EU to launch assault on bankers' bonuses
A group of key EU finance ministers will today launch an assault on the rewards earned by bankers and top managers in a move that poses a potential threat to the City of London. A confidential document prepared for the gathering in Brussels finds the "short-term" pay structure of modern capitalism has become deformed, causing firms to take on "excessive risk" without regard to the interests of stakeholders or society. While there is no concrete legislation on the table, ministers are eyeing curbs on stock options, bonuses and golden parachutes. The move is a clear sign that the EU noose is tightening on bankers, funds and corporate elites that have enjoyed light-touch regulation. snip http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/05/13/cnbonus113.xml They don't learn do they? Plenty of office space in Zurich, plenty more in Singapore.
A group of key EU finance ministers will today launch an assault on the rewards earned by bankers and top managers in a move that poses a potential threat to the City of London. A confidential document prepared for the gathering in Brussels finds the "short-term" pay structure of modern capitalism has become deformed, causing firms to take on "excessive risk" without regard to the interests of stakeholders or society. While there is no concrete legislation on the table, ministers are eyeing curbs on stock options, bonuses and golden parachutes. The move is a clear sign that the EU noose is tightening on bankers, funds and corporate elites that have enjoyed light-touch regulation. snip http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/05/13/cnbonus113.xml They don't learn do they? Plenty of office space in Zurich, plenty more in Singapore.