Not hitting the bankers where it hurts

Despite much bluster and publicity on the issue of bankers’ pay, the government’s announcement last week on recapitalising the country’s two biggest banks, contained very little by way of cutting the financial rewards of top bankers.

14th February, 2009

Despite much bluster and publicity on the issue of bankers’ pay, the government’s announcement last week on recapitalising the country’s two biggest banks, contained very little by way of cutting the financial rewards of top bankers.

The nine-page document on the bailout for AIB and Bank of Ireland had just four paragraphs on remuneration. All reform of executive pay at the banks has been left to the government appointed Covered...

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