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action on bank bonuses January 20, 2010

Posted by Bradley in : financial regulation , trackback

John Harris has a better way of showing disapproval of the fact that UK taxpayers are subsidising bank bonuses than Billy Bragg (at least his solution is legal):

If you have money in a bank whose pay structures strike you as iniquitous, put it somewhere else. As an RBS customer about to jump ship, my own choice is the Co-operative Bank, freshly merged with the Britannia Building Society. Their executives are hardly paupers … but their pay policy falls short of arrogant insanity – and as proof of their bona fides as both progressives and prudent operators, they make a lot of their ethical investment policy and proud avoidance of the financial instruments that got most other banks into such a mess.

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