England has been joined by France in slapping a supertax on bank bonuses in an effort to push other countries, including the U.S., do so likewise. Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law and former counsel to the Fed Board of Governors, says it’s disgaceful the United States didn’t lead the way.
“In this country, we should be having a debate about recouping bonuses paid to executives and traders in the years leading up to the financial melt-down. Instead, we condone lavish rewards to the leaders of the very firms that owe their continued existence to taxpayer generosity.”
Contact Cornelius Hurley, 617-353-5427, firstname.lastname@example.org