, Music Moderators, Politics Moderators, Society & Culture Moderators Posts: 22,360 CMod ✭✭✭✭Dravokivich


    thebaz wrote: »
    the fact is we are in a mess now , and I do have an issue with it


    you seam to be of the opinion that executives should all get re-imbursed well, and if the average worker (Thomas Cook) loses his job with no money, so what .... yeah greed is good for incompetents

    Re-imbursed?

    For what?

    I still don't understand what point you are trying to make.

    Also, in regards to my Thomas Cook reference, I take it you weren't aware of the generously high severance packet they were told they'd be getting the day before they went on "strike"?


  • Options
    #30
    thebaz
    Registered Users Posts: 13,597 ✭✭✭✭thebaz


    TelePaul wrote: »
    There are fundamental economic and organizational principles at play here which negate assertions of this type. Believe me, I know how easy it is to blame all of our problems on the banks but in all honestly, people would be calling the banks greedy if they'd been turned down on a loan application for that second or third house.

    I just have a major problem with the banks, they are not lending at all now, and so many of my friends , and me personally, are suffering severely from this recession , and when I see a bank exec get 450,000 a year it makes my blood boil


  • Advertisement
  • Options
    #31
    Snakeblood
    Registered Users Posts: 4,466 ✭✭✭Snakeblood


    thebaz wrote: »
    I just have a major problem with the banks, they are not lending at all now, and so many of my friends , and me personally, are suffering severely from this recession , and when I see a bank exec get 450,000 a year it makes my blood boil

    The vast majority of people are suffering from the recession. Refusing to honour contracts isn't the way out of it though.

    I was made redundant about 10 months ago, for example. the rule of law should still apply.


Advertisement