SIR – I am appalled to read this week that banking and investment giants Morgan Stanley and Goldman Sachs are handing out staggeringly high bonuses this year. How, amid the current financial crisis, can this be justifiable?
The US Government helped bail out Morgan Stanley with a £6.4 billion aid package, yet £2.4 billion is being paid out in bonuses. Goldman Sachs made a reported £1.4 billion loss in its final quarter, but is paying out £4.3 billion in thank-yous to its employees!
I can’t quite fathom out the maths or logic here, but it seems to me that the architects of one of this decade’s worst messes have been rewarded for their excessive gambling habits.
Surely they should be given a hefty rap across the knuckles to discourage their frivolous ways, not be given gratuities and the green light to proceed unabashed.
R Crossland, Park Road, Low Moor, Bradford
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