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Fat cats must go, Bonus of Investment bankers perverted, says Britain & France

by SOLARLIFE | September 21, 2008 at 01:15 pm | 115 views | 2 comments | 0 recommendations

Britain & France describe Bonus profits of wealthy investment bankers and traders as perverse

Gordon Brown UK and Christine Lagarde, France's economy minister, both want to end the payment system of Investment banks. They say this was a major cause, to take high risks, that ruined the finance system. The "fat cats" of London's financial district are a frequent target of the media.

Britain and France took aim at wealthy bankers and traders on Sunday, describing the bonus culture as "perverse" and "unacceptable" as officials sought culprits in the global financial crisis.

The prime minister, France's economy minister and the chief regulator of London's financial markets all pointed the finger at the pay structure among investment banks and brokerages and called for a reining in of excess.

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Beaulieu

at 02:12 on September 23rd, 2008

Fat cats are everywhere, not just in banking, the rail business for example.. and look how bad our rail service is sometimes! High train fares, poor service and high fat cat bonuses! Something has to be done.