Bankers’ pay - Thumbing their noses at taxpayers

WILL the banks ever learn?

Having contributed massively to the collapse of Ireland’s fiscal system, it emerges that five banks last year paid board directors way above the level recommended by a Government-appointed committee.

As today’s front-page report shows, 37 out of 44 non-executive members on the boards of banks protected under the €440 billion guarantee scheme, received far in excess of the payments recommended by the Covered Institutions Oversight Committee (CIROC) set up by Government to assess pay levels in the banks concerned.