{"id":232,"date":"2009-09-18T07:32:00","date_gmt":"2009-09-18T11:32:00","guid":{"rendered":"http:\/\/www.intuitiveinvestor.com\/web\/?p=232"},"modified":"2018-08-23T09:07:36","modified_gmt":"2018-08-23T13:07:36","slug":"woohoo-federal-reserve-plans-to-curb-banker-pay","status":"publish","type":"post","link":"https:\/\/jasonapollovoss.com\/web\/2009\/09\/18\/woohoo-federal-reserve-plans-to-curb-banker-pay\/","title":{"rendered":"Woohoo, Federal Reserve plans to curb banker pay"},"content":{"rendered":"<p><span style=\"font-size: 16px;\">I was at a Borders bookstore recently when I saw an interesting title for a bio of FDR: &#8220;Traitor to His Class.&#8221; That aptly describes me when it comes to the ridiculous and outsize pay packages that Wall Street has notoriously awarded for decades. Now the Federal Reserve wants to rein that pay in. <span id=\"SPELLING_ERROR_0\" class=\"blsp-spelling-error\">Woohoo<\/span>!<\/span><\/p>\n<p><span style=\"font-size: 16px;\">As proposed the Fed would be able to reject compensation packages that encourage bank executives to take too much risk. This includes the pay of <span id=\"SPELLING_ERROR_1\" class=\"blsp-spelling-error\">CEOs<\/span>, asset traders, and loan officers. The Fed stops short of creating the pay packages. Instead, it is proposing that it be allowed to review, amend and reject bank pay packages.<\/span><\/p>\n<p><span style=\"font-size: 16px;\">It is estimated that the proposal will effect tens of thousands of bank employees. Further, it&#8217;s believed that the proposal will result in firms taking back compensation retroactively that was previously awarded if that pay was the result of excessive, and ultimately destructive, risk taking. Genius! As I have said since the inception of <span id=\"SPELLING_ERROR_2\" class=\"blsp-spelling-error\">ze<\/span> blog one of the core evils of our current version of capitalism is the way executives are compensated. Beyond the fact that the pay packages are gigantic, the packages also only reward success, but do not punish for failure. Essentially bankers are always playing with &#8220;house&#8221; money.<\/span><\/p>\n<p><span style=\"font-size: 16px;\">I will continue to track the progress of the proposal. In the meantime, know that it receives my endorsement.<\/span><\/p>\n<p><span style=\"font-size: 16px;\">Jason<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>I was at a Borders bookstore recently when I saw an interesting title for a bio of FDR: &#8220;Traitor to His Class.&#8221; That aptly describes me when it comes to the ridiculous and outsize pay packages that Wall Street has notoriously awarded for decades. Now the Federal Reserve wants to rein that pay in. Woohoo! [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-232","post","type-post","status-publish","format-standard","hentry","category-the-blog"],"_links":{"self":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts\/232","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/comments?post=232"}],"version-history":[{"count":0,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts\/232\/revisions"}],"wp:attachment":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/media?parent=232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/categories?post=232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/tags?post=232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}