Bankia executives ordered to pay back bonuses

[The Spartan]

Bankia executives ordered to pay back bonuses | Business | guardian.co.uk

Oh and they've capped all the bonuses executives receive at state rescued banks, seems fair to me.

[Mich the Tester]

bonuses were agreed in April when the bank claimed 2011 profits of €300m. But auditors refused to sign the accounts and the bank eventually recognised a €3bn loss

If they'd allowed the bank to go bust the directors could be prosecuted and taken to the cleaners.

[BrilloPad]

I wonder how much of this money went straight offshore?

I bet a few will move abroad.

[vetran]

bonuses were agreed in April when the bank claimed 2011 profits of €300m. But auditors refused to sign the accounts and the bank eventually recognised a €3bn loss

bit like the EU then but the Auditors don't sign them off.


must be some way of prosecuting them of misreporting?

[The Spartan]

I wonder how much of this money went straight offshore?

I bet a few will move abroad.

Perhaps they should branded so it's easy to identify those that worked at failed banks lol, in all fairness it depends on what role they had at that bank. Do Lloyds and NatWest now cap bonuses for executives?

[Mich the Tester]

bit like the EU then but the Auditors don't sign them off.


must be some way of prosecuting them of misreporting?

Dunno, but in most EU countries if there are irregularities in the accounts in the case of bankruptcy of a limited company then directors can be held personally liable in bankruptcy court. Of course, our wbanker friends with their MBAs and business school edjumakayshun avoided bankruptcy proceedings by getting state subsidies for their failed businesses, paid for by those of us who are capable of running a profitable business and handing in correct and audited accounts on time.