The Fed’s regulatory guru Daniel Tarullo is speaking at a “Reforming Wall Street Culture Workshop” and is still plugging for tougher rules and supervision.
He says that more firms are making bad behaviour dismissals more public but that if banks don’t control their staff better they will face more rules. He adds that bankers pay should be linked to conduct.
It really doesn’t matter how much regulation you throw at the problem you will always get bad eggs and people who will bypass the checks. At the end of the day you still have top rely on trust that someone doesn’t get in bother and hide it under the carpet. To much regulation and you face the prospect of many financial firms getting out of certain areas of finance as the risks to them from regulations are too great.
Anyway, I wonder how many Wall Street firms are at the workshop?
