"Wall Street pay is out of whack" ~top investment bank CEO.

[JQPublic1]

Credit Suisse CEO Tidjane Thiam says today's pay model for investment bankers "does not work."
That's according to Bloomberg's Jeffrey Voegeli, who reports that Thiam made the comments at a conference in Paris with the International Monetary Fund director, Christine Lagarde, and the Bank of England governor, Mark Carney.
"The business is structurally quite profitable provided the pay can go up and down. It's the 'and down' that they don't accept," Thiam reportedly said of investment bankers.
Many conservatives are offended by any talk of CEO's greed being stymied. Well, here is a CEO who thinks otherwise.......read more

 

[EdwardBaiamonte]

Credit Suisse CEO Tidjane Thiam says today's pay model for investment bankers "does not work."

of course that's stupid liberal pandering. If it does not work i banks would be failing. Or, people would be forming new i bank with lower salaries that did work. Do you understand?

 

[JQPublic1]

Credit Suisse CEO Tidjane Thiam says today's pay model for investment bankers "does not work."

of course that's stupid liberal pandering. If it does not work i banks would be failing. Or, people would be forming new i bank with lower salaries that did work. Do you understand?

If you don't read the whole article, you can't respond intelligently.... give it a try DEARRRRR!

 

[gipper]

A CEO bitching about the compensation levels of others. Now that is rich.

And besides, investment banker pay has been out of whack for a long time.

 

[EdwardBaiamonte]

A CEO bitching about the compensation levels of others. Now that is rich.

And besides, investment banker pay has been out of whack for a long time.

of course if its out of whack the free market would correct it assuming the govt does not interfere.

 

[Jomama]

When you have CEOs at three huge global banks saying that they find "significant challenges" of his firm's "inflexible compensation culture." Then things will change. And Ed points out the obvious, the changes will happen within the free market. IBankers are losing their jobs, being forced to move over seas, etc. Of course they'll work for less - just to keep employed. Wage pressure is always downward. But, even if you cut the pay in half, the best and brightest will still line up for these jobs because they'll still pay better than most alternatives.

 

[EdwardBaiamonte]

And Ed points out the obvious, the changes will happen within the free market. .

its obvious???? Why, when banking is more heavily regulated than health care and therefore even less subject to free market forces?