MM Lee said in April 2007:-
"........you have to pay market rate or the man will up stakes and join Morgan Stanley, Lehman Brothers or Goldman Sachs and you would have an incompetent man and you would lose money by the BILLIONS....!!!!!"
So what happen to Morgan, Lehman and Goldman? Sold, bankrupt or merged, all mismanaged by very well paid, highly intelligent greedy CEO and senior executives who gambled on risky investments to generate profits to justify their indecent bonuses. They should be made to cough up their ill gotten gains to help the economy back on its feet instead of squeezing blood out from the taxpayer!
So, pay market rate to get monkeys? There is a vast difference in renumeration between the senior executives and the ordinary workers in corporate America and this disease of greed spread to the rest of the world. These executives are paid in the millions to lose billions!