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Trumpsky and Wall Street

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Trumpsky and Wall Street

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A lead article in NYTimes's Sunday editorial section takes the odd position that, despite Trumpies having happily trashed Wall Street throughout the campaign, NOW The Street SHOULD make major sacrifices to justify his "forgiveness."

In particular, the justly-maligned plutocrats need to drastically revamp their compensation structure -- risking their own assets, as they in fact did up to 1970. In that year, big traders (which had been partnerships) began turning themselves into corporations -- putting all the risk onto shareholders, and freeing top execs to focus on "the bottom line" and their own bonuses -- that is, for juicing revenues eithout worrying about the risks flowing from their decisions.

As a longtime observer of American business, I am intrigued by this unusual proposition. I will return to discuss this idea after digesting it further.
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