BONUSES NEED TO BE CUT

Despite the call for cutting Bonuses and too high salaries of CEO years ago you bet it wasn't done even so the economy is almost at rock bottom for years.                                                                              Even now with CV19 deadly virus and eventually PM decided a lockdown which made every business standstill will CEOs have reduced their salaries and forgone bonuses? I doubt it.

Salaries of the CEOs have gone out of control. Nobody's work is worth £3 or £4million a year.
Now the shareholders are trying to stop further ludicrous bonuses added on top of it which increases their income by up to 300 per cent.

HBSC bank had already a revolt when a £70million bonus was announced for the top executive. Let's face it £70million is just the bonus.

The shareholder lobby group are now digging in their heals and stating that fat cats bonuses should be more than halved. Even than it is wrong because the man is getting paid for his work so what excellent extra work does he do for to earn such a high bonus?

When it was announced that Bob Dudley, BP chief executive, would receive a package of £14million and £70million to Sir Martin Sorrell, head of advertising giant WPP. new anger broke lose.
Sharesoc was condemning the lucrative bonus system.

It is high time that people wake up to these fat cats receiving numeration which are out of control. Beside it is doubtful that they would pay the correct taxes to plough some money of it back into the country.

The tax haven islands must be sinking soon so loaded they are with legally but wrong money. If those sky-high salaries and bonuses are stopped prices would come down, people would not have to starve, demand for goods would increase and so would manufacturing. Even factories are slowing down because the demand for goods dropped and laying off workers.

Apart from the Victorian Age there was never such a wide gulf between the public and so called upper class.

The bonus system must have been introduced by the fat cats themselves to give it a name for creaming tens of millions of pounds. Money which is off the back of taxpayers and goes out of the country.

Source Daily Mirror

UK CHIEF EXECUTIVES SALARIES BONUSES UNACCEPTABLE Update 28 Nov., 2016

UPDATE 28 Nov., 2016 --
Government declared, today, that the salaries for CEO are right and they deserve it.  £4 to £7million a year is debatable. Even top surgeons, who do a far harder and responsible job plus had to study for many years, do not even get half as much.

What is completely out of order are the sky high bonuses of 200 pc to 400 pc of their very high salaries. What does the man work extra or achieve more to deserve these outrageous extras bonuses?

After all, at the end the taxpayers have to pay for it who forever get cut down more.

Every leading CEO’s salary is on average £4.6million a year.

The London School of Economic revealed shocking disclosure of Britain‘s chief executives’ salaries plus bonuses. According to the report they are hugely overpaid and it will not ruin the economy if their salaries and bonuses were slashed, on the contrary it would have positive effects. How do they come to that is hard to understand because as far as we know they spend most of their money abroad.

In a study held by the LSE it was discovered Top 10 international recruitment firms who handle 70 to 90 per cent of chief executive appointments were labelled as corporate kingmakers and the salaries and bonuses for the top chief executive is out of all proportion.

The report also high lighted that post could be filled with 100 people each which would work for far less doing the same job just as efficient or some even better.

It has now come to such a state that nobody would dare to suggest a reduced salary and bonus because it would be professional suicide.

A further outrageous extreme was revealed of Ex-boss of Barclays still received a large bonus even so he was sacked last year.

The study authors write: “If one was to offer to do the job for less, would that tip the decision in his or her favour? All the head-hunters agreed is would be a poor strategy.

“Indeed, it might be the asking for a large remuneration would have a positive effect securing the appointment.

“There was almost universal agreement amongst the search firms that levels of remunerations for CEO in large UK non-financial firms were absurdly high.  All the interviews support the no how on an arbitrary norm for pay, which almost all firms felt was grossly and inappropriately high …. The general view of search firms felt it that a lower norm would not materially affect what happens.”

One head-hunter said: “I think there is an awful lot of FTSE 100 CEO who are pretty mediocre.”

Another added: “I think that the wage drift over the past 10 years, or the salary drift, has been inexcusable, incomprehensible, and it is very serious for the social fabric of the country.”

Just two examples: Morrison CEO Dalton Philips nearly doubled his income to £2.1million before he was sacked.  This alone is contradicting.

Tesco’s boss David Lewis received £4.1million which was an increase to almost three times of his predecessor.

Yet these entire chief executive vote for Conservative Party which bring down the workers to lowest wage possible, starvation and job losses.

Max Steuer, reader emeritus at the LSE and author of the new research paper, Headhunter Methods for CEO Selection, published in the Journal of General Management, said there was little evidence that low pay would secure “brain drain”, as suggested.

