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End Bonuses for Bankers
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A former Wall Street trader says banning bonuses for investment bankers would take out much of the risk in the financial system. The current system is different from the one he joined as an intern in the 1980's, he says. At that time banking was a bland business, where the head of a financial firm made about the same as a junior trader makes nowadays. Large bonuses of today were rare at the time. What large incentives to take risk in the form of bonuses do is to encourage extreme risk taking, especially when the downside or pain as a consequence of these decisions is passed on to other individuals or institutions, or the government.
Bonuses and executive compensation in the U.S.- 2010-2013
02/04/2009
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Britain leads the way in requiring more liquidity at banks and in getting agreement to limit bonuses.
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Executive compensation and bonuses in the UK: 2010-2013
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Grouped Articles
SEC Wants Boss-Employee Pay Gap on Display
Wall Street Journal 09/19/2013
Wall Street Journal 10/31/2013
Wall Street Bonuses Are an Outrage
Wall Street Journal 02/04/2009
The U.K.'s New Bonus Claw Back Rules
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Wall Street Journal 01/10/2011
On Street, Pay Vaults to Record Altitude
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Germany's action against bank bonuses.
02/04/2009
Eleven financial institutions agree to voluntarily limit bonuses.
Grouped Articles
Wall Street Journal 10/31/2013
Wall Street Bonuses Are an Outrage
Wall Street Journal 02/04/2009
U.K. Bankers to Wait Seven Years for Bonuses
Wall Street Journal 06/24/2015
The U.K.'s New Bonus Claw Back Rules
Wall Street Journal 06/24/2015
British Regulators Extend Clawback Rules for Bankers’ Pay
New York Times 06/23/2015
Wall Street Journal 12/11/2009
Negotiations at the G-20 in Pittsburgh on capital requirements for banks and limits on bank bonuses.
02/04/2009
The Pittsburgh G-20 talks will address these issues with European and Americans coming up with some compromise.
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IMF Urges EU Banks To Raise Capital
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New York Times 02/02/2012
Wall Street Bonuses Are an Outrage
Wall Street Journal 02/04/2009
U.K. Bankers to Wait Seven Years for Bonuses
Wall Street Journal 06/24/2015
The U.K.'s New Bonus Claw Back Rules
Wall Street Journal 06/24/2015
Return to business as usual in the banking sector with pay and other practices..
08/23/2009
The administration's reluctance to back up the Fed's efforts to cap bonuses and compensation in banking.
Grouped Articles
SEC Wants Boss-Employee Pay Gap on Display
Wall Street Journal 09/19/2013
U.K. Bankers to Wait Seven Years for Bonuses
Wall Street Journal 06/24/2015
The U.K.'s New Bonus Claw Back Rules
Wall Street Journal 06/24/2015
British Regulators Extend Clawback Rules for Bankers’ Pay
New York Times 06/23/2015
Hatoyama Outlines Need for Regulation
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Mozilo Filing Says SEC Distorts Charges in Suit
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The bad side of incentive based executive compensation
12/31/2008
Executive pay and bonuses are paid based on incentives to produce good performance. But the parameters that measure performance such as share price can be manipulated resulting in a perverse sytem that incentivizes bad decisions costly to the company even while executives are earning large or grossly disproportionate pay and bonuses. This happened at Merrill Lynch, Citigroup and other financial firms that collapsed or reached the brink of collapse.
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SEC Wants Boss-Employee Pay Gap on Display
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S.E.C. Proposes Greater Disclosure on Pay for CEO's
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Wall Street Bonuses Are an Outrage
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Does Golden Pay for the CEOs Sink Stocks?
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UK banks- bonuses and tax levy
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Grouped Articles
Wall Street Journal 10/31/2013
Wall Street Bonuses Are an Outrage
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U.K. Bankers to Wait Seven Years for Bonuses
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The U.K.'s New Bonus Claw Back Rules
Wall Street Journal 06/24/2015
British Regulators Extend Clawback Rules for Bankers’ Pay
New York Times 06/23/2015
Banks in U.K. Hit With Higher Tax
Wall Street Journal 02/09/2011
Bonuses and executive compensation in EU countries
12/15/2010
Grouped Articles
SEC Wants Boss-Employee Pay Gap on Display
Wall Street Journal 09/19/2013
Wall Street Journal 10/31/2013
The U.K.'s New Bonus Claw Back Rules
Wall Street Journal 06/24/2015
Ireland Orders Allied Irish to Hold Bonuses
Wall Street Journal 12/15/2010
U.S. Considers New Push on Bank Pay
Wall Street Journal 12/19/2010
UBS Makes Bid to Increase Bonus Pool
Wall Street Journal 02/04/2011
Britain's actions against bank bonuses.
