Former RBS Chairman to pocket £650,000 a year for life Following fork's comments on the fat cats at the top in the previous thread, what do people think of this?
its disgraceful especially knowing it was confirmed after RBS was bailed out by the taxpayer. Over £13,000 a week. Makes you sick when the cunts are taking 35 quids off me at a time & not a chance I'll be getting it back
how could anyone justify getting paid £1900 a day? even if he had been the worlds finest banker he's not worth more than a surgeon for instance. As it is he's run a perfectly good bank into the ground with the biggest corporate loss in history and nearly brought the whole economy down with it. The cunt should be in jail for the rest of his life. Instead he's being paid that by the taxpayers, ie us, while loads of his staff are being put on the dole with £60 a week to play with.
Some of the annual bonuses fat cunts like this in the past have gotten are absolute shocking, enough to buy small countries n that i reckon !!!
it is a disgrace that a man who fucked up a bank & nearly bankrupt it, is getting anything except being shot with shit... since the tax payer partially owns the bank we will b helping him get paid that...he should get fuck all
I don't know if you pay any tax but if you do you are now paying towards this mans pension. That makes it news in my book. Since you seem to find it hard to see why your taxes should go to help anyone else I would have thought you'd be in a rage about it. Or does it only bother you if your money goes to single mums or asylum seekers?
His pension was agreed when he started the job, the amount was subject to the banking climate at the time, he left the company with his pension, regardless of what happened before that, they let him take redundancy over being sacked (which means their wasn't enough reason to sack him) then the bank went under and we now own 70% of it. If we push for this to be changed then everyones pensions could be at risk from employers, what is rule for one is the same rule for everyone else.
he bankrupted the business he was running. If the taxpayer - ie us, hadn't stepped in he would have got what he deserved - nothing. The bank was insolvent when he left not afterwards. His recklessness caused its collapse. What about the thousands of bank employees now on the dole? His pension pot was doubled shortly before he left and in fact is £703,000 a year till he dies. The 'banking climate at the time' is what got us into this shit, why the hell should we have to carry on with it now? And we effectively own 90% of the bank. or rather the pile of debt bequeathed to us by this selfish twat.
His actions were all approved by the board, that is where the problems come in to it and why they couldn't sack him. And the thousand of bank employees on the dole is just another problem which people need to deal with, its not like the bank wouldn't of collapsed if he wasn't there. Look at the majority of banks around, all of them are laying people off claiming money problems. Do you think his pension is a big part of the RBS Bail out we paid for? Its a small part of a huge bill we a footing, the fact that the majority people are jealous that he's gotten away with it seems like the big problem here.
the shitter is that the government doesn't seem to have any legal means to remove his pension, despite the all the jumping up and down they are doing. And to add insult to injury, if you read Robert Peston's blog on the BBC, it seems the government knew about his pension figures for over a year and did nothing.
That's because they are pretty standard for such a high paying position, you just don't get many people having their personal pensions disclosed on the news. I wouldn't lose any sleep over it as apart from the fact that we own 90% of a company nothing will change, when the market swings round, we will still pay more tax for less and still end up getting screwed by a goverment. This is just a distraction to the bigger problems in the goverment and its baiting all jealous types in to protesting for the law to be changed which if it does happen, will means that the company can revoke any ex employees pension after they left on what ever whim they want. One rule for one is the same rule for everyone else.
most other peoples private pensions ARE at stake because of the gamblings of the banks. take it off him - let him sue.
which is precisely what's wrong with the whole business. Is anyone worth such sums? especially him? but it's not...... anyone else bankrupting his business doesn't get bailed out by the taxpayer.
That would be up to the company involved, i.e. not our business It's not his company, he was given charge of it by the board and every change he made had to go through them first.
it IS our business......... given that the banks can't be allowed to fail then we as taxpayers have a vested interest in seeing that they are well run. We are the ones who have to pay his grotesque pension, we are the ones paying the dole when companies lay people off. There should be some accountability from the people who cause all this. Any BOARD bankrupting their business won't get bailed out by the taxpayer. And he was the Chief Executive. Just because the board were supine and useless doesn't excuse him. They were all on the same gravy train., and probably looking to keep their own nests well feathered.
If the govt does what you're suggesting, where would the line be drawn? Whose money/pension/bonus should/could they not take?` This whole story's fucking ridiculous. I hope he keeps his pension. He'll probably get a couple of non-executive director positions with a few FTSE companies too, just to to the pension pot up to over the 1mil mark. Keep the wolf from the door.
Im strongly against the idea of governments changing laws whatever way the wind is blowing. Thats one step closer to living in a totalitarian police state in my mind. ... On the other hand, im completely against the idea that a chairman of a massive company can contribute towards the failing of an international banking system and walk away a rich man. This guy might have slipped the net, and lawfully so, but i really hope that theres provision made for the future that eliminates these golden parachutes and makes these people personally responsible and affected when things go tits up like this.
It should simply be that no-one should profit from recklessly running a company into the ground. I don't expect that we can get the money back off him and I don't think you can change the law retrospectively but the law should now be changed to make sure this doesn't happen again. Once again the law is being used to protect the rich from the poor. I see Adam Applegarth is rolling in clover too with millions from Northern Rock in his pocket till he dies whilst ordinary people get repossessed and thrown out on the street. How you can defend the present system is beyond me
I agree with what your saying. The only point im defending is the idea that laws can be changed to suit anyones whim at any given time. Remember we are 'supposed' to be living in a democracy? (I use the term lightly). Once people believe that what is right and what is wrong can be changed on a daily basis or according to our 'masters' latest plans, then we are no better than characters in a George Orwell book.
