Oct
17th
Sat
17th
Having saved the banking system from failure and taken a significant ownership stake in the system, the government is now interested in telling banks how much they should pay employees, how much leverage they should use, and how aggressive they should be in modifying mortgages. And since such proposals would influence profitability, Wall Street detests them. Bankers were put on this planet to take risk with other people’s money and pay bonuses. Once you remove those two arrows from their quiver, all the fun is gone.
