Wall Street bonus to go the way of the dinosaur?
Filed Under (Business News) by Fred Chan on 22-02-2009
Tagged Under : wall street bonus
UBS AG was told to reduce bonuses after the Swiss government gave the country’s biggest bank a US$59.2 billion (US$1 = RM3.61) lifeline. Bank of America Corp is under pressure to scale back payouts after New York Attorney General Andrew Cuomo subpoenaed executives earlier this week for information on compensation and President Barack Obama said just yesterday that bonuses handed out by banks represent “the height of irresponsibility”.
