This is precisely the kind of communist shit that they have always wanted. While there is merit to the idea that executives shouldn’t get tens or hundreds of millions of dollars from corporations they ran into the toilet, there isn’t exactly an abundance of people who have the necessary skill set and abilities to run an entity that has trillions in assets.
If you wanted to purposefully tank the banking system, you’d want a law like this. That way, nobody remotely competent is interested in assuming the liability for running a large bank. Would rather go work in a different business and make the same money without the bullshit. When the fed itself is the primary reason for causing a leverage issue in the banks, why would you put your own ass and future on the line to be accountable for what you cannot control - fed monetary policy.
This is precisely the kind of communist shit that they have always wanted. While there is merit to the idea that executives shouldn’t get tens or hundreds of millions of dollars from corporations they ran into the toilet, there isn’t exactly an abundance of people who have the necessary skill set and abilities to run an entity that has trillions in assets.
If you wanted to purposefully tank the banking system, you’d want a law like this. That way, nobody remotely competent is interested in assuming the liability for running a large bank. Would rather go work in a different business and make the same money without the bullshit. When the fed itself is the primary reason for causing a leverage issue in the banks, why would you put your own ass and future on the line to be accountable for what you cannot control - fed monetary policy.
They are tanking the banking system now, not 5 years from now. The days of covert sabotage are long over.