Wall Street seems to be working again

Posted by Marc Hodak on May 25, 2009 under Executive compensation, Unintended consequences | Be the First to Comment

Damn those finance geeks.  The government imposed restrictions on their bonuses, and they turned around and increased their salaries.  Who could have predicted that?

It’s as if Wall Street has this mysterious knowledge about the ability of value to be transformed into different kinds of financial claims, and that these claims that can be traded across time…and stuff.  Where does this mysterious knowledge come from?