Don't be naughty boys!

How the executives at RBS must have quaked in their boots when their majority shareholder, Peter Mandelson, gave them a severe ear bashing....

Lord Mandelson has told the Royal Bank of Scotland that it risks alienating ordinary people if it gave its traders and bosses "exorbitant" bonuses.

That's him really putting his foot down and showing who really, really, pulls the strings.

Of course, the majority shareholder can actually set the maximum level of pay and bonuses that the directors can award, but that would be going just a step too far for the business-idolising Conservative Labour Party.

Meanwhile in the heartland of free enterprise that American-hating Commie President Obama has announced a limit of $500,000 (£355,000) on executive pay for any company that needs Government aid.

If the example of Northern Rock is anything to go by, the Government think that the bigger the pay packet the better the deal they are getting. When of course, all they are doing is talking up salaries and getting screwed on the deal.

Whilst the lowest paid see benefits fall and tax rates rise......