Warum die Bezahlung im Finanzsektor nicht dem Markt überlassen werden sollte

CAMBRIDGE – Obwohl einige Finanzunternehmen die Bezahlungsmechanismen für ihre Angestellten reformieren, ziehen Regierungen rund um die Welt ernsthaft in Betracht, die Vergütungsstrukturen solcher Firmen zu regulieren. Der Basler Ausschuss für Bankenaufsicht hat sich vor Kurzem für solche Vorschriften ausgesprochen, und das Repräsentantenhaus der Vereinigten Staaten hat dafür gestimmt, von den Regulierungsbehörden die Festsetzung von Vergütungsbestimmungen zu verlangen.

Vielleicht überrascht es nicht, dass viele Finanzbosse über derartige Schritte in heller Aufregung sind. Sie behaupten, sie bräuchten die Freiheit, Vergütungspakete festzulegen, um ihre talentiertesten Leute zu halten – diejenigen, die das Finanzsystem der Welt wiederbeleben werden. Sollten die Regierungen sich also zurückziehen und die Finanzunternehmen sich selbst reformieren lassen?

Die Antwort ist ein klares Nein. In der Finanzordnung nach der Krise müssen die Regierungen die Rolle übernehmen, die Bezahlung in Finanzunternehmen zu überwachen und zu regulieren; andernfalls könnten die perversen Anreize, die zur aktuellen Krise beigetragen haben, leicht wiederkehren.

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