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FED PLANS TO VET BANKER PAY TO DISCOURAGE RISKY PRACTICES
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10-27-2009 1:00 AM
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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/40b8a0a5-7827-4001-80c5-839454e22fc4/346C5DE9-D6D6-448C-832F-5C2CE40630C2/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.nytimes.com/2009/10/23/business/23pay.html?_r=1&th&emc=th#" href="http://www.nytimes.com/2009/10/23/business/23pay.html?_r=1&th&emc=th#" style="font-size: 11px;">www.nytimes.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/10/23/business/23pay.html?_r=1&th&emc=th#"><NYT_HEADLINE type=" " version="1.0"> Fed Plans to Vet Banker Pay to Discourage Risky Practices </NYT_HEADLINE></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/10/23/business/23pay.html?_r=1&th&emc=th#"><div align="center"><img src="http://content6.clipmarks.com/blog_cache/www.nytimes.com/img/60027344-4C1D-498F-B385-F6A93E8CA2B6" alt="" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/10/23/business/23pay.html?_r=1&th&emc=th#"><P class="caption"> The Federal Reserve chairman, Ben S. Bernanke, said some banks had “misaligned incentives.” </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/10/23/business/23pay.html?_r=1&th&emc=th#"><div align="center"><img src="http://content7.clipmarks.com/blog_cache/www.nytimes.com/img/A2D440F4-8276-4F3E-B56F-C939B19EA4F0" alt="Obama on Pay Limits at Banks (CNBC)" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/10/23/business/23pay.html?_r=1&th&emc=th#"><H2> <A href="http://video.nytimes.com/video/2009/10/22/business/economy/1247465312879/obama-on-pay-limits-at-banks-cnbc.html">Obama on Pay Limits at Banks (CNBC)</A> </H2></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/10/23/business/23pay.html?_r=1&th&emc=th#"><div align="center"><img src="http://content8.clipmarks.com/blog_cache/www.nytimes.com/img/94AE70B7-F85C-4AA1-A830-B755E2A00029" alt="Feinberg on Pay Cuts at Big Banks (CNBC)" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/10/23/business/23pay.html?_r=1&th&emc=th#"><H2> <A href="http://video.nytimes.com/video/2009/10/22/business/1247465319664/feinberg-on-pay-cuts-at-big-banks-cnbc.html">Feinberg on Pay Cuts at Big Banks (CNBC)</A> </H2></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/10/23/business/23pay.html?_r=1&th&emc=th#"><div align="center"><img src="http://content9.clipmarks.com/blog_cache/www.nytimes.com/img/A92BF36C-FFEC-42C3-A948-C9000ECFD727" alt="Document Reader: Plan to Curb Banker Pay" /></div></blockquote><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content6.clipmarks.com/images/clip-icon.gif" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://graphics8.nytimes.com/bcvideo/1.0/iframe/bcArtIframe.html?z=0&videoId=1247465316304&pageSection=business" href="http://graphics8.nytimes.com/bcvideo/1.0/iframe/bcArtIframe.html?z=0&videoId=1247465316304&pageSection=business" style="font-size: 11px;">graphics8.nytimes.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://graphics8.nytimes.com/bcvideo/1.0/iframe/bcArtIframe.html?z=0&videoId=1247465316304&pageSection=business"><DIV class="bc_linkContainer"> <DIV class="bc_videoLink"><A target="_blank" href="http://video.nytimes.com/">VIDEO</A><IMG alt="arrow" src="http://graphics8.nytimes.com/images/video/bc_videoArrow.gif" /></DIV> <DIV class="bc_MoreMultimediaLinks"> <SPAN><A target="_blank" href="http://video.nytimes.com/">More Video</A></SPAN> <SPAN> | </SPAN> <SPAN><A target="_blank" href="http://nytimes.com/pages/multimedia/">Multimedia</A><IMG alt="arrow" src="http://graphics8.nytimes.com/images/video/bc_multiArrow.gif" /></SPAN> </DIV> </DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://graphics8.nytimes.com/bcvideo/1.0/iframe/bcArtIframe.html?z=0&videoId=1247465316304&pageSection=business"></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://graphics8.nytimes.com/bcvideo/1.0/iframe/bcArtIframe.html?z=0&videoId=1247465316304&pageSection=business"><DIV id="bc_infoTitle">The Fed Outlines Plans to Vet Banker Pay</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://graphics8.nytimes.com/bcvideo/1.0/iframe/bcArtIframe.html?z=0&videoId=1247465316304&pageSection=business"><DIV id="bc_infoDesc">The Federal Reserve announced a plan to scrutinize pay packages at banks and deter rewards for reckless pursuit of short-term profits.</DIV></blockquote><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content7.clipmarks.com/images/clip-icon.gif" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.nytimes.com/2009/10/23/business/23pay.html?_r=1&th&emc=th#" href="http://www.nytimes.com/2009/10/23/business/23pay.html?_r=1&th&emc=th#" style="font-size: 11px;">www.nytimes.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/10/23/business/23pay.html?_r=1&th&emc=th#"><div align="center"><img src="http://content8.clipmarks.com/blog_cache/www.nytimes.com/img/27042B8C-8F22-4473-BA5F-ACC28F61A0D9" alt="" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/10/23/business/23pay.html?_r=1&th&emc=th#"><P>WASHINGTON — The <A title="More articles about the Federal Reserve System." href="http://topics.nytimes.com/top/reference/timestopics/organizations/f/federal_reserve_system/index.html?inline=nyt-org">Federal Reserve</A> announced Thursday that it would crack down on pay packages that encouraged bankers to take excessive risks, but officials acknowledged that the plan might not reduce the biggest paychecks on Wall Street. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/10/23/business/23pay.html?_r=1&th&emc=th#">While unlikely by itself to end the practice of lavish compensation, the Fed’s plan is one of the most far-reaching responses yet to last year’s <A title="More articles about the credit crisis." href="http://topics.nytimes.com/top/reference/timestopics/subjects/c/credit_crisis/index.html?inline=nyt-classifier">financial crisis</A>. It will subject executives, traders,</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/10/23/business/23pay.html?_r=1&th&emc=th#"> deal makers and other employees of the biggest banks</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/10/23/business/23pay.html?_r=1&th&emc=th#">to regulatory scrutiny</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/10/23/business/23pay.html?_r=1&th&emc=th#">of their compensation </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/10/23/business/23pay.html?_r=1&th&emc=th#">and represent</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/10/23/business/23pay.html?_r=1&th&emc=th#">another increase</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/10/23/business/23pay.html?_r=1&th&emc=th#">in government</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;"> </td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/346C5DE9-D6D6-448C-832F-5C2CE40630C2/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>
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