Today’s NYT magazine has a long, well done interesting piece on Kenneth Feinberg, the government’s special master for executive compensation, titled What’s a Bailed-Out Banker Really Worth?.
Anytime I read a discussion on compensation, bonuses, and bailouts, I am astonished as to how much of the general discontent over these issues traces back to the original bailout.
The no strings attached giveaways, the refusal hold people accountable, the paniced over-reaction by Treasury and Fed chairs. All these factors led to the present situation.
Regardless, pour a tall cup of coffee and see Steve Brill’s take on this . . .
What’s a Bailed-Out Banker Really Worth?
NYT, December 29, 2009