Stop Press: Wall Street Does It Again
by Miki Saxon
I doubt there are any Wall Street bankers who don’t consider themselves leaders and they exist in a world where innovation never stops.
Now, those wily, innovative leaders have come up with a new product to avoid new regulations.
Investment bankers in the US have begun using equity derivatives to convert restricted shares paid as bonuses into cash, side-stepping new guidelines on remuneration which were designed to prevent bankers cashing out for at least three years, according to a headhunter.
Popular wisdom wants us to believe that leaders ‘do the right thing’, but when it comes to those on Wall Street it’s strictly the right thing for themselves.
Image credit: HikingArtist on flickr
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