Wednesday, 12 June 2013

How many pies for £5.6 million?

I see in the news today that Stephen 'too many pies' Hester (see here and here for history) has 'generously' agreed to give up his overpaid job in the Royal Bank of Scotland (RBS).  Some interesting points arise.

  • RBS is/was Scottish - perhaps - and yet the debts are British?  Hmm!
  • Hester is a public servant in that over 80% of RBS is owned by the UK Government, and yet he is not subject to the rules that apply to other public servants.  It seems that the government can pay him what they want, whatever his levels of success - or otherwise.
  • Hester couldn't bring himself to commit to working for RBS for a few years more, after a potential privatisation and hence . . .
  • Hester generously agrees to give up his job, on the basis of a payment (eventually) of £5.6 million.
Given the choice of working for that (undeserved and obscene amount of) cash or accepting it for doing f**k all, what would you choose?

After all, how many pies could a corpulent t**t buy for that much money? 

Furthermore, how can governments create contracts that are so generous and yet trample on ordinary people - and still expect to be re-elected?

Small note:  T**t could stand for 'twit'

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