Yahoo, Reuters, Tuesday 24 May 2011
LONDON (Reuters) - Bonuses paid out in the banking sector have been partly financed by the taxpayers' implicit subsidy for the industry, the head of the country's Independent Commission on Banking said on Tuesday.
"I think some of the bonuses have been financed that way," John Vickers, chairman of the Independent Commission on Banking, told parliament's Treasury Select Committee.
(Reporting by Sudip Kar-Gupta; Editing by Myles Neligan)
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