Now that Labour have bullied Stephen Hester into not taking his bonus, despite the fact that he earned it, it is only fair to compare his role and pay to that of Labour politicians.
Tony Blair took a job with JP Morgan as a part time adviser. More recently Tony Blair set up his own financial services company in Mayfair
Peter Mandelson joined investment bank Lazard as a senior adviser.
There is no public information about how much Mandelson is paid, but we do know how much Tony Blair earns. Lets compare Stephen Hester with Tony Blair.
Stephen Hester is full time CEO at RBS.
Tony Blair is (was?) a part time adviser at JP Morgan (he spends the rest of the week bringing peace in the middle east).
Stephen Hester runs a major public company.
Tony Blair spends a few days a week consulting.
Stephen Hester is responsible for 148,500 jobs, mostly in the UK.
Tony Blair employs 26 people.
Stephen Hester is responsible for generating £billions in profit for the UK taxpayer owned bank.
Tony Blair is responsible for using the connections that he made as British Prime Minister to setup meeting with the rich and powerful to bring in $billions of work for the US investment bank.
Stephen Hester gets £1.2 million/year from RBS (and no bonus thanks to Labour).
Tony Blair gets £2.5 million/year from JP Morgan (plus around £10 million more from his other jobs).
RBS paid over a £billion in corporation tax profits in the many £billions.
Tony Blair paid £315,000 in tax on an income of £12 million.
Who is the real fat cat?
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