The public have been aware for years of the outrageous salaries and bonuses which no man is worth it.

It was established three years ago that Britain has the highest numbers of millionaire bankers in the world but the report has done nothing.  Now this new scandal again but will not make any difference.

It all refers back to the Conservative Government which encouraged in the last six years widening the gap between the rich and poor. It is also part of the “Old Boys Network” and to break it it would bring back the economy on a healthier and trade on a competitive footing.

Under the present Government it is unlikely to happen even so Mr Cameron always emphatically claims “We are all in this together”.

Statistic revealed that 1 percent is educated in Eton, Oxford and Cambridge but 70 to 80 per cent hold top CEO, doctors, lawyers, teachers and government positions. Those school and universities are not only there for teaching but also for establishing contacts to the network.

The report from LSE shows again a closed shop or networking with the establishment which tries to white-wash it with “if they do not get paid the highest salary and bonuses they would go to New York”.

Rumours have it that David Cameron was turned down by a number of blue-chipped banks and he applied to Conservative headquarters for a job in research. The interviewer would have turned him down had he not receive an anonymous phone call from Buckingham Palace advising to take him on.

It needs to be proven but it is doubtful it will be done. According to the report there are 100 for each post able to do the same job for far less money, maybe even better. It will not be put to the test because the tight network would collapse and all would lose out including those high-ranking agencies.

NHS BOSSES ON HIGHEST SALARIES

The biggest insult to the dedicated nurses and doctors whose one percent pay rise was refused again.  Is it wonder NHS is in a financial crisis and 50 bosses earning over £500,000?

Will their salaries be cut in the austerity plan of the Tories?!!

MIKE WALKER

:UPDATE:  4 JUNE, 2015 --- Simon Stevens, chief executive of the NHS, will cut down on employing agency staff which cost the NHS £3,3billion over the last three years which should have been done in the first year. 

One question remains. Will he cut down on these high earners who obviously live a life of luxury on salaries of £500,000? The axe should fall there in the first place

Daily Mail Deputy Investigation Editor Paul Butley discovers nearly 50 hospital bosses were on a salary of over £500,000. This is now the biggest scandal this present government managed.  There is no excuse of not knowing because if the Daily Mail can find out then Health Secretary Jeremy Hunt should be aware of it. If he is not than what is he doing there?

Med Director of North Cumbria University Hospital Mike Walker is on the top of the list with £1million in 2013. Most probably even more by now.

TRICIA HART

Tricia Hart, CEO of South Tees Hospital NHS Foundation received a £35,000cccm pay rise

LORRAINE LABERT

Lorraine Lambert, CEO of South Tyne side NHS Trust, withdrew from the NHS pension scheme when her huge pension pot reached the tax free lifetime allowance limit, which was then £1.5million.

They discovered that bosses are receiving £210million a year despite financial crisis.

When the scandal broke all three parties called for an inquiry which seems to pop up at every corner costing taxpayers millions of pounds and so far every one of them proved useless. The ministers and Prime Minister should have done their job in the first place and it would have avoided many inquiries.  It would have saved a lot of money in salaries and inquiries.  That is where austerity starts.

Health Secretary Jeremy Hunt has failed in his job.  Does the Government really make us belief he did not know and if so what was he doing all this time? Is it not his job to find out why the NHS is in such a bad state?  All this time it was the immigrants having treatment on the NHS and disappear or the old people blocking the beds which costing thousands of pounds.    Now we know the real reason and according to the pictures not one of them have lines of stress and live a life of luxury.

A document was leaked that the Tories would axe another 2,000 nurses if they win. Nurses are already working extra hours, unpaid, if there is a shortage and they had their 1 percent pay rise refused by Cameron.

Well, they won again and Jeremy Hunt is again the Health Secretary. How could any one vote for them again after their terrible track record? Now there will be more privatisation of the NHS and more cut backs and those bosses will receive a huge pay rise.

    

There is no word to describe this scandal and surely the Health Secretary Jeremy Hunt and Prime Minister David Cameron knew it. 

Remember the Staffordshire Hospitals where 1,500 patience died of neglect and the CEO demanded to stay on for another year to reach his £2million pay out. David Cameron agreed to it.  Therefore, he must have been aware of other CEO and their sky high salaries. He, too, should have looked into the NHS finances since it was the number one worry of the people.
  

After five years in office he shows a very sad result. As the saying goes “Action speaks louder than words”.

