Bonus Watch '16: Hillary Would Cut Bonuses At Banks Paying Fines For Wrongdoing (So...All Of Them)

Listen up, because this literally applies to all of you.
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Are you a senior executive at a bank that has, in recent years, ponied up some money for doing some, let's just call it, illegal sh*t? If anyone is having trouble jogging their memory re: whether or not their institution has found it necessary to pay the government to make certain legal troubles go away, a quick refresh: if you work Goldman Sachs, JP Morgan, Bank of America, Citigroup, Wells Faro, Deutsche Bank, Barclays, Credit Suisse, UBS, the answer is yes. (Drilling down to a more micro level, BofA, has in fact, paid a fine every 30 minutes over the last 5 years, with JP Morgan in a close second.) Anyway, should you and your firm keep doing what you're doing, there will maybe be consequences to pay under President Clinton, who says she's planning to run a much tighter ship.

Hillary Clinton, the Democratic frontrunner for president, said Monday that when corporations pay government fines for wrongdoing, the companies should reduce the bonuses of executives who “should have been accountable or should have caught the problem.” In a wide-ranging question-and-answer session on Facebook, Mrs. Clinton also proposed increasing rewards for whistleblowers at financial firms, and she explained why she thinks the capital gains rate should go up for short-term investments.

Clinton: Companies Fined for Wrongdoing Should Cut Executive Bonuses [WSJ]

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