The Financial Services Authority held three Christmas parties for its staff costing a total of more than £200,000 at the height of the banking crisis last year. The £214,159.50 bill footed by the taxpayer does not include the regulator's wholesale division of 643 staff, who organised their own departmental parties.
The FSA was unable to break down the exact cost per head, since it did not record how many staff turned up, but if every employee attended, the price works out at £100 each. One party was held at Madame Tussauds for the operations division, a second at River, in Waterloo, for the direct report arm, and a third at Troxy, Limehouse, for the retail division.
This was in The Daily Telegraph yesterday.
And the reason for not rising up and slaughtering them is?