Sir John Bartholemew, ennobled by a previous Tory government for his dedication to lining his own pockets, speaks for the UK banking sector in defence of the bonus system. “I’ve heard it said that giving bonuses to bankers is like tipping a waiter who spilled soup in your lap. That's disingenuous. For years we were handing out mortgages to anyone who could fog a mirror, which meant we lost a gazillion pounds just from lending to financially inept people like you. But those days are gone. We’re not even sure if ‘gazillion’ is a real number.
“We’re busy people, you know: those dodgy pension plans won’t mis-sell themselves. But by sticking to the tried and tested money/old rope formula, we are now making money hand over fist again. So it’s only right and fair that we should reap the rewards; these bonuses should be seen not as a privilege but a God-given right. Teachers and social workers may not need bonuses to do what they’re contracted to do for 40 hours each working week... but it's not like that for us. We're bankers, for God’s sake!”...
