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Unemployment News Industrialist Bashes Bloated Banker Bonuses
FRANKFURT January 28, 2010 Franz Fehrenbach, the chief executive of Bosch, the world’s largest car-parts supplier joined the furor over excessive banker bonuses, saying last Wednesday in an interview with the Financial Times:
“Industry and other clients of banks ... will no longer have to accept uncritically the omnipotence of the large banks.
“We will act very selectively. We will refrain from doing any more business with those banks that think their main objective is to maximise bonuses.”
He demanded much tougher regulation to prevent a future crisis.
“At many ... large banks, we do not see any change of behaviour or conclusive change in their business models ... We think it is irresponsible if some large banks more or less return to their pre-crisis behaviour.”
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| So, I guess it'll take a little longer for my ship to come in. I was laid off! |
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