Europe’s Misdirected Anger Over Executive Pay
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March 6 (Bloomberg) -- Anger in Europe over executive payis finding its way into legislation. The European Parliament,backed by almost all of the European Union’s finance ministers,plans to cap bankers’ bonuses, and 68 percent of Swiss votersendorsed a referendum initiative to ban “golden parachutes” andput other curbs on bosses’ pay.
Agitated voters, grandstanding politicians and intelligentpolicy rarely go together, and this is a case in point.