Paul Krugman on Andrew Hall

Paul Krugman,ever the populist,has now jumped into the Hall fray ( read Rewarding Bad Actors NYT Aug.2,2009 ).In his editorial,Professor Krugman fires a broadside against Goldman Sachs’high frequency derived profits and against Mr.Hall.Arguendo,one might  find  high frequency trading to be reprehensible because those with higher speed computers are said to have an unfair advantage over [...]

James Madison and Hall’s $ 100M bonus

On July 27,2009,I posted a note  ( below: Rémunération des cadres bancaires : les $100 millions d’Andrew Hall ) on the  debate raging around Andrew Hall’s right to a $ 100 million bonus,the  topic now of David Segal’s  front page article in Sunday’s New York Times ( August 2,2009) .In my note I  stated that [...]

Rémunération des cadres bancaires : les $100 millions d’Andrew Hall

Le débat continue de faire rage.Cette fois, il s’agit de la rémunération d’Andrew Hall, patron de la division Phibro de Citigroup.Celui-ci, contractuellement devrait toucher $100 millions au titre de l’exercice 2009.Cette perspective n’est pas au goût de Ken Feinberg, le tsar des traitements de cadres de sociétés aidées par le gouvernement. D’ou la relance du [...]

French influence in Korea?

The recent publication of Robert Cohen’s book “Turning Around a Bank in Korea: A Business and Cultural Challenge” got me thinking. Here was a Frenchman, who after a distinguished 25-year career at the old Credit Lyonnais (now Calyon after some Executive Life troubles that got it absorbed by France’s “Green Bank”, Caisse Nationale du Crédit [...]

When Bonus Contracts Can Be Broken

Amid all the otherwise legitimate furor over the A.I.G. bonuses,it is refreshing ,and useful,to see the contract law framework for a good legal analysis set out by well regarded law professors such as Charles Fried of Harvard :see When Bonus Contracts Can Be Broken Contracts Now Seen as Being Rewritable For an update on the [...]

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