Wednesday, April 8, 2009

The grownups can really get nasty...

Congressional Panel Suggests Firing Managers, Liquidating Banks -
"April 8 (Bloomberg) -- A congressional panel overseeing the U.S. financial rescue suggested that getting rid of top executives and liquidating problem banks may be a better way to solve the economic crisis."

from Seeking Alpha
Possible Lewis successors. Bank of America (BAC) CEO Ken Lewis has managed to hold on to his job thus far, but has signaled he could leave the bank as soon as the current crisis is over and at most within three years

Quotables. Calling for reforms to Wall Street pay and regulation, Goldman Sachs (GS) CEO Lloyd Blankfein said "we have to recognize a higher responsibility... to act like an owner responsible for the integrity of the system." Compensation practices "look self-serving and greedy in hindsight."

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