Now with the General Election coming up he “promised” to invest £8million without justifying where it supposed to come from. He must see the electoral as complete fools.  Voters had too many unfulfilled promised and must have gone wise by now.

According to DR Rose Altmann, country’s foremost pension expert, NHS bosses are able to sign off their own pay rises and take advantage of loopholes in the exceptionally generous NHS pension scheme.

GOLDMAN SACHS WILL PAY £8BILLION BONUS

In my opinion: They are not the only ones who receive such enormous bonuses. It is scandalous because especially at a time of great starvation these people pocket not only the highest salaries ever but also hundred of thousands of pounds if not millions of pounds bonuses. Yet mastermind PM David Cameron does nothing about it but planning further cuts for councils and public.

GOLDMAN SACHS BUILDING 
IN FLEET STREET,  
LONDON,  ENGLAND

This is a scandalous report beyond any comparison.  Their New York Head Quarter confirmed that the company was able to keep aside a £8,35billion which is 37 per cent of  £22.8billion turnover. Golman Sachs is the richest Tory MP in the UK.

This success is also from the Royal Mail sale. Goldman Sachs’ advisers convinced ministers to sell the Royal Mail in 2013 at such a low rate that the taxpayers lost £1billion. The shares, of course, jumped up after the sale their clients through another branch of Goldman Sachs and made £12million by buying and selling shares.  How much did the Prime Minister David Cameron and his friends gain?  He ought to be ashamed to have sold a peace of his country.

Furthermore, the Chancellor George Osborne spent £53,000 on a court case at the EU Court of Justice to fight a cap on the bankers’ bonus. He lost it but it showed his attitude.

Records reveal that in 2013 the top executives of banks received a payout of £3million.  It is the same financiers who brought down the crash in 2009 and their banks had to be bail-out with taxpayers’ money but this is apparently all forgotten but the taxpayers are still carries the burden.  By right any profit should have been paid back to the taxpayers.

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According to the statistics the average worker has its income lowered by £2,500 since 2010. During the same time the City bankers’ salaries increased beyond any recognition plus sky high bonuses.  The government used the crash and bail-out as an excuse to cut public service and cap the workers’ wages.  George Osborne announced that the pain had been worth it. What does he know about it? Yes, not for the Elite while the average family have to rely on food banks and can not heat their homes properly.  George Osborne has even the audacity to announce further and bigger cuts if they win the election.  God forbid.  They screwed the public deep enough into the ground while they filled the pockets beyond belief.

Within two years the Tory-led Government and the LibDem which did not exactly vote against many proposals from the Tories; they created 4000 multi-millionaires and multi-billionaires and £19trillion was syphoned off to tax haven.  PM David Cameron held big speeches, from time to time, about getting the tax avoiders but so far nothing. Cameron, of course, will not do anything about it because Goldman Sachs is one of his biggest donors.  Yet, at the same time nurses having to fight for a miserly one per cent pay rise which was agreed but Cameron will not agree to it.

David Cameron also announced and warned that there is another Global crash on the way which, most probably, been orchestrated again by the same bankers and financiers. The last time Cameron used to blame the Labour Party which of course was not their fault but global wide and he must have known that it was his top financier friends who purposely caused it. Now, since he is already aware of it why does he not do anything about it to safeguard Britain?  Surely he can and could stop the tidal wave to swamp over Britain. Now let’s see how he stands on the shores and commands the waves to turn back.

Even the cap of 100 per cent bonus of his salary is not justifiable.  How can a man’s work be worth a £2 or £3million salary from a start and then on top of it another £2 or £3million bonus? Surely no man’s work is worth that much.  Therefore the bonus schemes should be stopped.  A salary of £2 or $3million is more than well paid. Surprising the EU Court of Justice did not stop it altogether. 

ENDLESS GREED OF UK MINISTERS -- Updated: 20 June, 2015

HOUSE OF PARLIAMENT 

UPDATED: 20 June, 2015 --
The latest news: MPs stand for a further pay rise of 10 per cent. Yet, the Prime Minister David Cameron turned down the 1 per cent pay rise for nurses.

Ian Duncan Smith, head of the Dept of Work and Pensions will cut Welfare by £12billlion.

UPDATE: 8 September, 2014 -- A year on it had been agreed that the MPs should get 9 per cent increase. Yet, it is the MPs who vote for freezing the wages, cutting benefits, budgets of councils and NHS but when it is about their pocket not a vote against their own salary increase. There goes another promise of PM David Cameron to reduce the cost of the Parliament. Has he ever fulfilled one of his promises?

