mgv11

A Solution for Wall Street Compensation

Carney underestimates the self serving nature of men/investment banking and has now succesfully dragged you down his path. As an accountant cfo we have to interpret rules and we base our decisions on some formal citation to cya ourselves. Bankers are no different, they have their own self interest in mind within some interpretation of the rules. Once the rules were relaxed they found the loopholes and then proceeded to be surprised by the implosion. They were within the law of the land that was enabling them to enrich themselves. If you take out commissions and bonus based on a commission structures they will look at their jobs differently than they do now. Will they be wrong again, certainly... will being wrong be as profitable for them, I would hope not. My hopes would be that caution would factor itself back into how they run their shops vs throwing caution to the wind.