We learn today that the Chancellor is warning the City not to go back to the ways and days of big bonuses.
This is the same Chancellor who allowed a near £10 m pay and bonus package for the CEO of RBS, a bank where he represents the controlling shareholders!
This speech is almost as good as his “moral hazard” speech in 2007, saying the government would not bail out bad banks. I remember being very critical of that at the time. This is another corker.
John Redwood has been the Member of Parliament for Wokingham since 1987. First attending Kent College, Canterbury, he graduated from Magdalen College, and has a DPhil from All Souls, Oxford. A businessman by background, he has been a director of NM Rothschild merchant bank and chairman of a quoted industrial PLC.
11 Comments
You can no longer satirise this lot such is the stupidity. This from a man who is/isn’t having a spending review, in the midst of the worst ever peace time borrowing figures. This is the equivalent of the debtor who is so scared of his debts he refuses to open his credit card statement let alone give any thought to repayment. Additional policies are announced on the hoof with seemingly no clue of costs, let alone how they are to be met (re-nationalisation of some of the railways). I am in complete despair at what will be left at the end of all this.
But if the man with the comedy eyebrows is too mean with the banks, the directorships that he and his boss were expecting from helping Lloyds-TSB absorb HBOS might be at risk.
You have to consider the larger picture, especially if they are going to have time on their hands in a few months….
Odd that the extent of HBOS ‘toxic debt’ did not ‘come to light’ until after the government controlled Lloyds takeover.
I am sure that we all recognise the huge talent that Alistair and Gordon possess and that it is completely inconceivable that it would require a bribe of ten million pounds for Stephen Hester to recognise their value as NEDs.
Seems Alistair fancies himself as Pontious Plilate. For the product of Labours’ education failure, “washing hands” is the reference.
Who is the Chancellor? Is it someone called Darling or someone called Mandelson?
What a joke !
I’m reminded of one of my grandmother’s ‘truisms’ – “you need a very good memory to make a good liar”.
Government spinners seems to forget citizens have exceedingly good memories as well as intelligence.
Not facing up to your financial situation and burying your head in the sound is not a good tactic.
I think it is ‘sand’.
All talk
No Action.
10 million means. Whatever it takes.