How tremendously amusing, the Chancellor Alistair Darling has attacked city bonuses that reward failure saying, "[b]oards need to ask themselves, 'Are we behaving reasonably?'… If you're leaning over the fence talking to your next-door neighbour, can you justify what you've done?"
Isn't it deliciously rich to hear a politician complaining about rewarding failure in the city when, under the terms of the Ministerial and Other Pensions and Salaries Act 1991, any minister that leaves office, for whatever reason, gets thrown a severance package of one quarter of their salaries on their last day in office?
Charles Clarke? David Blunkett? Stephen Byers? Peter Mandelson? Peter Hain? How many complete failures in office have there been in the last ten years who have received a fat wad of cash when they've had to resign in disgrace and left a complete mess in their wake?
Don't get me wrong, some of the rewarding failure in the city is bloody absurd. However politicians should get their own house in order before they start pontificating about how the private sector is acting unreasonably.