Pay rules may prompt Goldman to shed bank charter
source: http://www.reuters.com/article/ousivMolt/idUSTRE58L58E20090922
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Some investors believe Goldman Sachs Group Inc (GS.N) may try to shed its commercial banking charter to sidestep U.S. government efforts to rein in exorbitant Wall Street pay.
But regulators may force the firm to stay in the banking system.
The U.S. Federal Reserve is proposing new rules to limit pay packages in an effort to curb excessive risk-taking. Banks are expected to bridle under the new restrictions, with Goldman taking particular umbrage because of its history of outsized compensation deals for strong performers.
(See rest of article at link above)
But regulators may force the firm to stay in the banking system.
The U.S. Federal Reserve is proposing new rules to limit pay packages in an effort to curb excessive risk-taking. Banks are expected to bridle under the new restrictions, with Goldman taking particular umbrage because of its history of outsized compensation deals for strong performers.
(See rest of article at link above)
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