Europe Exceeds US in Bank Bonus Crackdown

The banking business argues that bonus taxes and other boundaries could ground its most talented workers to defect to banks in other countries that don’t limit pay. Goldman Sachs, who is the privileged investment bank that repaid its $10 billion in bailout funds. The influential’s for Britain and France are implementing a one-time tax on large bonuses compensated by bailed-out banks – a constraint that goes distant beyond what’s being measured in the United States. Still, antagonism over lavish Wall Street pay is forcing some U.S. banks to take pre-emptive acts. As an alternative, they’ll be compensated in stock that can’t be cashed within five years.
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