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BOI 's Richie Boucher gets a Pay Top up !!??



kevmac

Active member
Joined
Sep 30, 2005
Messages
155
This has really gotten beyond the joke instead of begging taxpayers thanks everyday bankers in Ireland really seem to enjoy new ways of taking the pi$$ out of us. First jack up mortgage rates, second no loans to small business etc. third this nonsense. Quick question has "Fingers" paid back his million bonus like he promised to do last year? Answers on a postcard to Brian Cowan
 

escoline

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Joined
Mar 19, 2010
Messages
1,128
This has really gotten beyond the joke instead of begging taxpayers thanks everyday bankers in Ireland really seem to enjoy new ways of taking the pi$$ out of us. First jack up mortgage rates, second no loans to small business etc. third this nonsense. Quick question has "Fingers" paid back his million bonus like he promised to do last year? Answers on a postcard to Brian Cowan
How can those appointed as public interest directors approve of this insanity.
 

MadAsHell

Member
Joined
May 7, 2009
Messages
91
Words fail me.
 
B

birthday

When will shareholders get a chance to vote for his re-election?
How will pension funds vote?
 

Anorakphobia

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Joined
Apr 13, 2007
Messages
911
And just in case anyone wasn't aware, before he got the top job Boucher was hugely and directly involved in approving many of the largest delinquent loans in BOI that are now NAMA bound.
375k per year guarnteed even if he retires at 55.
If he lived for 30 years he'd cost us over 10 million.

Plus the salary cap of 500k torn to shreds once more with his 625k basic salary.



No doubt Richie will toast his success over the weekend with his great pal Sean Dunne.

This country is retarded!
 

EvotingMachine0197

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Joined
Feb 17, 2006
Messages
8,552
When will shareholders get a chance to vote for his re-election?
How will pension funds vote?
Shareholders don't give a crap about these things. If Richie can come up with the 3 Billion odd they need, then all is well.
 

charley

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Apr 3, 2009
Messages
1,247
why isn't he on a commission only salary if he is such a hotshot ,
off topic when do the bank redundancies start?
 

powderfinger

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Jun 13, 2007
Messages
3,350
That is one of two injections bound for Salix that were announced this week.The other was the €750m transfer in promised from BoI following acceptance of changes proposed to address the funding shortfall .
B of I workers to vote on changes to pension scheme - The Irish Times - Thu, Apr 08, 2010
Bank of Ireland said yesterday the changes would result in the elimination of 50 per cent of the €1.6 billion deficit, with the Bank contributing a further €750 million over the next five years.
How much do BoI expect to realise from the announced sale of BIAM,ICS and New Ireland?
 

cyberianpan

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Joined
Jan 18, 2006
Messages
16,347
Website
www.google.com
Well BOI have come out of the property loans saga the best, the State will get its money back from them

Also this isn't a "bonus" - it is a private sector company accounting for its pensions properly

cYp
 

EvotingMachine0197

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Feb 17, 2006
Messages
8,552

Mop

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Jul 21, 2009
Messages
31
I'm really struggling with this country. Yes we dont have to walk miles for water just yet, but jeysus........................
 

Anorakphobia

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Joined
Apr 13, 2007
Messages
911
Well BOI have come out of the property loans saga the best, the State will get its money back from them

Also this isn't a "bonus" - it is a private sector company accounting for its pensions properly

cYp
Firstly, it will be years before we can definitively state that anyone has "come out of the property saga best"

Secondly and more importantly, why should anyone be hugely rewarded for having written loans that are at best marginally less catastrophic than your peers?
And make no mistake Richie Boucher was front and central in BOI lending to big developers as head of coroporate banking.

He of course should never have been given the job given his central role in lending but he got it before (Feb 2009) before the public and shareholders fully understood the scale of the disaster.

His elevation is living proof that bankers simply haven't accepted they were wrong and privately believe they were just unlucky, timing, cycles etc.
It will happen again, nothing surer becaause banks are gamblers full stop. The next catastrophe won't be property but it will come, nothing surer because banks just gamble, always have and always will.
All three Irish banks (yes Anglo included) still to the best of my knowledge engage in proprietary trading (using employee'S "SKILLS" to punt markets).
Imagine given all that's gone, letting the same idiots in all three of these cesspits speculate with billions of our money yet again??
 

DCon

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Joined
May 5, 2009
Messages
5,889
He will have a nice life in the future.

Mr Boucher has an option to retire at the age of 55 on a pension of €367,570 a year.
 

Beaker

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Joined
Apr 6, 2010
Messages
450
You have to reward quality, where would the country be if such talent found jobs elsewhere?
How on earth can you call the behaviour of any Irish businessnperson as "talent" at this point is beyond me ! There is no particular talent in Ireland, apart from screwing the system. Its absurd to believe that anything other than a safe set of hands is required, and for this, any moderate functionary would be sufficient. If the job dosent pay enough for Boucher, let him go, someone will take the job, and as long as Irish taxpayers are footing the bill, as cheap as possible until the bank is on its own legs again. There is an absurd sense of the single importance of particular people! This is the same in the civil service, where senior staff have become deluded on the importance of themselves. If people are so "Talented" let them hock their wares on the jobs market to test their true value....
 
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hammer

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Joined
Jul 6, 2009
Messages
58,180
Maybe BOI wont need further recapitalisation and can repay the €3,500 million back over the next 2/3 years :) :)

Happy days.
 
D

Deleted member 17573

You have to reward quality, where would the country be if such talent found jobs elsewhere?
Maybe it is time to put that little bit of bankers' propaganda to the test. Offer the second layer of management a salary of 300k or a P45? I'm sure they'll all be snapped up!!
 

Centrist

New member
Joined
Apr 17, 2010
Messages
2
I just finished a blog post on this comparing the bank bailouts to the 2010 budget. We are throwing away money and for what?
 


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