Monday, 30 January 2012

Thuggish, Bullying Politics

The Chief Executive of RBS has declined his £900,000 bonus because he felt he was being made a paraiah by politicians. Personally, I don't think salaried employees should receive an annual salary of £1.4 million or bonuses, unless for exceptional service. Bonuses don't properly reward good work, merely achieving targets, something that the Civil Service infatuation with Performance Pay clearly demonstrates.  If Mr Hester was risking his own money, as a partner, then there would be justification for large salaries. Indeed the banking and financial services industry would be more wisely self-regulated if partners stood to lose their homes if risky investments failed instead of the Bank of Taxpayers underwriting the insurance costs of their dealing going sour.

But when pygmy MPs get up on their hind legs and claim the moral high ground (how can scum who are trying to ease themselves back into a free-money expenses regime without us noticing, speak of morality?) and say that paying someone according to their contractual terms is unfair, I reach for my revolver. Politicians are content to tear up public servants' pension schemes (but not their own well-upholstered arrangements) but pick and choose their targets - perhaps they are hoping for easy Milliband , Blair, Brown jobs on boards with trips to Davos etc. They are like those sad plonkers who moan about Payment Protection Insurance, "But I didn't understand it."  To quote Warren Buffet, the Sage of Omaha, "If you don't understand it, don't buy it." Mr Buffet is a billionaire. I realise that the people who negotiated and signed off the contract with Mr Hester were probably morons with sharp elbows (how else would they reach the necessary pay grade?) but why don't they write off the costs of someone who did his job against their own training budgets? Don't make that mistake again.

And it's sickening that politicians don't criticise the nonsense money paid to footballers, managers and hangers on. They tolerate these modern day gladiators and charioteers because their circuses and soaps and "reality telly"distract the sheeple from waking up, smelling the shit and complaining about being tax-farmed for the benefit of the 1% of business and politicians.

We are not living in a democracy with the rule of law, we are living in a post-Fascist corporate state in which, as in Sparta, he who shouts or lobbies loudest, wins the argument. Right and wrong have left the building.

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