Tagged: Wall Street

Wall Street’s record compensation

Despite fury over Wall Street’s pay culture, major banks and securities firms are headed toward a record compensation total of around $145 billion for 2009 when all the numbers are out.  Economics Professor Laurence Kotlikoff, a  senior economist in the Reagan administration whose new book, “Jimmy Stewart is Dead,” about the banking industry, will be […]

Wall Street CEOs ‘splain the crisis

CEOs of four big Wall Street Banks were summoned to Washington to explain to the new Financial Crisis Inquiry Commission what role their institutions played in the Crash of ’08.  At one point, Goldman Sachs’ CEO Lloyd Blankfein got blasted for likening some of the crisis to a hurricane or similar acts of God.  Law Professor Tamar […]

Wall Street whining about pay

With Washington’s “pay czar” setting limits for executives of bailed out Wall Street firms, five high-ranking execs at AIG reportedly are ready to quit if their compensation is cut significantly.  Law Professor Tamar Frankel, an authority on securities law and legal ethics, says maybe its time to both change the guard and change the mores […]

Breakthrough for shareholders

In an unprecedented move for a major business, HealthSouth Corp. will reimburse activist shareholders for the costs involved with unseating management-backed directors.  LawProfessor Elizabeth Nowicki, a former SEC and Wall Street attorney, says the HealthSouth initiative may mark a sea change in how boards respond to shareholders clamoring for accountability. “Now that HealthSouth has voluntarily […]

Banking compensation going back up

Despite the taxpayer bailouts and regulators pressuring Wall Street’s compensation culture, finance-industry pay is expected to push to a record high of $140 billion this year.  Former Federal Reserve Bank examiner Mark T. Williams, who teaches finance at the School of Management, says only emplyees that take low risks and make large profits should be rewarded. […]

Bob Bench comments on concerns of Wall Street as G20 meets

Regulating Wall Street

Word is leaking about about the Obama administration’s plan to regulate Wall Street, to be announced Wednesday.  School of Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law and a former Federal Reserve lawyer, can discuss the likely impact of the proposed changes. Contact Cornelius Hurley, 617-353-5427, ckhurley@bu.edu