Everybody knows the banks have been taking the mick with bonuses recently...
...but how about the bank’s regulator, the FSA?

This year the FSA is increasing the maximum bonus staff can get up to 15% of salary, that’s worth a cool £23m apparently. On top of this they are topping up “out of kilter” salaries by another £10m or so to get them to a competitive level. How can the Government insist that bank employees who have failed don’t get a bonus and in the same breath pay over £30m in bonuses to their own failed employees?

To be perfectly frank, it will always be the case that some financial companies will push the rules to the limit in pursuit of a fast buck. It’s the regulator’s job to ensure that they don’t go too far and make the financial markets unstable. Having completely and utterly failed in this task, they don’t deserve a pay rise any more than the bankers do.
( GarbageFan didn't know what to have as a board sig on, Mon 23 Feb 2009, 22:23, Reply)