Summary
THE Prime Minister has let it be known that he is "very angry" about bank executives who are intent on taking bonuses this season and wants them to "consider whether they should actually receive" those to which they are legally entitled. He probably has in mind those RBS executives who seem likely to share hundreds of millions of pounds in bonuses.
The bank, which survives on the basis of a Pounds 20 billion bail- out from the taxpayer, is now almost 70 per cent state-owned. It would be gratifying to think that there exist bankers with sufficient sense of noblesse oblige to forgo their bonuses in the present climate. But Gordon Brown's exhortations are likely, alas, to carry little weight.See the full content of this document
Extract
Tackling the Bonus Culture [Edition 2]
Stephen Hester, the RBS group chief executive, has been at pains to say that o...
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