This terms of contract bullshit really grates with me.
The frontline/junior BOI and AIB staff all had their pay frozen back in 08/09 despite contracts for pay rises etc being in place. The banks had no problems ripping up these contracts, but when it comes to the top boys they say there is nothing they can do because they are “contractually obliged” to pay it.
I think this news is appalling.
Fucking sickening. It’s a national outrage to be honest. You keep hearing the stories about the only positive to be taken from this is that the same systems which caused the banking crisis will never be replicated when nothing has fucking changed.
Not only that but we are paying an extortionate salary to someone in charge of a defunct organisation, and who had a part is causing the origanisation to become defunct.
I don’t know the ins and outs of it but if they are ‘contractually obliged’ which I doubt they actually are (didn’t Lenihan pull some strings to prevent Anglo lads getting a bonus despite saying he could do nothing), then bring the cunts through the courts. I would rather pay the extra court costs and have these cunts facing the public wrath than bend over and give them the cash.
First reaction to this is unbelievable but of course it is all believable. No chance of making a retrospective 99% tax on this I suppose. These cunts just don’t get it.
I’m surprised the lower ranks of staff haven’t walked out yet.
I know the BOI lower ranks were seething when news of the bonuses there came out before x-mas.
There were a number of “morale boosting” conference calls to try and keep them on side.
was there also not supposed to be a cap on senior managers pay in the banks of 450k ?
Im sure theres something in the 2010 central bank act that noonan could use to refuse to pay this. I have a suspicion yerman jumped because he failed the new fit and proper tests brought in with the above act
He has already been paid and is long gone with dough.
He was pushed by Lenihan because he was appointed from the existing internal board of directors against Lenihans wishes. So when AIB had to go back to the taxpayer for their 2nd go at the trough, Lenihan stipulated that Doherty had to go before they would get anymore money.
I heard that cunt Boucher lamenting how the news of the bonuses could have been better communicated, as if that was the only problem with it. And the guy who was questioning him just let the stumbling fuck away with it.
That is a ridiculous wage for these guys. They don’t deserve a quarter of that.
I’ve said it before and I’ll say it again, there needs to be some kind of Baader-Meinhof style group set up to deliver justice against these financial terrorists.
That Boucher is a cunt of the highest order and Noonan should fuck him out on the street. He was the guy who was in charge of lending when the bank was lending out money hand over fist. Boucher was also the fucker that lied to the Minister of Finance saying that they weren’t paying bonus’s to staff, this fucker should have been kicked out of the country for that.
I am hoping that Noonan will go in and sack everyone of the fuckers in Senior management and on the boards of these banks. There needs to be some blood letting done here before we get we can move on. The fuckers have been lying since the start of this poxy crisis.
I feel sorry for the normal joe working in the bank having to listen to these fuckers and having to listen to the public abusing them when they have nothing do with what has gone on at senior level.
+1 Fuckin’ A. 
Didn’t someone suggest a guillotine on St. Stephens’s Green?
It’s one thing having to pay out on contracts signed before the banks government support, whether it’s right or wrong you can see that there’s an argument for doing so (also against it before the bearded left union types like Rocko come after me).
The real error here appears to be the fact that Doherty was appointed after the introduction of the government guarantee - one would have to question how he was awarded such a generous contract in an institution that would have been bankrupt but for state support.
Wouldn’t say Doherty is all that bothered anyway.
I do feel very sorry for the lesser lights and minions working at branch level that have to deal with crazed loonies launching diatribes at them.
Anyone read Nyberg’s report? A good day for the accounting profession.
The accountant’s on this board look forward to the apologies to be issued by those who wrongly blamed them for the crisis.
Vindication. Now I know how The Maguire Seven must have felt.
Where does Colm Doherty live lads?
Oh you’re at it again.
I presume you’re engaging in hyperbole there Farmer. Do you really think you can pay the CEO of a bank less than 110K? You won’t get any sort of proper management at that salary.