Sharon Bowles, the UK Liberal Democrat MEP who chairs the EU parliament\’s economic affairs committee, also proposed that \”golden hellos\” should be clawed back if performance fell short.
Dear Lord, you\’d think these people would be able to understand their own arguments, wouldn\’t you?
And the argument here is that a bonus encourages people to strain too much, to take on too much risk in order to get the bonus. It might be true and it might not be but that is what the argument is.
So, in the case of a golden hello, does someone take more risk in order to earn it? No, obviously, they don\’t. But if that golden hello can be clawed back? Then yes they might.
Golden hellos actually solve the problem of excessive risk taking……
And as for this tosspot:
Belgian Green Party member Philippe Lamberts said he could not find any evidence that the remuneration policies at banks such as Deutsche Bank or Societe Generale \”correspond to any real value creation\”.
\”I am getting fed up of people saying this issue is populist and we should not go into that. Variable salary cannot be bigger than fixed salary,\” he said. \”Don\’t tell me you need two-fold, three-fold, five-fold variable salary to do good work. This is false,\” he said.
Remind me why we handed over the power over what a private business in London (or Bath, Bristol or Birmingham) can pay its employees and how to some Gaia worshipping loon from Flanders? Is this really essential to stopping Germay invading France. Again?