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Goldman Sachs ignores government pleas regarding bonuses

Goldman Sachs has this week fired up the controversy regarding bonuses for the UK financial sector with the revelation that 80 the company's most senior London bankers will receive millions of pounds worth of free shares. The company is suggesting these bonuses need to be made to ensure that the cream of the mergers and takeovers market remain with the company at this difficult juncture for the UK economy and the worldwide economy.

There is no doubt that headlines in the financial press, and the popular press, will yet again focus on these major bonus payments at a time when many companies and individuals in the UK are struggling more than ever. We heard earlier this week that £6.2 billion of mortgage liabilities has been repaid by UK consumers who are concerned about the short to medium-term outlook for the UK economy and the UK employment market. So while the general public and general businesses in the UK continue to suffer it seems that some bankers are now enjoying the "good old days".

The revelation of these large bonuses will do nothing to improve the lack of appreciation and trust between UK consumers, UK businesses and the banking sector.

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