Bankers bonuses – UK challenges cap

The UK government has challenged the European Union who have set a limit on bankers bonuses, and the hearing date is set for today.

Let’s all feel sorry for the bankers shall we?

With current caps set by the EU standing at 100% of annual salary, it must be such a struggle for these city fat cats to get by. Some of them may only be able to afford one yacht this year!

Wealth makers

London is the banking capital of the world, and the government claims it’s worried that capping bonuses will force these bankers to move their business elsewhere.

The government claim these people are ‘wealth makers’, and losing them would severely impact the UK economy.

Is it a coincidence then that the UK treasury benefits from the extortionate bonuses paid to these economy gamblers, via tax deductions?!

Risky business

The global recession that hit from 2008 and is barely recovering now was caused by poor regulation by governments across the planet and greed of bankers who were paid huge bonuses for short term profits.

The profits on offer were of such magnitude that the long term impact of dodgy dealings, and sometimes fraudulent dealings, simply didn’t enter the mindsets of these people.

Banking bailouts

Such were the terrible judgements made by bankers that huge financial organisations found themselves crumbling and having to be rescued by governments…..if they were lucky.

In the UK there wasn’t a bank or lender that didn’t find itself fighting for it’s existence, making cutbacks and making wide-scale redundancies.

Innocent victims

So, surely these bankers who caused the crash would be the first in the line to be made redundant?

Nope! These bankers continued to receive huge salaries, and gigantic bonuses.

Instead it was front line cashiers and general banking staff that found themselves looking for new jobs.

It was the taxpayers who picked up the bill.

The recession has affected millions, and probably billions across the world, yet the people who caused it in the first instance got away with their actions, and are now fighting the European Union because they’ve had a cap placed on their bonuses, even though the cap means they could still earn double their salary!

Banking trust

It’s of little surprise that peoples trust in the banks has now evaporated. The bank manager used to be regarded in the same high moral standing as a doctor or a teacher. Somebody you could place your trust in, somebody who would give you the best advice for your finances.

Fast forward and now it’s the person who mis-sells PPI, and mis-sells Packaged Bank Accounts.

Now it’s the person who is targeted by their greedy employer, the bank, to sell allsorts of useless insurances and products in order to generate obscene profits for the bank, and big bonuses for themselves.

With millions of people across the UK being mis-sold products, Your Money Claim believes if you haven’t been mis-sold PPI, or a Packaged Bank Account, then you will be in a minority, such is the scale of the frankly disgusting tactics the banks have used.

Your Money Claim can carry out the necessary checks and deal with the banks on your behalf every step of the way, and with the average customer receiving £3,332** it could be the best decision you make this year.

Bankers bonuses