Verret Appears on CNBC Re: Wall Street Bonuses
Professor J.W. Verret made a December 10 appearance on CNBC's Street Signs in a segment entitled, "Wall St Bonuses: Did Outrage Win?"
Joining Verret on the show was executive compensation expert Brian Foley to discuss Morgan Stanley's announcement that it was cutting executive bonuses as much as 25% and to examine whether the action could best be attributed to the effects of business judgment or public outcry.
Citing the passage of landmark financial services regulation this past summer, Verret indicated banks were backing away from large bonuses even in a good year due to political pressures resulting from the prospect/effects of regulation.