Month: September 2008
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Getting Wall Street Pay Reform Right
There’s mounting talk on Capitol Hill that a Wall Street bailout will include some limits on executive compensation, as well as contradictory reports about whether a deal on controlling executive pay has already been reached. Four days ago, such a move seemed very unlikely. But the pushback from Congress — from both Democrats and Republicans…
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The Financial Crisis: How and Why Congress Should Play for Time
Here’s the situation: Thanks to its own inability to control itself, Wall Street is now facing a crisis unmatched since the Great Depression. Unfortunately, a collapse of the financial sector would not only hurt rich investors, it would devastate the global economy. So, government action is imperative. Treasury Secretary Henry Paulson and Federal Reserve Chair…
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The Financial Re-Regulatory Agenda
As the Federal Reserve and Treasury Department careen from one financial meltdown to another, desperately trying to hold together the financial system — and with it, the U.S. and global economy — there are few voices denying that Wall Street has suffered from “excesses” over the past several years. The current crisis is the culmination…