Barry Ritholtz on with Dylan Ratigan from August 18, discussing Pay Czar Kenneth Feinberg's decision to seek compensation clawbacks from top executives of bailed-out banks and auto manufacturers.
- "I'm talking about the CEOs of the banks who directly decided to elevate the risk levels in order to elevate compensation, knowing that they didn't have the collateral to incur the liability at the time."
- "Money is supposed to represent the creation of value and not stealing. Selling insurance for something you can't pay the claims on is stealing, only it's better because you get the money up front."
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