Millionare bankers threaten exodus to Mumbai if denied their six-figure bonuses., page 1
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Topic started on 10-10-2008 @ 01:58 AM by Rinorino2

Millionare bankers threaten exodus to Mumbai if denied their six-figure bonuses.


www.--.com
The government may have no concrete plans about how it will rein in the pay of bank bosses - and curbing the cash paid out to those below the most senior levels will be even more challenging.

(visit the link for the full news article)


reply posted on 10-10-2008 @ 02:06 AM by Rinorino2
reply to post by Mercenary2007



....And that is where bailout money is going - amazing.


reply posted on 10-10-2008 @ 03:39 AM by Merriman Weir
I'm not really sure how much weight is in this threat. I think the actual threat is genuine but I'm not sure whether it can really be carried out in the way that these bankers are claiming.

Firstly, Mumbai and elsewhere are watching all this. They're probably following what's happening in Europe and America more closely and with a far greater understanding than 99% of the people on this site. They know what's gone wrong and what's gone right in all of this; they can see the good management from the bad management. Why, exactly would banking sectors like Mumbai actually want to take on all these people. People they've already watched run several markets into the ground. If Mumbai are not being affected to the extent everyone else is by what's happening, I bet they're counting themselves as being very fortunate and desperate to not have their own markets fail. Why would they want a large influx of bankers from failing economies ruining what they've got?

I dare say, some of these bankers stamping their feet will find jobs there, but many more won't. Even if Mumbai and elsewhere was willing to take on some of the bankers, perhaps due to previous mutual back scratching and deal making, then what about the rest? How could an already competitive industry just absorb a large amount of employees from an another country? Employees that are coming with high wage demands and expectations; these aren't immigrants coming looking for minimum wage jobs and their wages will have to come from somewhere.

In an unstable world market, does it really make sense for them to take these bankers in?



reply posted on 10-10-2008 @ 04:35 AM by Sheridan
reply to post by jmlima


For a long time, no one is going to pick up a loan, so, no they can't dictate. Do you believe that people are not going to learn from the current events? See what happened after 1929. The American Dream come true. So, if it's a loop event, the second American Dream will come true, where peace and quite will be found. But I hope we're not going to make the same mistake what we did before and we're going to kick all the banks out of the country.
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