Oink Oink

In case you weren’t clear about the voracious greed & irresponsibility of the financial class-

City bankers and financiers are scooping bumper pay rises to compensate for losing multimillion pound bonuses in a controversial development that will trigger fresh “reward for failure” rows.

The Observer has learnt that UBS, the stricken bank that last year received a £40bn Swiss government bailout, is paying London staff increases of between 15% and 20% at a time when many workers in Britain are forced to take wage freezes.

Though it is understood some equity traders at UBS have even enjoyed a doubling of salary to over £250,000, bank sources indicate these were “exceptional cases rather than the rule”. But senior City headhunters confirmed that basic pay rises for senior bank staff were rising sharply, with US banks seeing big hikes.

Bosses of Britain’s biggest companies enjoyed huge increases in the value of their pension pots last year, despite the onset of recession and the downfall of major banks such as Northern Rock, Royal Bank of Scotland and HBOS.

Two directors have already amassed pension funds which will pay them more than £1m a year on retirement. Jeroen van der Veer, chief executive of oil giant Royal Dutch Shell, has accrued a nest egg worth almost £1.2m; Todd Stitzer, boss of theCadbury confectionery group, could pick up almost £1.5m a year, not counting any further sums they accumulate between now and stepping down.


11 Responses to “Oink Oink”

  1. GDAEman Says:

    Are some being paid off to keep their mouths shut?

    • RickB Says:

      I would think so, not that they have some moral whistle-blowing attitude, it’s all business, pay me more or I talk, just a negotiating tactic.

  2. harpymarx Says:

    Talking of the greedy rich….
    Heard the one about when the TUC asked mister McNulty, ‘Please sir we we have a £15 increase for JSA’? McNulty, ‘£15…. they won’t want to get a job’!

    I seriously wish that was a joke but unfortunately that was pretty much McNulty’s response. There you have it…£15… they’ll be living the life of the rich with that princely increase. Obv. McNulty will be able to live on £75 than the £60 he admitted a couple of mths ago that he couldn’t.

    The budget 2009 talks about £16bn asset sales (privatisation) that will also include new council houses being built and flogged off privately!

    • RickB Says:

      It must be great in the DWP with those two wankers in charge, is it a race to see who can be the most Tory ahead of defecting?

      • harpymarx Says:

        Opps … I meant £65.30 as opposed to £60, which would bring it up to £80.30.

        Bloody ‘ell..!! I don’t wanna give ideas to NL ……………

  3. RickB Says:

    Well 80 quid, I quite agree with McNulty now, it’s a King’s ransom! Tea at the Ritz everyday, a ski lodge in Davos and beach house in the Seychelles, plus that pied-à-terre in Manhattan and country retreat in Oxfordshire. No wonder they don’t want to work, they live such a busy life of luxury!!!!!!!!!
    I think the scum the DWP ministers hang out with probably blow 60 quid on wine with their meal.

  4. harpymarx Says:

    Oh, and don’t forget to claim it as second -home expenses…I mean so what it is a country retreat in Oxfordshire..

    And don’t forget to claim the 88pence bath plug. Opps … that’s the other fiddler of the expenses (Jacqui…not mister Smith…I mean!)

    £60… that won’t buy a thimbleful of Cristal champers, comrade!

  5. harpymarx Says:

    Btw: you could buy many bath plugs for £15 for your many many houses.

  6. RickB Says:

    All my bath plugs are hand crafted out of poor peoples bones, £755 each, a bargain if it means just one less poor person steals the air that is rightfully mine.

  7. earwicga Says:

    You’ve gotta be careful there. Poor people on poor diets are more likely to have osteoporosis. Make sure those buggers’ bones don’t end up in your plug hole!

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