Should bankers be paid less? President Barack Obama’s pay tsar, Kenneth Feinberg, can’t seem to make up his mind. After cutting total compensation at the seven largest recipients of US taxpayer money in October, he has now said he might reconsider that move if talent at the firms affected walks out the door. Well of course they will. There are only two banks on the list – Citi and Bank of America Merrill Lynch. Cutting the salaries there will, without any doubt, push staff into the hands of JPMorgan, Morgan Stanley and Goldman Sachs.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
