Government hits bank pay

In unprecedented moves, President Obama’s “pay czar” has put restrictions on compensation for top earners at the 7 biggest recipients of taxpayer bailout funds, while the Federal Reserve issued new guidelines to restrict pay practices at all banks to prevent excessive risk taking.  School of Management Professor James Post, an expert on corporate governance and business ethics, says the times are a-changin’.

“We are in a new era of financial reform and it’s clear that Wall Street’s ‘heads I win, tails I don’t lose’ mindset is going to be challenged by the White House, the pay czar, and ordinary Americans.”

Contact James Post, 617-353-4162, jepost@bu.edu

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