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    Having been away I am a bit behind on this one.

    I have not heard what Lloyds execs are doing but seeing the only reason they need a bail-out is to contend with the problems of absorbing HBOS it would be interesting to see if a distinction is being drawn between them and others.

    The basic rule though should be that bonuses have to be justified by performance and should not be a right. Individual execs may have achieved required performance in their areas of responsibility but should not suffer a loss because of others who have failed in theirs. For that reason I can see that their can be some justification, for some, at RBS for instance, but certainly not for those responsible for the losses.

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