AIB to pay €40m bonuses despite bailout

robut

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Apr 6, 2008
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AIB to pay €40m bonuses despite bailout .. Shur why not!

Allied Irish Banks to pay

"Stricken Allied Irish Banks says court case forces it to give out bonuses while Ireland's taxpayers suffer"

Ah yes, Its not our fault, our hands are tied, its the big bad courts fault.

Robut
 


galleyslave

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Sep 24, 2010
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whoever approved those contract should be done for incompetence, and if incompetence isn't a crime it should be for these guys!
 

TheOneTruth

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Nov 15, 2009
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I really feel sickened reading this
Stricken Allied Irish Banks is preparing to hand out €40m (£34m) of bonuses next week – despite being on the brink of receiving another emergency bailout from the Irish government.
Allied Irish Banks to pay
 

carlovian

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But Lenihan told Pat kenny thered be no bonuses paid in irish banks till they were back making profits.

Something doesnt add up ?
 

frequency

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Yes it makes no sense

1) Bonuses for doing a bad job?

2) Perhaps they are "contracted" bonuses - much like my previous public sector contract, contracts can be torn up at will but only apparently for the public sector direct employee

3) What is the incentive to do an efficient job and give us value for money (much touted about regarding public sector services)? They are literally being rewarded for bad, unaccountable work that will cost multiples of the bonus to fix. The contracts for this badly performed work is being honoured.


....this is why people emigrate.....
 

captainwillard

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Mar 2, 2010
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This is real fun. it gives the mealy mouthed victims from p.ie something to whinge about. Guess what guys.... some people still earn bonuses.
 

McEavelli

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"Brian Lenihan told...." and "Brian Lenihan said...." statements must be true mustn't they?
 

eoghanacht

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From the IT article on this.

He was later told payment was being deferred until further notice. This had caused “unjustified hardship” to himself and his family the court heard last week.

AIB to pay up to €10m in backdated employee bonuses - The Irish Times - Wed, Nov 10, 2010

What in gods name would Mr. Foy and his grubby trader mates know about " hardship”.

I would like to thank Mr. Foy for being a true patriot and forgoing this payment in his country's hour of need.

 

Sync

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Aug 27, 2009
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/MOD/ Merged threads on Bank Bonuses /MOD/
 

eoghanacht

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This is real fun. it gives the mealy mouthed victims from p.ie something to whinge about. Guess what guys.... some people still earn bonuses.
Oh look here's capt willard playing the Devils Advocate............surprise, surprise.
 

Gadfly

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Nov 14, 2007
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354
But Lenihan told Pat kenny thered be no bonuses paid in irish banks till they were back making profits.

Something doesnt add up ?
In Lennyworld, things stopped adding up a long time ago.
 

TheOneTruth

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Nov 15, 2009
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Where is Foy living maybe a nice welcoming commitee outside his home could show himm some hardship
 

cry freedom

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This is real fun. it gives the mealy mouthed victims from p.ie something to whinge about. Guess what guys.... some people still earn bonuses.
`

Earn them for what exactly?
 

anewbeginning

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Jan 20, 2009
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4,616
I have a feeling every last cent of this 40 million will come from recapitalisation or else be borrowed from the IMF which the taxpayer will have to pay back with interest.

Once more a case of the banks raping the taxpayer.

But of course when you have a system of financial regulation where no-one ever goes to jail, episodes like this will happen week in week out.

A recent report into Irish Bank bonuses also said that bonuses were still being linked to risk taking in Irish banks. Looks like the same cycle is starting again, and the banking execs learned nothing.
 


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