Peston makes an very interesting point:
how much should people be paid?
As a lefty, i'm pretty much against big pay packets or bonuses for anyone. Hester may be an exception. His contract states that failure will not be rewarded (finally!), and his big cheque is dependent on his meeting certain targets which include getting a big profit on tax-payer investment and therefore significantly improving the public finances.
Surely all these things are the right things to do, and should have been done ages ago. It's been obvious to me that there has been a problem in bankers' pay for a long time, so others should have been able to see it if i could.
On top of that, a bloke taking home millions while millions are unemployed is an issue that hasn't been to the front in the current crisis, but that's no surprise