Word: risks
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Would this intervention be flawlessly executed? Of course not. But if ham-handed pay rules drive risky, highly rewarded activities out of big banks and into smaller firms - if big banks become boring again - that might not be all bad, since smaller firms presumably pose less risk to the financial system...
...income was more equitable," the head of a big financial institution told me recently. "I have no problem with paying 50% taxes or more. But government meddling with compensation practices is a bad idea." Yes, raising tax rates would bring negative consequences: more incentive for evasion, less incentive for risk-taking and entrepreneurship. Lowering the top rate had its negative consequences too, though. It's a matter of which negative consequences we'd rather put up with...
...industry argues that the Pebble Mine can be developed without "serious risk to the environment." Have we forgotten the devastating 1989 oil spill in Prince William Sound? Unless the industry can say "no risk," the mine should be shut down. Reynold Knopf, HOLLISTON, MASS...
McCain to his top veep vetter, Washington lawyer A.B. Culvahouse: "What's your bottom line?" Culvahouse: "John, high risk, high reward." McCain: "You shouldn't have told me that. I've been a risk-taker all my life...
Culvahouse was right - choosing the little known Alaska governor as his running mate represented a daring risk, but unfortunately for the GOP it backfired. The excitement generated by Palin's surprise pick, her unorthodox political pedigree and electrifying convention acceptance speech would dissipate as she increasingly appeared unprepared for the nation's No. 2 office. Top McCain strategist Steve Schmidt believed Palin's series of disastrous interviews with CBS' Katie Couric was "one of the worst performances ever" by a national political candidate (Balz and Johnson report that Palin put off preparing for the interview, oddly, to focus on completing...