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Banks, Bonuses and Capitalism – Full text of letter published in the London Times Tuesday 31st Jan 2012
Tweet Banks, Bonuses and Capitalism The concept of the bonus is the problem, not its size. It fosters lazy management, indiscriminate sales, bad salesmanship and is irreducibly divisive; hostile to teamwork and destructive of team spirit. The bonus is based upon a cynical contempt for people: that they can only be motivated by greed and cannot take [...]
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EU plans curbs on hedge fund pay
European regulators published draft rules to crack down on excessive bonuses for managers of hedge funds. ||| London - European regulators published draft rules on Thursday to crack down on excessive bonuses for managers of hedge fu... Read Post
A Credit Suisse Managing Director Leaves After A Dispute Over His Team's Bonus Pool
Jan. 7 (Bloomberg) -- Steve Oplinger, co-head of U.S. high- yield sales for Credit Suisse Group AG, left Switzerland’s second-biggest bank amid a disagreement over his group’s compensation, two people briefed on the matter said. Opl... Read Post
'Reckless bankers risk prison in UK’
Bankers found guilty of “reckless misconduct” in Britain could end up in prison and be stripped of bonuses. ||| London - Bankers found guilty of “reckless misconduct” in Britain could end up in prison and be stripped of bonuses, und... Read Post