Bank bonuses

[SharperDingaan]

 

A touchy topic for some, but in case you thought it couldn't happen ....

 

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/7141221/Banks-told-to-comply-on-bonuses-or-lose-UK-banking-licences-in-shock-FSA-ultimatum.html

 

Then keep in mind that this is the UK, the sovereign is heavily reliant upon its huge financial services sector, & this is that sectors regulator putting a gun to the industry's head. ie: Its my sandbox - you'll do as you're told, or you can leave.

 

Soros has been saying for quite some time that the 'tone-deaf' attitude of I-banks is their biggest liability. It would appear that some of the major regulators agree with him.

 

SD

[Guest dealraker]

In my opinion it can be argued here in the US that capitalism/stock ownership is not a weath builder for most Americans- it is more of a weath transfer from shareholders to upper management and the fee people such as mutual fund managers, brokers, financial planners etc.  We neither know how or have the gumption to change compensation that should be based on investor success instead of hype and lies.

[Myth465]

Tone deaf is the right word.

Since when did banking become God's work.

 

Just read the title. Talk about laying down the lay. This is why I do believe in privatization though. The Government through the legal system inherently has control of all corporations operating in the country.

[Myth465]

You have to love this honest and frank response. This is the sort of response I can respect.

 

One executive faced with dealing with the new ultimatum said: "It was pretty amazing but we actually chuckled because it's the sort of hard ball we would have played if we'd been in the FSA's shoes."