Failed banks are lining up a christmas bonanza for their incompetent staff. The RBS has set aside billions of taxpayers money to pay bonusus. Other state owned banks will likely do the same.
This really is as bad as it looks. These banks are, for all practical purposes, insolvent. The government has injected billions of pounds, and this money is about to disappear as cash payments to staff.
Can the management of our bankrupt banks really be that stupid? Do they have any idea of the anger they will provoke if they go ahead and pay bonuses this year?
Friday, October 31, 2008
Stop the bank bonuses
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