Bankers Bonuses

Back on Sept 1st the FT carried an interview with Prime Minister Gordon Brown in which good old GB vows to crack down on excessive pay for bankers. "We have to move faster" he said, referring to regulatory restructuring efforts that would allow regulators to claw back bankers' pay if performance subsequently suffered and set higher capital standards for banks.

Now here's my point - it's been nearly a year now since the global econimies went into melt down and trillions of GBP & USD were pumped into failing banks - so why is he NOW saying "We have to move faster"? Surely it's already too slow and too late. Big bonus payments are back and everything is returning to how they were before it all went bang, which means it'll happen AGAIN!

This week's news is that while the rest of the world recovers, and despite GB's promise that "Britain is well placed to make a quick recovery (from recession)" - we find that Britain is still deeper in recession than just about every other economy, with more debt and a government that hasn't got a single idea how to put things right. They are completely devoid of solutions beyond raising duty on fuel and slashing the NHS staffing levels.

I just hope the Great British Public vote labour into oblivion when the opportunity presents itself.