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Fat Cat pay in the City to be curbed

In what seems like a joint effort by the UK and US authorities it seems as though the so called Fat Cat pay model in the City could well be on the way out. While there is very little they can do from a legal standpoint the authorities have chosen to work from within by taking stakes in some of the weaker UK banks and introducing new salary caps as part of the deal.

It is very much a case of where the UK lead the US follows at the moment but in the UK it has been noted that Barclays Bank has not stepped forward for extra funding. Many are suggesting they want to protect their Barclays Capital division which has been put forward as one of the main reason for the current crackdown on City practices.

However, on the subject of Fat Cat pay schemes, have we heard any more from the clean up at Parliament? Is Peter Mandelson going to give up his £1 million tax payer funded golden goodbye, even though he left his EU job of his own accord?

Which other employment arena would pay for your second home? Talk about people in glass houses......

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