Tuesday, January 13, 2009

Will the Regulators be Fired? Help Wanted: Stockbrokers

First, Fire the Regulators
Our financial-oversight system needs more than just a makeover. Read More at Portfolio. Graphic: Remaking Regulators

Help Wanted: Wall Street Stockbrokers, No JokingDetails about retention bonuses for MS and Citi brokers haven't been announced. Smith Barney's top-grossing broker threatened to defect last summer. In response, Citi offered to promote him to management to boost his pay. When that didn't work, CEO Vik Pandit offered to move his personal account from Morgan Stanley, his former employer, to Mr. Zinman's supervision at Smith Barney. Zinman jumped to Credit Suisse anyway.

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