G-20 Poised to Curb Banker Pay, Coordinate More
World leaders are poised to crack down on banker pay and better coordinate economic policies as they seek to temper the excesses that helped trigger the worst financial crisisin seven decades.
President Barack Obama and other Group of 20 leaders meeting in Pittsburgh are uniting behind a plan to force banks to tie compensation more closely to risk and tighten capital requirements, while they agreed to maintain stimulus measures to spur the global economy, said officials from G-20 governments.
Treasury Secretary Timothy Geithner said there’s a “strong consensus” to tackle worldwide economic imbalances. At the same time, divisions remain on how to overhaul control of the International Monetary Fund.
Originally posted on Bloomberg