Let’s Get Real Clawbacks From the Banks

Oct. 5 (Bloomberg) -- The financial crisis began in 2008.How many cash bonuses and equity awards have been reclaimed fromthe most senior banking executives who caused it? None that Ican ascertain from required financial disclosures.

Of course, some executives experienced the ultimateclawback: losing their jobs and watching their unvested stockand unexercised stock options vanish to bankruptcy, creditors orworthlessness. But as for all the cash bonuses and stock thathave already been paid out for illusory earnings and revenuebased on valueless investments, little or nothing has beenrecouped.