atans1

Another flaw in argument why ministers’ pay must be linked to fat cats ‘ pay

In Banks on 12/10/2018 at 1:25 pm

Many of the people in the fat cats top earners list that the PAP govt uses to set the pay for ministers are senior bank executives

But has the PAP govt ever tot about the banks’ KPI for bonus payments?

“If you rob a bank, you go to jail. If a banker robs you, he gets a bonus,” says a UK minibus saleman who found he had to lend money to tradesmen and SMEs so that they could afford to buy minibuses from him.

David Fishwick has since set up a SME lender and uses the tagline “Bank on Dave”. Knowing where the money is (twice over) he’s now turning to crowdfunding to raise £5m for a full banking licence.

But to be fair to bankers, Sir Douglas Flint who was the previous chairman of HSBC and a former finance director chairs the Archbishop of Canterbury’s Just Finance Foundation. And another ex-HSBC chairman and former CEO, Stephen Green was a lay preacher.

When these guys were senior executives, HSBC Mexico was doing “God’s work” (HSBC: Doing God’s Work?) by being the drug cartels’ favourite bank: HSBC: great customer & shareholder service.

Related post:HSBC should return to its roots

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