Robert Pozen looks at the causes of the 2008 financial collapse and says that the financial system needs to be reformed so that we don’t see a repeat down the road. He argues for changing the incentive system on Wall Street and calls for strengthening the government regulation of financial markets. (1 hours, 9 minutes)
Read the full story »The British and Canadians tend to think not, while Americans don’t seem to mind much. Bob Pozen explores the issue.
When the US pay czar, Kenneth Feinberg, approved the compensation of the top executives at seven troubled financial institutions, he insisted that they all appoint an independent director as the board chair rather than the CEO.
by Marie Leone Robert Pozen, institutional investor and chairman of MFS, asserts in his new book, Too Big to Save? How to Fix the U.S. Financial System, that only the 100 to 300 largest U.S. companies should be required to switch to IFRS. Pozen writes that the SEC should not adopt the international standards as the nation’s official accounting rules until several significant issues are resolved, including working out discrepancies between IFRS and U.S. GAAP with regard to the accounting treatment ..read more
In short, while any tax credit for new jobs is bound to involve some unnecessary government expenditure, a proper design can substantially restrict the ability of employers to game the system. Moreover, the cost of the tax credit can be dramatically reduced to the extent that the new jobs go to workers currently drawing unemployment benefits. It makes more sense to incentivise companies to hire the unemployed than to pay those same people not to work.
(NECN) – Robert Pozen, Chairman of MFS Investment Management, talks about what caused the meltdown of the nation’s financial system and gives his opinion on how to fix the system. It’s a preview of his upcoming book: “Too big to save? How to fix the U.S. Financial system.”
Investment professionals, take note. Congress is seriously debating legislation that would significantly expand the coverage of the Investment Advisers Act, empower the SEC to make rules on advisor compensation and increase the likelihood of lawsuits against advisors.
Should the SEC adopt the proposal to require all shareholder nominees to be included on the proxy card of a company along with its slate of director nominees? Or does the Healthsouth approach go far enough?
A year ago this week, when the world seemed to be falling apart, the US government took the bold and unusual step of pumping hundreds of billions of dollars into some of the country’s biggest banks in an effort to save them – and the global economy.
Now a year later, we’re still trying to figure out if it was the right decision, how will we pay for it and how should we handle such a crisis in the future.
Review By Alisa Greenstein
“Robert Pozen, Chairman of MFS Investment Management, offers an insightful examination of the causes of the current global financial crisis in his new book “Too Big To Save? How to Fix the U.S. Financial System.” Pozen’s text provides a detailed framework to analyze the abundance of information about the financial crisis, to avoid repeating the mistakes of the past and to create an effective plan for fixing the financial system in the future. In part ..read more
by Tim Reason. Only the biggest U.S. companies should bother adopting the international financial reporting standards written by International Accounting Standards Board, the former chair of the SEC’s advisory committee on financial reporting says. By Tim Reason, CFO.com | US October 29, 2009