Related: Less Talk, More Axion
The looters aren't only in AmeriKa....
"Royal Bank's chief may earn $16m" by Jon Menon and Michael J. Moore, Bloomberg News | June 23, 2009
LONDON - The chief executive of Royal Bank of Scotland Group PLC, Stephen Hester, will get as much as $16 million in pay by doubling the share price of Britain’s biggest government-controlled bank....
Hester is selling assets and reducing lending and has cut 11,700 jobs this year in an effort to return the bank to profitability. It posted the biggest loss in British corporate history last year.
Try to think of it as a bonus.
The Unite trade union, which represents some RBS employees, attacked UK Financial Investments Ltd., which manages the government’s stake in RBS, for approving the pay package.
Yup, government signed off on it, too!
Of course, they are looking out for taxpayers, right?
--more--"
At least this guy is giving up something, 'eh?
"Former chief of RBS halving pension" by Associated Press | June 19, 2009
LONDON - Former chief executive Fred Goodwin has agreed to halve his annual pension....
Goodwin will collect $555,470 each year. He had been granted a $974,000 annual pension when he left RBS in October after the government bailout despite leading the bank to pile on debt, causing its near collapse, partial nationalization, and record losses....
Yeah, try to think of it as a reward.
Related: Fish Pension Stinks
Europeans Don't Eat S***!
The WHOLE SYSTEM is just ONE BIG LOOTING OPERATION -- as DESIGNED!!!!
