Friday, October 10, 2008

Money Matters (Part II)

Just a very quick thought.

Having heard that only days after receiving outrageously large sums of public money to rescue their ailing company, AIG insurance executives were enjoying a few days intensive relaxing in a very expensive resort on company (now tax payers') expenses, I got to wondering about another couple of things...The tax payer (that's you and me, folks) is now going to be bailing out the financial houses of this country. Do we have any guarantees that our money isn't going to be used to pay out huge bonuses to greedy prats? I don't recall hearing any bank's CEO saying he would be to forgoing any of his huge salary or benefits (some of them have pension pots in the billions) as a result of needing to be rescued by us ordinary Joes.

Secondly, and equally importantly, if the government can find billions so easily to prop up failed businesses, can we look forward to an agreement that public sector pay should get a decent fillip in the next pay round? The public sector has received derisory pay awards in recent years and all that time the stingy bastards have been sitting on umpteen spare billions which they're happy to use to help pay stupidly high amounts to people at the very top end of the wealth ladder. Is that really fair?

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