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Does this scare you at all?

"An unprecedented crackdown on pay and bonuses for bankers was agreed by world leaders.

As disclosed in yesterday's Daily Telegraph, a new international set of rules will prohibit banks from paying traders and executives multi-million pound cash bonuses if they are making risky decisions. Regulators will assess how much risk traders are taking and those deemed to be making more risky decisions will only be paid in shares which cannot be sold for several years. "
http://www.telegraph.co.uk/finance/financetopics/g20-summit/5095750/G20-communique-Point-by-point-analysis.html

In plain English - banker pay will now be determined by international regulators. Not the bank, not the shareholders, not even the US gov't, but by all 19 countries in the G20. And there is nothing (except our president) stopping us from applying international "guidance" to every other field in the country.

 
NotPanicking

Asked by NotPanicking at 2:00 PM on Apr. 2, 2009 in Politics & Current Events

Level 51 (421,172 Credits)
This question is closed.
Answers (53)
  • How can any one be HAPPY with this?? Im scared for our childrens future.
    Anonymous

    Answer by Anonymous at 2:09 PM on Apr. 2, 2009

  • scare me? I almsot just had a heart attack reading it.
    Kbmancine

    Answer by Kbmancine at 2:01 PM on Apr. 2, 2009

  • socialism. global socialism. thank you mr. obama for handing over one of the last truly free capitalistic societies left in the world.
    Anonymous

    Answer by Anonymous at 2:02 PM on Apr. 2, 2009

  • Kind of depressing, where we're heading.
    mustbeGRACE

    Answer by mustbeGRACE at 2:05 PM on Apr. 2, 2009

  • How can any one be HAPPY with this??

    Easy, they don't understand what it means and think it's all about iPods
    NotPanicking

    Answer by NotPanicking at 2:11 PM on Apr. 2, 2009

  • It doesn't surprise me- Howard Koh -up for secretary of state, is big into trans nationalism as well. He's a scary guy. Thinks like 7 or 8 people should make decisions for the entire world, and that a nations government should be run for the good of the world, not the whim of us common folk.

    It's not surprising the Obama would look at someone like this, and would agree to these kinds of rules.

    We are heading in a direction that terrifies me.
    lovinangels

    Answer by lovinangels at 2:22 PM on Apr. 2, 2009

  • Really I don't think many of us Anti-oblama policy people are surprised. Nothing he does surprises me anymore. I am surprised though at how many people have their heads stuck so far in the sand or so far up their rear ends that they don't grasp what is happening.
    mamakirs

    Answer by mamakirs at 2:33 PM on Apr. 2, 2009

  • I find it more offensive than anything. Scared / concerned would probably be number 2 on my list though.
    I feel like the leaders of these countries are telling us all "you citizens are too stupid to invest and assume risk for reward, we are now going to make all decision for your benefit so you don't have to think so hard. Now remember, only one square per trip to the bathroom"
    QuinnMae

    Answer by QuinnMae at 2:52 PM on Apr. 2, 2009

  • Now remember, only one square per trip to the bathroom"


     Wipe first, then bend over, cause the gov't isn't done with you yet!

    grlygrlz2

    Answer by grlygrlz2 at 2:54 PM on Apr. 2, 2009

  • With SOX isn't banker pay already regulated to a certain extent?
    Fiveofakind2

    Answer by Fiveofakind2 at 3:03 PM on Apr. 2, 2009

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