Sunday, 8 July 2012

??47 million to #Liebor

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The face of Jerry del Missier, the man who took £47 million for alleged rate-fixing. In March 2011, the Daily Mail ran an article: Greed 'is good': Anger as Barclays bosses hand themselves up to £47m a head in pay and bonuses - and then claim it's in best interests of Britain. It featured this neat little graphic of executive earnings:

Liebor

Of course, we could argue whether anyone should earn £47 million, especially from employment in which risks are taken with someone else's money, but that's another debate.

The real question lies in the judgement of an industry prepared to pay such wages without even checking the legality of what staff are doing. Since when were the "best interests" of any country served by lies and deceit?

Until recently, were we told that to toughen regulation would result in an exodus of top talent, yet a century or so ago, such talent would be in exodus to a penal colony.

Homes and businesses may have been lost to the lining of Mr del Missier's pocket, a pocket aggrandized by a whole host of denial in which ordinary people are suffering.

Four years we have been waiting to sort this mess out, yet all we see from Westminster are "vote for me" soundbites and spin. Never mind whether an enquiry is judge-led or parliamentary, get the Serious Fraud Office in, get our money back and give us some justice.
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