It's a dull day today weatherwise, but the sun us shining on Barclays Bank. The CEO has reassured the world - again - that all is fine and dandy in his bank and that their annual financial statements in February will show wonderous figures that will exceed all expectations. The share value has gone up by 66% so far [at 11.30 am]. Is this real good news or more spin? We will see.
Over the week-end I saw a report that in 2008, bankers Merrill Lynch paid their 60,000 employees an average of $250,000 each. Did this include the bonuses? Bonuses pushed through by the CEO before his fantastic bank announced losses of $42,200,000,000 for the year - a figure that, apparently, exceeds its total profits in the last 25 years? And there was I, thinking that bankers were starting to find it tough going - unless, of course, the pay is a substantial drop on previous years. Who knows? Somebody will, I suppose.
I wonder if HMG can be persuaded to set state pensions at 10% of the average pay [including Christmas bonuses] of an investment banker?
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