Friday, February 28, 2014


The theory behind banker's bonuses is that they're a reward for high performance. And if you pay them, it provides an incentive for staff to perform well in the future.

Royal Bank of Scotland shows the lie behind that. The company lost over 8 billion pounds last year. And its staff are being rewarded for that dismal performance with over half a billion pounds in bonuses.

This isn't a reward for high performance - its plunder. Greedy fat-cats are rewarding themselves and their mates for ruining a company. In the case of RBS, its even more obscene because the bank was bailed out by the UK government as a result of these clowns' mismanagement, so they're stealing taxpayer's money. That half a billion in bonuses could be going to the NHS instead.