Saturday, 18 October 2008

Tough talk on bonuses means nothing.

. Both Gordon Brown and David Cameron have talked tough on bonuses for City bankers. However, two stories in this mornings paper show that taxpayers bail-out money is still being spent on bonuses. The Guardian reports that;

"Financial workers at Wall Street's top banks are to receive pay deals worth more than $70bn (£40bn), a substantial proportion of which is expected to be paid in discretionary bonuses, for their work so far this year."

Meanwhile, The Independent reports;

"City bankers have not lost a penny of their multimillion-pound bonus packages so far".

We have criticised David Cameron for attacking the government this week on the economy but is it not about time we actually held it to account too especially when it seems obvious that the bail-out is substantial reward for a failed system.

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