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Peter Reynolds

The life and times of Peter Reynolds

Posts Tagged ‘excess

The Public Sector Pay Scandal

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There are very few things in politics that are simple.  This is an exception.  The principle, implied by Panorama, that no one in the public sector should be paid more than the prime minister seems very sensible to me.

I already knew that BBC senior executives enjoy vastly overinflated pay but the fact that Mark Thompson, director-general of the BBC, gets £838,000 per annum is shocking.   It is particularly hard to take after the absurd spectacle of the Pope’s visit.  The leader of a very minor church, presently mired in appalling scandal, has enjoyed a bonanza of free, round the clock, TV, radio and internet promotion.  I didn’t know but it turns out that Mark Thompson is a rabid Catholic.  He has a nerve to run his own private campaigns at our expense!  This is too much!

He is at the top and is the very worst of a deeply depressing list of excess and vanity.  I am sure that many of these people are very able and skilled in their profession.  If and when they choose to go into the private sector they may well make millions.  While in the public sector, every single one of them should be very grateful for the privilege to serve.

The argument about market forces, put forward by the leader of Liverpool City Council, is just a weak excuse.  If he really believes it then he needs to think again.  Believe me, real market forces will sort this out, no problem.  We will still get the very best in senior positions if we recruit properly.  Successful people will seek to make their name in the public sector first, in prestige positions, then move on to make their fortune.

I say increase the prime minister’s salary to £250,000.  These gestures of senior politicians cutting their own pay are meaningless and impress no one.  Make that the maximum that anyone in the public sector can earn.  Enforce it immediately.  All salaries to be trimmed to that level from 1st October.  I see everything in favour of this and nothing against.

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Barclays’ Biggest Banker Robber Plans Smash ‘n’ Grab On Britain

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The Unacceptable Face Of Banking

We don’t want Bob Diamond in Britain. He’s to be the next chief executive at Barclays Bank.  See here.  He’s not the “right sort of chap” for us or, if you prefer, he doesn’t have “the right stuff” for Britain.  He’s a wide boy and a high stakes gambler.  We don’t want him anywhere near our banks, our savings or our overdrafts.  Why can’t he just go back to the land of the free and the home of the brave and chowdown with all the other cowboys?  He’s the wrong man for Britain.

It’s people like Bob Diamond who were directly responsible for the banking crisis and for bringing the world’s economy virtually to its knees.   He won all his bets so he’s alright.  Let’s be clear though, it’s his behaviour and those like him that is to blame for the massive cuts that we’re all facing.  He has robbed our parents of their pensions, hamstringed our business world, destroyed our children’s jobs and sabotaged their children’s education.  He is laughing all over his flabby, smug face at our expense.

He’s won a £100 million fortune on exactly the sort of gambling which has destroyed our economy.

Vince Cable should stop posturing.  He was great in opposition but it seems, even in government, all he can do is snipe from the sidelines.

I say, deny Bob Diamond entry into Britain on the grounds that he would be a danger to the country.  Barclays may claim that it has accepted no help from the taxpayer but its exploitative business model depends on blackmailing us with its size and importance to the economy, just like all the banks.

What we needed to do was clamp down hard on their excess, split them into smaller pieces, separate casino investment from banking services, force them into accountable lending policies, severly limit earnings levels and make it clear that they work for us, not vice versa.

We may already be too late.  Britain’s banks continue to be out of control.