Pay And Bonuses In Us Banks

EDM number 2296 in 2007-08, proposed by Harry Cohen on 20/10/2008.
Categorised under the topics of Financial institutions, North America and Pay.

That this House notes the report in the Guardian newspaper of 18th October 2008 that pay and bonuses to be paid by Wall Street's top banks are set to exceed $70 billion, a substantial proportion being in bonuses; further notes that this is equivalent to 10 per cent. of the US administration bail-out package; and considers that, by their slackness and propensity to succumb to greed, the US authorities are not pulling their weight in the global rescue efforts.

This motion has been signed by a total of 41 MPs.