Why have bankers salaries ballooned? Eduardo Porter
, an economics writer and member of the editorial board of the New York Times, addresses this issue with an eye on nature and a biting humor. As he puts it, the biggest bull elephant seals beat out lesser bull elephant seals, winning the harems and passing on their genes to future elephant seal generations. Over time the population gets bigger and fatter, and eventually the big bulls become easier dining for the swifter great white sharks
, which are among nature’s greatest predators. So as Wall Street views it, humongous pay packages for top bankers grow from competition among big banks and the most enterprising executives. Read Porter’s March 9 column "On the Origins of Bankers’ Giant Bonuses”
to learn why he thinks seals and human society would benefit if bull elephant seal blubber and bankers salaries were trimmed. Click here
to learn more about the elephant seals. These extraordinary marine mammals spend most of the year in open ocean and migrate thousands of miles. Despite the seals' greater bulk and slower speed, the great white sharks can’t eat them unless they find
them in that vast and deep watery expanse. Elephant seals are no longer endangered
, although at onetime they were seriously over-hunted for their oil. Great white sharks
are endangered. Bankers are not.