Wait, What About Bankers' Pay?

[David Farber <dave () farber net>]

Begin forwarded message:

From: Matt Miller <mattmillernow () gmail com>
Date: June 30, 2010 6:45:12 PM EDT
To: dave () farber net
Subject: Wait, What About Bankers' Pay?
Reply-To: mattmillernow () gmail com

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Matt Miller's latest Washington Post column, fyi
We Must Ratchet Back Bankers' Pay
July 1, 2010
 
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
We must ratchet back bankers' pay
By Matt Miller

The Washington Post

Thursday, July 1, 2010 

If Sen. Scott Brown (R-Mass.) can manage to get last-minute tweaks into the financial reform bill, can't we still get 
something in that fixes banker compensation? Without changing the incentives facing the wizards who rule American 
finance, three thousand executives on Wall Street will leave the other 300 million of us holding the bag again before 
long.

The way pay is rigged at publicly owned Wall Street firms creates incentives for casino-style gambling, because bankers 
reap all the upside and stick shareholders or taxpayers with the losses. When their big bets go bad, in other words, 
top bankers walk away rich anyway. This is not how capitalism is supposed to work.

The most mind-bending example of this phenomenon was Howie Hubler...

Read the full column

http://www.washingtonpost.com/wp-dyn/content/article/2010/06/30/AR2010063003097.html?hpid=opinionsbox1

-------------------------------------------
Archives: https://www.listbox.com/member/archive/247/=now
RSS Feed: https://www.listbox.com/member/archive/rss/247/
Powered by Listbox: http://www.listbox.com