GARY M. FEINMAN – The New Gilded Age, wars along the Russian border, a global pandemic, battles for women’s rights, even the Titanic: history does rhyme with the present. Yet as former New York Times columnist Bob Herbert once observed: “If history tells us anything, it’s that we never learn from history.”
Tag: North America
Are Banks Soft-Pedaling Clawbacks?
DAVID MCCANN – At a time when news of banking scandals is uncomfortably frequent, a new report says that last year only 17% of global banking organizations “clawed back†compensation payments previously made to employees. The survey of financial-services institutions by the consulting firm Mercer was not expansive, with only 42 banks participating (in addition to 18 insurance companies and three other types of firms). Still, the results may suggest that regulators are not achieving the objectives of their persistent calls for banks to implement clawback policies.