In 2014, the EU passed legislation that capped bankers' bonuses at 100% of their pay or 200% with shareholder approval. There are currently no caps on banker's pay in Canada. Proponents of the cap say that it will reduce incentives for bankers to take excessive risk similar to what led to the 2008 financial crisis. Opponents say that any cap on bankers' pay will push up non-bonus pay and cause bank's costs to rise.
they shouldn’t get a bonus at all, they target financially struggling/ people who are undereducated about their options for investing or saving and offer unrealistic “opportunities” with high rates of interest and outrageous penalties disclosed in tricky wording/ or cloaked within the “fine print” not disclosed verbally before signing your life away. you really think these people deserve to be rewarded
Yes, lower the cap to 20%, and give bonuses only for positive performance. The guy who wrecked Nortel walked away with millions in bonuses for driving the company into the ground. Meanwhile retired workers got their pensions slashed. This is grossly unethical. Neither banks nor corporations should be allowed to reward ineptitude and bad management.
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