 Britain was the first country to impose a 50% tax on the hefty bonuses bankers were receiving, France followed close suit, and recently Goldman Sachs (and plunders) announced they would do the same. That would mean that their top executives would be paid in the form of long term stock, they wont have those huge cash year-ends, but they will still do very in the company and the shareholders do very well. Apparently this is going to be a 5 year plan (forgive the old reference to the Soviet Union). The reason we have nicknamed them Goldman Sachs and Plunders is because until now it seemed they really didn't concentrate on making money for their shareholders as much as they did for themselves. Hopefully now that will have to change. Additionally, the shares that they get wont be able to be sold for 5 years (eternity in the financial world), which means that will have no choice but to live off their 7 digit annual salary until then (and maybe clip coupons). |
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