Christina Romer: Big Bank Bonuses 'Outrageous

[ASusilovic]

With big banks poised to hand out record bonuses this year, the President’s top economist told me she is hopeful that financial institutions will show some restraint, but with a shake of her head, she indicated she’s not that hopeful. Dr. Christina Romer, Chair of the White House Council of Economic Advisers said, “We've provided extraordinary aid, and the -- and the idea that, as the financial system heals, they just go back to business as usual is -- is simply outrageous.”

Romer said the administration would redouble its efforts on financial regulatory reform that would give shareholders more say in setting executive compensation. “For heaven's sakes, compensation should be focused on -- on long term, so that you don't have rewards for short-term risk-taking. And we just simply have to put in place rules of the road so that this system doesn't bring the economy to the edge of collapse like it did a year or so ago.”

http://blogs.abcnews.com/george/2010/01/romer-big-bank-bonuses-outrageous.html

 

[scriabinop23]

Free market capitalism never had anything do with fair. She knows that.

 

[pspr]

I see Dr. Christina Romer talk on TV regularly. I can only comment that everytime she speaks I am amazed at how stupid she is. Her daddy must have had lots of money for her to get where she is.

 

[nazzdack]

Quote from ASusilovic:
Dr. Christina Romer, Chair of the White House Council of Economic Advisers.....

She's posturing for her "next job" at GS, MS or JPM.

 

[Trader666]

What's outrageous is her stupidity... look at what she and Jared Bernstein came up with for "the Obama" early last year:

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2696442>

 

[Trader666]

P.S. Here's the paper that came from.

 

[ASusilovic]

Quote from Trader666:

P.S. Here's the paper that came from.

Will this be financed by a "banker tax" ? - as suggested here :

http://www.ft.com/cms/s/0/ae7a5ea2-fe29-11de-9340-00144feab49a.html

 

[nazzdack]

Quote from Trader666:
.......look at what she and Jared Bernstein came up with for "the Obama" early last year.....

....Regression to 5% before the 2012 election!

 

[Epiphany]

Quote from pspr:

I see Dr. Christina Romer talk on TV regularly. I can only comment that everytime she speaks I am amazed at how stupid she is. Her daddy must have had lots of money for her to get where she is.

Actually, she was my econ professor when I was back at Berkeley and has published numerous papers.

Being the trader that I am - I would definitely be going long her and short you.

 

[PlusMinus]

Quote from nazzdack:

She's posturing for her "next job" at GS, MS or JPM.

Wrong. Her next big job is at the Fed. As in the head thereof.