Curly's Corner Shop, the blog!

South Shields premier political blog

Banker’s benefits

with 3 comments

Bail out bonus for bankers

Three little pieces of press coverage for the Tax Payers Alliance which really manage to boil the ****!

At Northern Crock Rock Chief exec Gary Hoffman, 48, who only started this month, is set for £420,000 on top of his £700,000 salary. He has already had £1.2million for giving up long-term bonuses in his last job at Barclays. The TaxPayers’ Alliance condemned it as “outrageous”.

Eric Daniels, chief executive of Lloyds TSB, was accused of “typical arrogance” after reassuring staff that despite the Government pledging to crack down on Fat Cat rewards, staff would still receive bonuses.He said: “If you think about it, the first restriction was not to pay bonuses. “Well, Lloyds TSB is in fact going to pay bonuses.”

But Eddie Weatherill, of the Banking Advisory Service, said: “It is typical bank arrogance to be blunt. Everybody else in the country is going to pay for the bankers’ actions and unfortunately the bankers don’t see they are the biggest problem.”

What has happened to Gordon Brown’s conditions attached to the banking bail outs which would “bring an end to rewards for failure”?

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Written by curly

October 23, 2008 at 10:03 am

3 Responses

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  1. […] Original post by curly […]

    Curly’s Corner Shop

    October 23, 2008 at 10:20 am

  2. I believe that’s exactly why we shouldn’t have had a bailout.


    October 23, 2008 at 12:54 pm

  3. interesting…typical of bank arrogance to be blunt.

    nice post! I have some similar posts.


    October 25, 2009 at 8:57 pm

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