Monday, Jun 22, 2009
Prudent pay awarded to civil servant
Telegraph: Unions attack £9.6m pay deal for RBS chief Stephen Hester
Mr Hester was parachuted into the role last Autumn after the former chief executive Sir Fred Goodwin was ousted - was the parachute golden by any chance??
Posted by matt_the_hat @ 11:56 AM (529 views) Add Comment
3 Comments
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1. japanese uncle said...
One parasite is gone, just to be replaced with another.
2. icarus said...
He gets rewarded for driving up the share price but, as we have seen, there's no correlation between banks' share prices and the health of the economy. The latter should be a priority if the bank is publicly owned. We have seen over the past decade the subordination of the credit system's public function to the expansion of finance capital for its own sake, with the latter absorbing an expanding share of profits to the detriment of the rest of the economy (loans for blowing up asset bubbles rather than for productive capital).
3. Mr Plumbase said...
Looks like business as usual then.