Irish government bank bailout conditions
Monday, 09 February 2009 09:44

In this column we're frequently pointing out the incompetence of Labour and Gordon Brown and his chancellor in particular. Today we find another excellent example.

In the UK billions of pounds are being thrown to the banks with almost no conditions attached. Gordon the clown and his darling Alistair don't seem to be able to negotiate, just give in and throw good money after bad. So it is with the banks.

Compare that with Ireland.

Many people are not too charitable when it comes to discussing Ireland. However, in one thing the Irish government has hit the nail on the head. The Irish bank bailout is conditional of bankers taking salary cuts, in the case of the top man at Bank of Ireland that means a salary CUT of 1.5 million euros a year.

That's the kind of thing that should be happening in the UK. Why isn't it?

The answer is simple, Gordon and Alistair and cronies didn't think. They just acted instinctively, a knee-jerk reaction with no thought, just wheelbarrow loads of public money.

Today we hear that the Royal Bank of Scotland is going to pay managers a billion pounds in bonuses. Well done Gordon, that's another billion of public money squandered.

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