According to Simon Johnson, former IMF Chief Economist and MIT professor, a showdown is brewing between major banks like Goldman Sachs and the Obama Administration. This showdown, Simon says, not only places in question the federal government's ability to control these banks, but also poses a real threat to the nation's economic recovery.
The issue? Caps on bonuses and executive comp. Goldman says that the removal of these caps, through payback of TARP dollars, would create significant strategic advantage in their ability to recruit top talent.
Pretty powerful testimony to the value of talent in today's economy.
Listen here:
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