How can this be?

Lloyd's Bank boss Eric Daniels is in line for a £2.25 Million bonus even though his bank is expected to report a loss of £11 Billion for 2009.

Has the whole world gone crazy, he should be sacked not paid a bonus. In the real world he would be out on his ear.

Phil

Over Centuries, we Serfs have been bled to death to satisfy our Lords and masters and to finance their Avarice. The trouble is our world is finance driven and when the banks sneeze the rest of us catch a cold.
So when the banks are in trouble the Government bails them out with OUR money. It would be interesting to know how many of our Noble Lords and our Elected MPs are directors of these merciless banks who Bleed us all to death on a daily basis. SB

SB

As you say I think it has a lot to do with where the distribution of shares and directorships are.

Phil

Its quite simple really Phil. He got his bonus for exceeding his targets. These would be to increase efficiency by reducing the number of branches, rushing the customers through more quickly ( UNLESS they are "investing" in some pretty poor investment product or taking out an insurance product that refuses to pay out by "exclusions" in over 50% of the cases) , and making as many actually productive people redundant as possible. He exceeded those targets , so got his bonus. The losses incurred by dubious practices are not relevent to this, as are purely bad luck and not forseeable by any bright young pratt with an over large head, the morals of a slug and the taste of a football player.
mike

Mike

You must have worked in banking at some time. You know the procedure so well.

Phil