Bankers with a W revisited

Walking through Central earlier this afternoon, I observed that three banks - Citibank, Dah Sing and DBS - had protesters outside them, apparently aggrieved victims of the Lehman's minibonds saga.

We have already seen plenty of evidence that, on the scale of human decency, bankers rate only slightly above lawyers and politicians. Here's another piece: while waiting for a bus in Des Voeux Road, I noticed that Wing Lung Bank has cordoned off part of its broad front steps and has posted no fewer than four security staff there. So far as I can see their primary function - perhaps their sole function - is to keep non-customers from defiling the bank;s sacred steps with their presence.

Even at minimum wage, by the time you take into account MPF, annual bonus and uniforms, this means the bank must be spending close to half a million dollars a year just to prevent those waiting for a bus from enjoying the only spot of shelter from sun or rain in the vicinity. How mean can you get? (If any Wing Lung shareholder is reading this, they might like to question whether this is an appropriate use of the bank's money.)