Thursday, 21 July 2011

Bankers Greed

Some months back I called for a tax on bankers bonuses to go to charity. At that time we were expecting a bonus pot of a mere £7 billion.

Well there was no bounds on the greed of the bankers. We now know it was £14 billion. And look how they snuck out the bad news . How they must be thanking the Murdochs.

It seems incredible how little they have learnt. We all remember Bob Diamond telling us all how "we need to move on". Well , the bankers cerainly have. Moved back to their irresponsible and greedy behaviour.

What a contrast to the news coming from the Horn of Africa. I was cheering when I heard The CEO of UNICEF an active ACEVO member calling for us to pay attention to the tragedy unfolding there. How many bankers used their bonuses to support good causes? Some undoubtedly did. I'm sure the majority did not.

So how about the British Bankers Association issuing an urgent appeal to their members to give to the DEC emergency appeal. See here. We need to return to the proper regulation of bonuses. It is a scandal they have been allowed to get away with a staggering £14 billion so soon after we all bailed them out.

The Government needs to return to the need to tax these windfall gains.

3 comments:

BBA said...

British Bankers' Association again. Sorry - of course DEC stands for Disasters Emergency Committee (not campaign). Best to be accurate.

Dan Filson said...

I'm impressed that the British Bankers' Association reads your blog, if only to amplify an acronym

BBA said...

We did more than that Dan, but when we posted our full response we were told it was awaiting verification. And it still is!