How to fix bankers' pay

Daedalus

Volumn 139, Issue 4, 2010, Pages 52-60

  Bebchuk, Lucian A ^a  

^a NONE

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[No Author keywords available]

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EID: 78049404811     PISSN: 00115266     EISSN: 15486192     Source Type: Journal    
DOI: 10.1162/DAED_a_00042     Document Type: Article

References (19)

1. See Leaders' Statement: The Pittsburgh Summit, September 24-25, http://www.pittsburghsummit.gov/mediacenter/129639.htm.
2. Lucian A. Bebchuk and Jesse M. Fried, Paying for Long-Term Performance,University of Pennsylvania Law Review 58 (2010): 1915-1960
3. Lucian A. Bebchuk and Holger Spamann, Regulating Bankers' Pay, Georgetown Law Journal 98 (2) (2010): 247-287
4. Lucian A. Bebchuk, Fixing Bankers' Pay, The Economists' Voice (November 2009).
5. Lucian A. Bebchuk, written testimony, hearing on compensation in the financial industry, January 22, 2010, Committee on Financial Services, U.S. House of Representatives
6. Lucian A. Bebchuk, written testimony, hearing on compensation structures and systemic risk, June 11, 2009, Committee on Financial Services, U.S. House of Representatives.
7. Lucian A. Bebchuk and Jesse M. Fried, Pay without Performance: The Unfulfilled Promise of Executive Compensation (Cambridge, Mass.: Harvard University Press, 2004).
8. Jeffrey Friedman, Bank Pay and the Financial Crisis,The Wall Street Journal online, September 28, 2009
9. Floyd Norris, It May be Outrageous, But Wall Street Pay Didn't Cause this Crisis,The New York Times, July 31, 2009.
10. Lucian A. Bebchuk, Alma Cohen, and Holger Spamann, The Wages of Failure: Executive Compensation at Bear Stearns and Lehman 2000 -2008,Yale Journal on Regulation 27 (2010): 257-282.
11. All dollar figures are in 2009 dollars.
12. Bebchuk and Fried, Paying for Long-Term Performance.
13. Carr Bettis, John Bizjak, and Swaminathan Kalpathy, Insiders' Use of Hedging Instruments: An Empirical Examination, unpublished manuscript (March 2010), http://ssrn.com/abstract=1364810.
14. See testimony of Kenneth R. Feinberg, the Special Master for tarp Executive Compensation, before the House Financial Services Committee, February 25, 2010, http://www.ustreas.gov/press/releases/tg565.htm.
15. Feinberg reports that one of the principles incorporated in evaluating pay at subject firms was that employees should be prohibited from engaging in any hedging, derivative or other transactions that undermine the long-term performance incentives created by a company's compensation structures.
16. Bebchuk and Spamann, Regulating Bankers' Pay.
17. Lucian A. Bebchuk, The Case for Increasing Shareholder Power,Harvard Law Review 118 (2005): 833-914
18. Lucian A. Bebchuk, Letting Shareholders Set the Rules, Harvard Law Review 119 (2006): 1784-1813
19. Lucian A. Bebchuk, The Myth of the Shareholder Franchise,Virginia Law Review 93 (2007): 676-732