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I'll just await the massive bonus payment announcement

RP wrote:it would pose a very particular question for the non-executives of Lloyds - which is why they chose to award a £1.45m bonus to the bank's retiring chief executive, Eric Daniels, earlier this year.
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Robert, you know how it works (or does not work).

This comment was removed because the moderators found it broke the house rules. Explain.

Of course Lloyds are in the red. It is what banks do. They lend money out that they haven't got. If anybody complains then the government, us, carries the can.
Meanwhile the banksters continue to fill their boots.
As a business model it takes some beating.
No focusing of the mind needed.
No moral hazard.
No need to make a success of things. Heck just operating means they get bonuses.
Clever bankers.

The non-executives of the big banks are a disgrace. Worse than that, they have completely got away with their negligence - at least I don't recall them being censured in any of the investigations into the financial collapse.

Their job is to represent the bank's shareholders, and they have completely and utterly failed to do so.

Bonuses when things go wrong and even more bonuses when things are not so bad. Robert you have no respect for top brass (should it not be top gold).

I don't know why we're still surprised at the downright venality, incompetence and greed of bankers, supported, for heaven's sake, by our elected representatives. In any other set of circumstances it would be called collusion, if not corruption. They just don't get it, do they? The almost universal contempt in which they are held, when a "bonus" of £1.45m is considered quite normal. FYI, you'd have to work approximately 121 years to make that, were you on the current minimum wage.

come to think of it, with their several billions of equities (cash?), these few men are richer than Greece, Ireland and Portugal put together!

@#3 Jeff Lampert: "Santander has a reputation for being more ethical".

They do, don't they?

Not what I found when I worked for them.

Hmm, looks like someone has been pre briefing the statement. Shouldn't all the shareholders be getting this information at the same time?

God! When are you lot going to get over Bankers' bonuses? It's time to move on & get a life.

#11, you're so right, people should move on and let these hard working bankers continue to make obscene bonuses when other are suffering pay cuts and job losses. Oh to lack a conscience or any sense of moral decency!

That accounts for the Lloyds shareprice over the past week - why on earth is Daniel's not being sued?

11. At 21:41pm 4th May 2011, cabelguy wrote:
"God! When are you lot going to get over Bankers' bonuses? It's time to move on & get a life."

I am sure Robert Peston has a very pleasant life. But I think Robert Peston wants to tell us that bankers have certain responsibilities, and if they can get massive bonuses when they missold PPI insurance and allegedly not fully accounted for Irish bank losses. Its the non executive directors' job to make sure of that.

Now, what I would like to know is who is in charge of Robert Peston. Journalists also have certain responsibilities, too. They have to comment on an important decision by the EU competition authorities to investigate the allegedly rigged market in Credit Default Swaps, which drives countries on the EU periphery into defaults, don't you think?

The CDS story would be worth more than speculation on whether state pensions use the right discount rate, which capitalist becomes a billionaire in the next flotation by cornering markets, or about results of a bank.

Speculate about whether the banks are guilty of rigging the market in credit default swaps, Robert. Where is your insider information on that? And do speculators drive countries into ruin through these instruments? And whether you think they should be banned, as anybody who has any sense, thinks they should. If we do not want another financial crisis such as in 2008.

That is what we want to know! Even though nobody want to tell us about it! Why not? Where is the thorough ³ÉÈË¿ìÊÖ journalism on CDS, how they make speculators richer as they make countries poorer and drive them into default!

Still...they should make a bob or two from selling off 600 branches...

Lloyds told to sell more branches by banking commission

Wow! What a game being played in this whole finanancial system!! Just waiting for the little boy to appear and say "the Emporer has no clothes" That'l learn em ;-}

I can't believe that we have sleep walked into this mess. I can't believe that governments have let this happen. Worship of money and greed. Oh yes, those that have the money have power. That would explain it.

CDS and sovereign defaults. It's so scarey and yet, as stated above, no real coverage.

Start here, for here is the very essence of banking, however much they try to dress it up with no clothes but with cartoon trains in happy land....

Today I believe Lloyds will post big losses and the Halifax will get the blame.

Lloyds LOAN ARRANGERS granted too much L to V [ Loan to Value] like the rest , so they should change their name to L AAA Vvoyds AND THEIR MOTOWE to BETTER RED THAN DEAD"

Until their QE rabbits { flying by the seat of their pans} learn to multiply real wealth rather than pocket inflationairy gains. from a quick buck.

Vvoyds should make the most of their QErabbits and invite their dead Irish counterparrots for some flatline dancing with Michael Flatley

Preferably a contemporary correogIraphed versioN of "Old McDonnald had a bank eei eei owe"

And in that banK he had some ducks eei eei owe

CLICK CLICK CLICKETY CLICK CLOP CLOP CLOP CLOP CLPOP

aN D THE DUCKS WENT QUACK ,HEAR A QUACK THERE AA QUACK EVERYWHERE AAA QUACK QUAACK QUAAACK

CLOP CLOP CLOPPETY CLOP CLICK CLICK CLICK EEI EEI OWE!



Indeed they will dunce annd theyll dunce on the night they are wed

THAY WILL DUNCE AND THEYLL DANCE

cAUSE THE ROOM HAS NOBED

Out of interest (no pun intended), are the banksters bonuses taxable presumably at top rate? If that is the case, and assuming they don't find an avoision technique, are the huge bankers bonuses not a good thing in that about half of it is a direct cash injection into the state coffers while the other half is spent on manufactured goods in our shops?

19. At 00:13am 5th May 2011, Simon wrote:
Today I believe Lloyds will post big losses and the Halifax will get the blame.

Of course, or the Irish, rather than the true criminal in this matter: Gordon Brown and his Labour Party, ie: the same people who drove the UK banking system into the iceberg that's now sinking it. It might be happening all over the world, but it's those countries who were mismanaged the most that are suffering, like ourselves. I'm sure his plan would be to join Europe, which would have offered the same protection as Ireland Greece and Portugal, er, perhaps now's the time to distance ourselves from these leftist financially incompetant governments.

Endowment policies,
Personal equity plans
Equity release schemes
Private pensions
Precipice bonds
Self certification and 100% + mortgages
Unfair bank charges
Unfair mortgage penalty charges

And now Payment protection insurance

Perhaps we should play guess the next financial scandal.

Quantitative easing?

Once again, it looks as if our esteemed ³ÉÈË¿ìÊÖ Business correspondent is itching to tell us what we already know, but doesn't quite have the courage to follow through.

You only have to look at the comments on this blog and Ms Flanders' to see that respect for both is on the wane.

#7 "I don't know why we're still surprised at the downright venality, incompetence and greed of bankers, supported, for heaven's sake, by our elected representatives."

The MPC are not elected. Without the support of the MPC, there would be no bonuses