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 â€œclawed backâ€ 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.
The Big Money Behind State Laws
NY TIMES EDITORIAL – It is no coincidence that so many state legislatures have spent the last year taking the same destructive actions: making it harder for minorities and other groups that support Democrats to vote, obstructing health care reform, weakening environmental regulations and breaking the spines of public- and private-sector unions. All of these efforts are being backed â€” in some cases, orchestrated â€” by a little-known conservative organization financed by millions of corporate dollars.