Why should bankers be rewarded for failure?

GIVEN their spectacular failure, and the present economic climate, how can banks justify giving their employees a pay rise and continuing to dish out bonuses to directors?

If bonuses are supposed to be a reward for success, then directors should be paying negative bonuses from their own pockets and staff should be receiving a pay cut.

Why should the plain people of Ireland have to subsidise failed businessmen, those trying to live beyond their means and fat-cat directors because of the incompetence of banks?

Banks are not even capable of keeping sufficient currency of each denomination in stock, as anyone who has asked for €100 notes would know; the only thing they are good for is thinking up scams to rip us off.

Government bailouts are effectively nationalisation, but without operational control banks will carry on just the same. A purge is needed to sack the culpable people and to bring the banks under state control so they serve the people, not just the directors.

But with the Government bankrupt, where will it find all the money to donate to the banks, unless they print more banknotes? Why, they will borrow it from the banks of course.

Michael Job

Rossnagrena

Glengarriff

Co Cork