Public must learn to 'tolerate the inequality' of bonuses, says Goldman Sachs vice-chairman Lord Griffiths »
Posted By berkeley 1 month, 3 weeks ago in Political NewsSpeaking to an audience at St Paul's Cathedral in London about morality in the marketplace last night, Griffiths said the British public should "tolerate the inequality as a way to achieve greater prosperity for all".
He added that he knew what inequality felt like after spending his childhood in a mining town in Wales. Both his grandfathers were miners who had to retire from work through injury.
With public anger mounting at the forecast of bumper bonuses for bankers only a year after the industry was rescued by the taxpayer, he said bankers' bonuses should be seen as part of a longer-term investment in Britain's economy. "I believe that we should be thinking about the medium-term common good, not the short-term common good ... We should not, therefore, be ashamed of offering compensation in an internationally competitive market which ensures the bank businesses here and employs British people," he said.
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berkeley
If tyranny and oppression come to this land, it will be in the guise of fighting a foreign enemy. Of all the enemies to public ...
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slate1 month, 3 weeks ago
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I think it's great for people to make money. However how much is really needed? Would it not serve these people to not take as much and let their workers make a little more? A well paid employee tends to do much better work, since they think they are being paid well for their contributions that make these bonuses possible for the upper staff.
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crespi1 month, 3 weeks ago
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"Public must learn to 'tolerate the inequality' of bonuses, says Goldman Sachs vice-chairman Lord Griffiths..."
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And Goldman Sachs must tolerate us beating the ever lovin' crap out of them to within an inch of their lives, hopefully crippling them.
THEY should learn to tolerate THAT.
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