Sarkozy scolds financial traders, managers about pay

02/6/2009 | Forbes

Announcing a vast array of tax cuts, investment incentives and other measures aimed at boosting economic growth in France, President Nicolas Sarkozy lashed out against bonuses for bank managers but said he was "more shocked by the system of pay" for financial traders than what bankers receive. Sarkozy said he would consider capping salaries for senior bank executives. He also said there will be no bonuses this year at banks that received government help.

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