Page 17 - Compensation Structure News Today

you can blame the bankers that went wild. regulators that werent minding the store. >> what goes on behind closed doors on wall street? >> we stand strong, and on the other side well eat golden sludge. >> could it happen again? >> i dont think anybody realized that we were within a day away from a major international catastrophic and economic meltdown. >> james wood from "too big to fail," andrew ross sorkin, the man who wrote the book on the crisis. this is "piers morgan" tonight. g...

agencies. you can blame congress. you can blame the bankers that went wild. regulators that werent minding the store. >> what goes on behind closed doors on wall street? >> we stand strong, and on the other side well eat golden sludge. >> could it happen again? >> i dont think anybody realized that we were within a day away from a major international catastrophic and economic meltdown. >> james wood from "too big to fail," andrew ross sorkin, the man who wrote the book on the crisis. t...

>> you can blame greenspan. can you blame the rating agencies. you can blame congress. you can blame the bankers that went wild. regulators that werent minding the store. >> what goes on behind closed doors on wall street? >> we stand strong, and on the other side well eat golden sludge. >> could it happen again? >> i dont think anybody realized that we were within a day away from a major international catastrophic and economic meltdown. >> james wood from "too big to fail," andrew ros...

The second reason is that this compensation structure in which you get all of the upside but dont have that losses on the down side, if you have a really good year, you have a big bonus. if your firm loses money, there arent clawback provisions. that presents a lot of risk taking. the third thing is that its just fundamentally evisiates our system. these people were not making this because they were geniuses. >> what about that we as a society -- i know this is the oldest question in the book --...

Than other americans who collectively made $25 billion last year. like for instance 1,200,000 first-year privates in the u.s. army. not sure exactly how many chris h hayes you can buy for $25 billion, but tonight we have the one and only. >> quite a few. i come pretty cheap. >> lets start with the devils advocate. this is the american apeoples exhibit judge should the judge should why should the rest of us still be concerned about them? >> what ends up happening is that middle class goods, the k...

Americans who collectively made $25 million. one million, 225,000 first year privates. not sure how many you can buy with that much, but hes the editor of the magazine. thank you, chris. >> quite a few. i come cheap. start with the devils advocate. these people are rich people overpaying the financial advisors. why should the rest of us be concerned? >> theres three reasons. the first reason is that if you have the extreme inequality, the middle class goods that are the good middle class life,...

60 people will sign, i would have written it a little harsher myself. they called it wildly imprudent. we talked about coming back and creating a compensation structure that is really more consistent with the public mission. freddie mac and fannie mae, although theyre not officially debt of the federal government, theyre off balance sheet debt, and of course, weve seen the taxpayers have had to pail them out to the tune of over $140 billion so far. this is to me, it is i think most people would ...