The head of Germany’s second-largest bank said huge financial-industry bonuses have gone “absolutely out of bounds,” and called on other major banks to slash the payments.
Commerzbank Chairman Klaus-Peter Mueller told Bloomberg News in an interview that massive bonuses were “almost a kind of betrayal on shareholders. It is simply impossible that you give up to 50% of earnings on businesses into bonus pools.”
via German banker sees no defense of industry bonuses | Money & Company | Los Angeles Times.
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