Err… I thought there was no money?


What planet is she living on? Angela Knight the Chief Executive of the British Bankers Association
Angela Knight, the chief executive of the British Bankers Association

The head of Britain’s banking lobby was widely condemned yesterday after claiming the days of bumper bonuses are over.

As City workers looked forward to lavish payouts of £4.2billion this Christmas, Angela Knight, chief executive of the British Bankers’ Association, said: ‘We are no longer in big bonus territory.’

She added the ‘continuing chorus of public concern’ over excessive pay was a mix of ‘well-informed criticism as well as unfocused anger’.

The row came a day after Bank of England governor Sir Mervyn King told banks to cut bonuses and use the cash saved to bolster themselves against the eurozone crisis.

Miss Knight’s comments, in a blog on the BBA website in response to Sir Mervyn, triggered a furious response from politicians and trade unions.

Liberal Democrat Lord Oakeshott, a close ally of Business Secretary Vince Cable, said her remarks were ‘amazingly complacent’ and asked: ‘What planet are bankers living on?’

The issue of fat-cat pay extends beyond banks to the boardrooms of major companies where executives have seen their earnings soar.

Thomson Reuters chief executive Tom Glocer unexpectedly quit the firm yesterday – and will walk away with at least £24million in pay and shares.

It is thought the state-controlled Lloyds Banking Group is trying to ‘claw back’ as much as half of the £1.45million bonus awarded to former  boss Eric Daniels.

Just to reiterate £4.2 BILLION in bonuses- not one off payments- but YEARLY bonuses… Now I don’t begrudge people that have worked hard and been successful their money- but the banks haven’t…

Lets see…

£4.2 billion…

That’s the yearly pay for:

120,000-Police Officers…

or

175,000-Nurses…

or

155,000-Teachers….

So, I thought the gov were going to be tough on them?

Tough on your old school friends?

I don’t think so…

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