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Richard Boyd Barrett TD: Bankers bonus payments a disgrace!

swp.ie

In a statement Richard Boyd Barrett TD criticised attempts by AIB to change cap on executive pay.

The People Before Profit TD said the idea that executives in AIB, a bank that got a bail-out of €21 billion, with an existing pay cap of half a million and executives on six figure salaries are now looking for more money is shocking.

Richard Boyd Barrett said,

“Ordinary citizens paid for this institution in a bail-out that has beggared the country so it is utterly shocking that this bank would look now for more money from the state for executives that are already on enormous salaries.

It is even more shocking that now that AIB is moving back to profitability it is going to be sold off to private investors. This means that even though ordinary citizens have born all of the costs with no benefit, the benefits now that the bank is moving to profitability will go to private investors.

It is unacceptable that after the entire crisis that AIB would not be kept in public ownership so it can be subject to on-going regulation to ensure transparency.

It is an utter scandal that these banks would be let off the leash again out of public control after the damage and economic mayhem they have caused. We should be able to dictate their policies and general treatment of customers and oversee their central positio0n in the overall welfare of the economy”.

For info/comment: Richard Boyd Barrett 086 7814520

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