Governments Seek To Restrict Awards To Bankers

distrustIn the News (from Bloomberg):France Seeking Ban on Guaranteed Bonuses for Bankers” France wants the Group of 20 to go further in clamping down on banker pay, including a ban on guaranteed bonuses … Governments in France, Britain and the U.S. are struggling to implement promises made this year to restrict awards to bankers. In the U.S., the Treasury is reviewing compensation of top executives at seven companies that got aid from the government… Citigroup Inc., among U.S. companies being scrutinized, may seek to persuade energy trader Andrew Hall to accept stock [instead of cash] next year after paying him $100 million for 2008.

My Comment: What other course of action would you propose to the people who hold access to society’s funds? Their innate egoism does not allow them to part with this money unless there is a huge personal reward. If there is no such reward, they will simply keep it all for themselves.

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