This morning on The Andrew Marr Politics Show (BBC), Alistair Darling the Labour Chancellor has stated that "the holiday for the banks is over". Now that is welcome news. Apparently, The UK Treasury is about to launch an investigation into the bonus practices of the UK banking sector, and hopefully, put the brakes on.
RBS Bank has now made it known that they will probably be paying out approximately 1billion pounds in bonuses to their Traders and Executives, while they have just received tens of billions of tax payers money from the government to keep them afloat. The mind boggles!!!
If you care to read my blog from 31/01/09 you will see a lot of similarities between the arguements I put forward, and the current reactions by the politicians.
Darling stated that bank employees have indeed reached a stage where bonuses are no longer given to reward good work, but think it is their right whether they do a good job or not! Thankfully he is of the same opinion I am, that this practice has to stop. We will see!
For now, keep your money under the mattrass.
Smile, its never as bad as it could be!.
Roy
That's the trouble in the whole world. Everything turns around money and profit. I have my doubts whether this will ever change.
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