Friday, September 18, 2009

Politically Correct Bonuses Only

Just as Citi gets set to eject its top earner, European Union leaders want to make this a global policy.

They have called on the US and other G20 governments to impose binding rules on bankers’ bonuses, backed up by sanctions if necessary, when they meet in Pittsburgh next week.

In plain speak this is the policy they want:

No one who is creative enough to generate huge income for a bank should also be paid a huge income, himself.
The result of such a regulation will mean the best and the brightest will run from banking careers, only the politically crooked will remain.

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