1.1 iRant: Bankers Bonuses

What led to this point...



OK..so I won't bore you with the ins and outs of the whole banking cock up saga that saw the world (well at least the financial capitals of) up in arms last year. I won't even bother analyzing whether or not it was the bad mortgages or dodgey loans that bought about what was nearly the biggest financial collapse in history (I know I know I made it dramatic...chill out). I don't even want to query or justify the Bn's of £'s of bonuses that have magically come from 'somewhere' to be available for certain big cats to get their mitts on.

No...I want to ask why? Why is it the Bn's of £'s worth of bonuses are only going to a handful of people in a small sector of the banking industry. Why isn't Martha 'the bank clerk' getting her fair share of the bonuses? Martha managed to sell 15 low risk personal loans, introduced 6 new mortgage applications and 3 re-mortgages from rival companies. Martha is never late and in the last 4yrs has only take 2 days sick out of the statutory 20 days for that period, thats 10%...10% people!

*Lets do the math*

RBS were geared to pay £1.3bn in bonuses to 22,000 investment bankers this year, that would see each person receiving about £59,050. Now stop me if I'm wrong but isn't that like 2yrs salary for some people?

The above would mean Martha would get squat!

BUT (here is what I'm proposing)

There are about 170,000 RBS employees in the country, if the £1.3bn bonus was shared equally amongst the entire staff of the UK, Martha and everyone else would get £7,647. Now don't get me wrong that might not be a huge amount of money but on average a person in Martha's position would earn about £20K annually, so that 7g is like a 38% bonus! Thats more than decent to me...

Now you might think 'What about the investment banker', I would say, this is supposed to be a democracy (when it suits the powers that be) and by that assessment 'Majority Rules'....there are more bank clerks than investment bankers...so I guess the IB's need to console themselves with the 3qtr mill salaries they already earn...?

*sigh* and irant...