Bonus Battle
(Video) The Fed stepped up today with the US version of a worldwide backlash on bonuses for bankers. Led by French President Nicholas Sarkozy, this is another example of the G20 nations' rising power. Sarkozy is dragging a reluctant US along on his crusade to curb banker's pay. It only works if the whole world does it - and that could never have happened in the past, even though majorities of Americans have steam coming out of their ears over the obscene bonuses. Full Story »
Posted by Evelyn Messinger
As we were putting this story together, I thought that US financial news would ignore the movement towards curbing banker's bonuses. But the Fed is buying it, and so it is being reported...in the WSJ today, for starters.