will all the bank directors and managers get their bonuses from the bailout money?

WIZE

will all the bank directors and managers get their bonuses from the bailout money or will there by no bonus paid out

kaiser sauze

The bankers always get paid, end of.

Ah, no, it's not really that simple, there is the little matter of employment contract law here, even a government cannot override those.

There is a case, I'm sure, for renegotiating deals when you nationalise a bank, but it seems quite clear this did not happen. I may be giving the government too much credit here, but I am sure the AG was consulted on this matter.

Liam Byrne

I'd say you're giving this Government far too much credit, kaiser sauce!

If a bank is effectively bankrupt then they cannot pay their wages, let alone bonuses.

But to answer the OP, I would suspect that this spineless government will only use courts, etc, to prevent by-elections and won't use them to ensure that our money isn't further wasted.

carrolls

kaiser sauze wrote: »

Ah, no, it's not really that simple, there is the little matter of employment contract law here, even a government cannot override those.

They can bring in austerity laws to stop this happening surely.

dreenman

kaiser sauze wrote: »

The bankers always get paid, end of.

Ah, no, it's not really that simple, there is the little matter of employment contract law here, even a government cannot override those.

No need to renegotiate - 100% tax on bankers bonus will deal with it.

murphaph

dreenman wrote: »

No need to renegotiate - 100% tax on bankers bonus will deal with it.

Even on bankers who haven't gone cap in hand to the Irish govt? (Ulster Bank etc.)

There is simply no way a bank director can expect a BONUS for leading a bank that requires billions of taxpayers' money to prop it up. If that director expects that money then let him look for it somewhere else. These guys are not indispensible by any stretch

Leiva

Lets step back a bit ...


The majority of the bankers that have us in this position are still employed .

Before you start looking a who gets a bonus lets clear out the incompetence first.

M.

dissed doc

kaiser sauze wrote: »

The bankers always get paid, end of.

Ah, no, it's not really that simple, there is the little matter of employment contract law here, even a government cannot override those.

There is a case, I'm sure, for renegotiating deals when you nationalise a bank, but it seems quite clear this did not happen. I may be giving the government too much credit here, but I am sure the AG was consulted on this matter.

They had no problem ripping up and breaking my employment contract in the HSE in a million different areas.

123balltv

I say they will
now if we had someone like Obama to run are Country this would'nt happen.

makes my blood boil :mad: to think a great man like Obama earns less than
fathead Cowen :mad: I'll never understand it

kaiser sauze

dissed doc wrote: »

They had no problem ripping up and breaking my employment contract in the HSE in a million different areas.

How so?

Actually, don't answer that, open up another topic and we'll discuss there.

kaiser sauze

Liam Byrne wrote: »

I'd say you're giving this Government far too much credit, kaiser sauce!

Alas, I fear you may be right.

newman10

murphaph wrote: »

Even on bankers who haven't gone cap in hand to the Irish govt? (Ulster Bank etc.)There is simply no way a bank director can expect a BONUS for leading a bank that requires billions of taxpayers' money to prop it up. If that director expects that money then let him look for it somewhere else. These guys are not indispensible by any stretch

They ran to the UK Govt

who introduced the 100% mortgage (First National/Ulster)

mikemac

123balltv wrote: »

I say they will
now if we had someone like Obama to run are Country this would'nt happen.

..to think a great man like Obama

Hardy a great man!

Did you see the election results this month?
His own electorate aren't too happy with him and his party. And rightly so

Good discussion over in the US Politics forum

Glassheart

123balltv wrote: »

I say they will
now if we had someone like Obama to run are Country this would'nt happen.

Actually it did happen with Obama.