Thursday, May 15, 2008

Quote: Hordac The Refuser


I see a future ruled only by those in leather, with fast cars and ass-less chaps and guns and mutant powers.

This in response to an Ambrose Evans-Pritchard column, EU to launch assault on bankers' bonuses
A confidential document prepared for the gathering in Brussels finds the "short-term" pay structure of modern capitalism has become deformed, causing firms to take on "excessive risk" without regard to the interests of stakeholders or society.

And:
EU governments are paying close attention to a law going to the Dutch parliament this month. It imposes a 30pc supertax on pay packages above €500,000 (£398,000) and limits bonuses and stock options to 100pc of pay - far below the windfalls made by UK-based traders and bankers at the height of the credit bubble.

I don't think Ambrose favors it.

And I do think Hordac is correct.

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