The problem with banker’s bonuses is not only that it is
highway robbery, but that it encourages a sense of invulnerability, irresponsibility
and self-indulgence – as the conduct of bankers clearly shows. The banks were
run far more efficiently and responsibly l when executives weren't making that
kind of money.
These guys earn enough in a single year to keep them going for
life, so what do they care? They have the freedom to indulge themselves in all
sorts of costly ways – costly to their shareholders, their customers and the taxpayer.
The whole of history demonstrates a basic weakness of human nature: the
combination of power and plenty not only corrupts, it makes people stupid.
Exceptions prove the rule. Far from motivating bankers to do their best, the
government tempts them to do their worst.
1 comment:
You are absolutely rigth in what you say about banker's bonuses. What a ridiculous system, and although governments of various countries try to put a halt to it, the bankers always find new ways to get to 'their' money (which as a matter of fact isn't their money at all).
Anyway, I am reading your Praise of older women and find it very entertaing.
Gerrit Brand, Netherlands (www.gerritbrand.nl)
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