US regulators proposed requiring the nation’s largest banks and financial firms to hold back executives’ bonus pay for four years, extending by a year the common industry practice on Wall Street incentive payouts.
The plan would also require a minimum period of seven years for the biggest firms to “claw back” bonuses if it turns out an executive’s actions hurt the institution.
In a free market economy—that is to say, a healthy economy—this would be a business decision, validated or rejected by that business’ owners and its marketplace customers. However, in this Progressive-Democrat Party administration, this is a Government Decision, made by Government Know Betters, because those actually participating in an economy, with their own money on the line, can’t possibly understand the situation.
Another hint of a Government with too many employees and too little work: this…rule…was developed by no less than six agencies.