People and rewards

It's been hectic in the econo-political world and the dust is not settling, Indeed the dust is being used to obscure the absence of the much promised reforms. The latest slap in the face of the electorate, delivered by the RBS executives, is the disgusting level of cash awards to themselves. Why are these vagabonds permitted to carry on in the same routines that have already caused the collapse of the banking system? If the 70% ownership of the bank is not sufficient to have any input to the regulation of salaries can anyone explain what purpose is served by taking shares? This bank is now a government institution and all employees should be subject to the rules that apply to the control of salaries. There has not been one word offered by the bankers to answer the question, What do you do to warrant the salary plus bonuses that you award yourselves?

Recently there was the case of the Ghurkas who sought to be paid the rate of pension paid to British servicemen. The argument from Government had been " we can't pay them a pension which would put them in a class above their fellow countrymen when they go back to Nepal". Common sense eventually prevailed and the Court judgement brought a change in policy. This is a similar case to the claim by bankers to be paid the going international rate. Salaries paid in a country should be relative to the local standard and not referred to that of any other country What is the basis for paying such vast sums to those whose actions have destroyed lives? And what about the pensions fiasco? By what right are employers allowed to wind up a pension scheme? Such schemes form part of the contract of employment and represent an inducement to join a company, in effect, wages in abeyance and being saved for future use. The banking fraternity in particular should remember that it was the pension funds that were used to save the banking industry in the 1970's. The system will be changed when people lose their fear , not their jobs.