Bankers' bonuses are beating all records - and all but the most senior managers of the banks will be able to take most of their bonuses in cash pretty well immediately. Just a year after the credit crisis reached its peak, it is generally agreed that the bankers' behaviour is obscene. it is certainly contemptuous of the mass of people whose lives will be adversely affected by the bankers' and securities traders' past antics for many years to come.
Meanwhile Britain's parliamentarians have got themselves in a pickle by having accepted an adjudicator on their expenses who has made up his own aberrant rules: they must now accept what he has said, or defy him and look corrupt and selfish. Either way, it means that politicians as a class do not have the moral authority to censure the bankers as they should.
Bizarrely, the one person who comes really well out of the past period is Alistair Darling, who predicted the depth of the crisis while on his summer holiday [to receive much ridiclue] and kept his cool throughout! While the Prime Minister postured, Darling beavered away; and when he made public statements they were measured, clear and comprehensible. It will be worse than unfortunate if he falls foul of the expenses kerfuffel in any serious way.
No comments:
Post a Comment
Please feel free to comment on any of the articles and subject matter that I write about. All comments will be reviewed and responded to in due course. Thanks for taking part.