Well, those responsible were plain to see – a phalanx of UBS chief executives in expensive suits, on a raised dais, bathed in spotlights. It was not the best public relations image.
The Swiss know that UBS bosses earned among the highest salaries in Europe. Added to that were huge bonuses which they continued to award themselves even as the financial crisis unfolded.
I think there is more irony than humor and like everyone I am also wondering, when will all this end. I would also be very curious to see if there is a fundamental change in the executive salary structure by the time this crisis has played itself out.