Thursday, 3 December 2009

Sack The Board

According to the BBC's Robert Peston, the board of RBS has been given legal advice that it would be incumbent upon them to quit if the government vetoed the £1.5 billion in bonuses currently being proposed to reward the bank's investment banking section, that's the same section that is currently at risk of losing a few more billions in the hole in the desert that is Dubai. Nice work boys.

Good. Let them quit. Veto those bonuses. Let's finally test this argument that banks have to pay these bonuses in order to retain their staff. I suspect like many others that this is self serving nonsense. Wouldn't it be be awful if it were finally demonstrated via the only thing that they really understand - money - that these overpaid, bumptious, self satisfied twerps are really just legends in their own imaginations and not the masters of the universe they claim to be? What a great way to start a new decade that would be.

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