Comments on: Banks need to move on: HSBC 1: Barclays 0 http://www.taxresearch.org.uk/Blog/2008/06/11/banks-need-to-move-on-hsbc-1-barclays-0/ Richard Murphy on tax and corporate accountability Thu, 20 Nov 2008 18:23:37 +0000 http://wordpress.org/?v=2.6 By: Tax Research LLP http://www.taxresearch.org.uk/Blog/2008/06/11/banks-need-to-move-on-hsbc-1-barclays-0/#comment-448164 Tax Research LLP Wed, 11 Jun 2008 15:14:53 +0000 http://www.taxresearch.org.uk/Blog/2008/06/11/banks-need-to-move-on-hsbc-1-barclays-0/#comment-448164 Well said that man Take a pay rise...... Well said that man

Take a pay rise……

]]> By: roger rabbit http://www.taxresearch.org.uk/Blog/2008/06/11/banks-need-to-move-on-hsbc-1-barclays-0/#comment-448159 roger rabbit Wed, 11 Jun 2008 14:47:15 +0000 http://www.taxresearch.org.uk/Blog/2008/06/11/banks-need-to-move-on-hsbc-1-barclays-0/#comment-448159 “What I am wary about is overreaction. This industry thrives on innovation and creativity and it is incredibly important that the creative juices of the global financial services industry . . . are not caused to evaporate.” May I be permitted to deliver a response? What I am wary about is overremuneration. The salaries and bonuses in this industry thrive on innovation and creativity and, as we have recently seen, opaqueness, lack of understanding of risk and short-termism that is incompatible with stable wealth generation. It is incredibly important that the creative juices of the global financial services industry...are not the cause of short-term bonus-seeking. “What I am wary about is overreaction. This industry thrives on innovation and creativity and it is incredibly important that the creative juices of the global financial services industry . . . are not caused to evaporate.”

May I be permitted to deliver a response?

What I am wary about is overremuneration. The salaries and bonuses in this industry thrive on innovation and creativity and, as we have recently seen, opaqueness, lack of understanding of risk and short-termism that is incompatible with stable wealth generation. It is incredibly important that the creative juices of the global financial services industry…are not the cause of short-term bonus-seeking.

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