Peter Reynolds

The life and times of Peter Reynolds

STOP THIEF! £1.45 Million Banker Robber.

with 4 comments

An Easy Life For Eric

Lloyds Bank, 41% owned by you and me, is doling out a £1.45 million bonus to fat cat Eric Daniels.

True, he’s not quite as corpulent as his fellow banker robber, Stephen Hester of RBS, but then I don’t think either of them will be going hungry anytime soon – unlike the millions who they rip off and exploit every day.

He’s retiring next month.  I expect his senior years promise much more comfort and joy than other pensioners have to look forward to.

Daniels said he was “highly satisfied”.


Written by Peter Reynolds

February 25, 2011 at 1:32 pm

4 Responses

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  1. I think vodafone getting away with a 7 billion pound tax bill is the scandel of this century.
    LCA and Uk Uncut are or should be on about the same page, the times we are living in it would be tragic for the new lca to become a one issue party.
    Peter you are passionate about the circus around cannabis, but a stand also needs to be made on how our country is being run altogether.

    It stinks Lib Dems can no longer be the protest vote, theres a gap. Cant wait to see the new name and i hope you all go for it on all fronts.


    February 25, 2011 at 2:48 pm

  2. Agreed Peter,

    Being an Ex-Bank Worker, I have seen some very big changes to the Banking Systems, almost all to the detriment of the customer. Ironically the Consumer Credit Act 1974 which created to stop these rip-offs has now got more holes in than ethemmal cheese.

    Almost all the controls where in place in the 1980s when I worked for LLoyds Bank have gone out through the window,togeher with the insistance by the Banks and most large organisations to be bound by the computer has resulted in a loss of service, and more to the point loss of control. The machine has indeed become the man.

    It also concerns me that one of the most important controls within the terms of the Consumer Credit Act 1974 has now been now effectively set-aside by a Judgement made in the House of(Law) Lords last year, which effectively repealled the “Extortionate Credit Terms” Section of the Act, which restricted the maximum interest to be 50.1%.

    Following that Judgement, it means that the “Loan Shark” has been allowed out of the penn, back in to the water, preying on themost vulnerable, by allowing many dodgy loan firms that the Act was supposed to stop. As for the Office of Fair Tradining and The Banking Ombdusman, they seem to be official bodies with no teeth; and in fact from a recent experience through a neighbour, it seems that both OFT and Banking Ombudsman are from idependent, in fact postiviely in league with major lenders and Banks.

    Most of the Banks should be shut down for wrongful trading and the Directors imprisoned for obtaining money by menace.

    The Debt Collector

    February 25, 2011 at 4:51 pm

  3. The reason he’s been given a bonus is that the bank has become profitable again. How did he achieve this? He axed 21,000 jobs. He must be so pleased with himself. Proud that his hard work has been rewarded even. Not only profitable again but so many of those grubby little people not scrounging off the company anymore has made it such a nicer place for the rich to sip their XO and make polite conversation.


    February 25, 2011 at 7:42 pm

  4. Better not say too much as I still work at LBG (until the end of October when I’m taking redundancy rather than being slotted into some random role or other, having failed to keep my current job). But no, the rank and file bank workers are unimpressed by the remunueration gap between those at Eric’s level and those even at mine (and the levels go WELL down below that). The arrival of Antonio Horta-Osorio hasn’t improved morale, and in Scotland at least there is ….how shall I put it? disquiet…. at the amount being spent on the LONDON 2012 Olympics when so many workers (including yours truly) are losing their jobs. Just to be clear, I jumped before I could be pushed, and I’m old enough to draw my pension which provides a cushion of sorts. But the Banks’ (plural) priorities suck.


    April 27, 2011 at 2:30 am

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