Dealbook reports that in a speech on Tuesday evening, former senior advisor to Morgan Stanley Lord Peter Levene decried the “present hysteria” about bonuses and drew the following comparison:
“It seems to me that to most people in this country, an invitation at this time to the Annual Banquet of the Guild of International Bankers might just rank alongside an invitation to the annual International Conference of Al Qaeda…The question we must all ask ourselves is — where did it all go wrong?”
Levene also stoop up for maligned RBS CEO Stephen Hester, who was recently forced to turn down his bonus due to public outcry, calling criticism of talented individuals an “injustice.”
He also said that, “if I heard people at the water cooler discussing the performance of bankers…I would accept more easily a discussion on pay.”
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