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On the Origin of Bankers' Giant Bonuses

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At www.nytimes.com

Bankers prefer the elephant seal theory: the humongous bonus packages are essential to attract top executives who otherwise would be nabbed by a rival. Bailed-out bankers grumble that the pay caps imposed by the Obama administration will allow better-financed hedge funds to swoop down and poach the best from their ranks.

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At www.nytimes.com


 

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