Pay cuts should not be limited to Wall St–Warren

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Published in Reuters November 6, 2009

Reforms that remove short-term financial incentives from compensation packages should not be limited to the banking sector, a top U.S. government watchdog said on Friday.
Elizabeth Warren, who chairs a congressional oversight panel for TARP, the Treasury’s $700 billion financial bailout program, told Reuters television that the problem of misaligned incentives was hardly restricted to finance.
“In my view, it’s not just lower pay on Wall Street, there’s a larger corporate governance issue at stake here,” said Warren.

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