4 ms·
I still don't understand how banking always pays so well considering how the industry appears to be so good at creating internal level crises every couple of de
by Quarrelsome 4y ago
I still don't understand how banking always pays so well considering how the industry appears to be so good at creating internal level crises every couple of decades.
There are forever headlines in the UK about the banking industry putting pressure on the government to be able to pay out larger bonuses and such. Bank executives opining that they can't get the "best employees" if they don't pay the best. As you suggest it sounds to me like the "best" are the worst/most corrupt biggest risk takers.
Imagine if software had a Y2K every couple of decades that cost the public purse billion while everyone was pushing to pay developers even more. Maybe I don't understand banking but it just seems weird.
- watwut 4y agoMaybe these are not in opposition. Maybe banking need to pay more, because ethical people leave, people who have feeling of guilt want more money to compensate feeling of guilt and the remaining unethical people are good at negotiating for money. The regular crisis and having a lot of fraud inside is making it expensive.
- jen20 4y ago> Imagine if software had a Y2K every couple of decades that cost the public purse billion while everyone was pushing to pay developers even more. Heartbleed, Meltdown, Spectre, log4j etc all cost the taxpayer more than this event.
- Quarrelsome 4y agobut more than 2008? My nation has gone through 15 years of deep public spending cuts as a "consequence" of 2008 and the resulting deficit (albeit it was likely just used an excuse to implement anti-public-spending political ideology). Also I don't remember any of those events dipping into the public purse but rather being commercial liabilities.