For those bankers and other finance professionals looking to escape centrally dictated pay caps, cross Germany off the list of havens.
Bankers who take unjustifiable risks in business deals will be forced to repay their bonuses under new rules unveiled by German financial watchdog Bafin on Friday."Aggressive compensation systems, along with other factors, contributed to the financial crisis in that they set the wrong incentives," Bafin said in a statement on changes it is making to its Minimum Requirements for Risk Management standards.
We would wonder aloud who rules on what is "unjustified," but we suspect we already know the answer. Nothing exciting goes on in Germany anyway so... no big loss.
German watchdog takes aim at banker bonuses [Reuters]
Posted by guest , Aug 14, 2009 3:06PM
Bess made you step up the tag lines, eh? I don't think (could be wrong) you had a tag line with the word (porn" in it for the last 2 weeks.
Posted by guest , Aug 14, 2009 3:06PM
Das ist völlig falsch. Wir wollen Spaß haben!
Posted by guest , Aug 14, 2009 3:13PM
What do you mean, "what does "unjustifiable" mean"? It means, uh, what we think it means. In hindsight. After the next deal blows up. But if a deal is risky and works and makes money, that's fine.
Until we decide it's not.
Or something.
Posted by guest , Aug 14, 2009 3:16PM
They got a lot of experience with forced labor.
Posted by guest , Aug 14, 2009 3:16PM
Berlin's okay, for that late '90's Detroit rave scene.
Posted by guest , Aug 14, 2009 4:42PM
Andrew Rastrick das ist falsch,Suks my dick quietly.
Posted by guest , Aug 14, 2009 4:42PM
Andrew Rastrick das ist falsch,Suks my dick quietly.
Posted by guest , Aug 14, 2009 4:42PM
Andrew Rastrick das ist falsch,Suks my dick quietly.