Professor Harney voices concern over banking bonuses
‘Survival of the greediest: The 2009 bonus scandal’
The Sunday Times – Business p.5
School of Business and Management: Professor Stefano Harney
Investment bank Goldman Sachs announced third quarter results of bumper profits last week and has set aside millions for staff bonuses. Professor Harney says the bank has profited from the ‘socialising of losses’, having received state funding and gambling heavily on their recovery. He said: “There is a question of whether these results ... are enhanced by the taxpayer. The taxpayer ultimately is the investor who ought to be reaping the results and getting the bonuses this year.”
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