Greg Prince's Blog

Musings and pontifications from a reality based progressive

Sanity in banking

Posted by Greg on February 16, 2009

Alas, it’s in the UK.

The government yesterday publicly hardened its position on bank executive bonuses saying it will be “very, very robust” in clamping down on bonuses for 2008 in banks in which it holds shares. It will only allow modest payments for clerks earning around £20,000 a year.

It came as David Cameron said he would cap all 2008 bonuses at £2,000 for staff in banks owned or partly owned by the government. He also said the government should be willing to sue any bank executive who insisted their contract entitled them to a large bonus for the year.

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One Response to “Sanity in banking”

  1. euandus3 said

    Thanks for you post. Very interesting. I have a few posts on the topic, in case you are interested.

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