Economics and similar, for the sleep-deprived
A subtle change has been made to the comments links, so they no longer pop up. Does this in any way help with the problem about comments not appearing on permalinked posts, readers?
Update: seemingly not
Update: Oh yeah!
Friday, December 16, 2011
This is why people hate bankers
There was speculation on Thursday over whether Mr Horta-Osório should be entitled to his full annual bonus for 2011 of potentially more than £2m as a result of his absence
Well yes, if you come in, set a load of unrealistic targets, sack half the top management, fail to recruit replacements, abandon the targets and then take two months off on sick leave with insomnia, then I suppose that is the sort of thing that might go a bit badly at bonio time.
I think that maybe as much as 18% of the banker-rage is to do with the simple word "bonus". If it was called what it is - a commission on revenues - then people would understand a lot more that investment bankers are for the most part basically commission salesmen, that commission salesmen often make a hell of a lot of money, and that if you don't pay commission to your sales force, then soon you don't have a sales force. But linguistically, everyone knows that a "bonus" is an extra special reward for a particularly ace job, and thus they get a bit pissed off when someone standing in a pile of wreckage where a financial system used to be might be asking for one.
It is true about the sleep thing though. An awful lot of what determines success or failure in this industry (and, in my opinion, a lot of the backstory behind commenters on the Guardian banking blog who have a version of history where they left banking because they were just so damn ethical) is how well you handle lack of sleep.
this item posted by the management 12/16/2011 05:14:00 AM