WASHINGTON -- The U.S. isn't doing enough to curtail excessive banker bonuses, Europe's top financial regulator told the Obama administration in a recently-disclosed letter.
"I think you agree with me that 'bankers' bonuses' is a matter that continues to cause public outrage," Michel Barnier, the European commissioner overseeing finance, wrote to Treasury Secretary Timothy Geithner. "Getting this matter right is key to restoring our citizens' confidence in the financial system -- and ultimately -- their confidence in the public authorities regulating the financial institutions."
"I think you agree with me that 'bankers' bonuses' is a matter that continues to cause public outrage," Michel Barnier, the European commissioner overseeing finance, wrote to Treasury Secretary Timothy Geithner. "Getting this matter right is key to restoring our citizens' confidence in the financial system -- and ultimately -- their confidence in the public authorities regulating the financial institutions."