It is barely a month ago when the Ministers of Parliament (MPs) insisted on a £7,500 pay rise to their more than adequate yearly salaries of £65,000 plus their various form of expenses. Expenses for which ordinary people have to pay out of their wages.

Now they demand a £20,000 expense perk.  This means a flat rate, tax-free allowances for food and second home costs.  Furthermore, they want the payment without any receipts or filling out an expense form.  They must be living on another plant to demand a £20,000 expense allowance, tax-free and no receipts to prove it. This sneaky, not so clever idea came about because a number were caught out putting down expenses which had nothing to do with their work and were heavily fined or even imprisoned.  Do they know that £20,000 is a high wage these days for ordinary people, in spite of having to pay quite a large sum of National Insurance and Tax?

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The rise of salaries were agreed to compensate for the loss of expenses. Therefore, it shows their full audacity and attitude at a time of austerity supposed on ordinary people and living now in great poverty, to demand now after it was all set and done a £20,000 flat-rate for expenses.

Aren’t we all pleased to read the Speaker of the House of Commons John Bercow suggested the change over from the present expense system to a single allowance?  He also forwarded a letter to the Independent Parliamentary Standards Authority who regulates the MPs’ pay.  Mr Bercow pointed out further that 17 out of 20 do not claim expenses purely to avoid the hassle of filling in forms and provide receipts.  Unbelievable!

Matthews Sinclair, of the TaxPayers’ Alliance, said: “It would be completely unacceptable for MPs to enjoy a tax-free allowance with no scrutiny whether the money is spent on legitimate expenses and not transparency over if it amounts to anything more than a top-up for their already substantial pay.”

He points out further that it would undermine Parliament while there is a freeze on public wages.  Many taxpayers would see it as a stitch-up.

Wouldn’t it be a shock for the MPs having to pay for their own ‘sandwiches’ and the Lords who get £300 a day when they are sitting. In spite of it all the taxpayers have to pay for their ‘lunches’ which amounts to a staggering £65,000 per week. We can reveal it is not beans of toast or fish fingers and there after all over 750 Lords.  On all these extra costs not a word of cutting back and about austerity.  There again a Lord who is a multi-millionaire anyway and still receives a £300 a day surely could and should pay for his own lunch. If it would be implemented it would rock the foundation of the House of Parliament more than Guy Fawkes could have ever achieved.

Although the proposed pay rise of £7,500 agreed on but it would only come into effect after the 2015 election.  All three party leaders have rejected it which is most surprisingly.

It wouldn’t be a surprise if they get it granted after all. So far we have never seen a proposal of that kind turned down.

At the moment the Government is ruling beyond any belief.

UK CHANCELLOR BORROWING RISES - 8 Sept., 2014

UPDATE:  8 September,2014 --  The debt rose from £1trillion in 2010 to £1,5trillion in 2013 but the Tory-led Government still blaming Labour. Yes, Labour borrowed but do not forget they had to bail out the banks which are nothing but a shamble ever since the famous Margaret Thatcher de-regulated the banking system. Before the British banks has a standard and were highly respected in the world. As for the austerity it costs the country £240billion according to the financial experts.

A RECORD NOTHING TO BE PROUD OF


While Chancellor Osborne keeps cutting and preaching austerity the unemployment rises and so does his borrowing.  It is the same old story which he should know that when you cut back on jobs people get unemployed and can’t spend any or no money.  Goods won’t get sold, apart from the very necessary and manufacturers get less order. They lay off people which add to unemployment and so the vicious circle continuous.

The government spent £17.5billions which is an increase of £1.2billion compared from the year before although experts predicted a fall of borrowing.

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There was a revision of the estimated figure of growth between July and September, 2013 from 1 per cent to 0.9 per cent. This sudden growth was only due to the Olympics, Paralympics and the Queen’s Diamond Jubilee Celebration. Even then in spite of being in great debts the government did not request the tax from the profits of the Olympics. No the government and Chancellor turned on the poorest of already struggling families and introduced the spare bedroom tax.

They cut the disability benefits. Child care, pensioners to recuperate their losses.  Yet they found money to give themselves a £25,000 rise.  Not tackling the tax avoiders and yet they had the nerve to state that middle-class working people are fed up of financing scroungers like unemployed and claimants of benefits.

That is the second time it happened.

