This video says about itself:
10 May 2013
LIBOR is an average rate set by banks each morning; it measures how much they are going to charge each other for loans. Andrew Stoltmann comments that banks have not learned anything from the market crash of 2008; he further indicates that criminal indictments are needed in order for CEO’s to learn their lessons. Peter Sorrentino also agrees with Andrew’s statement.
By Will Stone in Britain:
Job-slashing boss of failing Barclays takes 1m bonus
Wednesday 4th March 2015
The boss of Barclays accepted a bonus payout yesterday despite taking home in one year what it would take a minimum-wage worker 465 years to earn.
Anthony Jenkins took a £1.1 million bonus for 2014, the first he had accepted in two years, raising his total annual earnings to £5.5m.
It will prove controversial after a year in which Barclays has slashed 14,000 jobs — with another 5,000 to go by 2016 — and closed 72 branches.
Pre-tax profits, down 21 per cent to £2.26 billion in 2014, have been hit after the bank increased provision to cover any outcome of the probe into the foreign exchange rate rigging scandal by £750m to £1.25bn.
It also increased by an extra £200m its provision to cover compensation for customers to whom it mis-sold payment protection insurance (PPI).
“The chief executive rightly recognises that the bank’s culture must change, but it is hard to have a positive view of any organisation that pays its boss £5.5m in a single year — a sum that would take a full-time worker on the minimum wage 465 years to earn.”