Disgraced fatcat bankers to pocket record £4bn in bonuses despite bringing economy to its knees

By Rupert Steiner and Kirsty Walker
www.dailymail.co.uk

Bankers are set to pocket a record £4billion in bonuses, less than a year after bringing the economy to the brink of meltdown.

Thousands of City executives are looking forward to mammoth payouts as UK banks report surprise profits this week.

It will be a major embarrassment to Chancellor Alistair Darling and City Minister Lord Myners, who had promised to slam the brakes on corporate excess.

The news will also enrage millions of credit-starved businesses and families after taxpayers were forced to pick up a £37billion bill to bail out the banks.

Research from the respected think-tank the Centre for Economic and Business Research predicts there will be £4billion of bonus payouts this year, up from £3.3billion last year.

MPs from across the political spectrum condemned the ‘gut- churning’ scale of the bonuses. They warned that, while bankers are lining their pockets, ordinary families will suffer for decades from soaring taxes and cuts to public services as governments grapple with the ballooning national debt. Read full article…

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