Sunday, August 07, 2005

CIBC/Hunkin Debacle of 2005

While discussing the recent events at CIBC and their close to 3 billion dollars in settlement payments with a colleague, it was pointed out to me that no one at CIBC (or any of the major banks for that matter) would be too quick to chase down Hunkin et al. in an attempt to have them return some (or all) of their recent bonus payments.

The reason my colleague gave was quite simple, it would set a precedent that others would be compelled to follow.....................no sense in setting the bar too high ya know.

I thought it was an interesting perspective (for what ever my thoughts are worth) .

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