Getting Financial Incentives Right Through Government Regulation of Finance Compensation
Gene Sperling on Financial Industry Executive Compensation:
Opening Statement before the U.S. House of Representatives Committee on Financial Services.
As I have said many times, shareholders ought to have fixed the problem that the financial-sector compensation system has systematically fed Wall Street hotshots the wrong incentives via short-term options-based compensation packages.
But shareholders haven't. And the problem is serious enough and has bad enough consequences for the rest of us that we need to fix it.
