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!
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.