Comments on: The United States of America vs. Andrew Hall http://dailycapitalist.com/2009/09/22/the-united-states-of-america-vs-andrew-hall/ Economics, Finance, and Investment Risk Sat, 31 Jul 2010 02:17:03 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Exceptional « Thinking Things Through http://dailycapitalist.com/2009/09/22/the-united-states-of-america-vs-andrew-hall/comment-page-1/#comment-3355 Exceptional « Thinking Things Through Tue, 29 Sep 2009 11:01:07 +0000 http://dailycapitalist.com/?p=1926#comment-3355 [...] The United States of America vs. Andrew Hall. While addressing the issue of a highly compensated Wall Street trader, Jeff Harding also offers a concise, clear, and correct explanation of the financial crisis. [...] [...] The United States of America vs. Andrew Hall. While addressing the issue of a highly compensated Wall Street trader, Jeff Harding also offers a concise, clear, and correct explanation of the financial crisis. [...]

]]> By: Jeff Harding http://dailycapitalist.com/2009/09/22/the-united-states-of-america-vs-andrew-hall/comment-page-1/#comment-3352 Jeff Harding Thu, 24 Sep 2009 04:18:51 +0000 http://dailycapitalist.com/?p=1926#comment-3352 Lloyd, thanks for the compliment and the comment. We will see if the sanctity of the contract holds up to all the pressure. Lloyd, thanks for the compliment and the comment. We will see if the sanctity of the contract holds up to all the pressure.

]]> By: Lloyd G. http://dailycapitalist.com/2009/09/22/the-united-states-of-america-vs-andrew-hall/comment-page-1/#comment-3350 Lloyd G. Wed, 23 Sep 2009 10:43:58 +0000 http://dailycapitalist.com/?p=1926#comment-3350 Jeff- Good post. On the one hand, like you say, a deal's a deal. If the gov't takes away some of Mr. Hall's paycheck it will hurt the industry. It's the finder's fees and commissions that bankers get that make them hustle to make the deals that keep the economy going. The absolute worst thing that could be done to banking would be to institute a GS-type pay scale system. Do we really want bankers to have the Soviet-era Russian attitude "They pretend to pay us, we pretend to work"? I guess Krugman would like this. On the other hand, when Citi (and the other banks) begged the gov't to step in and save them, they asked for this kind of idiot micromanagement. As you point out, this whole brouhaha is an attempt to distract the couch potatoes from the real causes of the crisis -- #1 of which = gov't meddling -- by the people who really created the crisis, and who promise more of the same. Jeff-
Good post.

On the one hand, like you say, a deal’s a deal. If the gov’t takes away some of Mr. Hall’s paycheck it will hurt the industry. It’s the finder’s fees and commissions that bankers get that make them hustle to make the deals that keep the economy going. The absolute worst thing that could be done to banking would be to institute a GS-type pay scale system. Do we really want bankers to have the Soviet-era Russian attitude “They pretend to pay us, we pretend to work”? I guess Krugman would like this.

On the other hand, when Citi (and the other banks) begged the gov’t to step in and save them, they asked for this kind of idiot micromanagement.

As you point out, this whole brouhaha is an attempt to distract the couch potatoes from the real causes of the crisis — #1 of which = gov’t meddling — by the people who really created the crisis, and who promise more of the same.

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