Warren Buffett rails against big bank executives
Warren Buffett is right on the money:
Buffett said there’s a simpler way to cap risk-taking: Forcing lavishly compensated CEOs to take responsibility for assessing the risks at their firms – and putting their own wealth at stake, to boot.
“It is the behavior of these CEOs and directors that needs to be changed,” he wrote. “They have long benefitted from oversized financial carrots; some meaningful sticks now need to be employed as well.”