The Israeli Knesset passed one of the world’s toughest curbs on bank executives’ salaries to try to narrow a big gap between bosses’ and workers’ pay.
There was a little business story in today’s Haaretz that you probably overlooked. It’s a real eye-opener. It’s about steps being taken by Israeli Prime Minister Netanyahu to reform the regulation of the finance industry. But what it’s really about is how a determined political system can stop bankers from taking over, wrecking the economy and ruining everyone else’s lives.