HUNT BALLS: Osborne helps Hunt support the elderly by rewarding 2700 failed bankers with €2.7 billion


From today’s FT:

Pay for top UK bankers up by a third

Last year 2,714 earned more than €1m

From the FT dated September 25th 2013:

‘Britain is taking legal action against an EU cap on bankers’ bonuses in an attempt to strike down the measure on the grounds that it hurts financial stability. George Osborne, the UK chancellor, filed the case at the European Court of Justice last week – in a step to protect pay freedom that most banks thought would be too politically unpalatable for the Treasury . His move came after breakthroughs this month for the UK in Brussels, including significant headway in a court case to clip the powers of an EU market watchdog on short selling. The suit is the fourth launched by Mr Osborne on an EU financial services issue in the past two years. The Treasury said the bonus cap threatened moves to increase financial stability.’

So: just under 3000 bankers earned €3 billion, but every one of our banks is either being bailed out by us, or wobbly going forward. Rewarding failure?

On a similar scale of outlay, imagine what Jeremy Hunt would say if the same applied to NHS consultants or bureaucrats. No need to imagine, because here’s a snippet of what our fine Damn with Faint Praise Sleazebag of a Health Secretary wrote in a Maily Telegraph column two days ago about dementia:

‘…already we are making good progress, with four times as many patients going to memory clinics as in 2010-11. But we must go further – everyone who goes to their GP with symptoms of dementia must be assessed and diagnosed in a timely manner. More fundamentally, we want people who have worked and saved all their lives to know society will pull together to help them in their time of need, so we are working to change attitudes at the grassroots….’

Well Jezzer, you unpleasant little hypocrite, let me just make three points here if I may:

1. Sending four times as many people to Memory Clinics is about as much use as sending ten times more terminal cancer patients to a health spa. Anyone with experience of taking a relative to such clinics will tell you that the verdict is always the same: either (a) you’re perfectly OK or (b) you’ve got tertiary dementia and there’s nothing we can do.

2. Have you ever visited (without advance warning) a State home for those suffering from dementia? They offer about as much dignity as Soviet Gulags offered to Solzhenytsin. How can your bleeding-heart “concern” about dementia be taken seriously when the Government is offering zero investment in elderly care homes? And a small supplementary here: when’s the last time you checked out the cost of private dementia care homes? 

3. I note your promise, “we want people who have worked and saved all their lives to know society will pull together to help them in their time of need”. What, you mean like Zirp decimated their investment income, QE trampled on their pension fund growth, Libor fraud cheated them out of interest, and deliberate depression of the gold price cordoned off a safe haven for them?

The Hunt Balls continues. As indeed, does the habit of voting Conservative. As indeed does voting Labour on the crazy assumption that they might stand up to the Forces of Darkness….as of course they did over the Hedge Funding of the Cooperative Bank.

Earlier at The Slog: Eurozone Chickens come home to roost, but get eaten by Berlin suburban foxes