More Government Control Than Originally Thought.
By
Randy-G
on October 24, 2009 at 11:08 am
Now they want control over any bank that is subject to federal regulation!
From the brilliant legal mind of William Jacobson @Legal Insurection,
According to the press release, the government proposes to monitor and, if need be, veto pay packages at any banking institution subject to federal regulation:
http://www.federalreserve.gov/newsevents/press/bcreg/20091022a.htm
Flaws in incentive compensation practices were one of many factors contributing to the financial crisis. Inappropriate bonus or other compensation practices can incent senior executives or lower level employees, such as traders or mortgage officers, to take imprudent risks that significantly and adversely affect the firm. With that in mind, the Federal Reserve’s guidance and supervisory reviews cover all employees who have the ability to materially affect the risk profile of an organization, either individually, or as part of a group.
This is an earth-shattering development in the annals of government control, yet because the information was released on a Friday, it has received little press attention relative to its importance.
It is frightening to think what an out of control government can do.
Please read it all,
http://legalinsurrection.blogspot.com/2009/10/most-monumental-power-grab-you-never.html
From the brilliant legal mind of William Jacobson @Legal Insurection,
According to the press release, the government proposes to monitor and, if need be, veto pay packages at any banking institution subject to federal regulation:
http://www.federalreserve.gov/newsevents/press/bcreg/20091022a.htm
Flaws in incentive compensation practices were one of many factors contributing to the financial crisis. Inappropriate bonus or other compensation practices can incent senior executives or lower level employees, such as traders or mortgage officers, to take imprudent risks that significantly and adversely affect the firm. With that in mind, the Federal Reserve’s guidance and supervisory reviews cover all employees who have the ability to materially affect the risk profile of an organization, either individually, or as part of a group.
This is an earth-shattering development in the annals of government control, yet because the information was released on a Friday, it has received little press attention relative to its importance.
It is frightening to think what an out of control government can do.
Please read it all,
http://legalinsurrection.blogspot.com/2009/10/most-monumental-power-grab-you-never.html
