Pyramid Comment

This journal takes an alternative view on current affairs and other subjects. The approach is likely to be contentious and is arguably speculative. The content of any article is also a reminder of the status of those affairs at that date. All comments have been disabled. Any and all unsolicited or unauthorised links are absolutely disavowed.

Monday, February 09, 2009

Bonus - Redefining Terms

Experts are needed in the financial industry (allegedly) so payment of good salaries is necessary to retain these individuals to ensure they 'do not go abroad'. Good salaries do not imply anything about good bonus. These bankers cannot be such 'experts' if the disaster they've created is typical and they should be sacked with the termination of contract. How can a contract be written including a fail-safe clause for the banker? Other than by a complete imbecile, of course. Golden welcome packages handcuff the 'bank' (or any employer). It's as though it is a simple contractual exercise to hire a 'somebody' just to pay them a fortune. They don't have to actually provide anything. It's quite repugnant. The contract presumably avoids any clause that expects any obligation to actually be fulfilled. No one is that good.

NO ONE

Fail and be rewarded. Succeed and be rewarded. All the people who are stepped on to ensure this obscenity simply lose their jobs to help pay for it. The bonus rewards only the able and successful. The failures will then be identified unless some other sinister activity is taking place. They are protected by the system. It doesn't apply to football clubs who pay ridiculous salaries. The managers can be FIRED if they don't deliver. Why are banks any different?



An entrance to Hell.