But I think there is some overestimation of the experience required. You (Migeru) could certainly figure out "CDOs, SIVs, balance sheet leverage, and credit default derivatives just as easily as the idiots who created and trade this shit."
Also, I don't see why you need to create yet another welfare scheme for investment bankers. This is not to say that employee poachers as gamekeepers would not work, but the key is not that they need pay equity, they need political backing... which is the real problem... they need to know that they won't be sacked when Vikram Pandit or whomever calls their congressman to complain.
Certainly they should be paid well... but it doesn't have to be insane money...
LOL, I guess that's why I work in the Risk Division of a major international bank. (As you know, this means I'm a loser since winners all work as traders and make at least 6 figures) The brainless should not be in banking -- Willem Buiter
And you don't need to have them running around in Armani suits to make the industry they regulate treat them as first among equals. You just need to give them a really big stick and permission to make examples of a couple of putatively too big to fail businesses.
- Jake If you only spend 20 minutes of the rest of your life on economics, go spend them here.
