Why, may I ask are we paying enormous bonuses to bankers? Make no mistake it is we who are paying these bonuses. Even in good times the banks make their money from us the public. They make money when we save money with the banks and they make money when we borrow from the banks, and now they have had a series of bailouts and loans from the taxpayer. Why, indeed are we paying bonuses at all to people who have pursued policies that have brought the companies they work for to the brink of ruin.
One might argue that it is up to the shareholders to decide the remuneration of executives. But now the government has no excuse. The government is the major shareholder in some of these banks. And what is the government doing – launching an investigation!
Is that the best that they can do?