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(The Week UK)   What do you do if you are a bank and you are told to stop paying bonuses? Easy, just rename bonuses "reviewable salary." Genius. Evil genius   (theweek.co.uk) divider line 28
    More: Sad, Europe, European Court of Justice, salary, fixed costs  
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1995 clicks; posted to Business » on 14 Feb 2014 at 10:32 AM (23 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



28 Comments   (+0 »)
   
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2014-02-14 10:39:45 AM
This is a symptom of trying to control that which cannot be controlled.  You cannot fix a system designed to get around bullshiat regulations.  The better solution is to hang unethical and fraudulent people.  Those that aren't hanged will find ways to be transparent and ethical or they too will hang.
 
2014-02-14 10:56:05 AM
Either that or tell them, you mispronounced "bonus" and fine and jail the assholes anyway.
 
2014-02-14 10:59:22 AM
apparently paying employees is now considered evil.
 
2014-02-14 11:04:05 AM
So they just did what anyone does when you try to price control something? You would think we would have learned our lesson back in the Carter Administration.

Smeggy Smurf: The better solution is to hang unethical and fraudulent people.


Yeah totally. Should we have started killing off butchers in the 70s? There are people out there that get low base salaries and relay on "bonuses" to make up the majority of their yearly income.
 
2014-02-14 11:16:45 AM
This only works if the regulators are too chickenshiat to put their foot down.  That which is by every rational definition a "bonus" doesn't have to be called so by name - it is by definition.  When the law says "don't do X" and you do X then you SHOULD be in a shiatload of trouble.
 
2014-02-14 11:20:24 AM
Banking should always be nothing more than a basic service to the people. A strictly non-profit entity that goes about it's business quietly, heavily regulated, and controlled. We gain nothing by making them competitive, and while they are for profit organizations and insured by governments, it's akin to giving unlimited crack to an addict.
 
2014-02-14 11:25:07 AM

Smeggy Smurf: This is a symptom of trying to control that which cannot be controlled.  You cannot fix a system designed to get around bullshiat regulations.  The better solution is to hang unethical and fraudulent people.  Those that aren't hanged will find ways to be transparent and ethical or they too will hang.


I'll get the rope.
 
2014-02-14 11:43:08 AM

The Stealth Hippopotamus: So they just did what anyone does when you try to price control something? You would think we would have learned our lesson back in the Carter Nixon Administration.



Why do morans attribute price controls enacted by Nixon to Carter? Couldn't be blind partisanship?
 
2014-02-14 11:50:25 AM

max_pooper: The Stealth Hippopotamus: So they just did what anyone does when you try to price control something? You would think we would have learned our lesson back in the Carter Nixon Administration.


Why do morans attribute price controls enacted by Nixon to Carter? Couldn't be blind partisanship?


True but why are we talking about this when the wage price controls enacted by Roosevelt is more apt?
 
2014-02-14 12:06:56 PM

Saiga410: True but why are we talking about this when the wage price controls enacted by Roosevelt is more apt?


For some reason people just have a hate on for all things bank. I was just trying to humanize it by throwing hard working butchers into the mix.

max_pooper: Why do morans attribute price controls enacted by Nixon to Carter? Couldn't be blind partisanship?


No. They fell apart during the Carter Administration, hence the words "back in". If I was blaming Carter I would have said "did we learn nothing from the price controls Carter put in place?". I guess I could have spelled it all out for you
 
2014-02-14 12:25:32 PM

The Stealth Hippopotamus: Saiga410: True but why are we talking about this when the wage price controls enacted by Roosevelt is more apt?

For some reason people just have a hate on for all things bank. I was just trying to humanize it by throwing hard working butchers into the mix.

max_pooper: Why do morans attribute price controls enacted by Nixon to Carter? Couldn't be blind partisanship?

No. They fell apart during the Carter Administration, hence the words "back in". If I was blaming Carter I would have said "did we learn nothing from the price controls Carter put in place?". I guess I could have spelled it all out for you



Or you could have said "did we learn anything from Nixon's price controls." Of course you didn't say that because you wanted to try to blame Carter for them.

Your hyper partisanship and "blame Democrats for everything" modus operandi is well documented.
 
2014-02-14 12:34:04 PM

max_pooper: Or you could have said "did we learn anything from Nixon's price controls." Of course you didn't say that because you wanted to try to blame Carter for them.

Your hyper partisanship and "blame Democrats for everything" modus operandi is well documented.


Oh dear sweet lord did you hear a dog whistle too?

I blame Rs as well as Ds. Not everyone is like you, leave the projecting to the movie theaters.
 
2014-02-14 12:35:28 PM

The Stealth Hippopotamus: Smeggy Smurf: The better solution is to hang unethical and fraudulent people.

Yeah totally. Should we have started killing off butchers in the 70s? There are people out there that get low base salaries and relay on "bonuses" to make up the majority of their yearly income.


