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You’ve heard of pay-for-play, right? How about pay-for-pay? Here’s an idea that seems to make some sense. Don’t limit Wall Street pay and bonuses, but require higher FDIC premium payments if a bank’s pay structure is deemed to be “risky”, such as incentive bonuses for writing more loans (which leads to bankers writing riskier loans). [...] Now I know why the A-Train hates Goldman Sachs so much … looks like all the Goldman alums in guv-mint decided to give them a bigger break than they gave Morgan Stanley in determining worst-case scenarios in the recent stress tests performed by the Federal Reserve. Goldman’s Test Stresses Morgan Stanley Why did the stress [...] Individual Investors Pile Into Citi – WSJ.com The old Wall Street adage about the dangers of catching a falling knife doesn’t seem to be scaring individual investors away from Citigroup Inc. Some discount-brokerage firms report a surge of individual, or retail, investors buying shares of Citigroup during the past five months, amid the New York [...] Geithner Sets Out Sweeping Overhaul to Bank Bailout – NYTimes.com WASHINGTON — The White House plan to rescue the nation’s financial system, announced on Tuesday by Timothy F. Geithner, the Treasury secretary, is far bigger than anyone predicted and envisions a far greater government role in markets and banks than at any time since the [...] The return of economic nationalism | The Economist MANAGING a crisis as complex as this one has so far called for nuance and pragmatism rather than stridency and principle. Should governments prop up credit markets by offering guarantees or creating bad banks? Probably both. What package of fiscal stimulus would be most effective? It varies [...] CNN Political Ticker: Porn industry seeks federal bailout WASHINGTON CNN — Another major American industry is asking for assistance as the global financial crisis continues: Hustler publisher Larry Flynt and Girls Gone Wild CEO Joe Francis said Wednesday they will request that Congress allocate $5 billion for a bailout of the adult entertainment industry. “The [...] A-train railing against free-market realities. Okay, so it’s not truly a free market, but there are limits to what banks receiving funds under TARP can do; limits designed to protect the American taxpayer as a senior investor (the investments are in preferred securities after all), whilst not placing excessive limits on free-market flexibility for the [...] I am a big fan of David Liss‘s work, especially A Conspiracy of Paper, a historical mystery set during the the world’s first stock market crash, which will give some insight into what happened nearly 300 years ago, wrapped up in a story of pugilism and prostitution. And then, once you’ve finished A Conspiracy of [...] Perhaps this plan will make Art a little happier … but I’d like to read the actual text of the bill before I make any judgments. Democrats offer alternative ‘no bailouts act’ – CNN.com WASHINGTON (CNN) — A small group of Democratic House members put together an alternative to the $700 billion financial bailout measure [...] |
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