Frederic Lefebvre, about the Stock Options-abandoned by the executives of Société Générale:
“Today when policies emit conditions, when public opinion is taken to witness, people can not do anything, and that I think it is an evolution of our society that is important.”
Indeed, as politicians are forced to play the opinion against banks to get bankers to give up their variable compensation, this is a dramatic development in our society.
It illustrates exactly who, from the political or the economic, now has the power.
It shows the inefficiency of the policy alone, unable to imagine a bailout mechanism for banks that requires counterparties.
Inefficiency, even incompetence, which then forces the policy to mount the French against the companies.
Two weeks ago, Wauquiez vs. Total. And this weekend, Lagarde & Co vs. Societe Generale.
In the end, in the media, in the minds of people: these companies are rotten, their leaders are thieves. And we, Wauquiez, Lagarde, Lefebvre, are with you.