Sarkozy's pay plan concerns market participants in U.S.

08/26/2009 | Bloomberg

Analysts and investors in the U.S. were alarmed by French President Nicolas Sarkozy's comments that his government will not hire financial firms that do not adhere to rules on compensation. "I find Sarkozy's statements threatening," said Bruce Foerster, president of South Beach Capital Markets. "He's coming to Pittsburgh and is going to be whispering in the ear of a president who has shown some willingness to listen to that kind of thinking. President [Barack] Obama has made a lot of scathing comments about banks and bankers' compensation."

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