Idiots: Bailed out bankers WILL get their bonuses after Brown backs down

The Government today gave up its bid to stop bailed-out royal Bank of Scotland paying out bonuses to the dealers who brought it to its knees.

Ministers admitted privately that they were powerless to punish bankers who had contracts guaranteeing them payouts even though the bank is now 70 per cent owned by the taxpayer. Some are set to get five-figure sums.

The embarrassing retreat follows a week in which senior ministers joined in a chorus of criticism of RBS for intending to pay bonuses totalling a billion pounds just months after it was forced to take £20 billion in bailouts.

One Whitehall official said: 'There is only so much we can do.'

It was even being speculated that bonuses will go ahead next year as well.

And three quarters of staff at Barclays' investment banking division, Barclays Capital, which has made use of the Treasury's loan guarantees, will get a bonus this year. The payments will be seen as a snub to public opinion.

http://www.dailymail.co.uk/news/article-1143762/Bailed-bankers-WILL-bonuses-Brown-backs-down.html

Idiots: Bailed out bankers WILL get their bonuses after Brown backs down

Idiots: Bailed out bankers WILL get their bonuses after Brown backs down

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