Snout Of Order: Cap Bonuses And Investors Paid First

SNOUT Of Order: Petition To Cap Bankers’ Bonuses: Vince Cable and Belgium and bust:

Says Vince Cable:

Managers now seek their ‘bonuses’, arguing that their unique skills are needed to dig the bank out of the hole they created. This is a little like the managers of a hospital with a terrible record of poor hygiene and premature deaths surviving the sack, then demanding more money as an incentive to improve.

Snout Of Order: Petition To Cap Bankers’ Bonuses

As Tim says:

That is indeed how the public sector works. Given that the banks are (or some of them are) now in the public sector, this is how they should indeed work, isn’t it?

From Times Online:

LORD TRUSCOTT, one of four peers named in the “lords for hire” scandal, has taken at least £70,000 in allowances for overnight accommodation in London while staying at his home in the capital. He uses the allowance to maintain a £700,000 flat he owns in Mayfair, central London, with his Russian wife, Svetlana.

Snout Of Order: Petition To Cap Bankers’ Bonuses

And, Guido notices:

The Mail on Sunday has caught Jacqui Smith, the Home Secretary, fiddling her expenses to the tune of £116,000 - bang to rights.

• She claims her “main home” is the one she stays in when in London - except it belongs to her sister.
• She claims her “second home” is the home she owns in her constituency. However her own official website says she and her family live there.

Tory blogger Iain Dale enjoys it:

She uses as her defence the fact that she spends more nights in London than at her constituency home, even though a spokesman admits she arrives in London on a Monday morning and leaves on Thursday evening, meaning she must spend only three nights a week there. “She doesn’t count the nights,” says the spokesman. Oh, that’s all right then.

Snout Of Order: Petition To Cap Bankers’ Bonuses

On the BBC, LibDem leader Nick Clegg says board members on bailed out banks should get no bonus. But the rest should.  Why? They are still in a job because we have bankrolled them. Why should anyone who works for a bailed out business get a bonus? Is it because they are the many voters and Clegg thinks if he takes away their bonuses they are even less likely to vote for his party?

It is the taxpayer who should get any bonus - in interest payments or a reduction in National Insurance or a few premium bonds.

Join in:

Snout Of Order: Petition To Cap Bankers’ Bonuses

Image: BOH

Anorak

Posted: 8th, February 2009 | In: Money Comment | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink