06 February 2009

Bonuses for Bankers? It's Bonkers!

There is, understandably, a public outcry at the news that bankers may receive large bonuses - or any bonus at all, come to think of it.

I am amazed that bankers, whose mismanagement has at least contributed to the current financial crisis that we all face, could even contemplate the possibility of bonuses for their efforts. Taxpayers' money has been fed in to help revive the system on which we all appear to depend. This tax payer cannot agree that the money should be used to line the pockets of bankers.

Even if the bonus is in respect of performance in previous periods, I cannot countenance the payment: those previous periods, don't forget, paved the way to our current predicament and I see no reason why they should be rewarded for that. Goodness knows they don't actually need it, their salary before bonuses being more than the vast majority of us could even dream of.

Interestingly, if I do well at my job, I do not get a bonus. I just get paid for doing my job.

In my view, the payment of any bonus would be callous at least, if not actually immoral. It would give us all a boost if the boards of all the banks announced that all bonuses were suspended until the present crisis is over and their banks are free of public ownership.

So, that's what I think. What do you think?

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