They'll discourage commercial banks from being investment banks
(NEWSER) - Steven Pearlstein isn't exactly wowed by the new salary rules being proposed for Wall Street. "Don't get carried away. By themselves, these measures won't prevent future crises, nor will they likely do much to lower the prevailing pay levels on Wall Street or in corporate America." But, he writes, they do have elements of meaningful reform. It's time, after all, for commercial bankers to stop behaving like investment bankers. More»
