Executive Pay and the Financial Crisis: A Refresher Course

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Published in The Wall Street Journal September 18, 2009

Wall Street has a conveniently short memory. Already, bankers and their backers are stewing over a proposal under which the Federal Reserve would micromanage compensation practices for financial types. “We’re all for more intelligent Wall Street compensation policies. But these should come from Wall Street, not Washington,’’ writes Henry Blodget, a former Wall Street analyst in his Clusterstock blog this morning.

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