This video from Britain is called Banks To Pay 5 Billion in Annual Bonuses.
From daily The Guardian in Britain:
RBS bankers get £950m in bonuses despite £1.1bn loss
* Jill Treanor
* Thursday 24 February 2011 09.08 GMT
Stephen Hester, who was parachuted in as chief executive in October 2008, confirmed that he intended to accept the £2.04m bonus that was announced earlier this month as part of the Project Merlin deal with the government. …
Despite this reduction in the bonus pool, the proportion of revenue the bank uses to pay its investment banking staff rose to 34% from 26% a year ago, although the bank insisted that pay had fallen by £200m in the division.
Len McCluskey, the general secretary of Unite, said: “Taxpayers will today be baffled as to how it is possible that while we own 84% of this bank it continues to so handsomely reward its investment bankers. This is an institution in which over 21,000 front-line and support staff have been sacked, RBS still refuses to lend enough to small businesses and bonuses are free flowing.
“Because of our taxpayer funding RBS is gradually recovering from the mess caused by its greedy bankers. Yet the chancellor continues to tolerate the award of some £950m in bonuses to the culprits, instead of ensuring our taxes do not become worthless.”
Finance union Unite demanded today that Royal Bank of Scotland comes clean about its use of expensive contractors after a recruitment agency mistakenly emailed the details of hefty pay packets for thousands of temporary staff: here.
Lloyds bank profits: here.
Britain: Tax justice campaigners today slammed a decision by ministers to approve a £7.7 million pay package for RBS chief executive Stephen Hester: here.
The same day that the Wall Street Journal reported a sharp rise in CEO bonuses, the Federal Reserve said it would eliminate dividend payment restrictions on 19 banks bailed out by the US government: here.