In a sign of the spread of the bonus culture in banking, it has been announced that the people who check the work of the regulator who checks on City bonuses is also getting a bonus!
"Nobody is prepared just to do a job for a basic wage these days" said Sir Simon Simple, chairman of the commitee who oversee other regulatory commitees. "We have to 'Do a Fred', as we call it, to get the very best people to work here. It isn't enough just to give someone a very large wage."
When we pointed out that half the employees were members of Sir Simon's own family, he put the phone down.