Too shocked to post anything profound. The guy who lead HBOS to disaster, who is responsible for thousands of people losing their jobs, is getting £2 million worth of shares. Somehow that just doesn't seem right.
I have to say I am also concerned about the competition commission ignoring this deal. I already have some major doubts about the competition commission anyway after their handling of vets, but this seems ludicrous. In normal times we wouldn't let this go through but now it's OK! Lloyds must be laughing. Because in a few years the dust will have settled, the credit crunch will be over, and then Lloyds can use their massive share of the market however they want. They say it's an ill wind that blows no-one any good. Lloyds and Barclays are making sure they reap the benefits, and I somehow doubt they willl ever reap the whirlwind.
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I'm often amazed by the huge rewards people get for being in charge of huge businesses, and am not convinced by the arguments for such immense inequality. But when I hear about such rewards for massive failure, it becomes obscene.
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