Reading the various comment and analysis,I am not sure that is the case in the circumstances surrounding the news that RBS is set to pay out bonuses.
The Chancellor has said that he has talked with its chief executive Steven Hester and told him that nobody associated with its losses should be getting a pay out.
I fail to see how you distinguish between those that are and are not associated.
There is of course this argument that in order to maintain a thriving banking and financial sector we need to attract the best people.
Take a look at Mark Field's piece on Centre Right this morning in which he argues that
Our nation needs a thriving financial services sector. The spiritual home of the UK’s banking industry is in the City, but its importance as an employer and engine for economic growth extends throughout the land.
I agree to a certain extent but in these dire economic circumstances it is surely a prudent move to either defer or forgo these payouts.
As for the government simply responding to the arguments by setting up an enquiry well it smacks of a cover up pure and simply.Vince Cable has called it "a classic British establishment cover up".
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