Snout Of Order: Petition To Cap Bankers’ Bonuses
BEAT The Banker: sign our Anorak petition to stop bankers’ greedy salaries.
In the days BCC (Before Credit Crunch) we believed what we were told: senior executives are paid so much because you need to get the best people; traders get big bonuses because they are the wealth generators; you get what you pay for.
The people who should have been controlling such excesses in pay were the shareholders, the big institutions managing funds on our behalf.
Now it’s clear that most of these executives weren’t competent enough to run a cold bath, let alone a multi-national. Risks traders were taking to make their shareholders were risks with our money. We, the ordinary citizen, taxpayer and pension saver have had to come to the rescue. And it’s not just us that will pay the price, but our children, too.
There’s an irony that our Prime Minister and Chancellor get paid far less than the people they are now bailing out on our behalf – and people are still earning vast sums of money for their incompetence.
No-one who works for a company that has been bailed-out with taxpayers’ funds should be able to earn that much, until such money has been repaid.
Let’s be generous. If they are really good and generate money, let’s reward them and give them bonuses. But, however good they are, no-one should get more than, say, £500,000 in pay, bonuses etc.
If they don’t like it they are welcome to try and get a job somewhere else. Just like the rest of us might have to.
So join our campaign. Sign our petition by leaving a comment, and adding your weblog or site to the list. As owners of the banks, and underwriters of the car companies, we have a right to set the rules.
THE PETITION
We he undersigned as UK taxpayers are, by default, major shareholders and/or creditors in a number of institutions such as Banks and other concerns where payments or loans have been made by the UK Government.
As taxpayers and/or pensioners we demand that the employees of such companies are prevented from earning – through any form of remuneration including salary, fees, bonuses, pension payments or perks – anything more than £500,000 until such time as the debts of these institutions are repaid to the Government.
This is recognition that the undersigned were, unknowingly, underwriting the appalling business practices and incompetent management of such institutions and find it unacceptable to continue to reward the individuals involved.
Any employee who finds this unacceptable is welcome to seek employment elsewhere. We demand that the names of such employees are made public to us as shareholders.
Posted: 13th, February 2009 | In: Key Posts, Money Comments (97) | TrackBack | Permalink
