Banks given all clear to end bonus bonanza

Pitcher, Greg
October 2008
Personnel Today;10/14/2008, p4
Trade Publication
The article reports that banks in Great Britain have to cut back on bonuses after the £50 billion government bailout. Chancellor of the Exchequer Alistair Darling says that banks would have to curb big payouts if they took taxpayers' money. He said that the aim to curb incentives that reward short-term risk at the expense of long-term performance is a crucial step in rebuilding public confidence in the banking system.


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