once again ,Nickbat is the voice of reason.
1.-Gordon Brown is playing to the gallery. I would like to be a fly on the wall when he tells the ceo of citygroup (for example0) what he can or cant do.
2. the big headline bonuses are not a common occurence,and normally a large portion of the bonus is paid in share options,so they have been watching their bonuses disappear with share prices recently.
3. my daughter is a city trader.she started work at 6.30 a.m. yesterday and finished at 10.30 p.m. this is not untypical, which is why her boss told her recently that her job is as safe as his,and that he intends to try to get her the best salary/bonus package he possibly can at the end of the year.
4. If someone has the talent/flair/mental strength to be a really good trader and the employer doesnt pay them top dollar for what they do,they will simply take their skills to another company/country and which of us if we had the ability wouldnt do the same thing ?
5. The FSA is a waste of space, the u.k. head of Merril Lynch went to the head of the FSA last year and warned him of trouble in the near future and gave advice on what should be done,he was completely ignored.
6. Historically, finincial markets thrive best in countries with less regulative/political interference which is why New york has always had the biggest/best financial markets in the world and why moscow never has (although worryingly that could change.)
This crisis is largely due to idiotic politicians (u.s. and EU) if you dont believe that read Nickbats recent postings on the subject.
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Topic: the day after he said he would stop big bonuses (Read 1366 times)