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The courage to call the 'banking' bluff - YEAH
The 'catch cry' of the banking sector (and most corporates with regard to their CEOs) is that if the bright sparks aren't paid these ludicrous salaries and bonuses THEY WILL GO ELSEWHERE.
My twofold thoughts have always been:
1. LET THEM!!
2. Where?
Fortunately someone else agrees with me - great article from The Observer with the suggestion that The Cayman Islands and Switzerland are probably the only places bankers could spit the dummy and go to. Switzerland is overflowing with sick banks and sad bankers - and the Cayman Islands?? How many bankers does one island need?
Comments from Andy Haldane - head of stability (Bank of England) - urges banks to replenish their capital by starting a virtuous circle - retaining more capital instead of paying bonuses.
Give that man a knighthood!
A great space to watch methinks. ann
Read more Ecademy.com
Posted by Ann Andrews CSP, filed under Tool-box News and posted on 23/12/2009
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