Do Bankers ever consider the consequences for themselves?
The Observer is reporting that an 81% rise in pay and bonuses for Goldman Sachs staff will be announced next week. Another wave of fury will inevitably envelop the banks. I wonder if the banks ever consider what might happen should there be another financial crisis or another bank collapse in the near future. Which politician or central banker, beset by intense public anger over the banks, could afford to bail them out? I doubt there are many or any. If September 2008, or something similar, happens again while memories of the bonus scandals are still fresh, my guess is the banks may well be left to fend for themselves. The consequences for the banks will be terrible and, unfortunately, for everyone else as well.