Saturday, 28 February 2009

The 'Li-on' Bank Bonuses To Enter The Daniels Den

From the Telegraph today comes a twist on the 'Goodwin Pension Fiasco' in that the CEO of Lloyds Bank, Eric Daniels, is in line for 'take home' pay that could reach £10million.

The report notes that "Lloyds claimed last night that the Treasury had been consulted over the deal" and that a spokesman for UK Financial Investments (UKFI), part of the Treasury who oversee the Government's involvement with banks, confirmed that it had received details of Lloyds' executive pay deals.

What 'consultations' took place and when were 'details received'? Was a 'Myners' strike' involved in the process and if so to what extent did he sink his 'shaft'? It does seem that this entire question of government/banks/bankers has reached the 'pits' and that there is a bit more than a 'pony' involved.

We will await further revelations with bated breath!

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