1000 bankers leave RBS etc etc
http://business.times...ce/article6945945.ece
Imagine a bank not owned by the taxpayer, say barclays. If they want to pay awesome bonuses then what business it is of anyone else? Seriously, the petty jealousy and politics of envy in this country make me sick.
I have the choice of not banking with Barclays, I could go somewhere that pays lower bonuses but give better interest rates. Or Barclays might have the finest investors and make more money and so offer better rates/lower charges.
What we need is a system whereby shareholders can get involved to police the bonus levels and investment policies. They are the owners and should stand or be liable for losses. Rather than some communist from the FSA sending a form out to be ticked, making banks do three times as much useless paperwork then announcing tractor production is up.
As major shareholders the taxpayer would then have some proper control rather than kneejerk populist sound bite rubbish from politicians and the banks would be even keener to pay off the loans.