So the twats on the board of RBS are threatening to resign if they’re not allowed to shell out a stack of cash on bonus payments for investment banking staff. And apparently this places the chancellor in a quandry over whether to veto this proposal or not.
If you’re the chancellor and you’re wearing your political hat, I’d have thought the choice is obvious: veto the bonuses! RBS is 70% owned by the taxpayer, who is owed some £25 billion by the bank. RBS would not exist if it wasn’t for that bail out and the additional insurance offered to cover £280-odd billion of loans and investments in case they went sour. The public is still mightily pissed off with the greedy banker gits who have screwed our economy and driven many to the brink of ruin. If the chancellor sides with the bank and lets them award bonuses then he, and the rest of Labour, will be consigned to the opposition benches next year.
As to the RBS board and it’s whining about remaining competitive – fuck off! If your idea of competition means racking up huge losses and contributing to the biggest nose dive in the whole world’s economy for 70 years then yours is a brand of competition we don’t need! Also, it’s pretty clear that RBS hasn’t been employing the best banking staff anyway despite paying huge bonuses – your staff led the bank to the edge of collapse you dozy eejits!
Vince Cable of the LibDems has called on the chancellor to call the banker’s bluff. A financial analyst has suggested sacking the board before they get the chance to resign. Hear, bloody, hear!
Though I’d go further still. Sack the lot of them, freeze their assets, take their fancy homes, cars, boats and other crap, then force them to live on the average salary of £20,000 those of us living in the real world get by on annually.