Prof. Painter Quoted on Investment Banking Reform Proposals

Professor Richard Painter was quoted in an editorial, "Create An Ethical Culture and Reasonable Compensation Rules Will Follow," in Institutional Investor. The article cited Painter's current research with colleague Professor Claire Hill which proposes "making highly paid employees personally liable in cases of insolvency and deferring pay in the form of assessable stock that would be exposed to company failures." Painter was quoted as saying, "I would just federally require it." The author concluded that the Painter/Hill proposal "has an elegance that reflexive regulatory reactions have lacked."