The Federal Reserve is moving to restrict compensation practices at the nation's banks, expanding its regulatory reach to oversee how tens of thousands of bank employees ranging from chief executives to loan officers are paid. Full Story »
Posted by Derek Hawkins - via Google News (Business), Washington Post
Other parts of the government are also addressing pay at financial firms. The Treasury Department is looking to prevent multimillion-dollar bonuses at firms that received government bailouts. And Congress is moving toward legislation aimed at giving shareholders more say over what senior executives are paid.
There should be no complaint nor surprise at regulations on bonuses or pay, as they did it to them selves.
I think that the regulations need to go far beyond the largest banks, when you consider the total dollars when added together that the smaller banks spend it is still a connected river of excess.