Showing posts with label Mike Geoghegan. Show all posts
Showing posts with label Mike Geoghegan. Show all posts

Friday, October 17, 2008

So how many bankers will go to jail?

None is a fairly safe prediction.

From Woody Guthrie's Pretty Boy Floyd -

Some will rob you with a six-gun
And some with a fountain pen
And as through your life you travel
Yes and through your life you roam
You will never see an outlaw
Drive a family from their home

This was written in the thirties during the depression which hopefully the politicians will not let us fall into again. I think it would be a good guess the guilty men will not be punished. The politician will let the guilt slide off them onto the bankers. Below are a few lines pulled off Google which shows why they make such easy targets.

HSBC - Stephen Green, who earns a basic salary of £1.25m a year, will not benefit from the bonus scheme. The bank's chief executive, Mike Geoghegan, could earn as much as 4m in bonuses, on top of his £1m-a-year salary, and up to £7m as part of the bank's long-term incentive plan, according to the proposals.

RBS - Sir Fred Goodwin, the chief executive of Royal Bank of Scotland, earned £4.1m last year, including a bonus for the bank's acquisition of ABN Amro, which the bank now admits it overpaid for.

HBOS - Andy Hornby, the boss of HBOS, earned £1.9m in 2007 but his bank was forced to sell itself to Lloyds TSB last month to avoid going bust.

Lloyds TSB - Lloyds own chief executive, Eric Daniels, was paid £2.4m last year.