Credit crunch? Not for the fat cats; they're still laughing all the way to the bank...

City fat cats will receive 'megabucks' bonuses totalling more than £3.5billion this year despite the financial crisis, analysts predicted yesterday. 

Hedge fund managers, investment bankers and commodity traders are expected to be awarded seven-figure payouts at the end of the year, according to a report by an economic consultancy. 

The prediction came days after Gordon Brown called for an end to the days of 'irresponsible behaviour' and excessive bonuses as he unveiled his £500billion bank rescue plan.

Analysis by the Centre for Economics and Business Research found that City workers are likely to receive £3.5billion in bonuses this year and £2.7billion in 2009. 

Both figures are lower than in previous years, but will still result in many financiers being rewarded with vast sums despite a catastrophic few months for the economy. More...

See also:

• Crisis? Not for the fat cats at Barclays...
• Are You Paying For Corporate Fat Cats?
• Lehman Bros head took home $300m!!! 
• Here's 10cc and the Wall Street Shuffle...
• Huge bonuses paid to City bankers was a factor in the credit crunch...