Bankers Expect Rising Bonus Pay to Break Records, page 1

Bankers Expect Rising Bonus Pay to Break Records
Bankers Expect Rising Bonus Pay to Break Records in Global Poll

The industry is “making money, though with government help.”

Worldwide, a majority of market professionals in the survey also turn thumbs down on government attempts to limit compensation, with 51 percent saying restrictions will stifle useful innovation. Only about 38 percent think pay limits will control excessive risk-taking. In the U.S., where President Barack Obama has chided Wall Street for being “motivated only by the appetite for quick kills and bloated bonuses,” 65 percent say the restrictions will damp innovation.

The findings “give some fuel to the people who claim that Wall Street hasn’t really gotten it,” said Mark Borges, a compensation consultant at Compensia Inc. in Corte Madera, California. “There really hasn’t been a dramatic cultural shift in these organizations.” The survey responses are at odds with populist outrage unleashed when American International Group Inc. earlier this year paid bonuses to the financial products unit responsible for the derivatives trades that fueled $100 billion in 2008 losses and led to a $182 billion taxpayer bailout. In an ABC News/Washington Post survey earlier this month, 71 percent backed the Obama administration’s plans to order deep cuts in executive pay at bailed-out companies.

USDA Forces Whole Foods To Accept Monsanto
  Posted 9 days ago with 99 member flags

India to pay gold instead of dollars for Iranian oil. Oil and gold markets stunned
  Posted 18 days ago with 95 member flags

Greece wipes out Citizens Debt!! Tells Bankers to suck it
  Posted 10 days ago with 78 member flags

The Collapse of The American Dream Explained in Animation
  Posted 17 days ago with 53 member flags

Proponents of Gold Standard May Be Violent Extremists; Report ALL Suspicious Activity To the FBI
  Posted 3 days ago with 44 member flags

Obama on the verge of a deal with the banks
  Posted 15 days ago with 23 member flags

EU financial dictatorship agreed to by EU ministers last night
  Posted 17 days ago with 17 member flags

Bankers requesting that Greece become their debt slaves
  Posted 14 days ago with 15 member flags