Posted on 09/07/2009 3:57:48 AM PDT by paudio
Bankers will see their pay-outs curtailed after G20 ministers agreed at the weekend to limit them to sucessful deals.
The groundbreaking agreement has been designed to limit the negative economic effects of deals which go wrong and help the global recovery continue to take hold. The Chancellor Alistair Darling said the new clawback measures would mean financial companies are "focused on long-term sustainability and strength" and would result in staff not being "rewarded for reckless behaviour".
However a plan put forward by the German and French governments to cap bankers' pay was rejected as a result of protests from the UK and US administrations.
(Excerpt) Read more at thefirstpost.co.uk ...
The cult of losers amazes me. They want to get paid for failure, along with bonuses
and all of the other perks. WOW, I'd love to get a bonus when my customers DON'T buy
our products. What the hell are they thinking...
Let’s have a “clawback” of our liberties in the election next year, voting out every Congressman and Senator who voted for any of BO’s government power grabs.
“Clawback Our Liberty!” should fit on a poster at the TEA parties.
Legislators world wide, make a fair salary and suddenly become millionaires over night, let the thieves police themselves before they police us.
Like government employees everywhere......'Where's mine?'
“However a plan put forward by the German and French governments to cap bankers’ pay was rejected as a result of protests from the UK and US administrations.”
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??????????? How does this fit in with the administration’s claims of limiting executive compensation on Wall Street, etc.?
This little guy in the White House is sooo out of his league
he’s showing just how inexperienced he really is.
The teleprompter has a hard time remembering what he says...LOL
“Bankers will see their pay-outs curtailed after G20 ministers agreed at the weekend to limit them to sucessful deals. “
It’s none of the US government’s business to decide how much a company pays it’s employees.
And the G20 doesn’t make law in this nation; yet..
Must be they didn’t go along with our administration’s demand for a ‘Goldman exception’.
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