02/04/2009
Alistair Darling announced immediately effective step of taxing bank bonus pools with a 50% tax.
Grouped Articles
Wall Street Journal 10/31/2013
Royal Bank of Scotland to Slash Costs as Losses Deepen
Wall Street Journal 02/28/2014
Bailed-Out Royal Bank of Scotland Sees Years of Losses
New York Times 02/27/2014
Wall Street Bonuses Are an Outrage
Wall Street Journal 02/04/2009
In U.K., Getting Tough With Nationalized Banks
Wall Street Journal 02/09/2009
U.K. Bankers to Wait Seven Years for Bonuses
Wall Street Journal 06/24/2015
France's action against bank bonuses.
02/04/2009
Grouped Articles
Wall Street Journal 10/31/2013
Wall Street Bonuses Are an Outrage
Wall Street Journal 02/04/2009
U.K. Bankers to Wait Seven Years for Bonuses
Wall Street Journal 06/24/2015
The U.K.'s New Bonus Claw Back Rules
Wall Street Journal 06/24/2015
British Regulators Extend Clawback Rules for Bankers’ Pay
New York Times 06/23/2015
France Joins U.K. Bonus Tax; Not Germany, U.S.
Wall Street Journal 12/11/2009
Goldman Sachs CEO Blankfein.
10/10/2009
Goldman and its CEO continue to be unpopular with a public that is unhappy with the government help to the banks. Large bonuses make the situation even worse.
Grouped Articles
Goldman Bets Less and Takes Hit
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Wall Street Journal 07/23/2013
Senior Executives at Goldman Had a Role in Mortgage Unit
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Wall Street Journal 04/20/2010
Exit Shows Blankfein Still Rows Goldman
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A Moot Effort to Burnish the Reputation of Goldman Sachs
New York Times 10/23/2013
New rules for bonuses and executive compensation in the US: 2010-2012
02/04/2009
Grouped Articles
SEC Wants Boss-Employee Pay Gap on Display
Wall Street Journal 09/19/2013
Wall Street Bonuses Are an Outrage
Wall Street Journal 02/04/2009
The U.K.'s New Bonus Claw Back Rules
Wall Street Journal 06/24/2015
Big Banks Confront New Bonus Onus
Wall Street Journal 02/08/2011
Wall Street Journal 03/18/2011
A Question of Trimming Pay at Goldman Sachs - Breakingviews
New York Times 10/06/2011
Reward systems, moral fabric, ideas of responsibility, and the functioning of the system that governs economic activity in America.
05/13/2008
Media hype that promotes bubble behaviour, retention payments andd bonuses for executives, a general deterioration across the board at all levels and in all parts of society of the idea of responsible behaviour and morally acceptable behaviour, and how this corrodes the whole fabric of the system that governs economic activity in America.
Grouped Articles
SEC Wants Boss-Employee Pay Gap on Display
Wall Street Journal 09/19/2013
S.E.C. Proposes Greater Disclosure on Pay for CEO's
New York Times 09/18/2013
Wall Street Bonuses Are an Outrage
Wall Street Journal 02/04/2009
New Rules Curbing Wall Street Pay Proposed
Wall Street Journal 04/22/2016
Many Hispanics Are Hit Hard by Economic Slump
New York Times 05/13/2008
New York Times 02/13/2009
The European Union leaders insistence on pay curbs to prevent reckless risk taking 2011-2012
02/04/2009
Sarkozy of France and Merkel of Germany insist that pay curbs for bankers be high on the agenda for the G20 meeting in Pittsburgh. They are particularly riled by the huge bonuses bankers are taking in the midst of the continuing financial crisis.
Grouped Articles
Wall Street Journal 10/31/2013
Royal Bank of Scotland to Slash Costs as Losses Deepen
Wall Street Journal 02/28/2014
Wall Street Bonuses Are an Outrage
Wall Street Journal 02/04/2009
U.K. Bankers to Wait Seven Years for Bonuses
Wall Street Journal 06/24/2015
The U.K.'s New Bonus Claw Back Rules
Wall Street Journal 06/24/2015
British Regulators Extend Clawback Rules for Bankers’ Pay
New York Times 06/23/2015
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