Bankers pay

Way to many people are worried about the past [1] and not enough about the future, when I see complaints about how much bankers are paid or even directors of big companies never see anybody saying "Why don't we create a law to prevent this in future".

I am not saying outlaw bonuses, but do have a law that mandates that bonuses be just and in the public interest. Bonuses are an important incentive to some cases and owners of a company should get a larger share than others.

However in the recent banking crisis, clearly there has been payments which are not in the public interest since the public have saved the banks and businesses from collapse. That way a director of a company cannot pump up the value of the business and then let it go bust and taking a golden parachute with them.

Being cynical I would say such a law would never happen, a lot of long standing MP's end up as non-executive directors and such a law would ruin their retirement plans.

[1] http://www.bbc.co.uk/blogs/thereporters/robertpeston/2009/03/goodwins_tax_break.html

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