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Friday, April 13, 2012

Friday, April 13, 2012. Relative wages of financial subsectors: 1929-2006 Source: Philippon and Reshef : “Wages and Human Capital in the US Financial Industry: 1909-2006”.

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Friday, April 13, 2012

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  1. Friday, April 13, 2012

  2. Relative wages of financial subsectors: 1929-2006 Source: Philippon and Reshef: “Wages and Human Capital in the US Financial Industry: 1909-2006”

  3. OTC: Notional values in billions of US dollars of interest rate swapsand forward rate agreements (FRAs); Exchanges: Notional value in billions of US dollars of interest rate futures. Biannual: 1998-H1-2011-H1. Source: BIS

  4. Median CEO Pay in S&P 500, 1970-2010

  5. Avg ratio of Salary:Total in S&P 500

  6. Option Values for Top 5 in S&P 500

  7. Equity Values for Top 5 in S&P 500

  8. Pay and Risk Taking

  9. Reducing Risk-Taking Incentives Negative Bonuses Bonus Banks Salary ↓, Bonus ↑

  10. +$400 +$400 -$600 -$600 Incentive Problems with Debt (or “Too Big To Fail” Guarantees)

  11. -84% -31% -17% 2006 and 2008 bonuses for Top 5 Execs

  12. -95% -65% -70% Option Intrinsic Values for Top 5 Execs

  13. -82% -39% -27% Restricted Stockholdings for Top 5 Execs

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