E.U. official rightly criticizes American banking practices

[Dot Com]

Allowing bankers to reward themselves in the short-term, at the expense of companies long- term viability, just isn't good policy. We found that out in 2007

EU regulator criticizes US on bankers’ bonuses - The Boston Globe​

“As you may recall, we implemented Basel II already in 2006,’’ Barnier wrote in a letter, which was reported earlier by The Financial Times. “It is essential to respect the deadlines agreed last year.’’

Barnier also criticized the US approach to restrictions on bonuses as leaving “too much latitude’’ for financial institutions to “circumvent globally agreed principles.

“I think you agree with me that bankers’ bonuses is a matter that continues to cause public outrage,’’ Barnier wrote. “Getting this matter right is key to restoring our citizens’ confidence in the financial system — and ultimately — their confidence in the public authorities regulating the financial institutions.’’

The ideologues, of course, will differ on this.

 

[editec]

The story of the swindle is so very complex (and VERY specific) that it takes hundreds of thousands of words to even begin to describe it.

All this idealogical blather we post here doesn't even begin to make sense of it.

It is not about an ISM of any kind.

Its about bad governance working on behalf of very smart and very amoral people who ddn't give a rat's ass about you or me or this nation, either.

 

[Dot Com]

With all the incessant bitching about the economy, one would think there'd be an outcry for implementing these agreed upon guidelines. Sadly, the U.S. Congress (both sides of the aisle) receive lobbyist money from those they are supposed to be regulating. BTW- is it any wonder its taking as long as it is to get out of the 2nd worst downturn in U.S. history? Anyone who says we should've been outta the woods by now is either naive or wanting to score cheap political points. How many years did it take to get out of the Great Depression? More than three.

EU regulator criticizes US on bankers’ bonuses - The Boston Globe

The United States and other major economies agreed at the Group of 20 meeting in Pittsburgh in 2009 to find ways to limit incentives for excessive risk-taking, which was partly blamed for the financial crisis.

 

[Mad Scientist]

International Bankers saddle us with 1.5 Quadrillion (One Thousand Five Hundred Trillion) in made up debt but I'm supposed to be worried about how much they get in bonuses?