Will Wall Street Shun the Bailout?
Add one more super-sized question mark to the bazillion-dollar bailout: Will Wall Street take the bait?
In the U.K. Guardian, James Doran says eh, maybe not so much:
One of the least attractive elements is a section designed to curb executive pay at banks that participate in the bail-out package. These include limiting stock-related pay and banning 'golden parachutes' for executives.
"I think this hodge-podge of regulations and rules will be enough to put many [chief executives] off participating," [Thomas] Caldwell [of Caldwell Financial, a billion-dollar fund] said.
Sources close to Goldman Sachs and Merrill Lynch indicated the banks might choose not to participate in the bail-out as there is a growing view on Wall Street that the market may be bottoming out.
