Not for everyone, at least. Especially not the people who created the problem. This is exactly what I've been saying for months. We bail out this bunch and then regular people - taxpayers - fund their goddamn lifestyle. Your retirement plan drops 20% or more? Tough luck for you. Their deliverables drop 20% and they have to re-think buying their new Ferrari for a month. Most people can accept that we had little choice but to keep the few remaining mega-banks rolling (thanks to bad policy changes in recent decades) but this is sickening. They cut a lot of people but the remaining bankers still are rolling in cash as if nothing ever happened despite hideous results. (As a side note, in the UK saying "City" is like saying "Wall Street" in the US.)
City workers have been awarded £13.2bn [$26.4bn] in bonuses so far this year, suggesting that the credit crunch has yet to be felt in the pockets of most bankers.
The figure is down a modest 1% on the same stage a year ago, when a little over £13.3bn in bonuses had been paid out. The bonus season begins in December, with the full picture only emerging when data for April is released.
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