"Well, there is only one piece of advice I can give you," said the wisest of wise men. "The secret of happiness is to see all the marvels of the world and never to forget the drops of oil on the spoon."

('The Alchemist' Paulo Coelho)

Thursday, January 22, 2009

Northern Rock bonuses

Northern Rock employees are apparently about to receive large bonuses, for having met targets for repaying the £26 billion loan from the government, which of course, translates into the £26 billion loan from you and me, the poor, benighted tax-payers. They deserve this, it is said, because they have 'worked exceptionally hard in extremely difficult circumstances.' I'm sure they have, just as I'm sure lots of people in other jobs throughout the country have, even to the point of agreeing to reductions in their hours so that colleagues would not be made redundant and being forced to take weeks, even months off work in order to avoid losing their jobs.
Once again, this is an example of how banks and other financial institutions appear to lead a charmed life, with no consequences no matter what actions they take.
Call me naive, but I, in my simplicity, would have thought that those members of the public who have chosen to save their money with Northern Rock since its nationalisation have played at least some part.


gemmak said...

It's not on is it! It's just not on!

Flighty said...

Typical, and rather galling I think! xx

Jennyta said...

That's it in a nutshell, Flighty and Gemma. :(

Rosie said...

If I had any money to save I certainly wouldn't it in Northern Rock. I am so annoyed that they think it is ok to have a bonus this year.

Yorkshire Pudding said...

I have always preferred Northern Rock to Southern Rock... so much more earthy and physical with that driving rhythm section.

Jennyta said...

Mei neither, Rosie.
YP, methinks you are on the wrong track somehow! (Just go back to sleep):)

Ellee Seymour said...

It's totally unethical, I agree.

Jennyta said...

You're right, Ellee, yet the government protests that it can't do anything about it, in spite of having spent our money bailing them out.


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