Thursday, 14 January 2010
When will bankers like this get their comeuppance?
Many people who saw or heard about the evidence given by Stephen Hester, Royal Bank of Scotland Chief Executive (pictured), to the Treasury Select Committe recently will share my anger I'm sure. There is no reasonable justification to award a £10 million pay package to this man - huge sums of public money had to be used to prop up the banking system! Its obscene, when there is so much need around, for anyone to be paid so much, whether banker, footballer or movie star. There is no way this is truly earned. Why have our politicians allowed such an unjust, unequal situation to develop?
We certainly need to redesign our financial system. It needs to serve the ‘real' economy that deals with goods, services, resources and the satisfaction of wants and needs. The big banks need breaking up. The ‘too big to fail' idea is seriously flawed. Banks need to be people and local community focussed. We also need a huge clampdown on tax avoidance - £10 billion in revenue can be generated, providing funds for investing in a secure and stable future.
Just to make it even worse for a Green, banker Stephen Hester and his partner are very keen foxhunters...