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Thursday, November 26, 2009

Heads Banks Win, Tails You Lose

The banks have had a rather good week, from their perspective, in addition to winning their case at the Supreme Court over bank charges they have also managed to come out of the Walker Review unscathed.

Banks will only have to disclose the existence of all £1M pay packages. However, the recipients can remain anonymous. Additionally, this new requirement only comes into force for the 2010 calendar year.

The 2009 bonuses will have long since been spent on cars and houses by then.

Champagne all round!

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