Qualified advisers answering your
Financial Questions
call 0800 092 1245

US government introduces pay restrictions to bail out banks

It has been revealed that the US government has introduced significant pay restrictions for executives working at banks which have been bailed out by the authorities. The move comes after severe criticism of Wall Street in general and public anger at the substantial bonuses and pay agreements being negotiated. This is occurring despite the fact that many of Wall Street's more prominent financial businesses are currently being financed by the US authorities.

The UK government has yet to introduce significant pay restrictions for businesses which have been bailed out by the UK taxpayer but there is severe pressure to do so. Now that the US authorities have instigated such a move it would appear only on time before the UK government follow suit. However, they may need to act quickly because there is growing resentment amongst UK taxpayers at the payment of substantial bonuses to companies which were literally on the verge of bankruptcy.

There is a very thin line between employing the best in the industry, to protect taxpayer's assets and improve financial operations, and giving the impression of "jobs for the boys" with significant remuneration. Gordon Brown missed the opportunity to install the significant pay restrictions during the first rescue package and cannot afford to do so with this one.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details