Tuesday 17 January 2017

Follow American example for banks

Published 10/12/2010 | 05:00

AIB, one of the main causes of our country's bankruptcy, is paying its staff bonuses -- for stellar performance in 2008, no doubt!

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Since the Government seems to say that it can't break the agreements, we should look at Plan B.

It's time we took a leaf from the American book and consider what happened when AIG had to be saved from bankruptcy by their version of NAMA, that Troubled Asset Recovery Programme (TARP). A well discussed solution to this was to pay the bonuses, but tax them, and any bonuses of a TARP-bailed-out institution, at up to 100pc.

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