Regardless of whether a bank actually took a Govt.subsidy during the crisis, all banks - all banks - benefited hugely from being underwritten by the taxpayers from the UK and the US - Despite this, they think it is their perogative to pay themselves hideously excessive bonuses when pretty much every other sector of society is suffering the consequences of light touch regulation, reckless lending by the banks, overly relaxed attitude to personal credit by joe public, and above all else, a global financial meltdown.
And it is galling to see people like Osbourne and Cameron attempting to suggest that this latest round of talks is somehow tough on bankers and a good deal for british business - Cameron who when in opposition suggested that bonuses should be no more than around 2,000 squid! And I am pretty uneasy that the Conservative Party funds are dominated by huge personal donations from a handful of hedge fund managers and financiers - too cosy by half.
Next time the w- oops bankers say that they will leave the country if those nasty taxpayers dont stop shouting at them, we should pack their bags and stick em on the first available flight out - We would have no worries in replacing them within seconds!