Sunday, Dec 20, 2009

Banks eager to take the bonus but risk is still high! (See closing paragraph)

Guardian - Business Comment: Bank of England expert calls the bankers' bluff

It's fortunate for a number of reasons that the BA cabin crew strike has been averted – not least because disenchanted bankers can head for Heathrow right now, if that's what they really want.
The argument that banks and bankers are highly mobile and would leave London if provoked is endlessly deployed to defend bonuses, but it is not interrogated nearly enough. Now Andy Haldane, the Bank of England's head of financial stability, has called the bankers' bluff. He is on safe ground to suppose there will not be overspill in the departure lounge.

Posted by tim lozinski @ 07:59 AM (796 views)
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