By Kathryn Hopkins
One of the City’s leading figures has suggested that inequality created by bankers’ huge salaries is a price worth paying for greater prosperity.
In remarks that will fuel the row around excessive pay, Lord Griffiths, vice-chairman of Goldman Sachs International and a former adviser to Margaret Thatcher, said banks should not be ashamed of rewarding their staff.
Speaking to an audience at St Paul’s Cathedral in London about morality in the marketplace last night, Griffiths said the British public should “tolerate the inequality as a way to achieve greater prosperity for all”.
Continue reading Public Must Learn to ‘Tolerate The Inequality’ of Bonuses, Says Goldman Sachs Vice-chairman