Saturday 18 November 2017

Editorial: Bankers' bonus plans beggar belief


It is hardly surprising that some senior bankers are looking for a return of their monster pay days and their beloved bonus culture. They have a sense of entitlement that must appear audacious to ordinary wage earners. Even when they were ruining their shareholders and beggaring the country, senior bankers had an inflated sense of their own worth. The pity is that they got away with it for as long as they did.

Even when AIB was going down the tubes they were flying a plane load of 'customers' to the Ryder Cup and paying bonuses to themselves, while the banks were depending on the taxpayer for a bailout.

Now senior figures in the state-owned bank have made overtures to the Government about setting up an "incentive plan" to retain key executives and changes to the €500,000 salary cap.

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