[quote=ltokuda]
My view is that greed rules. The reason why investment banks are NOT self-regulating is because they are comprised of individuals. A single fund manager would gladly see his firm go bankrupt if he could pocket a billion dollars in the process. An employee acting in his own self interest doesn’t mean he’s doing what’s best for the company. A company needs to make sure that the incentives of the employees are in line with its own well being.
Likewise, a business will gladly undermine America’s economy if the incentives were large enough. That’s just the way it is. So it is up to America to create an economic policy which aligns business interests with America’s interests. Unfortunately, these days, it seems like America is corporate owned so I’m not too hopeful that things will change for the better.
[/quote]
Bingo.
That’s one interesting idea from the article, which I hadn’t seen before. Let’s use our tax structure to promote American workers. But unless done correctly, this could backfire as well. After all, the few remaining American workers are on Wall Street. Which means the big banks would get huge tax incentives.
