First it was Goldman Sachs,  Now it's JP Morgan Chase. The banks are making billions of dollars again...and planning bonuses galore!

At one level we should,  of course, celebrate the survival of the banking system. Like it or not, we need banks to make the economy function. But it is a bit galling; just months after they had to be bailed out with hundreds of billions of dollars in cash, that they turn round, hand back the money and start raking it in hand over fist.

All at a time when they are still refusing to lend to consumers, and more and more people are losing their jobs. It is inevitable that we should feel perhaps bitter about this when the outlook is so grim. …the collateral damage as the military might say.

So I say to the Banks – remember,  you survived because of the taxpayer cash,  not in spite of it.

Nothing will enrage us more than having our noses rubbed in an orgy of bonuses and excesses while we dig ourselves out of the crises.  It is something that few of us will forgive. Will you ?

Today, the coffee shop where I bought my afternoon latte and muffin went out of business. Coffee Republic wasn't the best in the world but it was conveniently across the street. And the staff often double stamped my loyalty card!

The end was swift. Some colleagues had even bought their breakfast and lunch there. Then the sign went up saying it was in administration and that branch was closed. I could see through the window the staff taking it all in. The food counters still had muffins, cakes and sandwiches for sale.

So why am I bringing this to your attention? Because The IMF, the European Union, the US Treasury – just about anyone who studies these things – is now saying things will get better next year. Some are more optimistc than others.

But the reality is the improvement will be slow and painstaking. And there are many more Coffee Republics, clothing, candy, grocery – you name it – stores that will fail.

The stock market's sharp post-March rally was a cruel deception. It led so many to believe this is over. It was an enthusiastic bout of nonsense, as I suspect this 2nd quarter earning season just starting, will show.

As for my afternoon shot of coffee and a muffin? Well there are two Starbucks just about within spitting distance of each other ... and a variety of other coffee shops.

In a recession as long and deep as this one only the strongest companies, and those that have the best products and really give the customer what they want, stand any chance of suriving. And even that is not a certainty as Coffee Republic proved.

Who is next?

Tonight's rant on profitable moment came after my report on the renovation of the Savoy Hotel in London – not the sort of place where you will find the Buffet Breakfast when it opens its doors in 2010. It gave me a chance to re-open my one-man campaign against the abomination of this horrible morning ordeal.

Everyone likes a nice hotel – chocolates on your pillow – big fluffy towels…..these days are tough for the hotel industry- one wonders if the owners of the Savoy regret starting such an expensive project right at the start of the recession.

There is one thing I have a particular bug bear about – and that’s the hotel buffet breakfast. I hate ‘em. Miserable congealed eggs simmering next to hours old sausages. Yuch. And as for those ridiculous conveyor belt toasters. Please– we have sent a man to the moon. We have split the atom. So why, oh why, can’t an hotel have a toaster that gets it right. Don’t laugh. First time round and the breads comes out barely touched by the heat…so I send it around again – and out comes a burnt charred piece of bread. Is it really that difficult ? Has ANYONE ever made a decent piece of toast in those horrible machines ? I doubt it

Am I alone ? Join me – it’s my one man campaign. Quest against the Buffet Breakfast.

So British Airways is asking its staff to volunteer to work for upto a month for free. (The Chief Executive has already said he is working in July for no pay!)

It all seems a bit topsy turvy. After all normally, I turn up for work. I do my job. I get paid. I go home. that natural order has been changed by BA's new suggestion. In a moment of generosity, it has even agreed the staff can spread the loss of wages over six months.

BA has had an existing scheme inviting staff to take a month unpaid leave for some time. The airline says this latest development came about because some staff wanted to part but their work wouldn't allow them to be out of the office for that long. Bingo. Now you can still help out. Come to work. For Free. BA is quite clear. This is a voluntary scheme. No-one will be forced to do this. I believe them.

What I find tricky is how this will work in reality. Some staff will want to justify why they couldn’t take part ? Others will join in because they feel they have to.

There will be BA managers who will view staff unfavourably if they didn’t take part especially when promotions are up for grabs. I can hear the private whispers…..He wasn’t a team player. She didn’t pitch in. I Did my bit  It will create two tiers – those who pitched in…and those who didn’t.

It has overtures of, "Daddy … what did you do in the war?"

Would you work for free to help out?