THE INDEPENDENT: The Bank of England governor Mervyn King today described the huge banking bailout as "unfair" and appeared to sympathise with calls for multibillion-pound tax evasion to be tackled when he spoke to union activists.
Mr King told the TUC Congress in Manchester that he understood the strength of feeling over the size of bankers' bonuses and said "radical reform" of the UK's financial system was needed.
The 62-year-old faced minor protests from some banner-waving delegates and a walkout by the Rail Maritime and Transport union delegation, who retreated to their exhibition stand to watch children's TV.
He was also told bluntly that bankers were "greedy bullshitters" and that he had failed in his job.
As he waited to speak, delegates called for a high pay commission to investigate the "out of control" wages of executives and other high earners.
The Communication Workers Union said a commission should examine the difference between the highest and lowest pay in leading companies.
General secretary Billy Hayes said: "The blatant double standards in pay for those at the top of companies compared to those at bottom is outrageous and leads to dissatisfaction and a divided society of haves and have-nots." >>> Alan Jones, PA | Wednesday, September 15, 2010
