Question: What is the price of failure in the UK today?
Answer: It is a 10 percent bonus, while the taxpayer is covering the loses on your loan book.
Come on, admit it; when you saw this story about Northern Rock staff getting a 10 percent bonus, you smiled. It is so ridiculous that you can't get angry.
This is Britain; financial services rule. Everyone else travels second class. Even state owned banks need their bonuses.
Wednesday, January 21, 2009
Northern Rock pocket 10 percent bonuses
Labels:
Bank of England,
buy-to-let,
crash,
finance,
mortgages,
UK,
UK banking,
UK economy
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