19th June 2013

http://www.guardian.co.uk/commentisfree/2013/jun/19/bankers-banged-up-return-planet-earth
http://www.guardian.co.uk/politics/2013/jun/18/cameron-early-swim-g8-day-two

19th June 2013

My favourite Head Boy,

I’m going to be quick today because I’m going to try and meet up with a few friends this morning, who, although aren’t your biggest fans, just can’t stop talking about you. You actually may be the most talked about politician since the Iron Lady herself. They still actually think I’m a similar loony lefty and think these letters are sarcastic despite my never-ending declarations of love and devotion. How absurd.

After a quick scan of the news, I was fairly surprised to see Giddy coming down so hard on the bankers especially after being the only voice of opposition in the EU when it came to capping their bonuses. He and everyone else in Parliament seems to be backing the report that calls for tougher measures for bankers found guilty of misconduct, from withholding of bonuses to jail time. I do tend to agree to be honest. But I do understand also, that as long as the blame for the cuts that are killing thousands and leaving millions in poverty, is being blamed on the state of the economy, and the state of the economy is being blamed on the bankers (oh, and Labour), it should help take the emphasis off yourself and your loyal disciples for the lack of economic growth and the destruction of the welfare state.

You see, violating human rights through slave labour; the taxing of the vulnerable and poor to the point of homelessness; the withdrawal of vital help for the sick through unfair work assessments; the replacement of our needs-based health service to a profits-based one – darling, these are all forgivable – indeed necessary – actions to bring up the overall standard of living for the people who aren’t already lost causes and can be helped. Bankers that engage in questionable activities that cause banks to lose money and shareholders to lose dividends, well their fate should be no less than the guillotine.

It is a good thing though, that despite these measures on individual bankers and calls for more restraint on banker rewards, we still have a banking culture in which a single bank like Barclays can have 400 executives on £1 million salaries, and countries like Japan are woefully behind by having just 300 similarly-paid executives in the entire country. We truly are ahead in the global race.

But it stands to reason that a bonus should be indicative of the product of the company. A bank makes money, therefore bonuses are paid in pounds sterling. Similarly, Gregg’s on the high street makes bread and snacks, therefore an exceptional employee should be rewarded in pasties or at least a sausage roll.

By the way, you are a meanie telling everyone how you’d gone for an early morning swim in the lake but won’t let anyone see the pictures. But you’ll let me won’t you? If you drop them in my inbox, I’ll send you a little something back, I promise. 😉

Katy Anchant

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