A Call For Global Price-Fixing on Pay

http://www.futureofcapitalism.com/2009/12/a-call-for-global-price-fixing-on-pay

Wall Street Journal columnist James Stewart adds his name to those calling for governments to get together and set pay policies: "a coordinated global initiative is needed to curb excesses and deter the reckless risk-taking that got us here." Instead of allowing competition and experimentation, this "coordinated global initiative" would impose the same rules everywhere. When I noted that Senator Schumer was importing British-style regulation of the volume of television commercials, a reader commenter said it was "cute fear-mongering" about "importing EU law." But do we really want Brussels bureaucrats setting pay on Wall Street? That's more or less what a "coordinated global initiative" would mean.

by Editor  |  Dec 16, 2009 at 8:51 am Related Topics:  Banking, Capital Markets Regulation, Compensation, Europe, Press, Senator Schumer receive the latest by email: subscribe to the free futureofcapitalism.com mailing list