The Labour Party are being quite outspoken regarding the award of a bonus to Stephen Hester the CEO of the RBS. It is true that for somebody who is effectively a civil servant, his remuneration is quite high, but Mr Hester has the job of turning a joke back in to a viable bank which the government can then sell in order to get taxpayers their money back, so really you want the best person for the job.
The really annoying thing for me though is that Mr Hester is getting a bonus because it is written in to his contract of employment. A contract which was given to him by the Government. Outrageous Labour may say. No wonder Mr Miliband is so angry. Mr Hester was appointed on 21st November 2008. The Government of the day could, and maybe should have stopped the award of a bonus. So, Mr Miliband: You were a Secretary of State at the time. Why didn’t you intervene?