In February 2009, the Leader of Her Majesty’s Opposition, David William Donald Cameron flexed his muscles to the British people. Gordon Brown’s Government were weak, said Cameron, and he told The Guardian:
Cameron said today that bankers “needed to wake up and smell the coffee” as he urged ministers to tear up existing bank executive contracts at semi-nationalised banks to prevent them receiving any bonuses this year.
[Cameron argued] …that the government, as majority shareholder in some of the banks, could simply force the issue. Cameron said “it is infuriating to listen to all this stuff about ‘existing contracts must be kept to’.
In fact, only last week ‘Determined’ Dave in the Mail…
…vowed to block a £1million bonus for the boss of a failed bank rescued by the taxpayer yesterday. The Prime Minister’s war on excessive executive pay comes as critics said Royal Bank of Scotland boss Stephen Hester should not receive ‘a penny in bonus’.
Speaking this afternoon Cameron’s Chancellor, Gideon Oliver Osborne, told the Davos Summit:
…that RBS bonuses were not set by the Government.
Speaking to broadcasters at the Davos World Economic Forum in Switzerland, Mr Osborne said: “They were determined by the board of RBS under arrangements set up by the previous government.”
Yes, but surely, Gideon, you can just tear those contracts up? It is so infuriating having to listen to all this stuff about ‘existing contracts must be kept to’ don’t you know?
So, Councillor, supposing (back in the day) I had sold you one of my old ‘bits of shrapnel’ with a 12 month/12k miles guarantee and you had returned after a few months with a complaint and I had simply torn up the guarantee contract in front of you, that would have been alright with you, would it?
Duffers, Duffers old chap, you appear to be confusing me with someone else. Was it me who was suggesting contracts could simply be torn up? Now, put on your granny specs and go take another look.
So why, if you are content that legal contracts should be complied with, are you even raising the subject?
Simple really. I was pointing out the hypocrisy of our Prime Minister in criticising Gordon Brown for not tearing up the contracts… and then doing the same thing himself.
I would have thought that most people reading it could work that out for themselves, but I suppose for you I have to spell it out for you.
Incidentally, in the latest RBS fiasco, it was NOT a contractual payment, it was discretionary.
And who allowed the “discretionary” clause to be entered in the first place?
And anyway, the point is that Cameron has not torn up the contract.
No, you dozy old fool. The point was that he said he would!!!
This is another reason to add to my list of why I think Cameron is not a good PM. He is there as PM for the glory not as someone who wants the job for the better.
Cameron is weak even weaker than Major.