Which has nothing to do with unethical and fraudulent people.  Tough penalties and making people examples can do wonders, particularly when you're talking about otherwise normal members of society and not drug dealers
 
2014-02-14 12:36:59 PM
"Maximum Gross Compensation"

Not hard to do, monitor, or enforce.
 
2014-02-14 12:38:49 PM

max_pooper: The Stealth Hippopotamus: So they just did what anyone does when you try to price control something? You would think we would have learned our lesson back in the Carter Nixon Administration.


Why do morans attribute price controls enacted by Nixon to Carter? Couldn't be blind partisanship?


Carter (by way of Paul Volcker) tried to control interest rates.  That sort of worked, but the side effects were 21% rates and rampant unemployment.  It DID stop the inflation train, though.

The difference today is that MultiNationals can circumvent the controls simply by moving the transactions to another country and no one government can do anything about it.
 
2014-02-14 12:42:13 PM
Tis is similar to my health insurance...co-pays are now applicable to deductibles, only now I am no longer charged a co-pay, insead is an office fee.  BS still the same.
 
2014-02-14 01:01:35 PM

bhcompy: Which has nothing to do with unethical and fraudulent people. Tough penalties and making people examples can do wonders, particularly when you're talking about otherwise normal members of society and not drug dealers


Well when you say "we're going to stop all bonuses" that means we stop all bonuses. It doesn't say we stop all unethical and fraudulent people's bonuses but everyone else is cool. That's why I bought up the price controls. Any time the government starts swing a meat cleaver people are going to duck. This shouldn't surprise anyone.
 
2014-02-14 01:05:42 PM

The Stealth Hippopotamus: So they just did what anyone does when you try to price control something? You would think we would have learned our lesson back in the Carter Administration.

Smeggy Smurf: The better solution is to hang unethical and fraudulent people.

Yeah totally. Should we have started killing off butchers in the 70s? There are people out there that get low base salaries and relay on "bonuses" to make up the majority of their yearly income.


WTF are you talking about?  I'm saying hang the unethical people.  How you're paid isn't unethical if it's transparent.  Salary, bonuses, etc. makes no difference except to somebody that wants to punish people for being successful.
 
2014-02-14 01:17:16 PM

Smeggy Smurf: WTF are you talking about?


I'm talking about how it's impossible for any government body (US and EU included) to write laws that would limit this behavior.

Smeggy Smurf: I'm saying hang the unethical people.


Great policy. How would you enact it? I know we're on the internet and nothing actionable will actually happen but other than creating a great bumper sticker what does "hang all the bad people" mean to you?

Smeggy Smurf: Salary, bonuses, etc. makes no difference except to somebody that wants to punish people for being successful.


Then what is the problem with calling it bonuses? Why start talking about hang people? Why not lead in with "stupid law is stupid"?
 
2014-02-14 01:24:06 PM

robbiex0r: "Maximum Gross Compensation"

Not hard to do, monitor, or enforce.


Not a bad idea, but it sounds too much like 'isms people don't like.
 
2014-02-14 01:32:09 PM

SlothB77: apparently paying employees is now considered evil.


When you want the government to create a new fictional person just to shield you from responsibility, you'd better be willing to play by the government's rules.
 
2014-02-14 01:40:33 PM

The Stealth Hippopotamus: max_pooper: Or you could have said "did we learn anything from Nixon's price controls." Of course you didn't say that because you wanted to try to blame Carter for them.

Your hyper partisanship and "blame Democrats for everything" modus operandi is well documented.

Oh dear sweet lord did you hear a dog whistle too?

I blame Rs as well as Ds. Not everyone is like you, leave the projecting to the movie theaters.



Yeah, yeah, yeah, BSABSVR. We know your schtick.
 
2014-02-14 05:28:33 PM
www.wnd.com
 
2014-02-14 08:14:23 PM
So when I steal money from them, it's redistributing income

or diversifying liquidity...


It's been done for a long time in Britian...just note this with Mr. Hood.
 
2014-02-14 09:37:38 PM
Maybe if the EU would allow banks to skirt the "bonus law" by enrolling their employees in the "jelly of the month club," the problem would be solved....

www.giftgivingguy.com
 
2014-02-14 10:24:57 PM

Smeggy Smurf: This is a symptom of trying to control that which cannot be controlled.  You cannot fix a system designed to get around bullshiat regulations.  The better solution is to hang unethical and fraudulent people.  Those that aren't hanged will find ways to be transparent and ethical or they too will hang.


You assume that the hangman is ethical. That would be an incorrect assumption.
 
2014-02-14 10:27:37 PM
We could tax them all equally (in that income is income, regardless of the source) and solve a lot of these word games.
 
2014-02-15 01:04:20 PM

Hyjamon: Tis is similar to my health insurance...co-pays are now applicable to deductibles, only now I am no longer charged a co-pay, insead is an office fee.  BS still the same.


You should report your health insurer (seriously). Call your AG's office or consumer protection agency/office. Or possible the state department of insurance.
It won't take you more than a half hour, if that, (usually there's just a form/email you can send) and maybe you'll win.
 
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