for the ‘Finance’ Category

Fellow Greeks, we’re not doing very well lately, are we? What with owing to everyone that ever had a dollar of investable capital, the austerity measures, the unemployment, the ubiquitous corruption, and of course the loss to Germany in the Euro 2012 quarter finals. Yes, we’ve had better times in the past -I remember reading about some Pericleus dude in Ancient Athens…

If you have not picked up the sarcasm in the title then you may want to look away… As BBC reported Royal Bank of Scotland (RBS) boss Stephen Hester rejected his £1m bonus in restricted stock, following very strong political pressure. This sent shivers down the spines of the public, mostly those that are a bit out-of-touch-with-reality and have very superficial understanding of how these things (should) work. Let me use this example to talk generally about the situation with high pay and bonuses in the banking sector.