File this under: “They needed a survey to discover this?”
The majority of banking executives oppose government intervention in setting bank compensation parameters, according to a bank executive survey conducted from Nov. 17-Dec. 3, 2009 by US audit firm Grant Thornton. The sentiment, however, is not as greatly embraced abroad.
The survey found 96% of 246 respondents do not agree the government should play a role in determining compensation, while 61% do not think a requirement to evaluate compensation will reduce excessive risk-taking.
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