It's placate the plebs time for the posh-boys' government. First Stephen Hester was pressurised into foregoing his bonus of a little under a million pounds, and then Fred Goodwin was stripped of his knighthood. So all we ordinary folk can rest assured that although our nominal incomes may be frozen and our real incomes are shrinking we are all in it together. The Establishment is dealing firmly with the greedy or the dishonourable. Jeffrey Archer is no doubt penning a speech to the Lords celebrating the fact.
Hester now has to scrape by on his basic salary of £1.2 million. Thank heavens, as the This is Money website points out, Fred still has his taxpayer-funded pension of £342,500 a year to help him cope with his humiliation.
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