Director of the Adam Smith Institute, Dr Eamonn Butler, wrote an op-ed for the Times: "Politicians should butt out of bonuses"
“Barclays argues that we should stop moaning about bonuses, and it’s right. To most, bank bonuses of more than £1 million or 200 per cent of basic pay seem truly astonishing.
“Especially when banks are losing money. You can see why they blame the financial crash on such “greed”.
“Politicians happily fan this bonus envy because its is one of the things that diverts attention from their own hand in the crisis – their years of inflating a cheap-credit, loose-money, over-spending, over-borrowing bubble that inevitably had to burst…”