Bankers breathtaking arrogance

The debacle surrounding the bank’s bonus structures is causing as much concern as it is providing comedy material.

Stephen Hester, the chief executive of the bailed-out bank RBS, says that bonuses are necessary to “keep the best people”. Are these the same people who were the architects of this crisis in the first place? What would happen if they were told that they could not get their bonuses? If they did threaten to walk, where would they go? It’s not as if this crisis was confined to Britain and these bankers would be headhunted elsewhere if their services were not secured on these shores. My heart bleeds for them all as they struggle on their meager million pound salaries whilst the rest of us have to live in the real world. If Executives were so desperate to reward failure, then they should do so out of their own salaries and then we would see just how keen they are to keep hold of “top talent”. These people developed risky strategies with our money with the sole aim of rewarding only financial growth and their inflated ego’s with millions of pounds. They have behaved irresponsibly, luring society down the path of greed where we have forgotten the value of everything except money.

The banker’s appearance at the Treasury Select Committee to confess their crimes was like watching a show trial. The people asking the questions were themselves responsible for the mess we are in. Many within the Select Committee will have voted for giving the banks a free reign to do as it pleased in the first place. Let’s have some of the politicians in the dock starting with “Greedy” Brown for crimes against the cash-strapped. Talk about pot calling the kettle black!