Politically, however, the problem is that Mr. Hester is working for a (largely) state-owned company at a time when other public sector employees are suffering a wage freeze, benefits are being cut and so on. It is very difficult to argue that “we are all in the same boat” if one state employee is being handed a luxury yacht. Doubtless, there are many teachers, doctors and nurses who are doing a fantastic job but they won’t get a bonus either.
— Buttonwood’s Notebook: “How Can You Judge a Bank CEO?”
