Subtracted bonus

The top brass at Barclays have come under fire for choosing pricey Middle Eastern capital over UK state funds. Chief executive John Varley said Barclays needed “flexibility” around the operational strategy – that is, to avoid government meddling over where it invests, to whom it loans and when it pays dividends. Critics think the desired “flexibility” actually translates into bonus preservation for executives on the board, including Varley and Bob Diamond, who runs Barcap, the investment bank. L...