Ruth Sunderland on “BankThink”

From today’s Observer:

“BankThink maintains that curbing bonuses will lead to a brain drain from the (banking) sector. What brains are those? I guess it must be the great intellects who can’t see a problem with creating the credit crunch, then asking taxpayers on the average income (about £25,000 – a year, not an hour) to fund their bonuses. Adherents to BankThink say big bonuses attract the best people. They don’t: they attract the soulless, the amoral and the avaricious. Professions such as teaching and medicine – and, yes, politics – draw in excellent practitioners without ludicrous rewards.”