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Re: New Prime Minister: Liz Truss
Quote:
Originally Posted by Damien
To be fair banker bonuses weren't the cause of the crash and the majority of legislation that was put in to combat the causes remains.
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But, they were a symptom of the mind-sets prevalent at the time.
As I posted a couple of times in 2011 in a previous thread
Quote:
Originally Posted by Hugh
The problem was they decoupled risk and reward - if they got it right, they got huge bonuses; if they got it wrong, they didn't lose anything (except, occasionally, their jobs).
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As someone who worked as Head of Technology for a £3 billion a year t/o Financial Services Company (2003-2007), then as a Contract Programme Manager for Barclay Capital for a year, the things I saw and heard that were seen as "normal practice" were very scary - "excess was success"… 
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