It is reported today that RBS Chief Executive, Stephen Hester, is set to pocket up to £7 million worth of bonuses and payments next month - even though Cameron called for RBS to set an example by paying 'smaller bonuses'. What makes it worse is that RBS is owned by the taxpayer at approximately 85%.
Next month, it is still expected that £7 billion worth of bonuses will be dished out to city bankers regardless of the amount of welfare cuts that have been issued to tackle the deficit. Surely they should be the ones setting an example as the ones who caused the financial crisis but are still being awarded obscene bonuses.
Alas its no great surprise that the Conservatives talked tough but acted soft on banker's bonuses. It is quite clear that we are not all in this together and it adds insult to injury when ordinary families are paying the cost of the economy instead of the people who wrecked it that are being rewarded.
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