This arrogance and out of touch is incredible coming from a government who should be all for their people. They forgot that it is the ‘scroungers’ who voted them in.  Now Chancellor Osborne plans to cap the benefits till 2015/6 as if the people are not already pushed to the limit. The very fact that there are 280 food banks across the country tells you the hardship.  Nobody would go there if they were not desperate.  Some walk for miles by wind and weather because they have not got the pass fare. Does all that not count any more to get the message through that people are already past their limit?

AGAIN BANK BONUSES PAID OUT

The root of the problem lies with Margaret Thatcher having de-regulated the banks. Ever since there has been nothing but financial chaos.  The public has been up in arms about these undeserved, massive bonuses and David Cameron had been promising time and time again to put a stop to it but nothing ever happened.

This time the bonuses were even paid out at the Bank of England. The staff receives a £25million over five years.  This had been in spite of not foreseeing the credit crunch and the Chancellor George Osborne manage a double-dip recession and will have another on in September.

The statement released by the Bank showed executives having received up to £30,000 a year performance related pay added to their salaries.  This is utterly undeservedly since they did not take measures to forestall the credit crunch and the recession.  Yet they get a performance-related pay. In the commercial world they would have got a dismissal and that would have the right bonus.

Furthermore, the figures showed that in just last year their bonus increased by 4 per cent to £4.9million but the country’s economy is in a recession. 

Sir Mervyn King and his team couldn’t even see the financial crisis and had to revise the economy forecast 12 times over the past year.  For all that failure they receive a performance- related pay. Has there ever been such a financial mismanagement in any government?

But wait a minute because here is the famous wipe the slate clean. A spokeswoman said: “Staff on a two year pay freeze which began in 2011. Bonus payment is based on individual performance. The pot has been frozen at six per cent of the total salary bill for the last three years.”

An utter non-sense in every word. If they didn’t see the financial crisis coming and didn’t forestall it why did they get a bonus at all? Furthermore they get paid a salary for the work they do and they just do the work they are there for. So, why a bonus? They don’t do any extra work and by the looks of the result they didn’t even do that.

Yet, David Cameron the great knight in shining armour would not dare to stop it. It is still sticking together and you scratch my back and I scratch yours. It always was going on but nowadays it has gone out of control and the country is going down rapidly.

NHS TRUST BROKE -- Update: 14 June, 2015

UPDATE: 14 June, 2015 --  
At the General Election campaign David Cameron promised to put in £8billions. 

The newly elected Prime Minister and his Tory Party have not shown any sign or effort to keep his promise even so the NHS is on the verge of collapse. 

Only the very dedicated nurses and doctors keep it going. They admit that they work extra unpaid hours. Would the Prime Minister or his MPs do this? No they claim extra expenses and big sums. 

Since the investment of £8billion is of great urgency it would be expected to be his priority. Instead, the first thing was to put an anti-strike law, fracking and without the people consent, snooping laws through as fast as posible and itching to sign the TTIP which includes the NHS and would bring £800trillion alone never mind if the people can not afford private insurance.

That is the real face of the David Cameron and his Tories who conned the people into voting for him spreading smears and lies about the Labour Party which would have brought back the NHS to its former glory.

The conditions of the cash strapped NHS is getting very suspicious. There is always billions available when a bank is in trouble. Billions available for the Afghanistan, Iraq and Libya’s wars. Billions available for the IMF to bail out Greece, Ireland, Italy, Spain and Portugal. There are never any squabbles about not any money available, recession and austerity but comes to the NHS the doors close instantly.

There is now a new report about the critical conditions of the cash-strapped health service and had to be put into administration.

Health Secretary Andrew Lansley stated that South London Healthcare NHS Trust was losing a £1million a week and was taken into the Department of Health. This Trust includes Queen Mary’s Hospital in Sidcup, Kent, the Queen Elizabeth Hospital in Woolwich and Princess Royal University Hospital in Bromley.

There are some points to be disputed. One is the promise at the general election that the NHS is safe with us, meaning Conservative Party. Second, there was a report out the other day that over a £1Billion should be paid into the NHS and it is withheld.  Third, to sack doctors and nurses and then hiring Agency staff is financial suicide. Agencies charge twice as much. Surely Mr Lansley is aware of that if not he should be. Another point and this is the main point what happen to the huge sums of money paid to the National Insurance? People paid National Insurance all their lives and they deserve a National Health Service.

A suspicious mind thinks that this is all done on purpose. In order to break the NHS back and to move it along to be privatise. It is so obvious that the government is bent over backward to see it through.

