Time To Say No To Public Money Funding Banker's Bonuses

I'm sick of hearing bankers demanding grotesque, sky-high bonuses only a year after bringing the global economy to its knees. This is particularly grotesque for those bankers demanding bonuses using our money - only a year after taxpayer intervention saved banks like RBS from the consequences of their own folly.


We spent £850 billion of public money bailing out the banks after bankers made catstrophic mistakes. The banks high risk, irresponsible business model combined with lack of Government regulation and Gordon Brown's mismanagement to trigger the recession that is still having devastating consequences across the North East.

While the rest of us are having to tighten our belts, it is frankly disgusting that bankers are intent on rewarding themselves with sky high bonuses and continuing their champagne lifestyle, irrespective of the damage that their poor decisions caused to the economy.

Bonuses for bankers at the moment would not amount to bonuses to reward good performance. They would amount to bonuses using public money out of a sense of entitlement. Surely the bankers demanding grotesque bonuses will discover a sense of humility. When we are suffering from mass unemployment, it is frankly wrong that public money is being spent to pay banker's bonuses.