http://www.crikey.com.au/2009/08/03/the-charmed-life-of-investment-bankers/ now with extra source Sun, 12 Feb 2012 00:58:05 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://www.crikey.com.au/2009/08/03/the-charmed-life-of-investment-bankers/#comment-33087 Altakoi Mon, 03 Aug 2009 07:16:05 +0000 http://www.crikey.com.au/2009/08/03/the-charmed-life-of-investment-bankers/#comment-33087 This will continue until excessive 'pay' on this scale is legally reframed as what it is - fraud or embezzlement. If, as the owner of a business, I employed my wife as my secretary and then payed her $2 million a year it would be considered somewhat dodgy. There is no better business case for paying executives this amount of money and, therefore, it is a misappropriation of business funds. Sue the boards, and see how long it continues. This will continue until excessive ‘pay’ on this scale is legally reframed as what it is - fraud or embezzlement. If, as the owner of a business, I employed my wife as my secretary and then payed her $2 million a year it would be considered somewhat dodgy. There is no better business case for paying executives this amount of money and, therefore, it is a misappropriation of business funds. Sue the boards, and see how long it continues.

]]>