Top Lloyds Bankers Beg fo More Pay

Present or past shareholders in Lloyds Bank who have watched their investment destroyed over the recent past will be astounded to read this report in today's Guardian, some tasters:

Lloyds Banking Group has sounded out shareholders about a change in its executive remuneration plans that could generate pay rises for its directors despite being bailed out by the taxpayer.

The bank, in which the government holds a 44% stake, is understood to have approached big City investors between a month and six weeks ago with outline proposals for a modified pay package for the executive team of the bank ......

...Eric Daniels, the Lloyds chief executive, is currently paid a basic salary of £1.03m.

The bank's other five executive directors before the HBOS takeover was announced had a basic salary of between £590,000 and £680,000.

They also have short- and long-term incentive schemes that include annual bonuses of up to 200% of basic salary, with the exception of Daniels, who can boost his salary with a 225% bonus payout.