Last year Chancellor George Osborne allowed £70billion to be poured into the banks under the ‘Merlin’ scheme. It didn’t work because the banks were reluctant to lend money and the consumers and companies to take on more debts. Nobody knows where that money went. No account given. Mostly properly it was used to pay these incredible salaries and bonuses.

Now again the Bank of England issued another £80billion to encourage consumers and companies to take a loan and to improve the economy. It is a good idea but if the order books are half empty hardly any company would saddle themselves with further debts. As for the consumers they hardly can pay their present way. So most properly it goes the same way.

These are huge sums all spend wrongly. The Prime Minister David Cameron will not intervene in spite of having one scandal after another. The public is pressuring to make Mr Cameron to stop these bonuses, sky-high wages, wasting money on wars which have nothing to do with Britain and bail-outs for countries in the EU.  Yet, no matter how much the demand is the Prime Minister sits back and does nothing.

All these sums should be spend on Britain and the NHS.

Apparently there are 22 more hospital earmarked for putting into administration. The administrator being sent from Mr Lansley could and would find out all the ins and outs of the hospital which makes it easier to be privatised. After all the Government is determined to privatise the NHS and of course Mr Lansley will do his best.

If privatised if will be like in America that the insurance are sky-high and many people can’t afford it. Mentioning Insurance something just crossed my mind that it would increase the insurance income tremendously and with the Fat Cats having share in every thing and every way they would be getting another load. Is that the root of the government determination to privatise?

BOB DIAMOND BARCLAYS EX CHIEF EXECUTIVE - Update 4 March, 2015

UPDATE: 4 March, 2015 -- Looking back at the scandalous period the result of Bob Diamond's severance money is beyond any description.  Bob Diamond part of the Libor scandal which caused 12,000 savers losing their money; costing the taxpayers £500million is being beyond any belief what happened in the banking system. Not one of the top executives were prosecuted. Thousands of bank clerks lost their jobs because banks, involved in the Libor scandal, cut back to pay their fines. 

Bob Diamond even refused to give up his £2million salaries and was allowed to resign, not to be sacked as any ordinary person causing fraud would have been. Today it is said that he received at least £20million severance money with his salary, bonuses and shares.  He soon set up an investment bank in South Africa and all these years earned high profits on buying and selling in South Africa, Nigeria and Botswana. He is now worth an estimated £105million and is back in the City of London.

Bob Diamond's life and career as far as we know it. Ever since the banks’ executives are getting sky high bonuses on top of their salaries which increase by 40 per in the last two years, Bob Diamond has been in and out of newspapers’ headlines.

Bob Diamond is the Chief Executive of Barclays Bank. Barclays bank and so far three others had been found out that they were monopolizing the interest rates. It is called Libor and it occurs when one bank lends to another and keeps the interest rates high.

Mr Diamond, 60, was one of nine children born in Concord, Massachusetts, USA. His parents were school teachers.

He also started as a lecturer at a university but changed over to investment banking at Morgan Stanley as a bond trader in 1979. Later he joined Credit Suisse First Boston.

Mr Diamond joined Barclays in 1996 as the head of investments banking division, Barclays Capital.

Now comes the interesting point that he narrowly missed in 2004 to be Barclays Chief Executive but at the start of last year he managed to be Chief Executive. Since it was at the beginning of last year it makes you wonder whether there was not more behind than meet the eye.

He is married and has three children. He love playing golf and is a great supporter of Chelsea. He often watches the team from the best suite at Stamford Bridge. Well that again is an eye opener that he would be such a great supporter of Chelsea. It is also said that he flies many time to the USA to watch his beloved Boston Red Sox baseball team.

Furthermore, Mr Diamond sits on board of the Old Vic Production and is a trustee of the Mayor’s fund for London.

Earlier on it was stated that if he was forced out of Barclays he would stand to receive a £20million severance package. After all they done to banking which in any other industry would be criminal that shouldn’t be paid.  But knowing how they stick together he will receive it. It also had been revealed that Mr Diamond made around £100million out of banking.

It is people like that who had a free hand because Margaret Thatcher de-regulated the banking system. There never was a credit crunch as such. They hoodwink the public with that and all the time there were millions and billions of bonuses being paid out while the public was pressured more and more.

The quicker they get back to the old banking system the better. PM David Cameron already starts to build a wall to protect them. At a summit in Brussels he stated that doesn't need to be told what to do he knows what to do. This will only lengthen the suffering but eventually it will have to be done.