Monday, April 13, 2009

Top Talent Leaving Banks "Helped" by Government

An update on the Madness. As Instapundit says, "Surprise":

According to the banks and executive recruiters, hundreds of bankers have been jumping to Deutsche Bank and Credit Suisse, neither of which took a government bailout. They see a rare chance to upgrade talent and standing on Wall Street — and globally — by luring top minds who would not have considered moving from a Goldman Sachs or a Morgan Stanley in flush times. Now that their rivals must accept compensation limits and other restrictions that come with the use of taxpayer support, the foreign banks are finding more eager takers.
Yep, this will end well (Bnet). People responding to incentives. Imagine that.

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