Five Barclay's bankers haver received over 100 Million pounds in a bonus bonanza. The bank has been forced to publish these unprecedented amounts as a result of Project Merlin. Two Directors, Rich Ricci and Jerry De Missier are reported to have received obscene sums over 40 million pounds each, including share offers.
It's ironic that the 5 bankers " earnings" are enough to cover the whole amount that Brent Council has had cut from Government grant over the next 4 years. Maybe it's time for Barclay's shareholders and customers to take action where the Government have clearly failed.
A Bill should be introduced in the Parliament, forcing bankers to charge their business customers no more than 0.5% above the base rate and no more than 1% above the base rate for mortgages. The bonus should then be linked to capital ratios (to be increased by 100 bases point year on year each year upto 2020) and the amount lent (leading to job creation). The banks under government ownership could and should take the lead. The threat of such a bill would bring them to the negotiating table, whereby the cartel like behaviour in the banking sector can be curbed.
ReplyDeletesorry about the id... was posted by me, gaurang, as I watch the Question Time (Sunday ... missed it on Thursday)
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