# Hypocrites
BBC:
Bankers' bonuses should be deferred in order to reward long-term success not short-term risk-taking, G20 ministers propose.
Politicians' plans to spend everyone else's money should be deferred in order to reward long-term success not short-term pre-election risk-taking, I propose.
Aside: Right or wrong, banks pay bonuses for a reason, and will carry doing so, one way or another, no matter what legislation is in place, as long as they perceive the return to be worth it. The problem isn't that banks are paying big bonuses that reward risk-taking, it's that from banks' perspectives, there are no risks. They're insured against failure by the taxpayer. If governments want banks to stop taking risks, they should let the risk-taking stupid banks fail.
File under: politiek : {2009.09.05 - 08:11}
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