by Suff » 13 Dec 2012, 22:25
And the more we go on about this and the more we demand that governments interfere in company boards and company pay and compensation, the more that these salaries will be locked in. You think any major bank will get a CEO worth having with a "no fault" severance clause of less than £29M today?
The more the press keeps this up, the more the clauses will be worth. If they keep it up we'll see the first £100m no fault clause within a decade.
These are companies. Not government institustions specifically set up to suck money out of the people. These CEO's are answerable to boards of directors, not politicians and that is how it should be.
Don't like it? Don't do business with them.
Although I think you would find it quite hard to get a German bank account whilst living in the UK. All these new EU laws to make a "level playing field" in banking and banking regulation quite specifically forbid it. After all some other EU bank might lose money and the taxes, dear lord the taxes.
So when the press go off on one and politicians rant on about people who, quite simply, are doing a job, not a life servitude, just think about the fact that what is going on has Not One Single Thing to do with either the press or the govenment. At least when the banks are privately owned as the HSBC is.
There are 10 types of people in the world:
Those who understand Binary and those who do not.