Lord Myners' proposal to force banks to reveal the pay of their executives outside the board is an interesting one. And deeply flawed. While we're in “kick a banker” season at the moment we could just as easily move on to other industries. Does the City minister envisage requiring oil companies to disclose their remuneration rates if it's felt their profits are too great? Or, if the drugs manufacturers are thought to be profiteering from swine flu treatments, what then?

Myners also suggests that Sir Fred Goodwin should do charity work to rebuild his reputation. Surely that is up to Goodwin and not for the Government to say?

But, while we're at it, City Spy can think of several government ministers and MPs who ought to do charity work as a way of making amends…

* AREN'T those bankers at Barclays clever? Well, not really. They just operate in a state-subsidised environment in an industry that lacks shame. Bigging up their profit figures yesterday, one seasoned City commentator noted: “At no time did Barclays avail themselves of government capital.” This just isn't so. They took part in the Bank of England's Special Liquidity Scheme. And there's an implied guarantee anyway on all big banks. They aren't making money because they are brilliant. They are making money because the cost of capital has been reduced to nearly zero — in which circumstances they could hardly fail to do well.As for being left alone to make money without government interference, well, without interference, they would be bust....

* A City sage on the Barclays profits, achieved partly thanks to taxpayer backing: “It's like a guy on income support lording it over a guy on unemployment benefit.”

Who Guards the Observer?

Carolyn McCall, chief executive of Guardian Media Group, is less than happy about leaks that she is considering closing the Observer to save sister title the Guardian — after racking up losses of £90 million last year.

“You may have read coverage today and over the weekend about the future of the Observer, alongside reporting of GMG's annual results,” wrote McCall in an email to staff. “We should not be surprised when commercial rivals seek to damage us, fail to give the full picture or speculate about our future.”

So would she deny the story about closing the Observer? Er, no. “A wide variety of different options, approaches and scenarios is being developed and will be considered. This is what has leaked, and resulted in headlines about the future of the Observer… It is far too early to say what its outcome will be.” Gosh. How appalling for the Guardian Media Group, which faithfully reports every woe and setback at other media companies in great detail, having to contend with leaks and criticism.

* “Our ability to fulfil our core purpose — securing the long-term future of The Guardian — is therefore not in doubt, provided we make the right changes within [Guardian News and Media],” adds Carolyn McCall. “Every media company, everywhere, is having to make difficult decisions. We are no exception — but our advantage is that we can take a long-term view and work hard not to damage the core business.” So the core business is the Guardian. And the Observer is… ?

Calm down, but taxpayers are on a Winner with esure

AT least one part of the Government banking rescue seems to be a winner. As part of the Lloyds-HBOS rescue, the state is now effectively the major shareholder in insurer esure, where HBOS was the majority shareholder. Esure's 2008 results showed pre-tax profits soaring from £14.3 million to £38 million while its income from premiums rose from £366 million to £491 million. At this rate a sale or float of esure — which features Michael “calm down, dear” Winner in its advertisements — could generate a healthy profit for the taxpayer.

* POOR RBS. The beleaguered bank has acquired an implacable new foe: Liverpool supporters, indignant at the bank's role in refinancing a loan taken out by the football club's unpopular American owners Tom Hicks and George Gillett. Three local branches of RBS have been attacked, their doors padlocked and the buildings plastered with posters reading: “Closed. RBS say no to re-financing LFC.” The aim is to force RBS to reconsider its commitment and force the duo to sell up.

* THE joke in City Spy about the woman coming to the aid of a boy who was choking on a 10p piece (to the amazement of onlookers, she squeezed his testicles until he disgorged the 10p and when they asked how she knew such a trick, she declared she was from the Inland Revenue) has prompted much response from readers. They're all struck by the same thought: that she couldn't possibly be from the Inland Revenue because she gave him the 10p back.

* Consumer pain from The Independent yesterday: “Warning: oil supplies are running out fast.” Investor gain from AP newswire — also yesterday : “Oil prices leapt above $70 a barrel Monday in Asia on investor expectations a recovering global economy will boost crude demand.”

* Liz Peek, wife of CIT chief executive Jeffrey Peek — and author of Confessions Of A TARP Wife — has written about bonuses for US website the Huffington Post. Quelle surprise, she wants them back. We need to “root” for them, apparently —because “favourite watering holes like the Four Seasons Restaurant” and department store Saks Fifth Avenue are missing out on valuable custom. She says: “Taking home a slice of the pie you bake is the way the industry works. Those pies are looking pretty tasty.” Or perhaps not. With shares in TARP-supported CIT plunging, and Moody's cutting its credit rating, Peek's slice of pie might not be so big after all.