Tuesday, 12th February 2013
RBS AND THE SCANDALOUS PAY AWARDS – When it comes to banking there appears to be no end to the ineptness, corruption and above all greed of our top bankers.
RBS boss Stephen Hester is now launching his plea in order to justify a pay bonus of £780,000 on top of his £1.6m salary, and this is after the Bank Traders, during his stewardship, were found to be rigging interest rates.
I have often talked about the ‘Old Boys Network’ of government and once again it clearly shows that they know how to take care of their own, while the general public foots the bill for their incessant greed. Why have I come to this conclusion? Stephen Hester is receiving backing from the Chairman of RBS Sir Philip Hampton, who is employed by the government due to the fact that it is the taxpayer who bailed out RBS to the tune of £45 billion after it went bankrupt due to gross mismanagement and yet, even in the height of this crises, people such as Fred Goodwin, the then boss, walked away will millions in bonuses.
I find it almost unbelievable that Sir Philip would describe Stephen Hester’s pay and bonuses ‘modest’ by banking standards, with just reinforces my belief that these people are not living in the real world.
It is reported that Sir Philip went on to say that Stephen Hester had in fact given up his bonus three times in the last four years – I’m wondering if this is due to the fact that he wasn’t entitled to them due to his inadequate performance; these so called bonuses are supposed to be awarded for performance and certainly with the mess of the RBS is it not surprising Stephen Hester was not awarded a bonus. In fact when you look at the bonus he is asking for this year you have to realize the only way he was able to achieve this was by rigging interest rates – not exactly good banking practices is it?
The conspiracy theory here is that the government ‘Old Boys Network’ is well aware that the good ship Britain is sinking under the weight of the EU and the masses influx of immigrants and they are simply lining their pockets for an exodus when the country finally sinks into the abyss through their inability to govern and their desire to get rich on the back of the hard working taxpayer.
There is one person who could put a stop to all this and that is David Cameron. The public did after all vote him in to take care of their interests and the RBS belongs to the public. It’s time David stepped in and sacked the lot of them but we know this is never going to happen as they are not into sacking their own insiders.
One thing is for certain, the banking sector is not going to get any better. It is all too easy for the inept and greedy to scrape a living off the taxpayer while government officials sit around and do nothing to protect the public interest.
This is another shameful side to British life but when you live in a country that is devoid of any moral standards by those in governance is it surprising that these people are not ashamed of taking the taxpayer’s money?