After the Parliamentary enquiries the last few days into the Banks and their part in bringing about the global financial crisis I fail to see how they can justify the payment of massive bonuses to their staff. Just look at the figures:-
RBS Losses:£28bn Bail-out: £20bn Bonuses:£1bn
HBOS Losses:£5bn bail-out:£11.5bn Bonuses:£4.5m
It seems as if this crisis was fuelled by an endemic culture of incentivised risk taking. The bigger the risk the bigger the reward. All this taking place in an arena with only minimal internal and external regulation of the markets.How can individuals now be rewarded for not only bankrupting their banks but also the Country? Without the bail-out from the Government these individuals wouldn't be in work anyway.
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