Bank bail-out
17th October 2008
... Comments

I watched the panorama programme last night "Britain in the Red" which left me feeling completely let down by some of our top banking institutions.

One guest on the show, I think from a bank, was asked to comment on the point raised "The government has bailed out banks this week with £37 billion of taxpayers money, yet the banking bonuses paid out last year came to £17 billion". The man in question stated that he failed to see the relevance between the two figures - WHAT? Surely had these banking bosses not been taking such big bonuses then the banks themselves would not have needed such a huge help from the government? Surely they should only be taking bonuses when the banks are running at a profit? Surely the banks have not been running at a profit and that is why they needed help?

As a business owner it is like me taking myself a huge bonus today from my company account and putting that account into the red, then expecting someone else to come along and "bail" me out to get me back into the black?

I cannot believe that there has been so little accountability and it seems that the very people we have grown up learning to trust with our money are the very people who should not be allowed anywere near it.

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