The BBC are horrified that Barclays and HSBC have turned in some reasonably decent financials. Robert Peston has returned to haunt our screens again with his unique “insights” on the subject. It’s interesting to note that those Banks which refused State bail-outs are performing well, whereas those which took the Brown danegeld are forecast to announce even more losses. Maybe the lesson we could draw from all of this is that State intervention is counter productive in controlling banking and setting priorities? Then again, the State should have no role in bankrolling the BBC.
I note that one persistent BBC meme on this is that “Big Bonus culture” is an evil that must end. That’s why the comrades at Broadcasting House are enraged that those within Barclay’s that have helped bring in these results might get….gasp….big bonuses! Oh no. The horror, the horror. Why not just come out and just say that capitalism is wrong and that the State should determine what we are paid, for that is what lies at the bottom of all this jealousy.